ASX (XAO)... ELLIOTT WAVE part 1

[MARKETWAVES]

ASX ... ELIOTT WAVE part 1

ElliotT Waves are highly subjective ,,,,
like any other form of technical analysis

let's see where this takes us ...

 

[dutchie]

Re: ASX ... ELIOTT WAVE part 1

Marketwaves

Could you please add some commentary to each chart so that we can understand your charts better!

 

[MARKETWAVES]

Re: ASX ... ELIOTT WAVE part 1

(page 2) part 1

 

[MARKETWAVES]

ASX..ELLIOTT WAVE PART 2

ASX PART2 ....pg-1

 

[tech/a]

Re: ASX ... ELIOTT WAVE part 1

Cant say that I agree with your labelling of the Dark blue wave count.

Still the results the same with all counts finalising with a predicted wave 5 in light blue.

How do you determine the length of the current wave 4? (Approximated)
At what point would the count be considered incorrect?

 

[RichKid]

Re: ASX..ELLIOTT WAVE PART 2

Hi MW,
Great to see those charts, at least we can evaluate them with those extra notes and comments. Whether they 'predict' the future or not I find it educational and I'm glad to see em. Thanks for posting the stuff, certain to help us inexperienced TA people, something to compare our individual TA to as well.

You're probably aware by now that we have a diverse crowd here on ASF, makes it kinda interesting from time to time, as you would have found out. From hecklers to experts and all between.

Looking forward to more of your posts. All the best.

 

[tech/a]

Re: ASX..ELLIOTT WAVE PART 2

Hmm there is some serious positive divergence there in Slow Stochastics.
Also seriously over sold.

This is a great technically correct indication.(Ocsillators should be read in the direction of the primary trend---thats long in this case).

 

[DTM]

If I had to guess (which I am), I would say that the breaking of the barrier and the subsequent retracement could mean that we have just completed a wave 2 on the elliot wave and could be on our merry way down again with the wave 3.

The XJO is currently free falling at the moment and my next support levels are 3991, 3966, 3936 and 3901.

 

[DTM]

Market waves,

When you draw the gann support lines, where do you know to draw the bottom and the 50% line. Is it the best fit?

Thanks in advance.

Daniel

 

[MARKETWAVES]

This is an update ... to this ASX post ... this was one of my first posts when i first joined early last month ...

The ASX at the time had puled back and was sitting on major support ... the only way to see this would be to look at the long term weekly charts as illustrated above ,,, then there was divergence on the daily charts ...


Well, in the minds of technical analysis this is a so called base that was formed... the rally that you see was born out of divergence..... but more importantly the asx has made what is called an extended 5 the wave ,, pryor to the downturn earlier last month ..


THIS IS WHY I TRADE ELLIOT WAVES…..because its giving you a probability of where to look for a turn in a given market .....




Special note .....tech a
. please don't send any negative posts .. please try and write something positive ...
I am simply attempting to point out significant support levels and significant resistance levels throught the use of Elliott Waves and Fibonacci Retracements in my posts ....I AM NOT HERE TO GIVE ADVICE ...Its not my place .... I trade risk to reward

Nothing here is posted in hindsight ....

 

[tech/a]

Special note .....tech a
. please don't send any negative posts .. please try and write something positive ...
.I am simply attempting to point out significant support levels and significant resistance levels throught the use of Elliott Waves and Fibonacci Retracements in my posts ....I AM NOT HERE TO GIVE ADVICE ...Its not my place ....

Ke---?

I think my writings have been supportive of you analysis.

Simply asking for you to demonstrate use of your analysis by way of application and your sussinct reply---I find difficult to classify as negative.

Your use of Elliot is just as valid as any other form of analysis.

Elliot is one of the few "Predictive" analysis tools I feel has any credence and your application one of the best Ive seen.

Your analysis will either succeed or fail just as any other analysis.

Correct me if I'm wrong but I think my analysis on 9/5/05 was pretty spot as well and not an Elliot Wave in sight.I concurred with Divergence.

So Ke---? as Manuel would say.

 

[MARKETWAVES]

update time ..............

 

[MARKETWAVES]

pg-2

 

[DTM]

Ahh. Yes..., I see where you're coming from now.

Thanks MW.