ASX 200 technical analysis Elliott Wave [Video]
|ASX200, CBA ,ANZ, BHP, RIO, FMG, IRON ORE, COPPER, CRUDE, AUDUSD GOLD NCM DXY STO WPL Technical Analysis Elliott Wave
ASX 200 (XJO) Technical Analysis Bullish corrective pattern completed with the first impulse wave upwards as Wave (i). Expect Wave (ii) Wed and Thursday and Friday bullish in line with the bullish weekly cycle.
Today I also look at the Woodside WPL and Santos STO for long trade setups. Resource stocks like BHP RIO FMG are moving up in line with the Elliott wave analysis.
Australian banking sector XXJ long term Elliott wave count suggests holding banks for the longer term, holding through any corrective pattern for share traders but not CFD traders becasue of the overnight financing costs of CFDs which are actually highly expensive.
Trading Levels: ASX200 Support on the Minor level, top of Minor Group1 and Sub group1 7330 creates long trades
ASX200 Elliott Wave:abc of Wave (ii) retracement in play
ASX200 Trading Strategy: Buy on Wave c of (ii) and or buy new highs see video
Peter Mathers - TradingLounge
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