ASX / XJO Elliott Wave and Trading Levels analysis and traded as a CFD (contract for difference)
Elliott Wave count: Wave (iv) of iii) of C of (4) with a target close to 5600 the Wave four of one lesser degree in Elliott wave structure.
As you may know this benchmark index is weighted towards the Australian banks with CBA approximatley 8.8% of the ASX 200, so it's the AU banks creating the Elliott Wave pattern for the Aussie 200 (ASX200). So we can expect ANZ, WBC and CBA to have the same wave count pointed out in this video on an intraday basis.
That said some other banks like BEN are currently in bullish mode, so bear this in mind when shorting. We will continue to short the banks that we hold short. It also appears the European indices have much the same Elliott Wave count too.
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