ASX 200 PLUS Elliott Wave Analysis, 31 August
S&P/ASX 200 Index (^AXJO) Technical Analysis Elliott Wave Forecast. Plus CBA ANZ BHP RIO FMG, IRON ORE, COPPER, CRUDE, AUDUSD, DXY, NIFTY 50, CHINA A50 Shanghai Composite SSEC.
ASX 200 Index Overview: Looking for a move higher, look for tested support on 7530 as this will take you to 7550
Commodities Copper and Iron Ore can now have lows in place. This is also being confirmed by the AUDUSD and the DXY/ US Dollar Index.
Australian Stocks: Finance and resources stocks are heading lower. That said the resources stocks are in their final stages of completion (2 weeks) whereas the finance sector stocks are just starting their decline into Intermediate Wave (4)
Trading Levels Minor Level 5; 7,500 as the market support
ASX200 Elliott Wave: I'm waiting for the banks to make the next move so I can confirm a move for the ASX200, of course the US markets are rallying, but we need our banks to move higher, but they are under pressure.
ASX200 Trading Strategy: Long trades to would require 7530 as the tested support, otherwise expect lower price especially if 7465 becomes the resistance.
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00:00 ASX200 Elliott Wave Analysis
01:34 Banks Elliott Wave Analysis
05:00 ASX200 Elliott Wave Analysis
12:00 Commodities Elliott Wave Analysis
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This video uses Contracts for Difference (CFDs)
known as CFD Trading indices or Index trading.Technical Analysis Elliott wave, Trading Levels and CFD Day Trading.
Education: Elliott Wave Structures
Elliott degrees in order: Grand Super cycle wave, Super cycle wave, Cycle wave, Primary wave, Intermediate wave, Minor wave, Minute wave, Minuette wave and Subminuette wave.
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About the Author
Peter Mathers started actively trading in 1982. He began his career at Hoei and Shoin, a Japanese futures trading company. After learning Japanese analysis techniques, Peter moved to Sydney where he worked for various brokerage houses, furthering his practical knowledge of derivative markets.
Extending his passion overseas, Peter travelled to Britain where he studied both the UK and US markets. When Peter returned to Australia, he updated his qualifications and went on to write and deliver advanced trading workshops for global leaders in foreign exchange and derivative trading, including CMC Markets, City Index, Invast and others. As a well-seasoned trader, with an aptitude for investor education, Peter obtained the necessary licences to establish TradingLounge and offer education and trading support to traders and investors.