Name: ASX 200 XJO China A50 Hang Seng HSI Nifty 50 Nikkei N225 Elliott Wave News 16 July 2018
Uploaded: 2020-03-14T07:50:13.000Z
Duration: 19 min
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Gerund

welcome to trading Lounge and the Asian report on DDE.

Present continuous

Starting with the eye 6 200 He, um Now we're looking at intermediate way for here.

And we're looking at way one and two and three and four here on dhe.

It's been a little bit difficult to count in this little area here.

Now, the main thing here is that yes, I'm looking for top, and I'm looking for a pullback here, but at the same time, we don't want to fight a strong trend here on Dhe within that I know that the 6300 here, in terms of the training levels is a strong level.

So if we do get support on this, we will move up to 6500.

Okay, so but we don't have tested support on that on that level yet.

So there's a good chance that we can move down through here, but the same time we want to look at long trades as well here.

The Asian markets are pushing up firmly and they'll continue to push up s o.

We need to see if we're going thio our follow them as well.

So we need to be Maurin terms off strategy than than the Elliot count he at the moment.

So the early account here, we're being counting up from the low here, off way one and two and all the way up for way three.

Yeah, it's just No, there's something not right about the way that I've counted it here.

From here, from this wave to here to the one and two and three and four and five here for wave one and back for two and up 23 here and back before here, on up for five to at this point here.

So it is possible that even from here is well, it's still possible that this way for he could be sitting here.

I want to hear wave to do here and wave three here and wait for here and we go up higher here.

It does, you know, technically, it doesn't sort of fit because its way for his comeback and over that way one here But I've seen weirder things, so we need to be mindful of a few things.

So one of the first things we know is that the 6300 if that becomes the support, we need to be long from that point on, one way to do that we could move this trigger.

So we're moving up in that in that space, The other thing on the short side.

Now, if we're going with that in terms off moved down here, move back on, then moved down again Then then we need to be short under this level here.

So we're getting close to a trade which ever way It happens here, which is which is good news.

So that's just moving too mature to our one hour chart here.

Okay, so this came up well over the top, and then we're counting.

This is five ways down one and two and three and four and five.

You know, at first glance to this could be in a waiver, be wave, and then a sea wave down to here.

Um, it's such s So that's why I want to be mindful.

We need to be long above this height here or a nice sort of support on this level here.

This this thing on the short side here that just clear this up a little bit.

So the move down here appears to be impulsive.

Now the move up here, things will also be impulsive to the upside.

So it's possible that this could be in a waiver.

Be Wait a sea wave up into this space on, then fail on.

Been moved down from here at the same time, though another movable because we got group to here, we can see that we've got 72 Is resistance here?

There will be there will be support in here.

Let me just grab that roughly there on Dhe.

We can look at this space here, which is 50% here, so we can expect support to come in here on the other support to come into here.

So if that's the 61.8% retracement level, and the closest largest number is 6215.

Then if you went short here, you would just make the short trade here, um, smaller than you would normally do a position for on then the following trade would be the 50 here as a retested resistance here at that point.

So it must become the resistance before you need that first low below the level on.

Then, if it moves back up, then down, then you triggered shortest time.

And if it doesn't move down, then you can expect abouts off this top of group one here with bond will be lots of support, mirroring these lows over here.

So that would be the pathway to the downside on dhe.

You could go long if you had support on on this number here 6 to 7 to if it was nice and tested support and you could look to add on top of the 80 here.

But yeah, you can get trapped within this space here.

If there was a move up to here, then it would react back here again before moving up and you'd be able to get a better moving there.

So any move to the upside here would be within the would be close to the 50 60% retracement level here which we can put in here, which would be here roughly before seeing and moved down.

So we just check on something else in the background here before we move on.

We can still expect the s and P 500 to push up.

So the other thing to what normally occurs on Friday will follow through on the Monday So a bit bearish appear for this market?

I want to start with with India with nifty Andi in this instance here we're looking, you know, we were looking at this is wait three over here like many of the other markets and then looking at a wave and be wave up here on then the sea wave down, but this is being moving away so we can look at it.

A za bullish move out here on Dhe with nifty here, we can also look s So we're looking at this is a bullish bullish move now, Andi.

So the next level here, obviously, we're going to get resistance at this old high here.

We are working on 11,000 here, so there's going to be, um, in a bit of a vibration, He as well, so But we can expect this market to continue to move up to 11,500 before any sort of major sort of correction comes into play here.

So anything here will be rather small on a few.

Bounce is coming up and coming back and checking.

See, in terms off the count, going to the upside, he and there's no real sort of change here.

I think last time I would have pointed out from this low.

So I haven't really had this wave three yet or this way for here yet.

So I'm just gonna clean this up in here a little bit while we're here.

Hopes to Daisy clean these up so we can look a wave three being here.

We can look att way for moving back here and then wave five moving up.

So that there and then another wave for in three waves coming back before moving higher.

But we need to be careful about the pullback.

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ASX 200 XJO China A50 Hang Seng HSI Nifty 50 Nikkei N225 Elliott Wave News 16 July 2018

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