Strategy ASX200 No Strategy during the corrective processġ6:00 BHP Group (BHP), Rio Tinto (RIO), Fortescue Metals Group (FMG)ģ0:42 Newcrest Mining NCM / GOLD XAUUSD GDXĪnalyst Peter Mathers TradingLounge™ Australian Financial Services Licence - AFSL 317817 Banks and resources edging lower.Įlliott Wave ASX200 b) of 2 bullish corrective pattern not completed. Other mentions include CBA, BHP, RIO, FMG, NCM, GDX, PLS, IGO, DXY, AUDUSDĬontent ASX200, CBA, IRON ORE, BHP, RIO, FMG,GOLD, NCM, GDX, PLS, LTR, DXY, AUDUSD, GOV-BONDS There is no specific strategy mentioned for the ASX200 during this corrective process. The Elliott Wave analysis of the ASX200 suggests that a bullish corrective pattern (b) of 2 is ongoing and not yet completed. Banks and resources sectors are seen as lower. The summary mentions that the US dollar is softening while indices are becoming stronger. Source : get trial here!Įlliott Wave Analysis TradingLounge 4H Chart, 14 February 23,ĭirection Next higher Degrees: wave (1) of Motive TradingLounge Analyst: Kittiampon Somboonsod

The wave oscillators Below Zero-Line momentum are bearish. It is likely to trade below 0.060 but since it is the first drop in wave C, price may pull back to retest the 200 MA.ĭogecoin /U.S.dollar(DOGEUSD) Technical Indicators: The price is below the MA200 indicating a Down Trend.

Elliott Wave Analysis TradingLounge Daily Chart, 14 February 23,ĭirection Next higher Degrees: wave (Y) of Double Correctiveĭetails: Corrective trend end, and the price declines againĭogecoin /U.S.dollar(DOGEUSD) Trading Strategy: DogeCoin is still in a bearish price structure in a Zigzag pattern which is now developing in wave C.

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