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ASX200, CBA, IRON ORE, BHP, RIO, FMG, NCM, DXY, AUDUSD 2Yr Bonds Elliott Wave Technical Analysis


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Australian Stock Market Elliott Wave Technical  Analysis Trading Levels ASX 200 Index (XJO), Forex AUDUSD, US Dollar DXY, Commonwealth Bank CBA, BHP Group (BHP), Rio Tinto (RIO), Fortescue Metals Group (FMG), Newcrest Mining NCM, Australian 2 Yr Government Bonds Yield. Technical Analysis Trading Strategies
ASX200 Market Summary: Bullish weekly cycle in play
ASX200 Trading Strategy: Hold long

Video Chapters
00:00   ASX200 (XJO)
11:55 Commonwealth Bank CBA, NAB, BEN etc
16:40  Iron Ore Copper BHP RIO FMG 
22:20  Lithium ETF &  Stocks
29:34 Newcrest Mining NCM / US GOLD
32:04  AUDUSD /  DXY US Dollar / Australian 2 Yr Government Bonds Yield 
36:05 Thanks for watching!

Analyst Peter Mathers TradingLounge™ 

 

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    • Iron Ore Elliott wave Analysis: bullish impulse could resume. Function - Counter-trend Mode - Corrective Structure - Zigzag Position - Black wave 4 of higher degree red wave (5)D Direction - Black wave 5 of higher degree red wave (5) Details - After the bears dragged this commodity to the marked 122.05-117.95 Fib-zone, a significant bounce could lead to a recovery to 150. The function of the present market movement is identified as counter-trend, indicative of a corrective phase within the larger Elliott Wave cycle. This correction on the H4 is structured as a zigzag pattern, denoted as the black wave 4 within the context of the higher degree red wave (5) of an impulse. Our focus shifts toward the anticipated direction of the market, which is poised for the initiation of the black wave 5, constituting a crucial phase within the broader red wave (3) on the daily time frame. A notable aspect of the current market dynamics is the recent downturn that saw the commodity retreat to the Fib-zone ranging from 122.05 to 117.95. This is a zigzag corrective pattern. The implication is that, amidst this bearish onslaught, we expect this zone to provide support for a significant rebound, paving the way for a recovery rally towards the 150 mark. At present, our analysis revolves around the ongoing counting of the black impulse wave pattern, with particular attention directed toward the completion of the 4th wave. This impending wave completion heralds the onset of the highly anticipated wave 5 of (3), representing a prized opportunity within the Elliott Wave framework. Critical to our analysis is the pivotal support level situated at 115.25. The rejection of further decline below this threshold would solidify the outlook for the impending wave 5 of (3), reinforcing the bullish sentiment. If this bearish correction stays above 115.2 and the price breaks above 123.5, renewed bullish interests for wave 5 of (3) could be assumed especially if the bullish response is swift.  In summary, the present market conditions offer a nuanced landscape characterized by corrective movements within the framework of Elliott Wave theory. While the completion of the 4th wave sets the stage for the anticipated wave 5 of (3), traders are advised to monitor key support levels diligently. As such, astute observation coupled with a thorough understanding of Elliott Wave principles will be instrumental in navigating the complexities of the market as it unfolds. Technical Analyst : Sanmi Adeagbo Source : Tradinglounge.com get trial here!        
    • Wednesday's FOMC minutes confirmed that the Fed remains "highly attentive" to inflation risks with some officials warning of downside risks in overly restrictive policy but others seeing risks of inflation progress stalling. Despite 'higher for longer' rates remaining on the cards, the US dollar stays under pressure with June rate cut expectations remaining unchanged at around 54%. Equity indices rallied as Nvidia revenues soared in the fourth quarter as the world’s most valuable chip manufacturer benefited from a spending spree on artificial intelligence. The Nikkei 225 hit a new record high after 34 years while global stock indices advance on positive sentiment.  
    • Hi @Omegaguy123, Please note that this is due to the higher broker margin requirements which will need to be transferred to the client and make leveraged trading unfeasible. Thanks, KoketsoIG
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