S&P/ASX 200 (ASX:XJO) - 16/01 Indices, 65874263, page-565 - HotCopper | ASX Share Prices, Stock Market & Share Trading Forum

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Whalewatcher

4,081 Posts.

204

25/01/23

12:29

Post #: 65874263
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Originally posted by TheFadz: ↑

Appreciate the comment but I'm enjoying trading without having to post regularly
Haha

So I've taken a break from HC this week
I'll see how I feel next week
Anyway it looks like I'm not needed, as a few have tried to replicate my fences (even though they like to make fun of them)
Haha

In case you were wondering, we are currently trading in the 7450 & 7650 range (this is the last trend line range before market top)
As long as the xjo can hold onto 7450 ish by the end of month, it should get close to 7650 in Feb before the proper march correction (if the xjo hit market top in December it would've hit 7450 & had a proper pullback already. Instead we've had this as a result)

My fences this morning were 7520 & 7460
At the close & after hours I'll be looking at 7440 & 7500 range

7460 was my ema support on the hrly chart & hasn't been tested since Jan 10th
Testing now

So if you want your downtrend & pullback, support will need to break & upper fence needs to hold on consecutive days

In case you're wondering, the December selloff has given the xjo all this room to grind higher

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XJO Value at posting: 7,466.4
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