Hi Raider
Good to see you focus on the larger time frame and a time count as well as price targets. You are right, this will pick a longer term bottom.
My suggestion was for a shorter term bottom on the daily. What I'm seeing is capitulaion and exhaustion selling in the 5th leg down from the March top along with positive divergence on a number of indicators. (Not an EW count by the way). I wouldn't rule out mondays candle pushing down to test fridays low to see if friday was just short covering or if there are real buyers down there.
rhodes2ritches lipstick on a pig friday, page-94
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Last
7,816.8 |
Change
-12.900(0.16%) |
Mkt cap ! n/a | |||
| Open | High | Low |
| 7,829.7 | 7,829.7 | 7,782.0 |
| XJO (ASX) Chart |