EOW XAO Weekly Chart Update 29/01/2016.

A PIVOT POINT BULLISH REVERSAL on hand when it  was much needed. A follow through with another higher high close next week, would be the potential confirmation of a Wyckoff Accumulation C Phase.

C phase is where the new trend is born, but during the make up of Phase D, where a CHoCH ( Change of Character) with price action behaviour is on hand is the place most Wyckoffian traders/investors may get busy with their longs, in theory at least.

If ( a big IF) this is PHASE C of Accumulation with XAO, we have already seen the bottom.The low that we saw last week is what I am talking about (4858).Lets see if this may be the case over the coming weeks/months ? A new low on the other hand over the coming weeks/months, if on hand, negates this analysis.

For now, watch things as they unfold and  wait to see what a historically bullish Feb. may bring ? Another unexpected surprise to the upside may be ?

Enjoy your weekend.

XAO Weekly Chart with Wyckoff Accumulation Labelling below.

xaoweekly29012016

Disclaimer

All the information and analysis provided on this website is general in nature and for educational purposes only and does not constitute financial advice. No content in any way implies a recommendation to buy, sell, hold or short sell any financial instrument, nor is it financial advice.

Investing and trading in financial markets carries considerable risk, and should always be done in consultation with a licensed financial adviser taking your personal circumstances, financial situation, objectives and needs into consideration.

Links to other websites are inserted for convenience only and do not constitute endorsement of any of the material on those sites, or any associated organisation, product or service. Kazim Agaoglu is not responsible for the content of any site owned by a third party that may be linked to this website and such links are provided as a courtesy with no judgment or warranty being made concerning the suitability, accuracy or otherwise of the content on any such site.

Kazim Agaoglu disclaims any undertakings, warranties or guarantees, express or implied and shall not be liable for any loss or damage whatsoever arising out of in connection with the use of or reliance upon any of the information on this website. The user accepts sole responsibility associated with the use of the material on this site, irrespective of the purpose for which such use or results are applied. The information on this website is no substitute for financial advice.

 

 

 

Comments are closed.