Keeping the NOISE out.

After seeing the magnitude of the pullback on daily and weekly, I am doubtful of any “V” type reversal with All Ords (XAO). I say welcome to another potential trading range/flat price action behaviour/congestion within a major uptrend which may last 5-10 months in duration.

Monthly, long term chart is the focus by trying to keep the daily noise out and focusing on the big picture.

What are we likely to get by the end of the month if we examine the last three bars/candles which includes the current bar ? A bearish pivot which is yet to be confirmed. If on hand that would suggest further corrective period ( flat or further pullback) over the next 5-10 periods ( months).

In terms of the major trend, in a major time frame, nothing new as the bull run is still in full effect. Close below April low, on end of month closing basis, would change my stance on this front, if on hand.

This is it for now and enjoy the daily noise if you chart in that time frame.

Chart is courtesy of tradingview.com

xaomonthly13102018

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.