XAO Stepping Stone tentative price objective met/exceed Intraday 25/08/2015

I have received an email from our friend MENTOR,TRUE EDUCATOR Mr Bruce Fraser this morning in regards to tentative price objectives specific to Wyckoff Method. He suggested that stepping stone ( in the case with XAO Re Distribution) horizontal count should be more reflective of the SHORT TERM DEVELOPMENTS.

I have taken the last count available and the SHORT TERM BEARISH PRICE OBJECTIVE from that which was @ 5040 was met and exceeded INTRADAY yesterday.

Do we have a new stepping stone/re distribution pattern on hand to take another price objective specific to Wyckoff Method ? No, the short answer is. But what we have is an unconfirmed LOW POLE WARNING looking at this chart. LOW POLE is like a bullish V Reversal which occurs in down trends. In Wyckoff Method we are not allowed to take a vertical count from LOW or HIGH POLES.

But in conventional PnF charting we can and we may. They are, as good as the  horizontal counts and if one is confirmed, I will take the count and post the BULLISH TENTATIVE PRICE OBJECTIVE from it. At this volatile times which we are in, every added information may come handy. Like the Fibonacci tool used at the previous post.

Will keep you posted with that, if and when it happens.

For those of us joining the ATAA Wyckoff Group here in Melbourne, I am still waiting to get the liability insurance certificate which will be used in venue hire for the Tresise Community Centre in Hawthorn.



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Chart is courtesy of StockCharts.com



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