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ASX All Ordinary: Elliottwave Structure suggests correction to 11/23 peak in progress

Discussion in 'Forex Trading Signals & Forecasts' started by Sandra S., Dec 17, 2015.

  1. Sandra S.

    Sandra S. Forum Member

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    Short term Elliott Wave cycle suggests rally to 5420 on 10/23 ended wave “x”. From this level, Index has turned lower in wave (W) with the internal unfolding as a triple three structure where wave (W) ended at 5041 and wave (X) ended at 5334, wave (Y) ended at 4963, and second wave (X) bounce is in progress towards 5193 – 5247 area before the decline resumes. While bounces stay below 5335, but more importantly as far as wave “x” pivot at 5420 stays intact, index is expected to resume lower

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