ASX 200 SPI CFD Trading - Elliott Wave Chart

SPI 15 Minute Chart - Elliott Wave Count - SPI CFD Trading

Index Trading SPI / ASX200 Technical Analysis & Day Trading

Code: SPI CFD / ASX200 XJO
Date: 23 December
Chart: 4 Hour Chart
when the price is above the 4200 MinorLevel Pivot the weight and balance line in the next higher degree of pattern e.g. The larger triangle pattern the price will travel more freely. There is supply  / resistance at SG2 {4165|4172|4180} and the 4200 (mTL2)
The next step up is finding support on the Midpoint 4150 this is essential support, you need a a retest pattern checking for support on this price before adding to longs or moving in long. The Support in the market is back in SG1 {4130|4120|4110} stops technically should be at 4117 and if you trading the Impulse wave, i.e. the trend. Then you can’t move stops until the Midpoint 4150 is secured as support. Navigating through SG2 is going to be tricky as the supply is thick and the Xmas volume is light.
EarlyBird Report Comments:
SPI CFDs 4141
Technical Analysis
TradingLevels: Build long trades above 4100
Elliott Wave: Wave (iii) up
Day Trading Strategies: Build a long trade off the sublevels.

Code: SPI CFD
Date: 13 March
SPI CFD 4210
TradingLevels: SG1 holds the price as resistance to 4200 and SG2 holds the price to 4200 as support, a break out from SG1 or SG2 is the direction of the trend.
As you can see the price has been working across 4200, we could assume that its two thirds of the way through its pattern, so another swing down to 4180 and then if the price climbs back about 4200, then we can expect the price to move up further, however if the price gets trapped under the 4200 then expect further selling
Elliott Wave:  In the slightly bigger picture if the price takes out the last low 4130 then you have a bear market and support on 4200 creates the upside, however expect more swings at 4200 first.
Day Trading: support on 4230 creates the long and 4172 as resistance creates the shorts, play in the market now while the price is trying to sort out the 4200 as support or resistance can get you into trouble, wait just a little long and you should be able to see support or resistance at 4200, this is the key to the next main trend, so it may take some time but the next trend will make it worth it