ASX 200 SPI CFD Trading - Elliott Wave Chart

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

Code: SPI CFD / ASX200 XJO
Date: 21 February
SPI CFD 4266
Technical Analysis
TradingLevels: Resistances 4272 and 4300 expect corrective price action at this levels, however the wave count suggests higher moves
Elliott Wave:  The current move up is in three waves but should turn into five waves
Day Trading: Long is the call, however the SG2 4265|4272|4280 are deep in the supply zone (sellers) so expect corrective action the 4300 being the old high will have profit takers.
I think the better trade will come much later on, what I mean is the current three waves up need to turn into five waves (impulse) then a abc correction ( Impulse + abc = Motive wave) then trade long into a larger wave three.

Code: SPI CFD / ASX200 XJO
Date: 23 February
SPI CFD 4282
Technical Analysis
TradingLevels: MinorLevel (mTL3) 4300 resistance support SG2 4280|4272|4265 plus lower trend line support into SG2. If the price is going to move higher then a move into SG1 4310|4320|4330 should hold the price. in the next degree higher and the future will see the 4300 as the centre as the price vibrates within the SG1 and SG2 range, the upside target would be the next level the Midpoint 4350
Elliott Wave :  Impulse wave structure up
Day Trading: If the price reset before the opening is above 4272 the great, use the 4272 as your support

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