Is ASX 200 out of the woods yet ? Not at all but we have a FLOOR/SUPPORT in place. How did we get to this floor ? Read along.
We have a plan/road map to follow by utilising our TA knowledge. This involves more than one time frame approach and more than one charting type more than one TA method. A blend and a nice one for sure.
Only part of this work (blend) is shown where an correction clustering with other support factors set the floor for XJO at present. Whether or not it holds, in time we will know. Fact is, there is a FLOOR/SUPPORT in place at present which we can use as a reference point to work with. This chart which only focuses to the latest developments within that road map showing the correction which worked like a charm, so far anyway.
Analysis continues at thecharttechnician on market.