Australian All Ords Point and Figure Bullish Price Objective.
Fellow traders/analysts, prior post of mine looked at EW forecast of an Intermediate Degree where the target of it is also shown ( top forecast at 6764) shown at the top of this chart. Time to look at Point and Figure chart to see if there is a harmony/sync between two ?
We must bare in mind the box size of this chart in this analysis ( 40.4 points).
What do we see ? One target from earlier chart pointing the finger at 6764 and one from this analysis at 6941.60 !
I leave rest of the interpretation to you other than to say that I would not be surprised to see XAO knocking on 7000 level during the current up leg. Close enough is also good enough in my book.
Keep well and chart well.
Analysis here is for educational purposes only. It is not an investment advice.
We must bare in mind the box size of this chart in this analysis ( 40.4 points).
What do we see ? One target from earlier chart pointing the finger at 6764 and one from this analysis at 6941.60 !
I leave rest of the interpretation to you other than to say that I would not be surprised to see XAO knocking on 7000 level during the current up leg. Close enough is also good enough in my book.
Keep well and chart well.
Analysis here is for educational purposes only. It is not an investment advice.