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pjmcauley
Dec 18, 2019 2:04 AM

XJO/ASX Megaphone Pattern and Wave 2 ABC Correction Short

S&P/ASX 200 IndexASX

Description

The XJO Daily appears to be topping. The retracement looks like Wave 2 ABC Correction and price has retested the trend line coming up from previous highs forming something resembling a Megaphone Pattern. Volatility should be high going into Christmas.

Comment

Bearish outside candle. The up cycle is likely at a end for the XJO.
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