XAO ... Interesting day's trading ... (thanks to the BBBBanks!)....

XAO ... Interesting day's trading ... (thanks to the BBBBanks!). Very hard to pick when and where this euphoria will end.

But just maybe the charts are telling us something ... History repeats right!?!? If so, and taking the 2_hourly Chart to illustrate, then may be we are heading to at least the 6208-17 zone if not all the way back to the charts high ... 6481.30+.

Why? Have a look at the wave structure coming down from that 6481.30H ... a 5-waver with wave(v) = 2 x wave(i), wave(ii) was 50% of wave(i) and the low(5478.40) was a smidgeon over the 261.8% extn of the wave(i) low level.

Now have a look at the move out from the 5478.40L ... Certainly looking like a 5_waver in process up and wave(ii) was also 50% of wave(i) just as in the move down. So, determining the extent of our current wave(v) in process signals 2 MM 'targets'. Wave(v) = wave(i) and 161.8%Fib extn level of initial range ... 6208 -17 zone... AND, very possible ... ~ 6481.30/6490/6500; the latter 2 being wave(v) = 2 x wave(i) and the 261.8% Fib extn of the initial wave(i) up!

I have also 'constructed' a potential Pitchfork chart that maybe in play and also projects at least the low MM 'target' zone .... ~ 6200+ zone.

See how we go ....