SPI200 Chat - What will happen next?? *suspense music*

[Trembling Hand]

So is the spi gonna get trashed in the weeks to come ?

depends on which one of the 8 indicators on that chart you believe.

 

[baby_swallow]

yep.. its due for a good haircut alright..
but i wouldnt bet big yet or i'll get my asrse kicked..
i'll stay nibble for now until a good formation sets up...

 

[LKR]

depends on which one of the 8 indicators on that chart you believe.

The more the merrier, they are great at showing you what happens in the market once its happened. Id have 30 tell me what has just happened, now if only i had a time machine.......

I got it! anticipation. Is there an indicator for that?

 

[baby_swallow]

The more the merrier, they are great at showing you what happens in the market once its happened. Id have 30 tell me what has just happened, now if only i had a time machine.......

I got it! anticipation. Is there an indicator for that?

The indicators are there as a guide to tell you whats the market been doing. Its up to the trader to draw up his/her conclusion on "What will happen next?".
btw.. i still have to meet a person who made money out of indicator signals.

 

[ThingyMajiggy]

btw.. i still have to meet a person who made money out of indicator signals.

Sooo...why use them?

 

[baby_swallow]

Nice charts baby_swallow,

So is the spi gonna get trashed in the weeks to come ?

only time will tell....
i prefer it breaking the 5000 level before establishing my long term shorts.

 

[baby_swallow]

Sooo...why use them?

please read my post...it explains what are they for.
most newbies mistakenly use their signals to trading... (like i used to,lol..)

 

[LKR]

The indicators are there as a guide to tell you whats the market been doing. Its up to the trader to draw up his/her conclusion on "What will happen next?".
btw.. i still have to meet a person who made money out of indicator signals.

What wrong with price time and volume?

imo you need a practical application, a high probability framework to trade from. What framework does MACD, MA, STOCK, RSI, BB BANDS thrown at a chart give you? They give you a pretty picture, but thats about it.

 

[LKR]

only time will tell....
i prefer it breaking the 5000 level before establishing my long term shorts.

Baby swallow, you are using a major bullish break of resistance, as long term shorting opputunity? What could you possibly see in this market that would make you want to short? Other then a complete guess?

You want to follow strength, and where has strength been the last 18 months? In demand, im not saying go and buy everything now, but i wouldnt be opening any long term shorts, thats for sure. Not until i can identify strength in supply.

 

[Trembling Hand]

Baby swallow, you are using a major bullish break of resistance, as long term shorting opputunity? What could you possibly see in this market that would make you want to short? Other then a complete guess?

You want to follow strength, and where has strength been the last 18 months? In demand, im not saying go and buy everything now, but i wouldnt be opening any long term shorts, thats for sure. Not until i can identify strength in supply.

I wouldn't dump on the idea just because its a break. I would guess that by the time we get over 5000, well over, we will be actually pretty worn out. Wouldn't be the first time a lot of energy has gone into breaking an "important" level to then tank back into the range.

 

[baby_swallow]

Baby swallow, you are using a major bullish break of resistance, as long term shorting opputunity? What could you possibly see in this market that would make you want to short? Other then a complete guess?

You want to follow strength, and where has strength been the last 18 months? In demand, im not saying go and buy everything now, but i wouldnt be opening any long term shorts, thats for sure. Not until i can identify strength in supply.

sorry LKR i didnt explain myself clearly.
First of all, i'm a daytrader, so I rarely hold overnight position, except shorts on big signals. When I say "long term shorts" I meant up to 3 days the most.
You're right, that is a major bullish break. But every bullish break when price get over extended, (ie. late comers taking up long position), its followed by a retracement. Thats where I come in.

 

[baby_swallow]

I wouldn't dump on the idea just because its a break. I would guess that by the time we get over 5000, well over, we will be actually pretty worn out. Wouldn't be the first time a lot of energy has gone into breaking an "important" level to then tank back into the range.

Amen, Trembling Hand, Amen.

 

[LKR]

I wouldn't dump on the idea just because its a break. I would guess that by the time we get over 5000, well over, we will be actually pretty worn out. Wouldn't be the first time a lot of energy has gone into breaking an "important" level to then tank back into the range.

Im not saying it won't happen, i stated that once evidence appears that strength now lies in the downside i would then position. Im not going to take a short at 5000 just because i "think" its an important swing level. I need evidence.

You could have done the same thing at the magic "80" cent level AUD/USD.

But your right, alot of effort has gone into this latest rally. We will run out of "energy" soon. Just got to wait to identify the signs.

 

[LKR]

sorry LKR i didnt explain myself clearly.

Lol when you say to me long term, i assume 8 - 12 months, not 3 days.

Which is why i was gob smacked at your long term short view on no long term reversal evidence.

 

[skyQuake]

I wouldn't dump on the idea just because its a break. I would guess that by the time we get over 5000, well over, we will be actually pretty worn out. Wouldn't be the first time a lot of energy has gone into breaking an "important" level to then tank back into the range.

personally at 5000 i would be monitoring the progress of "Buy with Open arms" threads here and across the street.

 

[Edwood]

First of all, i'm a daytrader, so I rarely hold overnight position, except shorts on big signals. When I say "long term shorts" I meant up to 3 days the most. But every bullish break when price get over extended, (ie. late comers taking up long position), its followed by a retracement. Thats where I come in.

Did you hear about the trader called Ivan?

 

[ezylay]

I am new to this, I just wanted to share with you all something I found helpful and technical and for free about trading the SPI Futures
The levels are done pre market and they seem on the mark.

I thought since it was free and non-affiliated and many can benefit from it, if not even worth a look.

I did not mean to upset the authorities here as I got a warning..

I apologies…..

 

[baby_swallow]

Did you hear about the trader called Ivan?

nope... what about him?
________________________________________________________
Leopards break into the temple and drink to the dregs what is in the sacrificial pitchers; this is repeated over and over again; finally it can be calculated in advance, and it becomes a part of the ceremony - Kafka

 

[skyQuake]

nope... what about him?

Running joke among ASFers, start at post 1 of this thread.

 

[johnnyg]

Anyone heard from Ivan lately? And how he's going? Only sorta relation I can find to this thread is a post from him on a Facebook FML thread saying he dropped 200K in a week.

Hope he's going OK.