The transition to Futures trading

[dlineinvestor]

Had the day today to watch the SPI today and I am attempting to watch the action and analyse as TH did the other day.

One of the problems I am having is where to start. I have no idea if the initial volume is the big boys accumulating or taking profit from previous entries, maybe both haha

In response to your "where to start"
Try using and buying the break of any trendlines, this is a good start and has a high probability for at least a scalp on lesser time frames .... if not a nice swing on higher time frames. Forget everything else .... Just make sure your money management is right first ! or paper trade it etc

 

[fiftyeight]

Running into the resistance at 5325-5350, a strong past few days and a small move up last night. I would expect some profit taking from the longs and possibly some new short entries looking for a good spot to enter with the negative sentiment at the moment.

So, a negative day but with no real range as the longs will be looking for max profit and the new shorts will be hesitant until there is some real direction

 

[fiftyeight]

In response to your "where to start"
Try using and buying the break of any trendlines, this is a good start and has a high probability for at least a scalp on lesser time frames .... if not a nice swing on higher time frames. Forget everything else .... Just make sure your money management is right first ! or paper trade it etc

Cheers DL, just watching today. I meant "where to start" with my analysis, as you need to base everything else off of some starting point. I think

 

[Trembling Hand]

In response to your "where to start"
Try using and buying the break of any trendlines, this is a good start and has a high probability for at least a scalp on lesser time frames .... if not a nice swing on higher time frames. Forget everything else .... Just make sure your money management is right first ! or paper trade it etc

This is classic T/A 101 blah blah that doesn't work. Where is the context of what we will actually have today?

Running into the resistance at 5325-5350, a strong past few days and a small move up last night. I would expect some profit taking from the longs and possibly some new short entries looking for a good spot to enter with the negative sentiment at the moment.

So, a negative day but with no real range as the longs will be looking for max profit and the new shorts will be hesitant until there is some real direction

Well I can tell you that just about everyone that provides the volume and therefore where the market will be going is waiting for 1:00 pm today. Maybe start there.

 

[avion]

Gut feel says go long, head says, economy sucks go short...

 

[fiftyeight]

Well I can tell you that just about everyone that provides the volume and therefore where the market will be going is waiting for 1:00 pm today. Maybe start there.

Haha, that would explain the nothing day they. Cheers

 

[dlineinvestor]

Cheers DL, just watching today. I meant "where to start" with my analysis, as you need to base everything else off of some starting point. I think

Ok thought you meant about trading aspect...np

 

[dlineinvestor]

This is classic T/A 101 blah blah that doesn't work. Where is the context of what we will actually have today?

Yeah sure if the question was clear I wod have answered differently.
Trendlines "do work ! Especially on longer time frames. As I mentioned good enough for a scalp on shorter time frames.
Oh look 12:45 t line break ! Even before the announcement, long for a 5 scalp out.
Alot of ppl would disagree with you including me that tlines are mumbo jumbo

 

[>Apocalypto<]

...

Nice action on the HSI today caught two buys and a sell... but tried to sell and buy it on open so still down 4 pts.

very nice moves.

 

[>Apocalypto<]

Yeah sure if the question was clear I wod have answered differently.
Trendlines "do work ! Especially on longer time frames. As I mentioned good enough for a scalp on shorter time frames.
Oh look 12:45 t line break ! Even before the announcement, long for a 5 scalp out.
Alot of ppl would disagree with you including me that tlines are mumbo jumbo

for me the action behind the trend break is more important then the trend break its self. I used to go by trend breaks solely with very 50/50 hits... now i try to really think about the set up of price before the break to give the break more legitimacy. goes for momentum ideas as well.

still work in progress for me. what action tells you a move might be a move or wont be a move. before the signal

 

[Trembling Hand]

Nice action on the HSI today caught two buys and a sell... but tried to sell and buy it on open so still down 4 pts.

very nice moves.

Yeah she is always a wild ride come October on the HSI. 100 points in a few minutes is almost getting boring. :22_yikes:

 

[>Apocalypto<]

Yeah she is always a wild ride come October on the HSI. 100 points in a few minutes is almost getting boring. :22_yikes:

just learned the hard way not to have tight stops... on the current move down.

re entered worked out well. i can see why you trade it TH, when it gets going it really runs.

 

[pavilion103]

Made 20 on the initial drop.

Reversed got a long at 6209.

Single contract

 

[pavilion103]

Looks very bullish.

The push up following last week's base?

Not sure what to do with the one contract! Whether it's worth holding this into the night.

 

[pavilion103]

Out at 6302.

That's about 90 points for that contract.

Simply exited because such large open profit and only trading 1 contract. Exited on a little push up.

If I had a second I'd hold for sure!

 

[pavilion103]

Argh I knew it.
Annoying!

This is not the market to be conservative in.

Should have taken 2. No idea why I didn't.

Great opportunities at the moment!

 

[fiftyeight]

90 points is better than sitting on a plane and missing everything

SPI today hmmmm. Still at that 5350ish range, on no big volume over the past 2 days. Will today be the day volume come back? Will that be higher or lower or will it just range?

My gut say a sideways day, slightly bearish but..... This is going to a long process haha

 

[fiftyeight]

Short at 3561, with my slightly bearish bias, and it was in a well defined range on the 1 min chart. I sold at the top of the range with a tight stop as something I am trying out from previous posts

 

[pavilion103]

Thinking a long around the 30 area.

I'm not at the screen though.

 

[fiftyeight]

I have that area marked out on my chart as well