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
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
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.
Ok thought you meant about trading aspect...npCheers 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
Yeah sure if the question was clear I wod have answered differently.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
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:
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