Trading The SPI - NON-Gann Techniques

[MRC & Co]

Any thoughts?

My thoughts, just based on pure price action alone, from this moment, would be a high of around 3800s.

That being said, a lot depends on the overseas markets, and particularly the outcome of the RIO deal, if it is approved, the miners could, should and probably will, do some serious business and push the market even higher. Then again, buy the rumour, sell the fact? Does happen and is something that has to be watched, but from the reaction of the ACCC approval even though they were not really a concern, I would say an approval will cause a buy situation and a further rally.

Will have to wait and see who comes in to alter things day by day, which is one reason I HATE EOD trading these days, as you take a view which can all change at any instant and you get massive slippage from gapping, not dynamic and not a live environment.

 

[acouch]

morning all
today;s road map
have a great day nad good trades
ac

 

[Bobby]

I HATE EOD trading these days, as you take a view which can all change at any instant and you get massive slippage from gapping, not dynamic and not a live environment.

Well said !

 

[acouch]

morning all,
today's road map
have a great day and good trades
ac

 

[Trembling Hand]

Rope a big bloody dope today hey??

Never stand in front of the Boyz doin biznesssssss... Especially their quarter end markup.

 

[Mr J]

Rope a big bloody dope today hey??

No idea what you mean, but it sounds like it wasn't a great trading day. There was some profit to be had.

 

[acouch]

seeing this is a new road map,
this is how it went today..
enjoy your evening
ac

 

[MRC & Co]

Rope a big bloody dope today hey??

Never stand in front of the Boyz doin biznesssssss... Especially their quarter end markup.

L O L

A very interesting day.

At least volatility has been back lately and the higher the SPI can rally, the better for us

 

[CanOz]

L O L

A very interesting day.

At least volatility has been back lately and the higher the SPI can rally, the better for us

Mr.C - do you or anyone else trade the DAX or the NQ, ES, etc. using the same scalping methods?

Cheers,


CanOz

 

[Trembling Hand]

Mr.C - do you or anyone else trade the DAX or the NQ, ES, etc. using the same scalping methods?

CanOz some of the commodities are great for tape reading. I like the GC. I struggle with something like the ES as its so thick I find it hard to get a read. But I'm not surprised I have spent about 0.00001 % of my time looking at it.

 

[MRC & Co]

CanOz some of the commodities are great for tape reading. I like the GC. I struggle with something like the ES as its so thick I find it hard to get a read. But I'm not surprised I have spent about 0.00001 % of my time looking at it.

Exactly TH.

All are tradable with the same methods (I don't trade them, but I know of guys who trade the ES and DAX with the same style), but of course, you would have to trade each slightly different depending on the individual market. I.e. you can run positions further on the HSI, as opposed to SPI. One has clear breakouts, the other doesn't and each have differening ways they open, lunch periods, close etc.

 

[CanOz]

Exactly TH.

All are tradable with the same methods (I don't trade them, but I know of guys who trade the ES and DAX with the same style), but of course, you would have to trade each slightly different depending on the individual market. I.e. you can run positions further on the HSI, as opposed to SPI. One has clear breakouts, the other doesn't and each have differening ways they open, lunch periods, close etc.

Thanks fellas,

I think i should fire up my sim account again on IB and have a go at getting some screen time etc.

I wonder about ETFs as well, maybe something like QQQQ would be of value to look at. Although its more expensive to trade than the futs yes?

Still should only be 6.0 each way.

Just interested in something to help train my eyes for the things to look for while the evenings are available for me.

CanOz

 

[acouch]

Good morning all
today's road map
have a great day and good trades
ac

 

[Mr J]

Opinions on the SPI during lunchtime?

 

[skc]

My punt is that it will stay below acouch's Line in Sand (~3598) - right on it as we speak...

 

[Trembling Hand]

My punt is that it will stay below acouch's Line in Sand (~3598) - right on it as we speak...

Ya reckon. we could easily see a rotation up to 3617

 

[skc]

Are we talking about by end of day or just during lunch time? I was clearly referring to lunch time only - and I have just finished my lunch

I was simply guessing base on that the second leg of the trend (from 3573 an hour ago) has gone the same distance as the first one (from 3554 to 3586), and that larger sell orders are popping up on the DOM. Actually, that would put it at 3605, just above the LIS.

Mr J - You look like you are new to this forum. Now you know who to listen to when it comes to SPI...

 

[Mr J]

I actually just meant reguar activity during lunchtime. I've heard markets tend to slow down and pick up mid afternoon. I've been trading the ES during US hours so far (I love the liquidity), but I'm hoping that I can do something with the SPI so I can keep more regular hours.

Mr J - You look like you are new to this forum. Now you know who to listen to when it comes to SPI...

New to trading as well.

 

[rapt88]

Good morning all
today's road map
have a great day and good trades
ac

Hi acouch,

I would like to thank you for your ongoing postings of your ML charts. It is because of these that I have revisited ML (having so quickly dismissed it as a valid methodology too many years ago). I find Tim Morge's sites are well worth the visit.

Looking at my attached charts, seeing EPs 1 and 2, I find it hard not to get excited by EPs 3 and 4.





I would be pleased to hear your view and comment on this and the broader picture.

Rapt88

 

[acouch]

Hi acouch,

I would like to thank you for your ongoing postings of your ML charts. It is because of these that I have revisited ML (having so quickly dismissed it as a valid methodology too many years ago). I find Tim Morge's sites are well worth the visit.

Looking at my attached charts, seeing EPs 1 and 2, I find it hard not to get excited by EPs 3 and 4.

View attachment 29083

View attachment 29084

I would be pleased to hear your view and comment on this and the broader picture.

Rapt88

very good charts rapt88
and as you can see where the ML's cross you have confluence..very strong support/resistance..as with the road map..
i am glad that i have been of some help to jog your memory with the Andrews..a simple tool, but worth its weight in gold..

great trades
ac