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Trading The SPI - NON-Gann Techniques
- Thread starter wayneL
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Good Morning,
The SPI200 Sept 09 contract traded back into the 4240 to 4296 development on the open yesterday, trading to the development high, before rotating back to the low side of the development 4249. A late session rotation higher triggered a responsive sell tail at 4303 to close out at 4291.
Overnight the market once again attempted to distribute higher to trigger another responsive sell tail at 4320, and rotate back into the development where a responsive buy tail at 4270 rejected the break and the market closed back in the development this morning. The market is balanced.
Resistance is at 4280, 4288, development high 4296, 4302, 4318, 4325, 4334, 4349, 4363. Support at 4270, previous point of control 4263, 4249, 4242, 4234, 4228, 4220.
The previous session value area was 4215 to 4270 and is currently 4279 to 4306.
Have a good day.
Aliom Pty Limited (ACN 123 876 291 AFSL 323182) does not warrant the accuracy, completeness or correctness of any information herein. In preparing this post, Aliom Pty Limited has not taken into account the investment objectives, financial situation or particular needs of any particular person. Before making an investment decision on the basis of information in this post you should consider whether the information is appropriate in light of your particular investment objectives, financial situation or particular needs. You may wish to consult a licenced advisor or accountant to assist your decision.
The SPI200 Sept 09 contract traded back into the 4240 to 4296 development on the open yesterday, trading to the development high, before rotating back to the low side of the development 4249. A late session rotation higher triggered a responsive sell tail at 4303 to close out at 4291.
Overnight the market once again attempted to distribute higher to trigger another responsive sell tail at 4320, and rotate back into the development where a responsive buy tail at 4270 rejected the break and the market closed back in the development this morning. The market is balanced.
Resistance is at 4280, 4288, development high 4296, 4302, 4318, 4325, 4334, 4349, 4363. Support at 4270, previous point of control 4263, 4249, 4242, 4234, 4228, 4220.
The previous session value area was 4215 to 4270 and is currently 4279 to 4306.
Have a good day.
Aliom Pty Limited (ACN 123 876 291 AFSL 323182) does not warrant the accuracy, completeness or correctness of any information herein. In preparing this post, Aliom Pty Limited has not taken into account the investment objectives, financial situation or particular needs of any particular person. Before making an investment decision on the basis of information in this post you should consider whether the information is appropriate in light of your particular investment objectives, financial situation or particular needs. You may wish to consult a licenced advisor or accountant to assist your decision.
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hmmmm.probability of being profitable trading based on these 'road maps' of possible support and resistance from 45 degree lines that seem to be drawn totally random??
hi blackfred
the lines eg: pitchforks are not drawn at random..they stem from the beginning of the contract,
and carried forward into time..
and as you can see if you follow, they are pretty accurate..
such a simple tool and works so well..
next quarter a new set will be placed and carried forward each day for the dec contract..
have a great day
and take care
ac
Good Morning,
On Friday the SPI200 Sept 09 contract traded lower to the previous session point of control at 4233, where responsive buying took the market higher into the current 4240 to 4296 development.
The Friday night session saw the market again reject a move to the downside with responsive buying at 4221. An initiating buy tail triggered at 4269 and the market extended to 4322 the trigger of a responsive sell tail, that saw the market rotate lower for the remainder of the session. The market has rejected a distribution through 4320/22 on two consecutive sessions, although the close above the 4240 to 4296 development indicates the market isn’t balanced and may attempt another distribution higher.
Key resistance is current point of control 4315, 4322, 4334, 4349, 4363, 4386, 4392, 4417 and prior point of control 4432/39. Key support at 4302, 4296, 4288, 4280, 4269 initiating break level, 4260, 4249, 4233 and 4228.
The previous session value area was 4250 to 4299 and is currently 4243 to 4310.
Have a good day.
Aliom Pty Limited (ACN 123 876 291 AFSL 323182) does not warrant the accuracy, completeness or correctness of any information herein. In preparing this post, Aliom Pty Limited has not taken into account the investment objectives, financial situation or particular needs of any particular person. Before making an investment decision on the basis of information in this post you should consider whether the information is appropriate in light of your particular investment objectives, financial situation or particular needs. You may wish to consult a licenced advisor or accountant to assist your decision.
On Friday the SPI200 Sept 09 contract traded lower to the previous session point of control at 4233, where responsive buying took the market higher into the current 4240 to 4296 development.
The Friday night session saw the market again reject a move to the downside with responsive buying at 4221. An initiating buy tail triggered at 4269 and the market extended to 4322 the trigger of a responsive sell tail, that saw the market rotate lower for the remainder of the session. The market has rejected a distribution through 4320/22 on two consecutive sessions, although the close above the 4240 to 4296 development indicates the market isn’t balanced and may attempt another distribution higher.
Key resistance is current point of control 4315, 4322, 4334, 4349, 4363, 4386, 4392, 4417 and prior point of control 4432/39. Key support at 4302, 4296, 4288, 4280, 4269 initiating break level, 4260, 4249, 4233 and 4228.
The previous session value area was 4250 to 4299 and is currently 4243 to 4310.
Have a good day.
Aliom Pty Limited (ACN 123 876 291 AFSL 323182) does not warrant the accuracy, completeness or correctness of any information herein. In preparing this post, Aliom Pty Limited has not taken into account the investment objectives, financial situation or particular needs of any particular person. Before making an investment decision on the basis of information in this post you should consider whether the information is appropriate in light of your particular investment objectives, financial situation or particular needs. You may wish to consult a licenced advisor or accountant to assist your decision.
Hi acouch i try the Andrew's pitchfork but i am not sure how to plot it do you start plotting it on every start of the day before i am using 5 minute charts .I plot the pich fork on todays trading .
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this site will be of help to you moneyking..
you will have to log in..but it is a free forum..
http://www.marketgeometry.com/forum/indexo.php
for my road map i only extend the pitchforks that have been on the chart since the beginning of the contract..
but for day or intra..you can place them a.b.c ..but you are not held to one set of pitchforks if they are not following the plot..
as the market does'nt stay the same, as we all know..
but i think you will get a better handle of the andrews pitchforks on that site i have given you above
take care
ac
this site will be of help to you moneyking..
you will have to log in..but it is a free forum..
http://www.marketgeometry.com/forum/indexo.php
for my road map i only extend the pitchforks that have been on the chart since the beginning of the contract..
but for day or intra..you can place them a.b.c ..but you are not held to one set of pitchforks if they are not following the plot..
as the market does'nt stay the same, as we all know..
but i think you will get a better handle of the andrews pitchforks on that site i have given you above
take care
ac
Thanks very much this marketgeometry is exactly what i was looking for
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Good Morning,
The SPI200 Sept 09 contract failed to distribute higher yesterday to trade back into the current established development. Overnight a responsive sell tail triggered at 4278 and responsive buy tail at 4248, sees the market continue the trade within the 4240 to 4296 development and is balanced.
Resistance levels today 4264, 4271, 4278, 4288, 4296, 4302, 4316, 4322 and 4334. Support levels at current point of control 4260, 4249, 4242, 4234, 4228, 4220, 4209, 4196 and 4188.
The previous session value area was 4252 to 4309 and is currently 4254 to 4270.
Have a good day.
Aliom Pty Limited (ACN 123 876 291 AFSL 323182) does not warrant the accuracy, completeness or correctness of any information herein. In preparing this post, Aliom Pty Limited has not taken into account the investment objectives, financial situation or particular needs of any particular person. Before making an investment decision on the basis of information in this post you should consider whether the information is appropriate in light of your particular investment objectives, financial situation or particular needs. You may wish to consult a licenced advisor or accountant to assist your decision.
The SPI200 Sept 09 contract failed to distribute higher yesterday to trade back into the current established development. Overnight a responsive sell tail triggered at 4278 and responsive buy tail at 4248, sees the market continue the trade within the 4240 to 4296 development and is balanced.
Resistance levels today 4264, 4271, 4278, 4288, 4296, 4302, 4316, 4322 and 4334. Support levels at current point of control 4260, 4249, 4242, 4234, 4228, 4220, 4209, 4196 and 4188.
The previous session value area was 4252 to 4309 and is currently 4254 to 4270.
Have a good day.
Aliom Pty Limited (ACN 123 876 291 AFSL 323182) does not warrant the accuracy, completeness or correctness of any information herein. In preparing this post, Aliom Pty Limited has not taken into account the investment objectives, financial situation or particular needs of any particular person. Before making an investment decision on the basis of information in this post you should consider whether the information is appropriate in light of your particular investment objectives, financial situation or particular needs. You may wish to consult a licenced advisor or accountant to assist your decision.
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Good Morning,
The SPI200 Sept 09 contract continued to trade within the established development through the morning yesterday. A mid afternoon initiating buy tail off 4292 had the market distribute and close above the development. Overnight the market succumbed to responsive selling early to trade back into the development, with an initiating sell tail triggered at key level 4296. Two way action through the morning sees the market close at 4275.
The established development is now 4240 to 4322. A double distribution to the downside overnight indicates potential for further weakness.
Resistance levels current point of control 4276, 4282, 4288, 4296, 4302, 4316, 4322, 4334, 4349. Support levels 4271, previous session point of control 4261, 4249, development low 4240, 4234, 4228, 4220, 4214, 4196, 4182.
The previous session value area was 4254 to 4282 and is currently 4274 to 4308.
Have a good day.
Aliom Pty Limited (ACN 123 876 291 AFSL 323182) does not warrant the accuracy, completeness or correctness of any information herein. In preparing this post, Aliom Pty Limited has not taken into account the investment objectives, financial situation or particular needs of any particular person. Before making an investment decision on the basis of information in this post you should consider whether the information is appropriate in light of your particular investment objectives, financial situation or particular needs. You may wish to consult a licenced advisor or accountant to assist your decision.
The SPI200 Sept 09 contract continued to trade within the established development through the morning yesterday. A mid afternoon initiating buy tail off 4292 had the market distribute and close above the development. Overnight the market succumbed to responsive selling early to trade back into the development, with an initiating sell tail triggered at key level 4296. Two way action through the morning sees the market close at 4275.
The established development is now 4240 to 4322. A double distribution to the downside overnight indicates potential for further weakness.
Resistance levels current point of control 4276, 4282, 4288, 4296, 4302, 4316, 4322, 4334, 4349. Support levels 4271, previous session point of control 4261, 4249, development low 4240, 4234, 4228, 4220, 4214, 4196, 4182.
The previous session value area was 4254 to 4282 and is currently 4274 to 4308.
Have a good day.
Aliom Pty Limited (ACN 123 876 291 AFSL 323182) does not warrant the accuracy, completeness or correctness of any information herein. In preparing this post, Aliom Pty Limited has not taken into account the investment objectives, financial situation or particular needs of any particular person. Before making an investment decision on the basis of information in this post you should consider whether the information is appropriate in light of your particular investment objectives, financial situation or particular needs. You may wish to consult a licenced advisor or accountant to assist your decision.
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Hi acounh
Thanks for the pitchfork info it works well still need to do it like yours but i will get there.Here is my chart of today on a 2-minute time frame it really helps me a lot.What is your opinion on the Ausie market it is over bode and is breaking all the so cal charting rules-I believe strongly that oversees traders is jumping on the Ausie market when the Dow-Nasdaq is falling i was up until 03h00 this morning and there was really slow orders coming in on the SP200.Rio bad news and BHP did not even evect oure market .
Thanks for the pitchfork info it works well still need to do it like yours but i will get there.Here is my chart of today on a 2-minute time frame it really helps me a lot.What is your opinion on the Ausie market it is over bode and is breaking all the so cal charting rules-I believe strongly that oversees traders is jumping on the Ausie market when the Dow-Nasdaq is falling i was up until 03h00 this morning and there was really slow orders coming in on the SP200.Rio bad news and BHP did not even evect oure market .
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Hi acouch
Thanks for the pitchfork info it works well still need to do it like yours but i will get there.Here is my chart of today on a 2-minute time frame it really helps me a lot.What is your opinion on the Aussie market it is overbought and is breaking all the so cal charting rules-I believe strongly that oversees traders is jumping on the Aussie market when the Dow-Nasdaq is falling i was up until 03h00 this morning and there was really slow orders coming in on the SP200.Rio bad news and BHP did not even effect our market .
i try not to listen to news moneyking..as usually it has already been played into the charts..
and usually i am well and truly in bed by then
i set the road map up after sycom close ..and i follow that pretty much..with a smaller time frame chart..
each day is a new day for trading..as long as it trends..and not sideways i am happy
i am glad that you are getting into andrews pitchforks..
it takes time but if you are prepared to put the time in, it will serve you well..
have a great evening
ac
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Good Morning,
The SPI200 Sept 09 contract traded within the established 4240 to 4322 development yesterday. Overnight a midsession initiating buy tail triggered off 4315, taking the market through the development high and distribute higher. Some development has taken place through the morning in a 4329 to 4361 range, although the market remains imbalanced.
Resistance levels at previous development low/high level 4349, 4363, 4370, 4386, previous points of control 4417 and 4430, 4445. Support levels at previous responsive buy tail and current POC 4333/35, 4328, 4322, 4316, 4302, 4296, 4276, 4271.
The previous session value area was 4276 to 4308 and is currently 4294 to 4344.
Have a good day.
Aliom Pty Limited (ACN 123 876 291 AFSL 323182) does not warrant the accuracy, completeness or correctness of any information herein. In preparing this post, Aliom Pty Limited has not taken into account the investment objectives, financial situation or particular needs of any particular person. Before making an investment decision on the basis of information in this post you should consider whether the information is appropriate in light of your particular investment objectives, financial situation or particular needs. You may wish to consult a licenced advisor or accountant to assist your decision.
The SPI200 Sept 09 contract traded within the established 4240 to 4322 development yesterday. Overnight a midsession initiating buy tail triggered off 4315, taking the market through the development high and distribute higher. Some development has taken place through the morning in a 4329 to 4361 range, although the market remains imbalanced.
Resistance levels at previous development low/high level 4349, 4363, 4370, 4386, previous points of control 4417 and 4430, 4445. Support levels at previous responsive buy tail and current POC 4333/35, 4328, 4322, 4316, 4302, 4296, 4276, 4271.
The previous session value area was 4276 to 4308 and is currently 4294 to 4344.
Have a good day.
Aliom Pty Limited (ACN 123 876 291 AFSL 323182) does not warrant the accuracy, completeness or correctness of any information herein. In preparing this post, Aliom Pty Limited has not taken into account the investment objectives, financial situation or particular needs of any particular person. Before making an investment decision on the basis of information in this post you should consider whether the information is appropriate in light of your particular investment objectives, financial situation or particular needs. You may wish to consult a licenced advisor or accountant to assist your decision.
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