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Trading The SPI - NON-Gann Techniques

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Massive and unexpected move up this morning (at least by me!!). That's the problem with having pre-conceived ideas, rather than let the market show you the way.

It runs out of steam testing the all highs, though and may be a road sign to a change in sentiment "longer" term (next day or 2).

"Shorter" term (30min chart) sitting on high of the range. If rejects 5400 looking for a return to the 70's. If it breaks 00 on good volume it'll want to take out 09 (the major obstacle) and for an assault higher. The post lunch will be worth watching now!

my :2twocents worth
 
Euler said:
If it breaks 00 on good volume it'll want to take out 09 (the major obstacle) and for an assault higher. The post lunch will be worth watching now!
my :2twocents worth
Click to expand...
Got there but no volume to speak of ... yep it is lunch ... could be setting up for a fall.
spi ... prof ... if yr here would like yr thoughts.
 
Howdy Euler just got back from a lovely trip to Sydney Airport........man I hate traffic in that place- country folk like myself aren't meant to drive in peak hour Sydney traffic:D

Looks like I missed an interesting morning :(

My thoughts-
The break of 5409 was pretty weak, and on low volume. Possible short from here, but one I won't be taking at this time of day, if volume looks like it's picking up, then I may have a go.
 
Have we seen the demise of the SPI trading forum? ... pity ... maybe everyone glued to their screens and no time to devote to this forum ....

may the spi-gods be with you and good trading.
 
Euler said:
Have we seen the demise of the SPI trading forum? ... pity ... maybe everyone glued to their screens and no time to devote to this forum ....

may the spi-gods be with you and good trading.
Click to expand...
maybe....i am waiting for my new screens/system to be setp up euler so thats why i havent been posting here..because i havent been trading. unlike others who shall not be named, i thought it pointless to post unless i had a view and was trading!!
 
Market profile theory has caught my interest and with assistance of some forumites ( ... espec tech ;) ) have been playing with setups.

Today got a POC5454 and range 5464-5446. Shorted break of 5454 .. entry 5452 with s/l @ 5460. So far going well. Break of 5446 looks good. Lets see how it pans out. Looking at low 30's next.

PS ... am only using 1 contract as am uncertain of how it will pan out.
 
Euler said:
Market profile theory has caught my interest and with assistance of some forumites ( ... espec tech ;) ) have been playing with setups.

Today got a POC5454 and range 5464-5446. Shorted break of 5454 .. entry 5452 with s/l @ 5460. So far going well. Break of 5446 looks good. Lets see how it pans out. Looking at low 30's next.

PS ... am only using 1 contract as am uncertain of how it will pan out.
Click to expand...
I just found a market profile formula for amibroker yesterday, and have no idea on what any of it means!
Do you have any links or info you can pass on Euler?
 
professor_frink said:
I just found a market profile formula for amibroker yesterday, and have no idea on what any of it means!
Do you have any links or info you can pass on Euler?
Click to expand...
prof ... will post details by midday as am flat out right now ....

Trailing stop now @5440
 
professor_frink said:
well done mate.
time to celebrate :drink:
Click to expand...
Thanks Prof .... I need to now sit down and analyse the trade. Am very green in MP and need to review it fully. Am conscious that the market may have just been kind to me today (it can do that ... to drop your guard), the market conditions may have been right for the trade, maybe other entry systems may have produced the same result, .... etc. etc.

lol .. I'll analyse it well after that ..... :drink: ... with a clear head!!
 
POC from yesterday @5415 and range 29/05. Sitting on upper range without clear break ... if convincingly breaks upper band should target 53 as the 1st target ... but no conviction at the moment.

PS am questioning whether I should include o/night prices to the model.
 
Euler said:
POC from yesterday @5415 and range 29/05. ... but no conviction at the moment.
Click to expand...
no clear direction so far ... range 35/26 .... possibilities of good scalps if you are very nimble, but if not, likely to sting you .... will now wait for this afternoon
 
Euler said:
no clear direction so far ... range 35/26 .... possibilities of good scalps if you are very nimble, but if not, likely to sting you .... will now wait for this afternoon
Click to expand...
15-17 an important area ... can the tide be held back? ... reasonable volume too
 

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