Trading The SPI - NON-Gann Techniques

[Bronte]

Mostly Intraday prof
Now 6030 +6
E.O.M trade.
& you ??

 

[professor_frink]

Mostly Intraday prof
Now 6030 +6
E.O.M trade.
& you ??

Looking for a hold over the weekend- will see how the rest of the day pans out before deciding. Hopefully it won't go against me too much this arvo

 

[Edwood]

Just opened a short @ 35 looking for a swing down Ed We've hit some resistance @ 40, recent run up looks way too steep.

am also short but from lower down - limited to trading out of hours at the moment, doing some consulting so would be a bit rude to sit here with my system up

fwiw both McHugh & EWI have global markets about to roll over & start vomiting - mind you they are renowned bears. EWI think wave 3 down has begun in the US...

 

[Bronte]

We will be selling again at 6044
Given half a chance.
Now back to 6035/6

 

[professor_frink]

am also short but from lower down - limited to trading out of hours at the moment, doing some consulting so would be a bit rude to sit here with my system up

fwiw both McHugh & EWI have global markets about to roll over & start vomiting - mind you they are renowned bears. EWI think wave 3 down has begun in the US...

How much lower Ed? Could be a chance to add to your position

We will be selling again at 6044
Given half a chance.
Now back to 6035/6

Looks like you may get that chance Bronte. Wouldn't be too surprised to see 50 tested at some stage today.

My short's taking heat already!! If it keeps going like this I may have to start averaging down:nono:

 

[Kauri]

Another big vol day as well, the XJO is showing 427,000,000 so far at 12.00 pm.. someone is buying in big yesterday and today??

 

[Bronte]

We have seen 6043 High
Had Sell orders in since the Open at 6043/4
No fills as yet.
Now 6038

 

[>Apocalypto<]

Guys had some luck so far to day trading the IG cash200 mini XJO cuz of the lower spread 2points compared to 3 on SPI.

Going long off mini pull backs taking very small chunks but they are adding up!

Still got to get my nerves and eye right on some but overall its a success so far.

Thanks for all you help and info Elwood and Frink. Elwood i am following the trend and going with the buying flow cuz today is a up day. Look forward to hearing more about that MA u use.

My action so far entries and exits.

 

[Edwood]

Guys had some luck so far to day trading the IG cash200 mini XJO cuz of the lower spread 2points compared to 3 on SPI.

Going long off mini pull backs taking very small chunks but they are adding up!

Still got to get my nerves and eye right on some but overall its a success so far.

Thanks for all you help and info Elwood and Frink. Elwood i am following the trend and going with the buying flow cuz today is a up day. Look forward to hearing more about that MA u use.

My action so far entries and exits.

nice work Trade_It! small chunks add up to big chunks over time

 

[Edwood]

How much lower Ed? Could be a chance to add to your position

well lets just hope it holds up so I can get in later!

If it keeps going like this I may have to start averaging down:nono:

tsk-tsk (says he who may well be doing the same later )

 

[Bronte]

We have seen 6043 High
Had Sell orders in since the Open at 6043/4
No fills as yet.
Now 6038

6036 Low

 

[professor_frink]

tsk-tsk (says he who may well be doing the same later )

Only way to trade Ed- scale in till you get it some profit

 

[Edwood]

Only way to trade Ed- scale in till you get it some profit

yes I have to confess to it sometimes Prof but not my preference to be honest - have been spanked hard a couple of times doing that - probably because I got in too big too soon & didn't have a clear exit plan & couldn't think straight. if I do it now I'll start small & add aggressively when it looks like turning. still better to just be out if its going against you tho - imo

 

[Bronte]

We will be selling again at 6044
Given half a chance.
Now back to 6035/6

6045 High
Now 6036 +4 +8
Some profit taken.

 

[>Apocalypto<]

yes I have to confess to it sometimes Prof but not my preference to be honest - have been spanked hard a couple of times doing that - probably because I got in too big too soon & didn't have a clear exit plan & couldn't think straight. if I do it now I'll start small & add aggressively when it looks like turning. still better to just be out if its going against you tho - imo

Ed I know all about that , so nice seeing a compounding loss stack up!

 

[professor_frink]

yes I have to confess to it sometimes Prof but not my preference to be honest - have been spanked hard a couple of times doing that - probably because I got in too big too soon & didn't have a clear exit plan & couldn't think straight. if I do it now I'll start small & add aggressively when it looks like turning. still better to just be out if its going against you tho - imo

Yeah, if you go all in straight away, then trouble will surely follow! I've only gone in light today, so have room to add if it moves against me, but still looks good.

 

[wiseguy]

just thought i'd add my 2 cents while i wait for this lunch session to finsh
theres also a number of divergence signals developing on other time frames.

 

[>Apocalypto<]

Guy i agree it is really turing into a stage 3 top having a hard time keeping the bull runs going

i see weakness coming as well

 

[Bronte]

6045 High
Now 6036 +4 +8
Some profit taken.

Obvious Support at 6036

 

[Bronte]

Just opened a short @ 35 looking for a swing down Ed We've hit some resistance @ 40, recent run up looks way too steep.

Where did you place your stoploss professor_frink?