Australian (ASX) Stock Market Forum

Trading The SPI - NON-Gann Techniques

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bummer wiseguy - sometimes worth trading without stops if you think its near a turn - well, with mental stops I guess

I wonder what happened to Euler and if he's still around? would be interesting to hear what the market profile view is...
 
wicked rally, got out of my short last night for +60 but gave 22 back this morning while Dow was still open. sheesh - glad I closed my short!
 
Guys this is why i am only looking for longs while we are still in this bullish situation.

I tried to short and always get my fingers burned very quickly due to my timing.

I was thinking of you guys this morning when I went long! I hoped you where all out! Jeez did it take off!
 
My short is dead and buried- gunna leave the o/n positions to the rest of you folk and stick with intraday for awhile:)
 
professor_frink said:
My short is dead and buried- gunna leave the o/n positions to the rest of you folk and stick with intraday for awhile:)
Click to expand...

LOL! Mine too. I closed out before my stop, having gone long on another contract an hour early....figure i'd ditch one once i figured out which way the bloody thing was going. Then i took a quick profit before close on the long, only to see it shoot higher:banghead:

Oh well, cut the loss short and made a little on the long.

Funny markets these days....

Cheers,
 
Interesting chart situation to look at there is a bullish channel for sure right now on the Aussie200

I went long yesterday morning and took profits at 4:20ish

But i can see more entry's as long as it holds in this channel.


I am leaning towards the red dotted line happening but with the massive volatility at the moment who knows!
 

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so we are off to the moon! anyone for 7,000 this year? :)

looks as tho EWI and McHugh need to be added to the list of contrarian indicators... altho to be fair at least McHugh had an alternate count
 
Edwood said:
so we are off to the moon! anyone for 7,000 this year? :)

looks as tho EWI and McHugh need to be added to the list of contrarian indicators... altho to be fair at least McHugh had an alternate count
Click to expand...
Howdy Ed, hope you had a good easter.

looks a little overbought right now. Personally can't see too much upside today. Won't be trading that opinion, so don't care if I'm wrong:)

Given the current state of the market, 7,000 wouldn't surprise me, and neither would 5,000 :dunno:
 
hi Prof, Easter was good thanks, went down to one of the lakes & lazed around - just what we all needed!

I see the biggest corporate takeover in Australian history was announced today - either someone is buying in at the top, or thinks there is still some value out there...

a swing taking in 5,000 & 7,000 could be fun! :)
 
Edwood said:
hi Prof, Easter was good thanks, went down to one of the lakes & lazed around - just what we all needed!

I see the biggest corporate takeover in Australian history was announced today - either someone is buying in at the top, or thinks there is still some value out there...

a swing taking in 5,000 & 7,000 could be fun! :)
Click to expand...

I am liking 5000 as well!:D
 
What a morning went long twice and 2 great stops! Lucky they were tight or I would have undone heaps of good work from this & last week!

Jeez I was bluffed this morning! :banghead:

Any one pull any shorts? :confused:
 
hard luck Trade It, glad to hear you were playing with protection!

the opening spikes & gaps are good to get your head around with ASX - they make for some good fades. the last 4 days, including today, its traded away from the opening move for most of the session. one option is to take the fade on the spike, another to wait for a failed retest of the spike before entering.

looks as tho Dow might sell off a bit tonight as well fwiw
 
Edwood said:
hard luck Trade It, glad to hear you were playing with protection!

the opening spikes & gaps are good to get your head around with ASX - they make for some good fades. the last 4 days, including today, its traded away from the opening move for most of the session. one option is to take the fade on the spike, another to wait for a failed retest of the spike before entering.

looks as tho Dow might sell off a bit tonight as well fwiw
Click to expand...


A mighty impressive selloff, and on friday the 13th no less:eek:

Been basically the same story on the nikkei. There was just enough of a rally on the nikkei this morning to shake me out of my short:( I'm pretty wary of holding over lunch unless I'm sitting on something really nice, which given my horribly late entry, meant I didn't have too much of a cushion. well over 150 pts further south, and I'm yet to re enter! Think I'll just let it go for today.

HSI was a bit weird though today, considering what the SPI and nik were doing- it was basically chopping around from negative to positive until the nikkei re opened. I even managed a couple of longs on it!

Why do you say the DOW might sell off Ed? Looks pretty flat right now.
 

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