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Trading The SPI - NON-Gann Techniques

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Your MAs have crossed up for a long entry, but the trend lines are suggesting a short entry might be smarter, tricky situation for a learner.
 
Broadway said:
Your MAs have crossed up for a long entry, but the trend lines are suggesting a short entry might be smarter, tricky situation for a learner.
Click to expand...

Using MA's in the traditional sense(buy when x crosses y) can be a recipe for disaster, especially on intraday timeframes. A choppy day will have you buying every top and selling every bottom.

They are a good general guide however, and the right MA can show some pretty interesting support/resistance characteristics, and give subtle hints about o/bought+o/sold conditions
 
Broadway said:
Your MAs have crossed up for a long entry, but the trend lines are suggesting a short entry might be smarter, tricky situation for a learner.
Click to expand...

you could add a 1day MA to help keep you onside, which in this case is sort of being achieved via the trend line anyway - a 360 min MA - only take longs above that & shorts below it - or fades back to the MA from extensions (o/bought / o/sold) as well as gap opens depending on your attitude to risk.

but best to start with the 1day MA imo & watch the action around that before you add other bits
 
I guess thats why I see a few 20 MAs on charts with 15 minute periods, because that represents a 5 hour period, which is about a day's trading anyway ( hence a 1 day MA or the 360 min MA you are eluding to.)

By trading the opening gaps, do you mean if it gaps up, enter short at open or soon after, and watch it move back down to the previous days close?
 
Edwood said:
gap above around the 1.618 level but overall looking bearish

Click to expand...

nice impulsive action now - we could be looking at the start of a bigger 3 down don't want to get ahead of myself tho.... need to come through 6,260 really to indicate its possible & then print new lows obviously, past 6,217 on the above
 
professor_frink said:
Dunno bout a "wealth of futures knowledge"

But thanks anyway

Yeah weaker start, but we have what could be a double bottom with the o/n session right at the daily pivot point.
Click to expand...

Jeez it rejected that bull run.


Straight back down

Any of you catch that short?

Chart with couple entry's Frink I am using bars now on FT system like it more then candles.

I look to take first retracement after cross only ad one cont trade. try to take at least 5 points out of each trade.

I did not trade those this morning.
 

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bars,candles, they all show the same info
 
yep I'm short, leaving it in - 3's & C's are what you want to be in - also short Dax fwiw

we were below the 1day tho so longs from earlier for me would only have been on a gap down looking for some retrace of the gap. was in a meeting during open tho
 
getting real nasty now. 75 didn't hold too long as a possible support area. 45-50 may offer some support(if it gets that far)
 
yeah my numbers will be different to yours on this cos I'm on my spreadbet a/c in the office - price is more like the XJO / ASX200 values than SPI so apologies for any confusion

seems to be getting some momentum going now... which is nice
 
[FONT=Arial,Helvetica,sans-serif]Chinese stocks plummet five percent at opening on Wednesday after an announcement of a hike in stamp tax on stock trading.
The benchmark Shanghai Composite Index opened lower at 4087.41 points, 247.51 points, or 5.78 percent down from Tuesday's close.
The Ministry of Finance announced Tuesday night the stamp tax on stock trading will rise to 0.3 percent from 0.1 percent starting from Wednesday, in the authorities' latest move to cool down the country's runaway equity market.
[/FONT]
 
oo-er missus! nice move!

hope no-one is trying to long this....
 
Edwood said:
oo-er missus! nice move!

hope no-one is trying to long this....
Click to expand...

It could find a bit of support here

But I wouldn't buy it!

If it carries on south from here, I have the next potential support level @ 30. If that breaks, I have no clue- I'll need to fire up a chart with the entire contract's data on it to find something
 
a drop to 6,000 would be about a 4% move - maybe 6,150 would do it for now

too early to talk about targets yet tho, gotta take out the recent lows first
 
professor_frink said:
It looks to have found a bottom for a little while at least. Personally, I'd be a bit wary of trying go long after such a big move down, but that's just me.
Click to expand...

wise words Prof am still short over here - it likes to trend does the ASX, best to leave bottom picking to the monkeys
 
right closed for now - we've hit the 2,618 extension of wave 1 or A so looks like a fair place for a bounce. could go lower but we're near the recent lows - will get back in if we continue, but waiting to see if we get some retrace first

nice afternoon!
 
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