Trading The SPI - NON-Gann Techniques

[Edwood]

prob worth keeping that trend line in the back of the mind

 

[Broadway]

Always got good graphs ed, keep them coming.

I was in transit for the open..lol

Yep, very interesting morning.

 

[Edwood]

Always got good graphs ed, keep them coming.

I was in transit for the open..lol

Yep, very interesting morning.

cheers Broadway - just bear in mind that they have a bearish tone! that one is a classic example, couldn't help but flag potential overhead resistance!!

maybe I need therapy... anyone trying to short the ASX has to be a bit mad

 

[Broadway]

Triangle forming, I wonder if she'll break free tonight?

 

[Edwood]

was thinking the same thing Broadway - will probably follow the UK up but best to wait

 

[Edwood]

still consolidating out of hours, looking flag-ish and testing the upper boundary now

 

[Uncle Festivus]

prob worth keeping that trend line in the back of the mind

Howdy Edwood,

I dunno, it doesn't look too healthy to me. The dynamics to take it back to the old trend line will be substantial. The rate of change has backed of somewhat too, so maybe forming a new channel below the existing trendline. But very whippy now, daily ranges up & down 1-1.5%.

 

[Edwood]

hey Uncle, hope all is good!

yeah altho we're out of the trend line, given the strength in the markets overall I'm leaning towards giving the trend the benefit of the doubt and thinking this is just another correction - possibly a wave 4 - so potential for new highs to come. support has held thus far anyway

however the move down looked like a 5 to me and this action looks corrective, so theres the possibility we are in a wave 2 up - if we print a lower high I'll get excited

missed the gap open today unfortunately. tried a short afterward but stopped out for -9 so haven't touched it since. sloppy sideways not much fun...

yep the range has been good!

 

[>Apocalypto<]

Guys since there is a bigger veiwing group here i thought i would post up.

Frink excuse me i know it not exactly the SPI but it's close to it.

Chart is the IGXJO

now normal xjo is in a sidways movment as is the all ords.

Ig xjo is making new highs and is moving with its Gann line which i now call it's new trend.

I have added the new level of support (support4)

broke down resistence today and holding one more resistence target left just under 6400.

I took a position at middady but closed it out due to still wanting some extra confrimation, that this is the real thing. Its just post may and my 06 may hang over demons are still there, I keep expecting to see it fall over at any moment!

1.
I am now becoming more and more bullish. a break of the range on ALL ords and xjo will seal it for me and i am long.

2. price tests Gann line and confirms it as its support trend line long.

see what happens

 

[Broadway]

Guys since there is a bigger veiwing group here i thought i would post up.

Frink excuse me i know it not exactly the SPI but it's close to it.

Chart is the IGXJO

now normal xjo is in a sidways movment as is the all ords.

Ig xjo is making new highs and is moving with its Gann line which i now call it's new trend.

I have added the new level of support (support4)

broke down resistence today and holding one more resistence target left just under 6400.

I took a position at middady but closed it out due to still wanting some extra confrimation, that this is the real thing. Its just post may and my 06 may hang over demons are still there, I keep expecting to see it fall over at any moment!

1.
I am now becoming more and more bullish. a break of the range on ALL ords and xjo will seal it for me and i am long.

2. price tests Gann line and confirms it as its support trend line long.

see what happens

Good call if your bullish, dax etc. is going north fast.

 

[>Apocalypto<]

Well well...........

I just got ripped for 40 points did not even let it go to stop just left with my tail between my legs!

God it fell quick.

saw some bounce of the gann line took it for a sign of support entered. (confrimation is what i was missing!)

well i was caught on the gap then bang.....................

well this looks ominous now for this new trend now, unless it can pull back over.

possible double top forming neckline at 6210.

 

[Edwood]

tough luck Trade It but good discipline in killing it fast

touched the underside now sitting on spurious support - have a long on here, but only because I forgot to cancel a take profit from an earlier short!

might get some retrace of the opening gap - currently looking at a gap of around 65

 

[Edwood]

nice little rise off the lows today, hope everyone else is getting some of it

 

[Edwood]

closed long for now, probably should've left it running as Europe is bound to run up later but reckon its better in my bank than someone else's!!

 

[Edwood]

sheesh SPI down 100 out of hours on Europe & US - big gap open coming up

 

[Broadway]

sheesh SPI down 100 out of hours on Europe & US - big gap open coming up

yep,good trends last evening. This sideways movement today is a little boring. Watching the NBA instead. Im going for the underdog Cavs.

 

[Edwood]

nice gap this morning

 

[professor_frink]

Morning folks,

Rollover day this morning- new front month is the september contract.

If given a chance before HK opens, I'll be looking to get short below 6368

 

[Edwood]

Hi Prof - just sent you an email re: Hang Seng

 

[Trembling Hand]

Morning folks,

Rollover day this morning- new front month is the september contract.

If given a chance before HK opens, I'll be looking to get short below 6368

Hey Prof
Why, just out of interest, do you trade the HK markets?