Australian (ASX) Stock Market Forum

Trading The SPI - NON-Gann Techniques

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Didn't take it ... but setup was failed to break VAH in day and intraday, then broke through latest POC @ 59 in the down direction. Came back to test and gave another opportunity to short around 59, before heading lower.
Setup with a good tight s/l would have worked well, but didn't pull the trigger!!
 
Hi there Euler any mp points for today ?How are you working out your points ,with a mp calculator or a proper program ?

Nathan
 
nat said:
Hi there Euler any mp points for today ?How are you working out your points ,with a mp calculator or a proper program ?
Nathan
Click to expand...
Today incl. SYCOM data POC 5365 bracket 5344-5374
Using a little proprietary calculator

Price action so far well above the VAH. Didn't take a position this am.
 
Euler said:
Price action so far well above the VAH. Didn't take a position this am.
Click to expand...
Ran away ... wasn't with it!! May be a sign to take the rest of the day off!!
 
Thanx for that, certainly some exuberence this morning, entered on pullback just before ten got a big 3 points then watched market take off, not game to enter again yet. Discipline my biggest problem, pre empting moves and getting out instead of sticking to trailing stop.always another day. Nathan.
 
hey chaps, spit referred me over to this thread (thanks for that spit :) ) have recently moved to NZ from the UK & planning to get into Aus indices so hoping you all may be willing to shed some local knowledge re: the behaviour of your market! interested to find out the typical sort of stuff

- any better times of day to be around? e.g., openings, after lunch, when Asia comes on line? and any general comments about those times?0
- any observations re: the impact Dow / SPX have on XAO?
- do you find fib levels and Elliott patterns apply?

obviously I'll be spending time reviewing the action & answering these for myself, but always good to hear others views.

fwiw I mainly use a momentum strategy around a simple moving average supported by a couple of oscillators & a bit of loose Elliott. aiming to get into the market in the next week or so but just finding my feet & doing some research for the moment. any comments / advice much appreciated!

cheers, Ed
 
- any better times of day to be around? e.g., openings, after lunch, when Asia comes on line? and any general comments about those times?0
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Most days, the opening hour and a half is good fun to trade. Large opening gaps aren't uncommon. You can also get some good moves in the last hour or so. Lunchtimes can be pretty dull though.
In regards to the rest of Asia opening- the nikkei opens about 11am Australian time. I've not noticed enough of an influence to base any trading decisions on it opening. The Hang Seng opens around our lunchtime period, so it doesn't have to be worried about much.
- any observations re: the impact Dow / SPX have on XAO?
Click to expand...
yes it will have an impact on the open. Commodities action is something you will have to watch trading here as well.
- do you find fib levels and Elliott patterns apply?
Click to expand...
Dunno, don't really use them intraday. Have read other comments on the board bout others making calls with them. Have a look at a call made on this thread a few months ago. Others are using them to trade the index, so I suppose you could too :)
fwiw I mainly use a momentum strategy around a simple moving average supported by a couple of oscillators & a bit of loose Elliott. aiming to get into the market in the next week or so but just finding my feet & doing some research for the moment. any comments / advice much appreciated!
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momentum is good. We can offer lots of that here :D
Hope this helps a bit Ed
 
Sorry for butting in all .... thought I'd post up this one. Going to take an early short position. 5150 could be touched again from here. Dojo day today and relative weakness on the oscilator + the DOW looks like it is due for a rest.
 

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cheers for that Prof, FTSE is quite similar re: the opens, tends to overract to US overnight so the first couple of hours are often good then quiet until US opens & US tends to lead (until it doesn't :))

Dow's off 150 today Dutchy - short should be a good call for you!
 
US whackage!!

Dow -~160

SP500 -~20

Naz -~42

I was beginning to think we'd never see a decent down day ever again!

Have fun today you index riders :D
 
Edwood said:
cheers for that Prof, FTSE is quite similar re: the opens, tends to overract to US overnight so the first couple of hours are often good then quiet until US opens & US tends to lead (until it doesn't :))

Dow's off 150 today Dutchy - short should be a good call for you!
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no worries Ed. Good Luck with it all.

Interesting call Dutchy3. A bit more intraday volatility would certainly be around if your call is right, so I'm hoping you are. :)

WayneL said:
US whackage!!

Dow -~160

SP500 -~20

Naz -~42

I was beginning to think we'd never see a decent down day ever again!

Have fun today you index riders :D
Click to expand...
:xyxthumbs :dance:
 
aye its about time alright, perhaps Aus is leading the rest on this move! i.e., in that it came off a week or so ago & looks to be putting in a lower high.

looking at the 6 month chart I'd like to see XAO confirm a lower high before getting too excited tho
 
Market has been going sideways for awhile. I wonder what will happen when the big guys get back from lunch.

MIT
 

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