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Trading The SPI - NON-Gann Techniques

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Looking for the 5th leg to get a possible short into the close...
Cheers
.........Kauri
 

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Kauri said:
Looking for the 5th leg to get a possible short into the close...
Cheers
.........Kauri
Click to expand...

Im just gonna shoot out some questions about todays action, maybe someone can answer.:)

1. Did anyone anticipate this sort of action today? And if so, what hinted that such a trend would occur? Especially breaking the 6200 resistance that was supposed to be with us for a while.

2. Is that manual EW numbering or is a program doing that for you?

3. If it is manual, do you find yourself renumbering in hindsite to make more sense of it? Especially if you change time periods, from say 1 min to 2 minutes as the day gets longer?

4. What trades are you looking for, that is, what do you consider low risk entrys? eg, trying for 3 waves, or fading 5 waves? Or trying to jump on 1 waves if possible?

5. Finally, did anyone else see today as an uptrend, followed by a squeeze/pennant(ending at 1230), followed by a breakout (a damn long one!) and then another sqeeze(at 330), followed by a final breakout into the close? Perhaps those that did trade today could reveal where they entered and why?

Thankyou in advance to anyone who puts forward some answers.
 
prof,
thanks.
thought it may have been specifically for Index's
Dont really want to try and learn yet another system, but i am interested.
 
DAZT49 said:
prof,
thanks.
thought it may have been specifically for Index's
Dont really want to try and learn yet another system, but i am interested.
Click to expand...

no it can be used pretty well anything. EW is a lot of work-you'd need a couple of years of serious effort to get to the point where you can use it effectively.

Broadway,

I didn't trade today, so comments are all with the benefit of hindsight, but if you were watching the rest of the asian markets and the yen, you would have seen nothing but rallies in the other major markets, and the yen futs falling all morning. When we get crazy swings like we are currently, I find that keeping an eye on the rest of the region pretty important, as it can give some good clues about the direction for the day.
 
the basics are the key tho - 3's & C's are long & strong. 2's & 4's usually vary

and always best to count 1-2's than complete 5's

hat tip to Nick R for calling the count out of the bottom late last week / early this, I'm just going with that one really but it did set up nicely into the 4
 
f 39 holds here, we are looking at strong resistance above at 63..once she can get over that..she will be after 90..once again resistance..then over that..the try will be for syco 99..
see how the day pans out..
good trades
ac
 
tested 63 twice now..next tickle up there she should go through.., once over the syco high of 6299..she will be after 6310 resistance there, once above that, then we are after 6360..

ac
 

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nice work acouch :) - I gather you're using a number of pitchforks there, what else is in there if you don't mind me asking?
 
yes it is good to have pleasant things to look at when working, from a blokes perspective that is :)

anyway I digress, and supposed to be watching the Dax so bye for now
 

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