Trading The SPI - NON-Gann Techniques

[wayneL]

lol! from one of the ASX traders at www.livecharts.co.uk

LOL!

So what do you call that analysis method... is there a website?

 

[Edwood]

he he ... not sure but will probably call it something like a pike fade

 

[acouch]

hahaha, very good , i like it

 

[>Apocalypto<]

lol! from one of the ASX traders at www.livecharts.co.uk

that's is fantastic AC,

very very funny!

 

[Edwood]

current count, hourly chart, looking for 6,050. dyor etc

 

[acouch]

looks good elwood..
i have 6074 on my fibtrader..

here is todays chart with support and resistance on it, i have added a upward ML as well..gap fill is at 6233 today..strong resistance on the chart is at 6228..
great trades
ac

 

[Broadway]

Goodmorning Ed and AC.

Seems to be alot of opening gap closures to the 0700 sycom lately. At least the last few days. Yesterday's opening gap closed all the way to the 1630 close of the day before as well.

Got 2 questions.

Ed - so today's early northern movement is a b wave? with a decent c wave to follow this avo?

AC - the blue up pitchfork is interesting to me, when I draw a pitchfork I need 3 points of reference. On yours, I dont understand where the middle ML has started from?

cheers.

 

[acouch]

hi broadway,
it is 50% of range, i use it a lot
ac

 

[Bronte]

lol! from one of the ASX traders at www.livecharts.co.uk

Love this Edwood
Dow - 143 overnight
SPI - 60

 

[Bronte]

it is 50% of range, i use it a lot

We never ignore 50% of the Range
6366 Yesterdays High
6017 Previous Low
6191.5 50% of the Range
Nice Close of 'Gap' followed

 

[Edwood]

Ed - so today's early northern movement is a b wave? with a decent c wave to follow this avo?

hi Broadway - imo the morning rise is probably 4 before we make 5 down into A - well thats what I'd prefer anyway - with A targeting the 6070-ish area then up for a lower high (B) before C takes us down to retest the August low & prints a 2. in other words given the volatility lately I'm leaning towards giving the moves more room to play out than less.

(added) and am expecting it to take a few days to fill the pattern, not today / tomorrow

 

[acouch]

updated chart..

 

[acouch]

eod chart

ac

 

[acouch]

chart for today, after syco,

support at 6235, targets 6305, over that then 6329..but it could be a quite day today, as the sydney boys are on holiday..

good trades
ac

 

[acouch]

updated chart..dble bot to keep a eye on at 59..

ac

 

[acouch]

eod chart
have a great weekend
ac

 

[Edwood]

hi Broadway - imo the morning rise is probably 4 before we make 5 down into A - well thats what I'd prefer anyway - with A targeting the 6070-ish area

potentially looking at a down week ahead given Friday's US job numbers + the amount of commercial paper due in

good charts again acouch, cheers for those

 

[acouch]

thanks elwood, hope they are of some use to some..
here is todays chart left over from syco..

doubt if it can gap fill at 6254..but if it can get over 6207..it will have a go
at 6233...
have a great day
good trades
ac

 

[acouch]

spi chart after syco..

something to note is that price is above its 34ema..
have a great day
good trades
ac

 

[Edwood]

morning Ms acouch - thats a wide range you're offering there today, are you expecting some volatility?