Trading The SPI - NON-Gann Techniques

[acouch]

hi edwood,

i put the lower nos in in case she decided to roll over, but i was more thinking of upside today,
once price was above its 34ema..
gap fill is at 6254..

support today is at 6197..

ac

 

[Edwood]

i was more thinking of upside today, once price was above its 34ema.. gap fill is at 6254..

gap filled & got your 6268 on the button - nice work acouch!

 

[acouch]

morning all
close of syco chart,

don't know if this will gap fill today.(gap fill 6268)....6280 might hold it..
upper targets on the chart once over 6344..
have a great day
good trades
ac

 

[Broadway]

morning all
close of syco chart,

don't know if this will gap fill today.(gap fill 6268)....6280 might hold it..
upper targets on the chart once over 6344..
have a great day
good trades
ac

Found support at approx. half gap close. Action stalled, everyone wondering where to now.

 

[SevenFX]

don't know if this will gap fill today.(gap fill 6268)....

Acouch.

Looks like you were right on the money, as it's retouched 6268 multiple times.. (though just broken though on the 3rd time)

SevenFX

 

[acouch]

hi tek,
needs to get over its 34ema now for longs..
now at 6280
updated chart below.

ac

 

[acouch]

was a bit slack i am afraid, missed the 6212 to left of chart on the cross,
but still she did the job
great trades
ac

 

[SevenFX]

was a bit slack i am afraid, missed the 6212 to left of chart on the cross,
but still she did the job
great trades
ac

Thanks Acouch..

Yes 6214 was a turning point, and what are the diamond shaped lines all over your charts... Is it Gann Lines or similar plotting time measured over range...????

Just a guess.
SevenFX

 

[acouch]

no they are Andrews pitchfork extended forward.

ac

 

[acouch]

todays chart,

note that price is above its 34ema at 6244.

have a great day
good trades
ac

 

[Edwood]

haven't got a lot to add at the moment as busy with other things but we 're in the middle of the range of this sideways consolidation - put in a higher low following a bounce off .618 retrace from the move out of Sept 10 but no real clues to direction here - have a trend line under the lows from yesterday for shorts, but its pretty minor. so safest is range trading for the moment I guess, will wait for it to make a move either way

anyone else confused?

 

[acouch]

having trouble getting over the 62 here
ac
chart below

 

[acouch]

dah!! forgot chart

ac

 

[Trembling Hand]

Is the SPI getting more and more boring? Where has all that great volatility gone from last month?

 

[Edwood]

Is the SPI getting more and more boring? Where has all that great volatility gone from last month?

ha I was just looking at that 5pt range from the last hour thinking the same thing! only positive is the daily bollies are coming in

 

[acouch]

updated chart
ac

 

[acouch]

todays chart
note gap fill is at 6263
good trades
and have a great day
ac

 

[Edwood]

back to the top of the channel & getting into a tight range - with the higher lows you'd have to think higher from here, likely on the back of US rate-cut expectations, altho I guess the reason is irrelevant.

as an aside I tend not to try & count corrections like this and just go with the fact that its correcting & will break out either way when its ready - maybe lazy but it saves getting tangled in knots trying to put a count on it!

 

[professor_frink]

morning folks

Will be looking for a short this morning if we get an open around the 6320-25 area.

 

[Bronte]

Good morning fellow SPI traders.

Interesting post professor
R4 6386
R3 6337
R2 6288
R1 6263
PP 6239

You are selling 6320 - 25 area
Why is this please ?
Stoploss ?