Trading The SPI - NON-Gann Techniques

[Trembling Hand]

Yens on a bit of a run here. US futs down 0.4% from their close. UK Futs down 0.9%! Talk of a big UK mortgage lender needing emergency funding from the bank of England. Could turn into a nasty day. I will be giving any highs a nudge to the short side on the open.

 

[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 ?

Sycom closed at 6306
We will be getting a much lower open.
6264/66 is a buy for us

 

[Edwood]

Yens on a bit of a run here. US futs down 0.4% from their close. UK Futs down 0.9%! Talk of a big UK mortgage lender needing emergency funding from the bank of England. Could turn into a nasty day. I will be giving any highs a nudge to the short side on the open.

Northern Rock, one of the bigger lenders but with a small deposit book - have had to tap into the BoE funding facility & possible takeover target now

 

[Bronte]

6286 Open

 

[Edwood]

Northern Rock, one of the bigger lenders but with a small deposit book - have had to tap into the BoE funding facility & possible takeover target now

lol just saw your post on XAO

 

[Broadway]

Hey guys,

I know theres no logic to this, but just about every day for the last 2 weeks, if it opens with a gap to sycom 0700, it closes that gap just about every day, initially.

Weird, huh.

 

[Edwood]

Hey guys,

I know theres no logic to this, but just about every day for the last 2 weeks, if it opens with a gap to sycom 0700, it closes that gap just about every day, initially.

Weird, huh.

so what're u saying then Broadway, around a 90% fill rate?? wish they were always that good but either way SPI gaps are a nice way to start the day!

 

[Broadway]

so what're u saying then Broadway, around a 90% fill rate?? wish they were always that good but either way SPI gaps are a nice way to start the day!

Yea, I just woke up so my grammar sucked, but yes, looks like a high probability trade.

Anyone got a theory about these 3 800+ contract volume spikes this morning?

The first one looked like it pushed the open down, and the other 2 are at peaks, so I guess someone with pockets is hoping it drops south out of this pennant?

 

[professor_frink]

Yea, I just woke up so my grammar sucked, but yes, looks like a high probability trade.

Anyone got a theory about these 3 800+ contract volume spikes this morning?

The first one looked like it pushed the open down, and the other 2 are at peaks, so I guess someone with pockets is hoping it drops south out of this pennant?

Rollover is next week. There will be quite a few vol spikes like that over the next few trading sessions.

 

[Bronte]

6264/66 is a buy for us

7 / 8 point stoploss
If we close the gap today.
Looking for a break lower.

 

[Bronte]

7 / 8 point stoploss
If we close the gap today.
Looking for a break lower.

We have just had our break lower
6275 Double Bottom Low.
For now......

 

[Edwood]

getting tight - decent move coming!

 

[Bronte]

Which way do you think the market will break Edwood?
Big picture as above....
Or after lunch

 

[Edwood]

Which way do you think the market will break Edwood?
Big picture as above....
Or after lunch

difficult to say Bronte - can think of loads of reasons for it to go either way, so better not to think I think and just play the move when it decides

... but if I was pushed I'd give the trend the benefit of the doubt

is that vague enough to cover me either way?

 

[Bronte]

Vague enough.ty
Also a very sensible reply.

 

[onemore]

Bront/man
Have you given up on Gann trading?
If not how come you dont post as prolific in the Gann thread as you used to in the SPi threads?
Or are your buy entries in this thread really Gann entries?.

Cheers ............. The Ex One Button Pilot.

 

[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 ? Gann ?
Stoploss ?

We are using Pivot Points as above.
Andrews Pitch Fork (looks very usable...nice work acouch)
Williams, Elliott and other analysis.

We certainly haven't given up on Gann.
Just decided that this is not the forum for Gann timeframes etc.
The professor could be using Gann analysis....maybe.

 

[acouch]

spi chart for today..
price is above its 34 at 6284..

have good day, and great trades
ac

 

[professor_frink]

morning folks,

anyone else having trouble with IB this morning? I have no depth on the bid side at all

 

[professor_frink]

mine seems ok prof.

morning trend looks south to me, but not very strong.

y'all have a great day!!

hmmm, must be something my end then

Bit hard to trade with only 1 side of the book!