Trading the SPI

[Bronte]

I suppose it is what you get used to.
W D Gann used bar charts.

 

[professor_frink]

True.
Still considered a sign of strength though.
Didn't reach yesterdays Low of 4940
Todays High 4939

fair enough then.

For what it's worth, based on the 6 hour chart the SPI has issued a strong sell signal, me thinks a cross of the 200 EMA is very likely now. I shorted it just before but jumped out due to my human weaknesses



BTW Bronte, why don't you use candlestick charts - they are so much clearer. That chart just looks like a stack of scattered twigs.

How many stacks of twigs could a twig stacker stack if a twig stacker could stack twigs? :homer:

6 hour? how much different is that to a daily chart hopeful?
Can you post one as an example?

 

[Ageo]

Dropping bad atm.

 

[Bronte]

Dropping bad atm.

Yes, Very badly:

 

[Ageo]

thats why i didnt take a long position.

wanted to see some stability 1st

 

[Hopeful]

Professor, my charting software doesn't let me save charts in the usual formats. I am using intra-day charts and I like to include all the data - not just the day session. I like to use 360 min charts to give my the big picture as a very short term trader.

This is nothing more than a guess based on experience, but I think the SPI will probably react from around 4872 but then drop below it for a nice run down. After that I don't know yet.

You can see what I'm seeing here

http://www.futuresource.com/charts/charts.jsp?s=ASIU06&o=&a=V:360&z=800x550&d=LOW&b=CANDLE&st=

Draw an imaginary line under the candle bodies.

 

[nat]

hi there hopeful ,i was just wondering do future source show vol on there charts ,i treid to put vol and open intereest into the chart but came up with nothing,thanx Nathan

 

[professor_frink]

Professor, my charting software doesn't let me save charts in the usual formats. I am using intra-day charts and I like to include all the data - not just the day session. I like to use 360 min charts to give my the big picture as a very short term trader.

This is nothing more than a guess based on experience, but I think the SPI will probably react from around 4872 but then drop below it for a nice run down. After that I don't know yet.

You can see what I'm seeing here

http://www.futuresource.com/charts/charts.jsp?s=ASIU06&o=&a=V:360&z=800x550&d=LOW&b=CANDLE&st=

Draw an imaginary line under the candle bodies.

Thanks for that hopeful. I see where your coming from now.

 

[professor_frink]

hi there hopeful ,i was just wondering do future source show vol on there charts ,i treid to put vol and open intereest into the chart but came up with nothing,thanx Nathan

nat,
you can only use the vol/OI on daily charts. It won't show it intraday.

 

[nat]

ok ,well worth a try ,thanx, Nat

 

[Ageo]

Went long @ 4924 but got stopped out @ 4914.


minus $200

not to worry, market just didnt agree with me

 

[Sensei]

Went long @ 4924 but got stopped out @ 4914.
minus $200
not to worry, market just didnt agree with me

yep ... noticed they're moving it enough (5-10 points) to shake out any stops they can ... playing games with it as they have for a couple of sessions

 

[Ageo]

yep ... noticed they're moving it enough (5-10 points) to shake out any stops they can ... playing games with it as they have for a couple of sessions

doest matter, i will get them back (but with a bigger move).

tomorrow morning should be interesting.

We still have the rest of today aswell but i doubt anything will happen

 

[Sensei]

doest matter, i will get them back (but with a bigger move).
tomorrow morning should be interesting.

We still have the rest of today aswell but i doubt anything will happen

lol ... good attitude Ageo ... sink the baskets

 

[Ageo]

might be a late breakout but i will need double confirmation

 

[Sensei]

might be a late breakout but i will need double confirmation

gives the impression of wanting to the downside ... but could be a false break then fade and reverse

 

[Ageo]

this market is wacked today.

Up down up down it seems if you go in your gonna get chopped up.

Tomorrow will be a brighter day, payback

 

[astojic86]

Hi

How do you trade the Spi?

I have a commsec account can I trade using that?
Does anyone know what is the cheapest brokerage?
How does it work someone said 25$ a point?
Also I might get a Mac Bank CFD account can I trade using cfd?


I am new to this thread I was reading it but I couldn;t go through the last 120 pages to find the answers, i had a look on the net but didn;t fgind much

thanks in advance

 

[Bronte]

Nice BIG range days and HIGH Volume in the SPI
4882 is / was our Gann Support for today
Maybe a "Happy Hour" trade

 

[Sensei]

Hi
How do you trade the Spi?
I have a commsec account can I trade using that?
Does anyone know what is the cheapest brokerage?
How does it work someone said 25$ a point?
Also I might get a Mac Bank CFD account can I trade using cfd?
I am new to this thread I was reading it but I couldn;t go through the last 120 pages to find the answers, i had a look on the net but didn;t fgind much
thanks in advance

Asto ... get a copy of Brent Penfolds book Trading the SPI (about $40 at bookstore or free to read from yr local library) ... read it carefully once ... re-read ... by then you may be scared out of yr wits and lose all interest ... or it'll give you a buzz and provide you with a good basis for starting yr longer term education.