Trading the SPI

[Sensei]

So true and thanks for your support. But iam learning my lesson,
thanks again

PS ... you answered too quick ... I edited the grammar ... lol!!

 

[Ageo]

lol sorry mate,


Looks like gravitation levels are holding

4943 on the A200 and its trading @ 4945-50 atm.

lets see if it breaks it or comes back down to target open.

 

[Sensei]

A well behaved orderly move from 10.20am this morning ... watching for a further move to mid50's ... however the move was "too smooth" .. hardly any retracements .... leaves a suspicious feeling with me ... make sure you have good trailing stops to protect your work so far!!

 

[professor_frink]

lol sorry mate,


Looks like gravitation levels are holding

4943 on the A200 and its trading @ 4945-50 atm.

lets see if it breaks it or comes back down to target open.

What's a gravitation level ageo?

 

[Ageo]

I have 4 (2 minor and 2 major) Resistance levels and also 4 support levels. Gravitation is the 1 smack bang in the middle.


ASR use it and i have been using it with great success over the period.

And as we speak it looks like its holding

 

[professor_frink]

I have 4 (2 minor and 2 major) Resistance levels and also 4 support levels. Gravitation is the 1 smack bang in the middle.


ASR use it and i have been using it with great success over the period.

And as we speak it looks like its holding

Interesting. Are they similar to pivots? Or is it just S/R as calculated by ASR? If I'm asking for too many secrets then feel free not to answer!

 

[Ageo]

To be hones im not sure exactly but they do use fibonacci so it is a combination im assuming of fibonacci and something else.

They show the grapth and list the crucial technical points to look out for.

Like i said works well for me.

And again as i speak looks like its setting up for a push down as 4943 has held strongly.

 

[professor_frink]

To be hones im not sure exactly but they do use fibonacci so it is a combination im assuming of fibonacci and something else.

They show the grapth and list the crucial technical points to look out for.

Like i said works well for me.

And again as i speak looks like its setting up for a push down as 4943 has held strongly.

Thanks for that ageo. What chart are you using? The XJO or SPI?

 

[Ageo]

Frink im using the Aussie200 chart on CMC.


Update: pushed through gravitation level and looks to now test the 1st minor resistance level @ 4963.


Will report as it goes

 

[Sensei]

A well behaved orderly move from 10.20am this morning ... watching for a further move to mid50's ... however the move was "too smooth" .. hardly any retracements .... leaves a suspicious feeling with me ...

Today's lesson .........

don't let your expectations get in the way of the price action.

The chart was telling us one thing and our mindset was swaying us the other way.

 

[professor_frink]

Frink im using the Aussie200 chart on CMC.


Update: pushed through gravitation level and looks to now test the 1st minor resistance level @ 4963.


Will report as it goes

Well that explains why that S/R number didn't make sense to me!! Good luck with it ageo

p.s- look out spi traders, my a/c with IB should be open and funded by the time I get back from my holiday that I'm going on next month, so ya'll will have someone else to talk to about trading this beast!!

p.p.s- Bronte,I'll try to not spend all of my time making smart a** comments to you when I join in on a more regular basis

 

[Ageo]

lol dont ask me where this rally came from but it looks like pure manipulation.

Let see if it does what yesterday did and at the end of the day move the opposite.


P.S 1st major resistance level is being tested @ 4983.

 

[mit]

lol dont ask me where this rally came from but it looks like pure manipulation.

Let see if it does what yesterday did and at the end of the day move the opposite.


P.S 1st major resistance level is being tested @ 4983.

Yeah, its the deadtime at the moment. When the big guys start coming back from lunch at 2.30pm then the afternoon trend will start up. If I was still in I would be tempted to close out now at a nice profit and then reenter when the afternoon trend establishes itself.

MIT

 

[Bobby]

Why do you think the SPI is going to "Gap down" Bob?

Bronte , just saw your post.
Well it did gap down on opening !

Bob.

 

[Bronte]

Wow!
Only just logged on again..
You boys are really going for it
So is the market...Great to see.

Hi Bob, do you see a gap? Interesting.

 

[Ageo]

Yeah, its the deadtime at the moment. When the big guys start coming back from lunch at 2.30pm then the afternoon trend will start up. If I was still in I would be tempted to close out now at a nice profit and then reenter when the afternoon trend establishes itself.

MIT

If the MA crossover happens thats my trigger to go short. I hope it ploughs down too

 

[mit]

If the MA crossover happens thats my trigger to go short. I hope it ploughs down too

I'm in long with a tight stop as the trend hasn't changed. If not stopped out I'll get out at 2:40 as this is when the next trend change tends to happen.

MIT

 

[Ageo]

lol this is a funny day.


Hurtfull as i didnt get in @ 4922 (trigger) but ahwell no point worrying about that now. If it does reverse thow it might hammer down, but it looks like it aint goin down!

 

[Sensei]

What a rally ... as if the inflation figures did not exist. ... lol ... yesterday's news today's fish wrapper!!
What is the view? ... will we test (my) next levels at 5004 and 5028? ... well o4 maybe possible, but 28? ... nah!! impossible (today at least).

 

[mit]

Out at 4990. See if it changes now

MIT