Trading the SPI

[Sensei]

Ageo, we know you meant 4970 and we almost agree on targets. But seriously 4500 possible on the way the chart may unfold ... even lower!

 

[Bronte]

We have always found Mondays to have the most unpredictable of Opens.
E.O.M. Selling could still be around.
Monday Buy Rules & Dow +119 Points.
We will trade what we see this morning
Resistance at 4990/5
Support at 4962/4

"We will trade what we see"
All Resistance / Support areas posted are:
Gann Support / Resistance Areas
If we see the SPI Open above one of these areas we Buy
If we see the SPI Open below one of these areas we Sell
Protecting our Stoploss with the Support / Resistance available

 

[spitrader1]

no one in the spi room today

 

[spitrader1]

no one in chat today??

 

[professor_frink]

"We will trade what we see"
All Resistance / Support areas posted are:
Gann Support / Resistance Areas
If we see the SPI Open above one of these areas we Buy
If we see the SPI Open below one of these areas we Sell
Protecting our Stoploss with the Support / Resistance available

a tough morning bronte???- been lots of chop around one of the levels you posted. Hope you didn't get caught in too much of it

p.s- I have a weekly pivot level resistance at 5005. There were a couple of potential entries off that level this morning(not trying to claim any trades here folks-my a/c still isn't open )

Happy trading all- it's a sunny day- I'm going to hit some golf balls

 

[nat]

hi all ,is a tough morn ,4 trades for -1 point ,prob best to not trade on last day of the month ,one can only learn by trying things Nathan

 

[Ageo]

Ageo, we know you meant 4970 and we almost agree on targets. But seriously 4500 possible on the way the chart may unfold ... even lower!

lol sorry, was a typo. 4970 is my target

and yes lower levels around 4500 are definately on the cards.

 

[Bronte]

Hehe!
We knew what you meant Ageo

 

[Ageo]

im in chat btw for any1 that wants to join me

 

[Bronte]

a tough morning bronte???- been lots of chop around one of the levels you posted. Hope you didn't get caught in too much of it

Thank you professor-frink.
We just traded once off the Open Support this morning.
With lots and lots of care

 

[Bronte]

31st July is also Water Rates Annual Service Payment Day.
Not complaining here....We have lots to pay

 

[Bronte]

Support at 4962/4

Now 4962

 

[Bronte]

5006 High
4960 Low
4962 Now
7617 Volume

 

[Bronte]

E.O.M. Selling
Now 4953 Low

 

[Ageo]

lol sorry, was a typo. 4970 is my target

well the A200 did hit it and is now hovering around it.


I went short @ 5000 and my stop was hit @ 4975 so 25 points x 20 contracts = $500.

Looks thow it might keep going down

 

[Freddo]

Nothing for me today...

No time to go scalping.

I am suffering from a very very itchy trigger finger
and have to keep telling myself to be patient.

If we get around 4900 I'll be ready to short it.

 

[Sensei]

Nothing for me today...
If we get around 4900 I'll be ready to short it.

... got a feeling we'll see 5000 again before it heads in that direction.

 

[Bronte]

Todays SPI:

 

[Bearman52]

Hi Folks
just reading the messages for today, D'ont know whether you realize it but there was around 390 points in swings today (on a 3min chart) at least half of them were gettable using the right system. So yes it did go up & down today. It was a beautiful day to trade.Unfortunately we are in the middle of a move and I'm packing and she who commands put my trading room off limits (apart from an occasional sneaky eyeballing of the screens,because as we know this is addictive)The market will give to you if you tickle it the right way

 

[professor_frink]

Hi Folks
just reading the messages for today, D'ont know whether you realize it but there was around 390 points in swings today (on a 3min chart) at least half of them were gettable using the right system. So yes it did go up & down today. It was a beautiful day to trade.Unfortunately we are in the middle of a move and I'm packing and she who commands put my trading room off limits (apart from an occasional sneaky eyeballing of the screens,because as we know this is addictive)The market will give to you if you tickle it the right way

G'day Bearman,

So how would you go about picking up nearly 200 points based on yesterdays action?
200 points is a pretty good day's trading