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Intraday Index Trading: SPI & FTSE


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the only decent trade i could find today occurred at 3.50pm, and i wasnt onsite, so to speak.

price bounces off 50% fib 3334 and lower median line (blue line), as marked by yellow circles; climbing 40pnts in the last 1/2hr of the session.
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Updated 24th-April-2009 at 04:06 PM by James Austin



  1. MRC & Co's Avatar
    To be honest James, I don't think any form of fib level, daily level or anything makes much difference post cash hours (not sure if Franks system disagrees, or perhaps fibs will work).

    It really looks like guys with HUGE volume have something to do, and will wait until this cowboy session opens so they can get it done. This is why you sometimes get price shooting in one direction, and even with huge players coming back to push it back to 'fair value' (i.e. in line with what other indices have done since the cash settlement), you will still get it going in that same one direction. Usually, you will get it come back just before 4:30pm (such as today), but when someone has a LOT to do, they will use these 'fair value' hunters to just do more and more contracts (this is when a trader can hold until night SPI and hope it gaps back in the other direction, as the big guy has sent it out of whack).

  2. MRC & Co's Avatar
    Did that make any sense at all?

    If not, let me know and I will try explain what that jibberish was about.
  3. James Austin's Avatar
    personally i dont have much success after 4pm, sometimes its good, and sometimes i get crucified; my style of trading doesnt seem to work there.

    u may be right re fibs etc post cash, not sure!
    but in this example it was during cash hours when the long signal came

    interesting, for me at least, to see price meet and bounce away from that blue line
  4. MRC & Co's Avatar
    Oh yes, the bounce was in cash hours, I was just pointing to the big move that followed (a lot came out of cash hours). But yes, a good example of that 50% level again.



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