SPI - tapping the bigger moves
by, 8th-April-2009 at 03:32 PM (2904 Views)
i've been looking for a way to take advantage of some of the bigger intraday index moves. plus i think my personality lends itself towards well thought through trades (ie., taking my time). so i've been exploring median lines.
seem to have found a bit of a guru in the field to. down-to-earth Tim Morge, who's been using MLs for decades and has been trading for 38 years. http://marketgeometry.com/
MLs are a simple tool, but there's a bit of magic in them i think . . . . got to love simplicity.
the example below shows the SPI opening below the ML (top yellow circle) and extending to the brown ML (bottom yellow circle).
this morning i was looking at this ML chart, but had conflicting signals from my other system so i didnt participate; gets confusing when there are conflicting signals, which to believe!!
i wonder if price will bounce at the rose circle? price hasnt quite got low enough yet to know.
but price might get down to 3618-21, we'll see.
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