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Intraday Index Trading: SPI & FTSE

SPI - tapping the bigger moves

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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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Updated 24th-April-2009 at 04:02 PM by James Austin



  1. James Austin's Avatar

    best entry long at 3618ish (rose circle) which also matched a fib number. low was 3611 = SL 9pnts or greater = survival

    exit at next median line (green circle) 3674ish.

    nice if u can get it,
    took 9hrs and doesnt need to be watched like a hawk.

    ** yellow circle shows possible resistance/ short at open on SPI today 3675-79

    Updated 10th-April-2009 at 09:46 AM by James Austin
  2. James Austin's Avatar

    SPI hits median line at 3682 (yellow circle) where resistance is expected.

    short entry 3680ish
    high is 3685 so SL survival = 3687 = 7 pnts
    where to exit? expectation is price will reach lower blue ML.
    but will it and when?

    Updated 14th-April-2009 at 01:10 PM by James Austin
  3. James Austin's Avatar
    SPI hits 50% fib and ML20 & ML60 -- short??


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