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Intraday Index Trading: SPI & FTSE

SPI @ open

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IF the SPI opens below 3714 and
IF the MLs I have drawn
this morning are correct, the studious Greg Fisher has come up with some stats that can be applied to the chart below (SPI 22.04.09)

at the yellow circle, 3715ish, there is a 46% probability of a reversal, and if that reversal occurs, there is a whoping 90% probability price will reach the line pointed to by the arrow.

if it were to do that shortly after open, we are talking 3685ish. as the day progresses, the price will increase due to bar progression up the mid blue line.

anyway, . . . we'll see.
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Updated 24th-April-2009 at 04:01 PM by James Austin



  1. James Austin's Avatar
    at open SPI heads straight to 3683 = exit target.

    . . . missed fill; was waiting for entry at 3713, SPI high at open 3707.

    that's trading, . . . another will appear.

  2. elmundotrade's Avatar
    That's excellent James....how that system of the fork talks for it self!!.... my sympathies by you not getting filled thou .... there is always the next trade..
    I think, I am going to have to study that system and apply it to my arsenal..... too many times now that I see its works...and its potential accuracy, fantastic!!

    Updated 22nd-April-2009 at 03:24 PM by James Austin (i didnt realise i can edit others' posts)
  3. James Austin's Avatar
    yes, there is some magic in the forks.

    free teachings from an absolute pro here
  4. James Austin's Avatar
    when price pushes through the ML at the yellow circle, there is a 70% probability it will continue on to reach the bottom ML.

    also, there is a 64% probability price will revisit the mid ML after the initial penetration = entry at 3682

    CPI at 11.30am may force price into the 30% bracket.

    exit target is bottom or 2nd last ML,
    or SL/P,
    . . . which ever is best in RT

  5. elmundotrade's Avatar
    Thanks for the link James.....
  6. James Austin's Avatar
    3655 was the target, and finally, albeit at a snails pace, it was achieved.

    3682 open to 3655 close

    * no worries elmundo.


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