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Trading The SPI - NON-Gann Techniques

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looks good elwood..
i have 6074 on my fibtrader..

here is todays chart with support and resistance on it, i have added a upward ML as well..gap fill is at 6233 today..strong resistance on the chart is at 6228..
great trades
ac
 

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Goodmorning Ed and AC.

Seems to be alot of opening gap closures to the 0700 sycom lately. At least the last few days. Yesterday's opening gap closed all the way to the 1630 close of the day before as well.

Got 2 questions.

Ed - so today's early northern movement is a b wave? with a decent c wave to follow this avo?

AC - the blue up pitchfork is interesting to me, when I draw a pitchfork I need 3 points of reference. On yours, I dont understand where the middle ML has started from?

cheers.
 
acouch said:
it is 50% of range, i use it a lot
Click to expand...
We never ignore 50% of the Range
6366 Yesterdays High
6017 Previous Low
6191.5 50% of the Range
Nice Close of 'Gap' followed
 

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Broadway said:
Ed - so today's early northern movement is a b wave? with a decent c wave to follow this avo?
Click to expand...

hi Broadway - imo the morning rise is probably 4 before we make 5 down into A - well thats what I'd prefer anyway - with A targeting the 6070-ish area then up for a lower high (B) before C takes us down to retest the August low & prints a 2. in other words given the volatility lately I'm leaning towards giving the moves more room to play out than less.

(added) and am expecting it to take a few days to fill the pattern, not today / tomorrow
 
chart for today, after syco,

support at 6235, targets 6305, over that then 6329..but it could be a quite day today, as the sydney boys are on holiday..

good trades
ac
 

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updated chart..dble bot to keep a eye on at 59..

ac
 

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Edwood said:
hi Broadway - imo the morning rise is probably 4 before we make 5 down into A - well thats what I'd prefer anyway - with A targeting the 6070-ish area
Click to expand...

potentially looking at a down week ahead given Friday's US job numbers + the amount of commercial paper due in

good charts again acouch, cheers for those
 
thanks elwood, hope they are of some use to some..
here is todays chart left over from syco..

doubt if it can gap fill at 6254..but if it can get over 6207..it will have a go
at 6233...
have a great day
good trades
ac
 

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spi chart after syco..

something to note is that price is above its 34ema..
have a great day
good trades
ac
 

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morning Ms acouch - thats a wide range you're offering there today, are you expecting some volatility?
 
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