SPI Trading 18th January 2008 part 2
10:26
Lower open on the SPI and rising upwards from a lower Spiral point: -
Expectation that the market would move upwards into 5651 (44 points) and could continue upwards towards the 5-day low break and resistance…
Risk around the spiral highs @ 5651
Entry long @ 5614 (spiral bottom) (closed out on system short @ 5626)
Entry shorts @ 5639 partial exit 5630
Looking for a move back down into R44 lows with breakeven stop from entry….
Note: potential support around the 22 point lows, and could move higher back towards the 5-day lows on any support today…
Trading either way today only 2 lots minimise Risk….
Posted by
Frank Dilernia