Sorry to hear that. That is a large slippage (by stocks standards). I was following the 5-minutes. The BB(24, 2) is where I would expect the prices to stop going up. Therefore I would have placed a stop above there, and also I would have entered on this reaction that you have gone through. But trading is good only with hindsight!
Would it be possible for Bogan, Kiwi or anyone else to post a one minute chart for a typical day session on the SPI to see how the market action has changed. Many thanks and Best Regards Johno
I thought that SPI is closed for good friday. The guys are trading Taiwan Index on the Singapore Xge.
It is back to 330. But I think that area of resistance is somewhat suspect. I would say that 330.50 (0.20 or so lower than the top) is a better area to get back short assuming a failure on the up move.
Is that SPI? It seems to be correlated to US market. Now which one leads (Aussie or USA?) Looking at the chart it seems to me that one could have predicted the USA just by looking at the Aussie chart?
Yes thats spi It is loosely correlated (they all are). Sometimes the US leads, sometimes they follow. All are transexual.
I think now I would start entering TW, 1 @ 330.50 and 2 others each at 0.10 apart with a stop above the high of day.