lol ... not knowing why you did what you did I can't tell. But if you treat it as a reasonably trendy stock index future then I'm sure you'll do well. It does seem to do all the things that one might expect wrt S&R.
I would now put a stop at breakeven for remaining contract (or if I want to take from the wins banked on the other 2 contracts, I would place the stop at 330.90, close my trading station and come check it later or even tomorrow). It can run as it pleases. Summary: entries would have been made at 330.50, 330.60 and 330.80. Profits on 2 contracts: at least 0.80 and 1.10 for the last two. For a combination of USD190. You can place a stop at 330.50 (but I would take USD40 from profits and place a stop at 330.90 to make give the remaining contract a lot of room to run if move to the down side continues). But one can monitor the remaining contract and make discretionary decisions including not allowing to go less than say USD40 profits on the last contract.
I have an indicator that I have developed and I follow it. It tries to time to reversals (confirm a high and a low before entering). That is why I was waiting for a reaction to the area of the high before shorting.
I agree with you that on the 1 hour time frame, the trend is up. But the top starts always at lower time frames.
Good. I look forward to your joining. I will sell into your reversals and you can sell into my continuations. Both of us can profit ... perhaps Bogan7 would be willing to take the losses for us
Look at the 15 minutes. We are getting close to the top. It should not go beyond 332. I will time my entry on lower time frames.
Many thanks Kiwi, The SPI still looks pretty whippy to me, but as in most things it's horses for courses! The approach that I like to take on the FTSE is more Swing Trade orientated with scalping style entries.[ quite difficult at the moment due to increased volitility ] The chart you posted seems better suited to a Rainbow trading type approach utilizing short term scalps. Would you care to share any thoughts regarding appropriate styles for this market's dynamic! Also your chart contains a red / blue moving average, does this come with your charting package or is it a proprietry indicator. If it's not a trade secret and you would care to point out where the code might be found could you please post the site or feel free to PM me! Thanks You and Best Regards Johno