S&P 500 Indexes Scalping

[Edmwer_Buay_Kan]

Probability of down is 65%.
Take profit 2060
Stop loss 2080
Current point 2076.

Just my opinion, may wrong. Follow at your risk.

Using pure TA methodology.

Sent from SOF using GAGT

 

[Shiny Things]

Good luck getting this trade on at 2076, though. The futures start trading in an hour or so, and going by where everything else is opening up, I'd bet the futures open up 10-15 handles lower (implying an index level somewhere around 2060-2065).

So you might end up being 100% right, purely because Greece voted OXI and now everyone's going to start panicking, but you won't be able to do anything about it. If you didn't already have this trade on on Friday afternoon, you won't be able to get it on before it trades through your t/p level.

Update: yeah, the futures are being indicated at 2054; cash-futures basis is about -8 points; so that puts the implied index level about 2062.

Also, if you don't mind me being a bit rude: this is one of those situations where TA is pretty much useless. You're basically just betting on the opening gap in the SPX on Monday morning, and that's completely dependent on the outcome of the Greek referendum.

Update 2: first print in the futures was 2038. Hope you had this one on before the market closed on Friday.

 

[Edmwer_Buay_Kan]

Good luck getting this trade on at 2076, though. The futures start trading in an hour or so, and going by where everything else is opening up, I'd bet the futures open up 10-15 handles lower (implying an index level somewhere around 2060-2065).

So you might end up being 100% right, purely because Greece voted OXI and now everyone's going to start panicking, but you won't be able to do anything about it. If you didn't already have this trade on on Friday afternoon, you won't be able to get it on before it trades through your t/p level.

Update: yeah, the futures are being indicated at 2054; cash-futures basis is about -8 points; so that puts the implied index level about 2062.

Also, if you don't mind me being a bit rude: this is one of those situations where TA is pretty much useless. You're basically just betting on the opening gap in the SPX on Monday morning, and that's completely dependent on the outcome of the Greek referendum.

Update 2: first print in the futures was 2038. Hope you had this one on before the market closed on Friday.

FA + TA = FATA! TA is entry, FA overall direction.

Sent from SOF using GAGT

 

[alexchia01]

Probability of down is 65%.
Take profit 2060
Stop loss 2080
Current point 2076.

Just my opinion, may wrong. Follow at your risk.

Using pure TA methodology.

Sent from SOF using GAGT

US Market made a gap down today, so if you have not entered last Friday, you are already too late.

 

[Perisher]

Is it that hard to guess it will gap down? Given that yes/no vote will likely result in status quo or down. Anyway, no time to micromanage according to news/noise. The general direction seems to suggest short term pain, long term Europe probably is better without PIIGS. Who is gonna be the next one?

 

[alexchia01]

Is it that hard to guess it will gap down? Given that yes/no vote will likely result in status quo or down. Anyway, no time to micromanage according to news/noise. The general direction seems to suggest short term pain, long term Europe probably is better without PIIGS. Who is gonna be the next one?

Well, before the referendum, nobody knows the result for sure.

If the result is "Yes", we'll see a gap up instead of a gap down.

Who's next, depends if Greece can get out of this mess unharmed or with just minor injuries.

If so, the rest will follows.

If not, Greece would be alone.

 

[Shiny Things]

Wah forex charting sexpert, your targets was hit right during opening....power! Respect!!!!

Yep, but you never had the chance to put the trade on before it hit the take-profit level. As everyone's already pointed out - if you hadn't already done this on Friday, you had no chance to do it on Monday.

 

[lookers]

https://www.youtube.com/watch?v=nRWweMDjnKo

Somehow the embed is failed... Riots happening in Greece?