Hiya Taboon, Sorry mate, dont mean to be confusing...My current...

Hiya Taboon, Sorry mate, dont mean to be confusing...

My current position is LONG (from last night...)

My ideal scenario is a gap up on spi on open (09:50 AEST).

I wish to use that open to close my longs.

I then want to go short.

My reasons behind going short are several fold... Here are two of them...

The first one is the "trick Trade" I mentioned about a week back, started an XJO thread based on that little trade...dynamic up on US close, short spi on aussie open, look for 20 pts gain... this trick trade is STILL working... though it does not work every time...)

The second is the last three times the stochs have been (on the daily) in the overbought region n testing the 80 level, after an initial down candle (on the daily) the subsequant action has been another red candle which has ranged from 50 to 100 points.

So initial trade on open... close longs, open shorts.

Initial target for shorts is 20 pt drop as per the trick trade.

I will try if this occurs to hold a position short tho somewhat lighter to see if my "conjecuture" regarding Daily price action comes tru (IE the 50-100pt drop)

;)