ES EMINI Trading - The gap and others

[robster970]

I use candles but don't look at the formations. I wasn't trying to be pedantic but trying to illustrate that you see different things in different timeframes. Each to their own. In any event, I don't think it was a double bottom judging by the lack of action up until now..........

 

[Pat494]

hi,
Just been flicking thru the last 10 pages to get the general drift and eating dinner with the other hand.
Someone did ask which gap you guys are trading but I must have missed the answer if there was one ??

 

[robster970]

ES gap between RTH close and RTH open

 

[FXTrend240]

I place limit order at the previous day's RTH close. If it doesn't fill by end of RTH then I close the position at the market about 5 mins before close.

If you're trading on a 5min timeframe you won't be swing trading then and much I would say will not make sense. I have a 200 period MA but I look at that on 1d chart

the mighty 200, works so well i use it on forex and works well too, EMA tho SMA is just as good

 

[Pat494]

ES gap between RTH close and RTH open

thx
I am assuming you are betting the opposite way
Can't guess what RTH stands for tho
round the horn ?

 

[robster970]

the mighty 200, works so well i use it on forex and works well too, EMA tho SMA is just as good

It does indeed have mystical powers..........

 

[robster970]

thx
I am assuming you are betting the opposite way
Can't guess what RTH stands for tho
round the horn ?

LOL - Regular Trading Hours

Yes - Say ES closed at 4.00pm at 1165 when the equity markets closed and when the equity markets open the following morning, it had moved down to 1160 through pre-market shennanigans, I would go long at the market, trying to get as close to 1160 as possible at open with a limit order of 1165 to exit when the gap had closed.

 

[Pat494]

Ta * 2
Fwiw
The 8 pm (GMT) was an engulfing bull

 

[robster970]

I am already long as I bought at support on the second test of the bottom

 

[aversano]

Robster your beast! for what it's worth, I use the previous settlement price.

 

[Pat494]

You guys seem to rate the fundamentals in a big way

The US unemployment figs are due out at 12.30 GMT
Previous 457k
expected 452k

ok so are you expecting a jump or is it priced in ?

 

[aversano]

I don't. My trades are purely based on price and volume and some of the above....

 

[Pat494]

Ta * 2
Fwiw
The 8 pm (GMT) was an engulfing bull

That BULL has paid off beautifully imo

 

[Pat494]

Robster your beast! for what it's worth, I use the previous settlement price.

Hope no feathers have been ruffled - so back over to you

 

[robster970]

You guys seem to rate the fundamentals in a big way

The US unemployment figs are due out at 12.30 GMT
Previous 457k
expected 452k

ok so are you expecting a jump or is it priced in ?

I do but I use it in context with price action as well. I'm still developing as a trader and can only tell you that it's a bit of a black art and has more to do with hunches than anything clear cut.

The basic question I ask myself is "Do the main market participants believe the ES is under/over valued at certain levels?"

BTW - I'm still long from yesteray's double bottom.

 

[robster970]

Hope no feathers have been ruffled - so back over to you

Nah - we don't fight. It's a peaceful place here.

 

[aversano]

Short @1171.75. First Target filled.

 

[aversano]

2nd target

 

[mslcwt1]

aversano,

Is there any amount of time you typically see the gap filled or could it occur thru-out the RTH?:innocent:

 

[aversano]

I rarely trade after 11am