Monday, September 2, 2013

Below you will find examples of some relatively recent gaps--all 10+ points.  This is part of my preparation for tomorrow.  I want some road maps as to what the price action MAY look like.  This is the starting point.  Some questions I have as I am doing my research tonight. 

1)  What did the overnight range look like?

2)  What was the range in the first hour of trading,  was it choppy or did it go directional fairly quickly.

3)  How did the market behave as it hit Globex High & Globex Low.

4) What was the size of the rotation in the first hour, through midday and in the afternoon.

5) This is the beginning of preparation  not the end. Remember the market does not have to do anything.  It rarely does the exact same thing,  but it often rhymes. I often find that by looking at prior trading behaviors it becomes easier to recognize similar behavior and take advantage.  If you want to win big at this game you have to be willing to dig deeper than the guy taking the other side of the trade. 

Per example,  1st thing I notice is out of 4 times, we attempted to fill the gap only once in the first hour,  all others we extended up. 2nd,  we only went for true gap fill on 1 occasion,  what were the unique characteristics of that occasion.  Make good observations and take notes.  This is part of my daily homework. It is a big part of what goes into my edge. Its a big part of why I consistently win.  

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Trading of securities, options and futures may not be suitable for everyone and involves the risk of losing part or all of your money. Commentaries are educational in nature and are designed to contribute to your general understanding of financial markets and technical analysis. Use it how you want and at your own risk. I am not a registered investment adviser. This information is a general publication that reflects my opinion and is not a specific recommendation to any one individual. You must consult your own broker or investment adviser for investment advice. Controlling risk through the use of protective stops is essential

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