Close that gap

Close that gap baby!

the es and er2 are still dropping --- fading the rallies is the best play until this market can put in a solid bottom --- and there is no signs of that yet.


the indexes need to stay out of the red today or we will get more eyes watching the exits. Full rooms with narrow exits can get ugly fast!

 

How do we know that we haven't already put in a solid bottom?

The S&P could have bottomed at 1168 on Oct 13. The candlestick pattern on that day was a hammer on good volume (a solid reversal signal).

Since then it's had 3 higher highs and 3 higher lows.

 

Which gap please? could you kindly post a chart?

thanks

 

Not speaking for MacroEvent.

I trade the ES matched to the SP pit session so for me we came within a tick of closing the gap. I shorted the gap up and rode down most of the ride close to the low. I trade gaps almost everyday because that is where I made most of my profits.

Hope that helps.

Good luck and good trading

 

later --- too busy trading i trade the gap from the opening run-up to the price just prior to the new releases at 08:30 eastern time --- if there is no early morning news releases then i look for a gap fill of the close area of the previous day {the traditional gap}.

short es again here with a signal at 1193.50 --- short er2 at 634.20

 

there is a nice chart ---- thanks!

 

Bsulli & MacroEvent:


Thanks for your reply. Very much appreciated.

One stupid question, doesn't ES trade almost 24 hours a day, My AmiBroke charts doesn't show any gap. Are your gapped charts based on 9:30 to 4:00 timeframe or 9:30 to 5:00 please


Happy trading to you both.

 

I like gaps. Market has weak knees. I can smell the fear.

 

my charts are set at 24/7/365

covers at 1191.50 and 631.20 so far ---- possible real good position trade setting up here off that run-up.