Hi Everybody,
As we have seen, the Standard Traders had a quiet day yesterday with few automatic setups. This is where the a little knowledge comes in for the Advanced Traders among you.
I have taken about the “Gap Open” play before. This is where we look for a market to reverse at DP sup[port/resistance shortly after the open. As you can see, we had a perfect example of this on the 3min ES yesterday. The ES then rallied nicely to the opposing DP, where a nice +2.8R Profit (ignoring slip[page and commission) was available.
This is a particularly good play when it “falls in line with” the larger degree trend, as this one did (as we say yesterday, the 15min ES was up).
Thanks, Steve
As we have seen, the Standard Traders had a quiet day yesterday with few automatic setups. This is where the a little knowledge comes in for the Advanced Traders among you.
I have taken about the “Gap Open” play before. This is where we look for a market to reverse at DP sup[port/resistance shortly after the open. As you can see, we had a perfect example of this on the 3min ES yesterday. The ES then rallied nicely to the opposing DP, where a nice +2.8R Profit (ignoring slip[page and commission) was available.
This is a particularly good play when it “falls in line with” the larger degree trend, as this one did (as we say yesterday, the 15min ES was up).
Thanks, Steve
