Trading the Gaps

[ranjha]

i thought all you do is Gap trading so u still in ?

 

[ilir.shkurti]

I am testing some intraday setups as well, with reduced position sizes.

 

[ilir.shkurti]

I have not assumed any new position as yet. Watching.

 

[ranjha]

yes it looks way to choopy

 

[ranjha]

what do you use for Entries? do you consider Fibonacci or support and resistance?

 

[ilir.shkurti]

This is a discussion for another thread. But I will say this: purely price/volume action, no indicators.

 

[robster970]

I stayed out today. Was not sdure what effect the news may have had today so chose to be safe. It's been a funny week tbh, very tight.

Only price btw, nothing else. Don't believe in indicators. All those following indictator get in late and are usually on the other side of my trades

 

[ilir.shkurti]

First tgt of 42.25 filled. Sorry I did not have time to post immedi after going long at 8:28 at 40.25

 

[ilir.shkurti]

Second target stopped again one point in the money

 

[robster970]

Got stopped out today.

 

[ilir.shkurti]

Good thing about playing the gaps is, there is always tomorrow (or Monday).

 

[robster970]

That was some sell off today considering the news was not that bad.......

 

[ilir.shkurti]

The only predictable thing about markets is their unpredicability! I rarely expect markets (crowds) to behave rationally.

 

[robster970]

Ilir - I assume you're not coming out to play today?

 

[ilir.shkurti]

Robster, I am suffering from withdrawal pains today. Volume is anemic, and I just do not trust the momentum is there.

 

[robster970]

I was thinking about my Monday aversion over the last 2 weekends and have decided to trade Monday from now on. I was looking at today and eventually concluded I would not trade the gap today because NYSE was not open and therefore e-mini could just drift around with no incentive to test friday's close.

Looks like we were both right.

 

[ilir.shkurti]

Long 38

 

[robster970]

Gap way too big today. Stayed out.

 

[ilir.shkurti]

Stopped.

 

[ranjha]

i didnt try Gap either it was too big to Fade you are right and news wasnt helping either