ES Journal - 2012

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trickshot, if I may intervene here, just compare the closing price at 4 pm est with the opening price at 9:30 am est. on the next trading day. There is your gap (if there is one).
 
Quote from piezoe:

trickshot, if I may intervene here, just compare the closing price at 4 pm est with the opening price at 9:30 am est. on the next trading day. There is your gap (if there is one).
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The gap is only visible on lower time frames, and I am not arguing that it doesn't exist on the minute charts (it does). What I'm saying is that there is no gap on the daily, yesterday's bar was an inside bar. None of the traders I know IRL would classify an inside bar as a gap, but I guess none of these things matter in the end, the bottomline is what matters eh? :cool:

Btw some definitions:


http://www.incrediblecharts.com/technical/gaps.php

http://stockcharts.com/school/doku.php?st=gap&id=chart_school:chart_analysis:gaps_and_gap_analysi

http://www.investopedia.com/terms/g/gap.asp#axzz1tnXu5HeW

Gaps are broadly defined as a window where no trading took place, therefore I don't see how an open that is within the trading range of the previous day's bar can be defined as a gap.
 
Quote from trickshot:

The gap is only visible on lower time frames, and I am not arguing that it doesn't exist on the minute charts (it does). What I'm saying is that there is no gap on the daily, yesterday's bar was an inside bar. None of the traders I know IRL would classify an inside bar as a gap, but I guess none of these things matter in the end, the bottomline is what matters eh? :cool:

Btw some definitions:


http://www.incrediblecharts.com/technical/gaps.php

http://stockcharts.com/school/doku.php?st=gap&id=chart_school:chart_analysis:gaps_and_gap_analysi

http://www.investopedia.com/terms/g/gap.asp#axzz1tnXu5HeW

Gaps are broadly defined as a window where no trading took place, therefore I don't see how an open that is within the trading range of the previous day's bar can be defined as a gap.
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Yes, that's right. You don't see gaps on the daily ES bars of course because they include the overnight session since a trading "day" for the ES is not the same as 9:30-4:00 RTH.
 
Quote from piezoe:

Yes, that's right. You don't see gaps on the daily ES bars of course because they include the overnight session since a trading "day" for the ES is not the same as 9:30-4:00 RTH.
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Nah we were talking about RTH ES only, there are very few gaps on the ES if we include ETH, you wont find many even on the minute charts.

ES RTH range on 1st May = 1391.25 - 1411.75.

ES RTH on 2nd May opened at 1394, so the open was well within the trading range of 1st May. Its not a gap on the daily, not according to most traders' definition anyway.

Anyway please continue this discussion on gaps in other thread (if you are interested), I don't want to clutter up this journal with this stuff. :)

http://www.elitetrader.com/vb/showthread.php?threadid=241860
 
Quote from trickshot:

Nah we were talking about RTH ES only, there are very few gaps on the ES if we include ETH, you wont find many even on the minute charts.

ES RTH range on 1st May = 1391.25 - 1411.75.

ES RTH on 2nd May opened at 1394, so the open was well within the trading range of 1st May. Its not a gap on the daily, not according to most traders' definition anyway.

Anyway please continue this discussion on gaps in other thread (if you are interested), I don't want to clutter up this journal with this stuff. :)

http://www.elitetrader.com/vb/showthread.php?threadid=241860
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Trick there are partial gaps and full gaps. Note the distinction.

http://stockcharts.com/help/doku.php?id=chart_school:trading_strategies:gap_trading_strategi

Edit: (oops, apologies for not posting this on the other thread).
 
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