ES Journal - 2017/2018
- Thread starter Buy1Sell2
- Start date
- Status
WRONG.
It isn't the time frame but the closing and opening price DIFFERENCE, duh!!! Charts are visual representations of price movements but not necessary to determine the existence of gaps...
Last edited:
This is not correct. Using this type of analysis cause the trader to numerous gaps at nearly every place on a chart when gaps do not exist. This is way too much information. The only gaps that need to be looked at are on the daily chart and those only occur when the price's high and low occurs outside of the previous days noise.
Last edited:
As long as the chart is configured to display RTH only, ANY time-based chart can be used to see the opening gap. I don't think anyone is talking about bar-to-bar price gaps, only the opening gap.
When we close the 5 left behind gaps in 2-3 days, you will see... The current gap action is very strange and unusual, but eventually fundamentals do matter.
"Nature abhors a vacuum" as Galileo would say. Or Newton. Can't remember, but one of the Bestie boys...
In your scenario then, a gap would be created nearly every day and that is just not the case. Gaps are defined by a day that has it's high and low both outside the previous day's activity (noise).
nearly every day has an "opening" gap. This is inconsequential. Daily gaps are what are of import.
--and as you can see from Rocky's chart, the only gap on his 15 min frame that hasn't been filled yet is the one that I pointed out at the far and it can be seen on the daily chart. The rest of these "opening" gaps may be fun to look at and perhaps use intraday since you might expect them to be filled same day, but they are not gaps in the truest sense of how traders use them. Real gaps are defined by the daily chart and no other .
- Status