ES Journal - 2017/2018

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Builder17 said:
is it even commonly agreed/proven/etc that gaps matter?
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They are generally filled at some point or indicate reversal like island reversal. although you could also have a breakaway gap. Many times, a good purchase point would be at the high of the day before the gap occurred.
 
Pekelo said:
OK, I am stupid, but why do you love losing money even if it is just paper gains? Masochistic much?
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Pullback makes the next move stronger and gives me an opportunity for day trade longs so I don't have to chase the market.
 
Buy1Sell2 said:
--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 .
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If TIME-BASED FASTER THAN A DAILY, if/when the chart is configured to RTH (or whatever start and end times are equivalent to a daily bar), opening gaps can be seen, annotated, defined, and most importantly, used by traders.
 
I wish somebody would have told us in advance that the direction is about to change. Oh wait...

Pekelo said:
I think the SPX has topped...
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OK, I was 10 points and a day early, but here we are 20 points below the quoted top call with the bearish island reversal...
 
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