If You Can Draw A Straight Line . . .

Status
Not open for further replies.
10:50 A break above R at 46 and out of the chop area below the MP of the downswing from 52. Buyers still have to make a HH to confirm....
 
Quote from stevegee58:

Is the opening low the same as the premarket low?
More...

No by definition, but almost today. The premarket low is what happened between the close and the open for me. Perhaps other members have different views about this.
 
My trading day:

attachment.php


1. After sellers failed to break below the premarket low and prices congested into a hinge, I waited for the BO of the hinge ant took the first RET (Not visible in the 1 min chart)

2. After reaching the MP of the movement from 52 buyers lost interest and sellers managed to set a LH triggering my first exit around the MP and the second one at the break of LSL. As I was at the MP and it looked like it had provided R i decided to take a Short, but then I realized I could be falling into the chop, so I decided to exit as soon as I had a chance, that came at 10:39 and I exited at BE.

Market was too slow for my taste, so I decided to call it a day 5 min to 11.
 
Quote from stevegee58:

Is the opening low the same as the premarket low?
More...

We tend to equate "opening" with the NY open, as though NY is the only market in the world. However, the volume as a rule occurs during the NY session.

The opening low, then, tends to be of greater significance because a greater number of traders created it. This is not to say that the premarket low should be ignored. Rather it should be considered among a number of factors, such as whether price swung wildly premarket or settled into a steady, tight range. What, in other words, might traders have in mind?
 
MSFT is clearly the tail wagging the NQ dog today. Not that a 12pt range is anything to sneeze at, but the tradeable range has been only about half that for the conservative trader.
 
Quote from dbphoenix:

We tend to equate "opening" with the NY open, as though NY is the only market in the world. However, the volume as a rule occurs during the NY session.

The opening low, then, tends to be of greater significance because a greater number of traders created it. This is not to say that the premarket low should be ignored. Rather it should be considered among a number of factors, such as whether price swung wildly premarket or settled into a steady, tight range. What, in other words, might traders have in mind?
More...

So the opening low is the low of the range formed some number of minutes after the NY open ?
 
Status
Not open for further replies.
Back
Top