Tough trading gap ups

You need to back-test/check as many of these as you can such that you know what to expect.

By big gap up, I assume you mean a gap outside yesterday's range.

Since 2015, 65 % of these type of days will at least touch the prior day high. A whopping 78 % will close green on the day. And a whopping 70 % will close above the prior day range.

In order to know what to expect, you might need more information.

But generally speaking, it's usually not a good idea to chase the long side on this type of Open, but sell into an initial rally for at least a pullback to the prior day high. Evaluate your entry when price gets there.
 
upload_2023-9-30_3-30-46.png


TODAY NAZ NUVEEN ARIZONE QUALITY MUNICIPAL INCOME FUND GAPPED UP.

see NAZ HOURLY CHART

you can't see the forest for the trees if you don't see the bigger picture.
 
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upload_2023-9-30_3-32-48.png


NOW SEE NAZ DAILY CHART.
It has been on a downtrend since January 2022!!!!

It is OK to zoom in to look at the details.

BUT!!! It is important to zoom out and look at the big picture / helicopter view!!!

Even though it gapped up today, it is a very very very trivial matter.


now stop talking nonsense!
 
MarkBrown said:
It sounds like you're referencing a trading scenario, possibly discussing the Nasdaq stock market (often abbreviated as "Naz") and its opening performance on a particular day.

When traders talk about markets "opening big," they typically mean that there's a significant price gap between the previous day's close and the current day's open, which can be caused by various factors including overnight news, earnings reports, geopolitical events, or other market-moving information. Such situations can indeed be challenging to trade due to the heightened volatility and unpredictability.

Your approach to wait for a setup is a prudent one. Many traders prefer to wait for the market to show its hand before jumping in, especially in volatile situations. They look for recognizable patterns, favorable risk-reward setups, or other indicators that align with their trading strategy.

To answer your question from a hypothetical standpoint: Different traders have different strategies. Some might jump in hoping to catch a continuation of the momentum, while others might wait for a pullback or other setups. Some might stay out altogether if the conditions don't align with their trading plan.

Remember, the key is consistency in approach, managing risk, and making informed decisions based on your analysis and strategy, rather than emotions.
More...

Sorry, couldn't resist..

Yo, listen up, I gotta story to spit, About trading Nasdaq, and you know I won't quit. They call it "Naz," it's where the game begins, But your moves, man, they're like rookie sins.

You talk about "opening big," like it's your game, But you're lost in the maze, ain't that a shame? Price gaps and factors, you can't comprehend, You're just chasing trends, not making amends.

I wait for the setup, that's how I roll, While you're out there, losing control. I see the patterns, I see the signs, You're just guessing, wasting your time.

Hypothetical talk, it's all you do, Different strategies? Man, you're lost in the blue. Jumping in blind, hoping for the best, I'm in it for the long run, outlasting the rest.

Consistency, risk management, that's my creed, While you're driven by greed, I succeed. I make informed decisions, stick to my plan, You're driven by emotions, a lost man.

So step back, take notes, learn from the pro, I'm the king of this game, don't you know? In the world of trading, I'm the boss, And you, my friend, you're at a loss.
 
maxinger said:
View attachment 324073

TODAY NAZ NUVEEN ARIZONE QUALITY MUNICIPAL INCOME FUND GAPPED UP.

see NAZ HOURLY CHART

you can't see the forest for the trees if you don't see the bigger picture.
More...
%%
I dont have a problem with your posting low volume stuff LOL-that your business.
Try reading @ a minimum or better a max read LOL, the headline next time '' Tough Trading Gap Ups'' LOL:D:D[NASdaq is pronounced NAZ, but sounds like you just wanted to post a low vol
chart LOL]
 
Axon said:
Sorry, couldn't resist..

Yo, listen up, I gotta story to spit, About trading Nasdaq, and you know I won't quit. They call it "Naz," it's where the game begins, But your moves, man, they're like rookie sins.

You talk about "opening big," like it's your game, But you're lost in the maze, ain't that a shame? Price gaps and factors, you can't comprehend, You're just chasing trends, not making amends.

I wait for the setup, that's how I roll, While you're out there, losing control. I see the patterns, I see the signs, You're just guessing, wasting your time.

Hypothetical talk, it's all you do, Different strategies? Man, you're lost in the blue. Jumping in blind, hoping for the best, I'm in it for the long run, outlasting the rest.

Consistency, risk management, that's my creed, While you're driven by greed, I succeed. I make informed decisions, stick to my plan, You're driven by emotions, a lost man.

So step back, take notes, learn from the pro, I'm the king of this game, don't you know? In the world of trading, I'm the boss, And you, my friend, you're at a loss.
More...

Apropos since today they just arrested the now-prime suspect of Tupac's murder.
 
murray t turtle said:
%%
I dont have a problem with your posting low volume stuff LOL-that your business.
Try reading @ a minimum or better a max read LOL, the headline next time '' Tough Trading Gap Ups'' LOL:D:D[NASdaq is pronounced NAZ, but sounds like you just wanted to post a low vol
chart LOL]
More...

NAZ - it is a fund NUVEEN ARIZONE QUALITY MUNICIPAL INCOME FUND
NASDAQ - It is an Exchange. It is also an index
NQ - it is Nasdaq Futures
 
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