YM Traders

Quote from lilduckling:

Your right... I dont know when! Especially a gap over 40pts like today. I stay ready... waiting.... until everything that i look at tells me that the play now has high odds of working. I only look to do one or 2 trades a day. Not looking for alot of points.... just a little to wet my beak. I concentrate on few plays... that have high odds of working out. Diffrent from stocks. My R/R is not as tight... but my batting ave is much better. Not every gap fills for the same reason.
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I love playing gaps, especially big un's like today. But I very seldom enter a trade based on the gap. Instead I wait for setups as normal, and if a gap exists in the direction of the trade, the gap provides target prices. In my expericence, gap price levels supercede other intraday support/resistance levels until filled. Gap fill levels seem to be magnetic!

I also keep track of unfilled gaps, again using them as target price levels... works especially well in trending markets, when existing unfilled gaps seem to be out-of range. Something I call "big air".

good luck
Osorico

as of 9:34 am MST...
long @11010
stop @10089
 
Quote from EqtTrdr:

bull markets = buy dips = highest %
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Exactly,

emini Russell just made new historical highs, very likely other indices will catch up soon as the Russell often behaves as leading indicator.
 
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