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Do you look at overnight data?


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Do you look at overnight data?

  #1 (permalink)
Pete Schweaty
Baltimore MD
 
Posts: 54 since Jun 2013
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For those of you that look at commodities, on your charts, do you show the extended session or hide it? Why?

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  #3 (permalink)
 
PhDTrader's Avatar
 PhDTrader 
Arlington Virginia
 
Experience: Intermediate
Platform: TOS
Trading: Options
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I do - in TOS. My Gap strategy does not necessarily require that I do so, but combining (showing and knowing) the overnight session activity sometimes ties-in to other thoughts I have in my mind for my swing trades in equities.

For instance, say I am confident that the Gap is "x" points from YC, and my requirements with regard to risk, etc. allow me to confidently take that Gap trade, I'll do it. However, combining both current and overnight news/market events may make me decide to either not take that trade, or execute a conservative version of said trade.

Cheers.

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  #4 (permalink)
Pete Schweaty
Baltimore MD
 
Posts: 54 since Jun 2013
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I do. I was just wondering what everyone else looks at. I like to see the highs and lows put in the overnight market.

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  #5 (permalink)
 HedgeFundAleksan 
Limassol, Cyprus
 
Posts: 7 since Oct 2013

i do.

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  #6 (permalink)
 
Beljevina's Avatar
 Beljevina 
Toronto, Canada
 
Experience: Advanced
Platform: NinjaTrader, SierraCharts
Broker: Amp/CQG, IB
Trading: CL, GC, 6E, ES, RTY, EURUSD, GBPJPY, AUDUSD
Posts: 352 since Sep 2010

I absolutely do. I think Big Mike has an analogy about it something to the effect of driving your car, and doing so with eyes closed part of the time.

It has different relevance for different instruments. It may or may not be a question of retesting those same levels in the immediate follow-on RTH session, or it maybe in future sessions. Something drove price to those levels outside of the RTH session, albeit usually with less volume: the points it stops at are educational and noteworthy. Range of bars is relevant. I look at volume from both the tape (vvAggregated) and the Gom orderflow chart prints - how one can ignore these valuable variables is perplexing to me. Ironically, for a few traders I've seen who do not look at the ETH levels, they do pay attention to opening and closing gaps - but not to look at what happened within the times that represents those gaps (ie., 60%+ of the day), makes no sense to me.

And BTW, CL is my main trading instrument. In fact, I am a huge fan of (starting) trading the pre-London open and looking for important and often repetitive patterns and level tests; sometimes they are just scalps, other times, I am able to get runners into the RTH session, almost exclusively because of what happened in the previous RTH session, and the ETH session price reacting to it.

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  #7 (permalink)
Pete Schweaty
Baltimore MD
 
Posts: 54 since Jun 2013
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Beljevina View Post
I absolutely do. I think Big Mike has an analogy about it something to the effect of driving your car, and doing so with eyes closed part of the time.

It has different relevance for different instruments. It may or may not be a question of retesting those same levels in the immediate follow-on RTH session, or it maybe in future sessions. Something drove price to those levels outside of the RTH session, albeit usually with less volume: the points it stops at are educational and noteworthy. Range of bars is relevant. I look at volume from both the tape (vvAggregated) and the Gom orderflow chart prints - how one can ignore these valuable variables is perplexing to me. Ironically, for a few traders I've seen who do not look at the ETH levels, they do pay attention to opening and closing gaps - but not to look at what happened within the times that represents those gaps (ie., 60%+ of the day), makes no sense to me.

And BTW, CL is my main trading instrument. In fact, I am a huge fan of (starting) trading the pre-London open and looking for important and often repetitive patterns and level tests; sometimes they are just scalps, other times, I am able to get runners into the RTH session, almost exclusively because of what happened in the previous RTH session, and the ETH session price reacting to it.

Great points. Thanks for the input.

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  #8 (permalink)
 Itchymoku 
Philadelphia
 
Experience: None
Platform: corded black telephone
Trading: ticker tape
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Pete Schweaty View Post
For those of you that look at commodities, on your charts, do you show the extended session or hide it? Why?

I show the extended session because previous highs and lows at any time of day cause price to react different than if they weren't there.

R.I.P. Joseph Bach (Itchymoku), 1987-2018.
Please visit this thread for more information.
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  #9 (permalink)
 
xiaosi's Avatar
 xiaosi 
Brisbane, Queensland, Australia
 
Experience: Advanced
Platform: JIGSAW/SIERRA CHART
Broker: MacQuarie Futures/AMP Clearing/CQG
Trading: HHI, HSI, FDAX
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Agree that ETH high and low, as well as the VWAP and POC should be noted as key areas.

IMO....

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  #10 (permalink)
 Amsterdam Whale 
Victoria, BC
 
Experience: Intermediate
Platform: NT7
Broker: DTNiQFEED, IB broker & B/U data
Trading: CL, 6E, TF, NG, Acoustic Bass
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Beljevina View Post
I absolutely do. I think Big Mike has an analogy about it something to the effect of driving your car, and doing so with eyes closed part of the time.

It has different relevance for different instruments. It may or may not be a question of retesting those same levels in the immediate follow-on RTH session, or it maybe in future sessions. Something drove price to those levels outside of the RTH session, albeit usually with less volume: the points it stops at are educational and noteworthy. Range of bars is relevant. I look at volume from both the tape (vvAggregated) and the Gom orderflow chart prints - how one can ignore these valuable variables is perplexing to me. Ironically, for a few traders I've seen who do not look at the ETH levels, they do pay attention to opening and closing gaps - but not to look at what happened within the times that represents those gaps (ie., 60%+ of the day), makes no sense to me.

And BTW, CL is my main trading instrument. In fact, I am a huge fan of (starting) trading the pre-London open and looking for important and often repetitive patterns and level tests; sometimes they are just scalps, other times, I am able to get runners into the RTH session, almost exclusively because of what happened in the previous RTH session, and the ETH session price reacting to it.

I'd like to , if I may, address what I realize was a hypothetical question from you and mostly just an expression of astonishment, but .... As a former hardcore gap trader (& high prob setups + opening range breakouts) who is just now 'going Gomi' (ooh, I like that.... feel free to use that one, it's on me ;>) I suspect that my erroneous assumptions about market profile are widespread enough to at least partially answer your question.

It was quite simple, though at the time I had a litany of fake excuses I half-believed: All those pretty colours, all that 'stuff' on the chart, and the zealousness of a vocal usergroup, really looked to me that market Profile was completely new method that would require another ten thousand hours to master enough to profit by. I told myself that the hard won skills I'd developed and which had cost be about 25k to learn, would need to be binned so as not to defile the sanctity of Market Profile. Did I know how wrong I was at the time? Partially. But partially was more excuse than I needed.

Srry off topic - only allowed myself as we're low traffic thread here. Your comments were excellent food for thought for me and continue to inspire objective(ish!) self appraisal. Cheers.

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Last Updated on November 23, 2013


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