Welcome to NexusFi: the best trading community on the planet, with over 150,000 members Sign Up Now for Free
Genuine reviews from real traders, not fake reviews from stealth vendors
Quality education from leading professional traders
We are a friendly, helpful, and positive community
We do not tolerate rude behavior, trolling, or vendors advertising in posts
We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community. It's free for basic access, or support us by becoming an Elite Member -- see if you qualify for a discount below.
-- Big Mike, Site Administrator
(If you already have an account, login at the top of the page)
I have a question for Index traders who are in the marked every day. Have you noticed anything strange about the price action on Tuesdays in the NQ, YM, or ES lately? In the last 3 months or so, I have had more failed trades on Tuesdays than any other day, with all things being equal as far as I know.
Does anyone else have this experience? Maybe just coincidence or superstition, but I wonder if something behind the scenes might make Tuesdays different.
Just shooting in the dark, guys.
Thanks
Can you help answer these questions from other members on NexusFi?
There is a service out there that uses historical data about daily moves which says that Tuesdays and Thursdays are "trend days" in the ES and NQ. However, I don't always see Tuesdays as trend days. I think it might be historically accurate, but I don't think it is currently accurate. Not that I have any research, data, or support for this position, but I think it has a lot to do with 0DTE options.
Instead, I see a lot of trending days followed by periods of consolidation and back filling price to cover areas of low vertical volume. Over the summer, there has been some longer term consolidation which is a different trade than the trending markets that people enjoy. I attribute that to hesitancy related to the economy.
I trade both kinds of days using volume distribution.
Again, no empirical data to support this position. Just my opinion.
In the past the Tuesday was called "Turnaround Tuesday" because after a sell-off on Mondays, there was very often a huge rally, made back the sell-off and some. But as you know, changes happen
I am definitely not trying to get in trouble on my first day. I am going to have to read the rules first because I know they are a bit atypical here than at other sites.
I am definitely not affiliated with them. It was called Alpha Crunching. I don't have enough posts yet to give the link. I did not actually use their services so I probably am not fully qualified to write a review.
In my personal observations and conclusions that are intrinsically linked to my style of trade, which is momentum, in general Tuesdays have below average difference between HIGH and LOW of the day, thus making potential big moves a bit of rarity. I have read somewhere that Tuesdays are in the middle of establishing general weekly market sentiment, which usually reaches its maximum on Thursdays and then tapers off. So I would say if you insist on trading on Tuesdays then a bit different approach to your current style is required i.e. approach designed to profit while trading in the range. Otherwise staying out could be actually quite profitable tactic as well.
