Initial Balance and the New York Open
|November 18th, 2013, 04:19 PM||#11 (permalink)|
Futures Experience: Advanced
Favorite Futures: ES, YM
Posts: 46 since Jan 2011
Thanks: 1 given, 70 received
One thing I have noticed about the stock indexes is that they tend to put in their first real swing points up and down on the day within the first 15 - 20 minutes of the session. That alone could be why she chose that time period.
I tend to look at opening ranges as context cues. How big is it? Did the market respect it at first test or run right out, etc. One thing they can help you with is identifying a trend day. Look for the market to break out and not look back. At that point you look to get in on a retracement.
Last edited by ValueFocused; November 18th, 2013 at 04:50 PM.