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new Emini hours problems!!!


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new Emini hours problems!!!

  #11 (permalink)
 
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 matthew28 
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Volt View Post
Did Dalton happen to say how he deals with gaps and if he is letting it run until 5 pm EST ? reason I ask is because if you look at last Thursday as an example the market had a 6 - 7 point run up into the 5 pm close and left single prints . Yesterday we tested that high but if you cut off your session early then you would not see the gap fill.

The close is just another line/reference he puts on his chart. His Market Profile chart is RTH and his definition of a gap is if the market opens the RTH session above or below the previous day's RTH range. So a gap up would only be filled by his definition if it closed the gap down to the previous day's RTH high, whether the end of day close had been higher or not.

Personally I am ignoring the close as on the majority of days the volume drops off after the settle at the end of the RTH session. Otherwise for me it is just another level on the chart that price might or might not bounce off.

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  #12 (permalink)
 Volt 
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yes, I agree with the definition of the gap , the problem came yesterday as Daltons camp was not using all the range from last Thursdays day session ( 8:30 - 16:00 cst) so they missed the gap fill on short side. Didn't even have it marked as a reference. They are still "carrying that forward" which I think will be the wrong thing to do but as long as we eventually sell off then that gap ( using Daltons trading hours) will fill .
matthew28 View Post
The close is just another line/reference he puts on his chart. His Market Profile chart is RTH and his definition of a gap is if the market opens the RTH session above or below the previous day's RTH range. So a gap up would only be filled by his definition if it closed the gap down to the previous day's RTH high, whether the end of day close had been higher or not.

Personally I am ignoring the close as on the majority of days the volume drops off after the settle at the end of the RTH session. Otherwise for me it is just another level on the chart that price might or might not bounce off.


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  #13 (permalink)
 
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 josh 
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For years I've used 9:30am - 4pm ET because those are cash hours. Now that the settlement has been moved to coincide with the cash close, there is truly nothing special about 4:15pm, or 4pm - 5pm ET, any more than there is about any other non-cash time. The alignment of settlement and cash close creates a consistent reference point. Settlement is when accounts are marked-to-market. The last trade at 5pm ET has no special meaning, unlike the 3:59:30 - 4:00:00 VWAP settlement. So for the purposes of a "day session," 9:30am - 4:00pm is the most logical. Most importantly, do what you want to do -- there are no rules... it's your chart, and you can do whatever you want

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  #14 (permalink)
 Volt 
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It's things like this that keep me watching that 5 pm EST close. There are many of these close tests if you go back and look at charts the past few weeks. I'm not selling anyone on the close and we all will do what we want but this is why it is import to me. Left profile is end part of yesterday with 5 PM EST close as red asterisk right side is how we are unfolding today but I encourage all to do their own research and draw own conclusions . Really do appreciate the feedback from the participants in this thread.





sorry I think I've strayed off topic at this point !

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