are Wednesday's always "Red" days? I'm curious as since i started i noticed that in many weeks (don't have a ratio but, let's say, majority) wednesday's are down days for the US market (looking at $ADVN vs $DECN), and overall performance of major stocks.
is there a technical or economic explaination behind this?
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while you're looking at the figures, can you share the ratio of wednesday's that open with a gap down, or open in negative territory .. i think it's more in the open than the close (i mean my observation). if the stats doesn't reflect that, then i stand corrected, and i'll owe it to you that i got rid of my wednesday's paranoia
it's interesting.. i'm looking at a 90-day hourly chart of the ES.. there's 12 wednesdays .. and 9 out of them the first 2 hours after Open the ES goes red.. it can open with a gap up, but then takes a dive for the first couple hours ..
even my wife jokes about it now .. if it's a wednesday, she reminds me to stay away
until i get my hands on a platform that can help me validate this (export hourly data, anlayze it..etc), guess i'll just convince myself i'm being paranoid ..
thanks a lot for the help and responses..
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Checked all my Wednesday's DAX trade results this year:
one out of four trades was negative - three were positive. The Wednesday GFIs1 rule says to go short in the morning
(time depends on the given situation). The first 30 IB minutes don't have an effect here. One exception of this short
is only if wednesday had a downgap to previous Tuesday - then the rule says to go long.
Have seen this this pattern and it works fine - an explanation could be that money is coming into the markets on
Monday and Tuesday. Some cash in happens on wednesday.
So it looks good that wednesday is sort of a turning point in the week.
Edit to be more precise: I am trading only the first 2 to 5 hours of the day - as on Wednesdays often many US numbers
are coming during the afternoon (before US opening) - these times are not good for pattern trading.
So I am *not* looking at a total red wednesday but seeing 95% chance for short for the beginning of the day.
This is different to the question in the homework thread.
Last edited by GFIs1; November 29th, 2012 at 03:13 AM.
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