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)
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?
Can you help answer these questions from other members on NexusFi?
I often think of trade ideas, but seldom have time to perform analysis on them. I have even thought of hiring an "intern" type of person that could crunch numbers all day, but I thought I would try this thread first.
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
In the time frame mentioned in my last post there were no Wednesdays that gap opened lower.
During that period there where only 13 days in total that gap opened lower.
My definition of gap open lower: Open at least one tick lower than low of previous day.
BTW: This is ETH and RTH and I don't know how to get only RTH data in the spreadsheet using Sierra charts.
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 ..
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.
GFIs1
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.
