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Trading the 6E Old School, With a Twist
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Trading the 6E Old School, With a Twist

  #161 (permalink)
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yes on the 2am est

also another thing to look for if LON (3am est) continues GER or reverses

goes along the lines with most don't want to buy at highs so they (whom ever) will offer it down then bid it up

today is a fairly good example GER offered it down then they (GER & LON) bid it up

another thing to keep in mind is the 4am reversal


Cash, not trying to steal your thread just trying to throw in my two cents with hopes/ glimmer of help

Bill

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  #162 (permalink)
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All significant European markets open at 3am ET and close at 11:30am ET.

Frankfurt exchange (Dax) opens at 9am CET which is UTC+1 and thus 3am EST.
Stoxx 50 index trades same hours.
London stock exchange opens 8am GMT, thus 3am EST.

Futures on DAX, stoxx and other eurex products opens at 2am, but the cash markets open at 3am EST.

Note that this applies when both Europe and the US are on daylight saving time. The week or two when they are not aligned is different but this is the only time.

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Cashish, I would like to share a nice scene from yesterday where I am vacationing with family and friends this week, since you were kind enough to share your beautiful picture. I hope everyone is having a great thankful holiday filled with gratitude and joy and not thinking too much about markets. I checked in today a couple of times to keep up with things, but by far my focus was on more important things. Happy Thanksgiving everyone.

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josh View Post
Why do you start your vwap at the 2am european futures open instead of the 3am European cash open?

Thanks for stopping by and keeping this thread on the straight and narrow.

I've never been to Frankfurt, I don't know when they open the doors and allow traders to enter. I do know time is becoming less and less important. To answer your question I'm going to 'take the long way around the barn.'

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List of market opening times - Wikipedia, the free encyclopedia


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Market Clocks


As trading floors become a thing of the past I've focused more and more on volume. There's plenty of market moving economic data released between 2 and 3am that draws volume. I blew up these charts showing a simple moving average of volume, the first chart is an hourly chart with a ten period average, I've marked the 2am bar for the period of one week.

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This chart is a 5 minute chart, it also has the same 10 hour average charted. It is a little harder to see but volume usually begins to exceed the 10 hour average right at 2am.

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I've used the 2am time for the beginning of my charts (Euro-6E) for many years, based mostly on the steady ascent of volume which is apparent in the previous two charts. To further clarify, near the beginning of this thread I defined my trading time as a "synthetic trading session," one that is not based on opening bells but based on volume. You being a "stickler for perfection," (IMO ) may appreciate that. So where does that 2am volume come from, I don't know, I don't care, I just know it's there.

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Also, to comment on @WilleeMac 's last post. I keep a running average of the price movement during the hour between 2 and 3am. Since my last calculation prior to the holiday, I've found that 75% of the time (15 of 20) either the high or the low of the 2am 1 hour bar will remain the high or the low at 6am (end of my synthetic session)and often the entire Globex session, I'll leave it to you to find that average .


Last edited by Cashish; November 25th, 2012 at 04:21 PM.
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The New Trading Pit ---- Walmart

Sometimes I'm embarrassed to be an American




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WTF


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The New Trading Pit ---- Walmart

Sometimes I'm embarrassed to be an American




That is unreal. What has society come to??

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  #167 (permalink)
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Flat-faced Volume Profile

Remember what Cashish stressed/emphasized about flat-faced volume profiles/histograms. Price can travel thru the entire value area with ease.

I positioned my self outside the VA and did ok

emini

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eminitrdr View Post
Remember what Cashish stressed/emphasized about flat-faced volume profiles/histograms. Price can travel thru the entire value area with ease.

I positioned my self outside the VA and did ok

emini

I'm assuming you went SHORT at the red arrows and covered at the circle, NICE. You took the meat out of that sandwich and didn't leave much crust. That is a good setup and it works going North and South,, regardless the longer term trend. Because, you are trading the normal rotation of a consolidating market. If you keep your eye on the VP as it's building while you're IN THE TRADE you may begin to identify when it WON"T work. Nonetheless, you did a fine job identifying the set up and placing your orders.

How about this one.

Buying '86 and '84 and targeting even. BUT, with the Buy Number under even and price UNDER the -2SD level AND the time of day ,,,, I took profits at '96,,, two ticks under the SN. Taking a long in this trend will get your blood pressure up, it did mine when price hit my target (and didn't fill me) and came back in my face.

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There's no School like the Old School

Thanksgiving

FWIW, I wanted to throw this out there, late I know but I was busy over the Holiday. The Euro has a history of making nice moves the day AFTER Thanksgiving. Over the last 10 years the Friday range is on average 207% of Thursday's range. The five year average is 213%. Whether you're up to the challenge of trading Black Friday or not there is opportunity, and armed with statistics that say the smallest range expansion was 100% and the largest was 350% some of the uncertainty of being caught in a range bound market are alleviated. Another concern that deters traders from trading short sessions around holidays is volume, but if traders put in the time to find the actual statistics they may be surprised. As I recently posted I base a lot of my studies on volume, I also use the 10 day average as a basis for many calculations. As an example, Friday's volume was more than 75% of the 10 day average, not bad considering the market was only open 87% of the normal session. This years range came in as the second largest in the last five years, "just a bit outside" (under) the 10 year average. Sometimes I trade 'em, sometimes I don't, but I always keep my BOOK.

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  #170 (permalink)
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Cashish,

What is a good node value (row height, pip etc) for the composite on a 20 day 15m?

10 pips, 6 pips, 3pips etc

On the daily profile I'm using a 1 pip row height (node)

Thanks

Bill

EDIT

If someone else wants to chime in,,,,,,,

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