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Good gap close potential

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Not applicable
Good potential to close the gap and move to around 30200
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54 REPLIES 54
Rams
Super Contributor
entry for gap close will 30366
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Rams
Super Contributor
entry for gap close will be 30366
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Sentiment
Contributor
If you trade the gap do you usually enter positions before the JSE opens or after? Is there usually a big movemement in the ALSI as soon as the JSE opens?
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Sentiment
Contributor
If you trade the gap do you usually enter positions before the JSE opens or after? Is there usually a big movement in the ALSI as soon as the JSE opens?
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Not applicable
as I have told you beore a double top is always a good short entry...30480 my entry
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Not applicable
sentiment sorry that was for rams...i usually scale in...480 just seemed very obvious to start having a nibble
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Rams
Super Contributor
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Not applicable
No there is not. The larger move comes when the ftse open at 10 am (9 am when daylight saving is off). This is by far the more important move and usually set the tone for the day.
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sponono
Super Contributor
were you not short overnight?
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Not applicable
yes but a very small position way withing my per trade loss parameters of 2.5% of portfolio (.5 % in fact). Now at breakeven.
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Rams
Super Contributor
you should have closed the overnight position. I know i would have or the market would have taken me out....
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Not applicable
no need to the trade is now in profit...thats the difference between a bank call centre worker and a trader.
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Electrox
Super Contributor
if this gap does not close.. i feel for the shorts calling divergence on this top..
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Rams
Super Contributor
so you add to your position when the market moves against you?
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Not applicable
but on your own website, you have a golden rule (chartist's rules) that say no overnight positions?
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Not applicable
on day trades yes...thanks for visiting the site though.
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Electrox
Super Contributor
yes he does..."contrarian trading i presume" he would have had added atleast double wat he held short overnight to breakeven at the point he said he is breakeven..shorts on a nice little bull leash today..they are are doubling up to hope for this gap to close..not saying it wont but the bulls know who is in pain..
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Not applicable
so then what instruments are you using for overnight positions?
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Rams
Super Contributor
Alsi, a good trader would have have closed the overnight short, irrespective of where the market is headed today.
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