nice gap play in progress on futures...

[#1]

gapped up 270 pts

[earlyret]

gotta be worth a flutter...

[PaulC]

Correct me if Im wrong but the plan here is to wait for the gap to close then go long? Still dont fully understand gap plays. - P

[earlyret]

dont fully understand either, but for todays scenario, go short to close gap from todays open to last nights close ??? maybe let those in the know enlighten us... again!

[#5]

could be a possibility but gap play is about trading that gap...today to go short when the open level is taken out....

[#6]

is this bloody gap closed yet...loosing my patience with this market. Maybe it's time close all positions and start practising my arm for Saturday's game.

[#7]

My own ripped, buffed, six-pack, eat yer heart out Robby Williams-feeling is that the bull is about to sit isself down for a breather.

[#8]

Could be seen as a close - we hit 28775, which is where the futures were at 5pm yesterday (the close of the spot market), but not at the close of the futures market, which was lower. If you use spot prices to enter and exit positions, you would have closed the gap.

[SKALA]

Hi Chartist; do we now consider the opening gap of today closed and possibly go long up to resistance? What about gap of 11/12 Oct? Praat met my boet!

[#10]

Skala ...ja i think thats the case just watch tthe 28903 level....we may retrace from this...if we go through we should do as you propose...

[SKALA]

Dankie boet. Feel cautious regarding DJ direction; will wait to see what happens EOD.

[#12]

Ja...you see what happened right now we rallied about 50pts and then we dropped right down...no conviction in the buying....but also lots of shorts out there which could trigger a rally....the gap isnt closed yet

[saash]

I've been watching this for weeks, and have got the hang of it, it's almost religious childsplay. I Want to start trying to trade these moves. What do I need to set it up?

[SKALA]

Retrace as you called!

[#15]

Skala...we rallied almost exactly up to that 28903 level ....if the FTSe drops through that 6650 level...we go down...

[Q2W]

Chartist I see on It-Finance you spot the gap with close line charts. Is it more effective with close line (on IT-finance) or bar/candle graphs? Thanks

[#17]

Skala...see how we gap up 20 - 30 pts...thats a typical of short squeeze...one has to be very careful as a rally will be swift...but I favour the oppsosite at the moment

[SKALA]

Which FTSE chart you working with; cash, Oct forward or Dec forward?

[#19]

cash,,,there we go....down

[#20]

should lose about another 200 pts today....