16 06 10 Gap Day. Playing between ES and YM levels.
Posted 06-20-2010 at 04:34 PM by gcabrera
This was a Gap Day
8:05 Price was moving to fill the gap but prior to filling it, there was big divergence with a sell of 320lot that was not very convincing in size to enter there. I have marked it to show how divergence worked.
8:13 Divergence Upside following big order buying of 624 that made me doubt since another seller with 400 appeared before. Actually worked and was a bounce to already broken 10300 YM level.
8:20 Divergence Downside twice but big battle between buyers and sellers that kept me aside. I started to think that a test at the open was the plan.
8:23 Price falling with divergence, and 452 buying lot prior to touching open line. I did not wanted to miss the trade so I placed my entry 1 tick above it and get filled. Since the price did not move quickly, I moved my target to scratch it.
8:23 - 8:42 Open level was breached but as price was falling many big orders buying appeared, but no divergence to take action.
.
8:42 Big purchase of 642 send price above today open with small divergence. Not clear enough and did not take trade.
8:48 Price retraces after bouncing at 10300 level in YM, to test open level again with a divergence that I call Hard Break, guess one of the best to take trade. Waited for a new big lot buying to appear so I missed the trade.
9:05 Another hard breaks entry missed waiting for big lots confirmation, in pullback after breaking 10300 YM. Hummmm...
9:14 - 9:24 Price approaching to fill gap and many divergences, with big sellers, good for taking profit there or fading yest close. But big sellers not as big as I would like them and YM gap was not filled yet.
9:27 YM gap filled, divergence down, then ES price turned back down.
9:33 Divergence up but no big lots, pass.
9:39 Divergence but not in the recent fall but, compared to 9:27 low. To far to trust but a 510 buying order should have given me the guts. Humm, guess I think it is somewhat aggressive, even though was the start of price breaking to test yesterday high.
10:04 Big buyers broke yesterday high and stopped exactly when after breaking YM yesterday High.
10:19 I did not get filled at 1100.75 waiting for price to give me one more tick, even though there was divergence and while price was stalling, AT line continued to move up. I actually expected to move a little lower since thought it was going to test yest close in YM.
10:44 Sellers moved price to test yesterday close and since i did not see big buyers did not feel confident to keep my entry there, even though there were double divergences supporting the trade. It worked but it took a very long time to start moving.
11:34 Divergence down, big sellers, good to try it.
12:04 Divergence Down, big seller, but only one. Worked. Happened after breaking yesterday high YM.
12:14 First divergence testing Yest High YM, not good, but with big buyers.
12:24 Double divergence that I missed sitting my entry at yesterday high ES, worked to get out at 12:30 after hard breaking divergence. Many buyers tried to save the rally but finally lost.
8:05 Price was moving to fill the gap but prior to filling it, there was big divergence with a sell of 320lot that was not very convincing in size to enter there. I have marked it to show how divergence worked.
8:13 Divergence Upside following big order buying of 624 that made me doubt since another seller with 400 appeared before. Actually worked and was a bounce to already broken 10300 YM level.
8:20 Divergence Downside twice but big battle between buyers and sellers that kept me aside. I started to think that a test at the open was the plan.
8:23 Price falling with divergence, and 452 buying lot prior to touching open line. I did not wanted to miss the trade so I placed my entry 1 tick above it and get filled. Since the price did not move quickly, I moved my target to scratch it.
8:23 - 8:42 Open level was breached but as price was falling many big orders buying appeared, but no divergence to take action.
.
8:42 Big purchase of 642 send price above today open with small divergence. Not clear enough and did not take trade.
8:48 Price retraces after bouncing at 10300 level in YM, to test open level again with a divergence that I call Hard Break, guess one of the best to take trade. Waited for a new big lot buying to appear so I missed the trade.
9:05 Another hard breaks entry missed waiting for big lots confirmation, in pullback after breaking 10300 YM. Hummmm...
9:14 - 9:24 Price approaching to fill gap and many divergences, with big sellers, good for taking profit there or fading yest close. But big sellers not as big as I would like them and YM gap was not filled yet.
9:27 YM gap filled, divergence down, then ES price turned back down.
9:33 Divergence up but no big lots, pass.
9:39 Divergence but not in the recent fall but, compared to 9:27 low. To far to trust but a 510 buying order should have given me the guts. Humm, guess I think it is somewhat aggressive, even though was the start of price breaking to test yesterday high.
10:04 Big buyers broke yesterday high and stopped exactly when after breaking YM yesterday High.
10:19 I did not get filled at 1100.75 waiting for price to give me one more tick, even though there was divergence and while price was stalling, AT line continued to move up. I actually expected to move a little lower since thought it was going to test yest close in YM.
10:44 Sellers moved price to test yesterday close and since i did not see big buyers did not feel confident to keep my entry there, even though there were double divergences supporting the trade. It worked but it took a very long time to start moving.
11:34 Divergence down, big sellers, good to try it.
12:04 Divergence Down, big seller, but only one. Worked. Happened after breaking yesterday high YM.
12:14 First divergence testing Yest High YM, not good, but with big buyers.
12:24 Double divergence that I missed sitting my entry at yesterday high ES, worked to get out at 12:30 after hard breaking divergence. Many buyers tried to save the rally but finally lost.
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