Jump to content

Welcome to the new Traders Laboratory! Please bear with us as we finish the migration over the next few days. If you find any issues, want to leave feedback, get in touch with us, or offer suggestions please post to the Support forum here.

  • Welcome Guests

    Welcome. You are currently viewing the forum as a guest which does not give you access to all the great features at Traders Laboratory such as interacting with members, access to all forums, downloading attachments, and eligibility to win free giveaways. Registration is fast, simple and absolutely free. Create a FREE Traders Laboratory account here.

Soultrader

Overnight Session: Looking at globex high & low

Recommended Posts

On top of knowing where the previous days high and low is, it is important to watch for the globex high and low as well. These levels can act as key support and resistance point. One strategy is to go long at the globex low and short at the globex high.

 

Any break above the globex high is a long signal and any break below the globex low is a short signal.

 

One important pattern I have been seeing recently is whenever prices move below the value area during the overnight session just to have it pushed back into value. This level below the value low pivot acts as key support during the trading day.

Share this post


Link to post
Share on other sites

Here is a good example of an overnight support. The markets trade right below value low just to find support to push prices back into value.

 

Take a look at the long red bar at the far right edge of the chart. The tall wick shows price rejection below the value low pivot. This will be a key pivot to watch going into the trading session. If the premarket action does hold this pivot, this is a good indication that price will not trade below the value low pivot. Also, instead of shorting the break of the value low pivot, you need to understand the globex low made. This will act as support.

 

A safer setup to trade the break of the value low pivot is to short the break of the overnight low.

Share this post


Link to post
Share on other sites

After prices held the globex low at the value low pivot, we had clear indication that price was going to trade within or above value.

 

In this example, we had prices in a decent uptrend. Overnight session price acceptane vs rejection can act as key information to guide you in your trading day. Notice the 100+ rally from the value low pivot.

082806marketaction.jpg.dd2f40380eed086fbc68d60e8fb5cd3a.jpg

Share this post


Link to post
Share on other sites
What are the overnight session hours that you use to retreive the highs and lows?

 

The YM closes at 5pm eastern and halts to 6pm eastern. So I will take whatever low or high was made from 6pm onwards.

 

I'll usually take a look at the markets around 7:30am - 8:30am eastern and set my charts to a 24 hour chart. This pretty much shows me everything information I need. I will have my charts set to a 24 hour chart until 1-3 minutes before the open at 9:30am eastern. I will then set my charts to a gap chart.

Share this post


Link to post
Share on other sites

What about for markets that do not trade 24hours. Should I place the same level of importance?

 

If the overnight market do not trade above or below the previous days range, what does this indicate?

Share this post


Link to post
Share on other sites
What about for markets that do not trade 24hours. Should I place the same level of importance?

 

If the overnight market do not trade above or below the previous days range, what does this indicate?

 

1. If you trade stocks, premarket action is very important. Watch the overnight low and high carefully. They can act as key support and resistance.

 

2. If the overnight action remains within range there is not much change in market sentiment. This means that the market is in balance.

Share this post


Link to post
Share on other sites

This is the end result chart post for the day.

 

Notice the overnight support and value high pivot cluster became the dead low for the trading day.

 

This is the reason why I watch for overnight and premarket action to determine any key levels. This is always an edge.

083006deadlow.jpg.6b29ecaa94d71811abe2c261ef0694d5.jpg

Share this post


Link to post
Share on other sites
Could you please tell me how the value high/low is calculated?

 

Calculating the actual value area by hand can be very time consuming. I recommend paying for market profile data fees.

 

Listed below is from the CBOT Market Profile data vendor list:

 

http://cbot.com/cbot/pub/page/0,3181,1183,00.html

 

Source: Chicago Board of Trade

 

I will also post a thread on how to calculate the value area hopefully tomorrow. Will need to create it in excel format. I will keep you posted.

Share this post


Link to post
Share on other sites
On top of knowing where the previous days high and low is, it is important to watch for the globex high and low as well. These levels can act as key support and resistance point. One strategy is to go long at the globex low and short at the globex high.

 

Any break above the globex high is a long signal and any break below the globex low is a short signal.

 

One important pattern I have been seeing recently is whenever prices move below the value area during the overnight session just to have it pushed back into value. This level below the value low pivot acts as key support during the trading day.

 

I have always found that fading the overnight lows and highs is generally a decent scalp trade. Even if you're not much of a scalper, you generally want to avoid being short close to the low on the first test because you can get a very healthy bounce from there that shakes you out before you go lower. Obviously, vol being what it is right now it's a harder play to do sometimes.

 

A nice trade setup I found utilized the overnight highs and lows in conjunction with a composite or mash profile. If you open way below 3 or 5 day value, for example, and you test the overnight low and don't attract more activity, this is often a nice place to get long because moves back into value can sometimes carry all the way through it and one of those trades will make your week.

Share this post


Link to post
Share on other sites

I agree with ST and this threads title in the idea the overnight globex high and low "can be" areas of support or resistance. I attached screenshots of 12-23-08 and you can see on both the 5 min (on top) and a 1364Vol where price hits and retraces back after market open. The red vertical line is market open. Haul it!

5aa70ea3e4464_Screencapture10.thumb.png.b246b3c4392de3d847427bdfab18b9ff.png

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.


  • Topics

  • Posts

    • MNST Monster Beverage stock, top of range breakout above 60.45, from Stocks to Watch at https://stockconsultant.com/?MNST
    • there is no avoiding loses to be honest, its just how the market is. you win some and hopefully more, but u do lose some. 
    • Date: 11th July 2025.   Demand For Gold Rises As Trump Announces Tariffs!   Gold prices rose significantly throughout the week as investors took advantage of the 2.50% lower entry level. Investors also return to the safe-haven asset as the US trade policy continues to escalate. As a result, investors are taking a more dovish tone. The ‘risk-off’ appetite is also something which can be seen within the stock market. The NASDAQ on Thursday took a 0.90% dive within only 30 minutes.   Trade Tensions Escalate President Trump has been teasing with new tariffs throughout the week. However, the tariffs were confirmed on Thursday. A 35% tariff on Canadian imports starting August 1st, along with 50% tariffs on copper and goods from Brazil. Some experts are advising that Brazil has been specifically targeted due to its association with the BRICS.   However, the President has not directly associated the tariffs with BRICS yet. According to President Trump, Brazil is targeting US technology companies and carrying out a ‘witch hunt’against former Brazilian President Jair Bolsonaro, a close ally who is currently facing prosecution for allegedly attempting to overturn the 2022 Brazilian election.   Although Brazil is one of the largest and fastest-growing economies in the Americas, it is not the main concern for investors. Investors are more concerned about Tariffs on Canada. The White House said it will impose a 35% tariff on Canadian imports, effective August 1st, raised from the earlier 25% rate. This covers most goods, with exceptions under USMCA and exemptions for Canadian companies producing within the US.   It is also vital for investors to note that Canada is among the US;’s top 3 trading partners. The increase was justified by Trump citing issues like the trade deficit, Canada’s handling of fentanyl trafficking, and perceived unfair trade practices.   The President is also threatening new measures against the EU. These moves caused US and European stock futures to fall nearly 1%, while the Dollar rose and commodity prices saw small gains. However, the main benefactor was Silver and Gold, which are the two best-performing metals of the day.   How Will The Fed Impact Gold? The FOMC indicated that the number of members warming up to the idea of interest rate cuts is increasing. If the Fed takes a dovish tone, the price of Gold may further rise. In the meantime, the President pushing for a 3% rate cut sparked talk of a more dovish Fed nominee next year and raised worries about future inflation.   Meanwhile, jobless claims dropped for the fourth straight week, coming in better than expected and supporting the view that the labour market remains strong after last week’s solid payroll report. Markets still expect two rate cuts this year, but rate futures show most investors see no change at the next Fed meeting. Gold is expected to finish the week mostly flat.       Gold 15-Minute Chart     If the price of Gold increases above $3,337.50, buy signals are likely to materialise again. However, the price is currently retracing, meaning traders are likely to wait for regained momentum before entering further buy trades. According to HSBC, they expect an average price of $3,215 in 2025 (up from $3,015) and $3,125 in 2026, with projections showing a volatile range between $3,100 and $3,600   Key Takeaway Points: Gold Rises on Safe-Haven Demand. Gold gained as investors reacted to rising trade tensions and market volatility. Canada Tariffs Spark Concern. A 35% tariff on Canadian imports drew attention due to Canada’s key trade role. Fed Dovish Shift Supports Gold. Growing expectations of rate cuts and Trump’s push for a 3% cut boosted the gold outlook. Gold Eyes Breakout Above $3,337.5. Price is consolidating; a move above $3,337.50 could trigger new buy signals. Always trade with strict risk management. Your capital is the single most important aspect of your trading business.   Please note that times displayed based on local time zone and are from time of writing this report.   Click HERE to access the full HFM Economic calendar.   Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding of how markets work. Click HERE to register for FREE!   Click HERE to READ more Market news.   Michalis Efthymiou HFMarkets   Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in Leveraged Products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
    • Back in the early 2000s, Netflix mailed DVDs to subscribers.   It wasn’t sexy—but it was smart. No late fees. No driving to Blockbuster.   People subscribed because they were lazy. Investors bought the stock because they realized everyone else is lazy too.   Those who saw the future in that red envelope? They could’ve caught a 10,000%+ move.   Another story…   Back in the mid-2000s, Amazon launched Prime.   It wasn’t flashy—but it was fast.   Free two-day shipping. No minimums. No hassle.   People subscribed because they were impatient. Investors bought the stock because they realized everyone hates waiting.   Those who saw the future in that speedy little yellow button? They could’ve caught another 10,000%+ move.   Finally…   Back in 2011, Bitcoin was trading under $10.   It wasn’t regulated—but it worked.   No bank. No middleman. Just wallet to wallet.   People used it to send money. Investors bought it because they saw the potential.   Those who saw something glimmering in that strange orange coin? They could’ve caught a 100,000%+ move.   The people who made those calls weren’t fortune tellers. They just noticed something simple before others did.   A better way. A quiet shift. A small edge. An asymmetric bet.   The red envelope fixed late fees. The yellow button fixed waiting. The orange coin gave billions a choice.   Of course, these types of gains are rare. And they happen only once in a blue moon. That’s exactly why it’s important to notice when the conditions start to look familiar.   Not after the move. Not once it's on CNBC. But in the quiet build-up— before the surface breaks.   Enter the Blue Button Please read more here: https://altucherconfidential.com/posts/netflix-amazon-bitcoin-blue  Profits from free accurate cryptos signals: https://www.predictmag.com/ 
    • What These Attacks Look Like There are several ways you could get hacked. And the threats compound by the day.   Here’s a quick rundown:   Phishing: Fake emails from your “bank.” Click the link, give your password—game over.   Ransomware: Malware that locks your files and demands crypto. Pay up, or it’s gone.   DDoS: Overwhelm a website with traffic until it crashes. Like 10,000 bots blocking the door. Often used by nations.   Man-in-the-Middle: Hackers intercept your messages on public WiFi and read or change them.   Social Engineering: Hackers pose as IT or drop infected USB drives labeled “Payroll.”   You don’t need to be “important” to be a target.   You just need to be online.   What You Can Do (Without Buying a Bunker) You don’t have to be tech-savvy.   You just need to stop being low-hanging fruit.   Here’s how:   Use a YubiKey (physical passkey device) or Authenticator app – Ditch text message 2FA. SIM swaps are real. Hackers often have people on the inside at telecom companies.   Use a password manager (with Yubikey) – One unique password per account. Stop using your dog’s name.   Update your devices – Those annoying updates patch real security holes. Use them.   Back up your files – If ransomware hits, you don’t want your important documents held hostage.   Avoid public WiFi for sensitive stuff – Or use a VPN.   Think before you click – Emails that feel “urgent” are often fake. Go to the websites manually for confirmation.   Consider Starlink in case the internet goes down – I think it’s time for me to make the leap. Don’t Panic. Prepare. (Then Invest.)   I spent an hour in that basement bar reading about cyberattacks—and watching real-world systems fall apart like dominos.   The internet going down used to be an inconvenience. Now, it’s a warning.   Cyberwar isn’t coming. It’s here.   And the next time your internet goes out, it might not just be your router.   Don’t panic. Prepare.   And maybe keep a backup plan in your back pocket. Like a local basement bar with good bourbon—and working WiFi.   As usual, we’re on the lookout for more opportunities in cybersecurity. Stay tuned.   Author: Chris Campbell (AltucherConfidential) Profits from free accurate cryptos signals: https://www.predictmag.com/   
×
×
  • Create New...

Important Information

By using this site, you agree to our Terms of Use.