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Any other day I would have faded the extreme gap close near...

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Owenb79

3,232 Posts.

188

22/08/18

17:24

Post #: 35102450
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Originally posted by Owenb79 ↑

Yesterdays plan was to trade the FTSE and fade the closing gap. Worked a treat. Hit in the first 10mins of trade and dropped like a stone for a mega profit all the way back to the prev day low.

Cant see anything on the DAX.

The ftse is extreme gap down and below cbos 7548 today. It is divi day and only small but they are still bullish trading sessions. I generally do not like to sell on divi day and my usual trade would be take a break down of the 5mins of trade at the open. It looks really negative and heading to S3 which will be a good buy for 10 points. I imagine if cash opens and hits some stops will get there, 7506. Otherwise it might pop up close the extreme gap and then drift in no mans land all afternoon. The size of the divi is far too small for a trade at the close. Need at least 10 points to make risk reward worth it.

In the first 10-15mins of trade.

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Any other day I would have faded the extreme gap close near 7556. Buying for gap close with all the bad news getting around was far too risky for me but in hindsight a better trade.

Value at posting: 12,384
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