Author Topic: Opening Range  (Read 1327 times)

Offline Piper

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Opening Range
« on: August 26, 2015, 12:39:07 AM »
What me and some other Futures traders call the Globex is the overnight LO and HI of that session.
Times are from 6pm New York time to 9:30am New York time. I"ve got a nice little Ninja add on that tracks the HI and LO automatically. If you email platformsupport@ninjatrader.com and ask for ...I think it's called the Opening Range indicator.
Just a simple tracker that draws the HI and LO of whatever time you pgrm it for.
Anways, draw a line on the LO and one on the HI of the overnight session with the times I listed, and see how much price bounces off those lines, how it does it, etc.
Neato stuff !
Piper

Offline THE GUY

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Re: Opening Range
« Reply #1 on: August 26, 2015, 12:45:26 AM »
Thanks Piper...so that's all you are using is those levels to trade off of?...first time it hits, expect a bounce? that kinda thing?

Offline Piper

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Re: Opening Range
« Reply #2 on: August 26, 2015, 12:42:12 PM »
mmm...no. lol
I like to let it VIOLATE the line by 3pts on the ES and 30 ticks on the YM and then come back to it pretty fast, it'l bounce. Not 100%, but then what is?
Got a little real $$ yesterday on the YM using this, and the ES checks out in the WOW department when it comes to bouncing off the levels I've talked about.
yea, it might bounce the first try, but I don't trust it to do that first time around cuz I've seen it just shoot on thru it either way, up or down, and never look back. Granted that's not the norm, but thrice burned thrice learned.
But the Violation, THEN a retrace is good.

Offline Piper

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Re: Opening Range
« Reply #3 on: August 26, 2015, 01:40:00 PM »
And one more.

Opening Range times are from 9:25 to 9:55 AM New York time. Just draw a line on the HI and LO between that 30 minute period, go back in
time and see how price acts around those levels.
I find it amazing.
Nope, not 100%, but like the other levels, let it shoot thru it by 3 points (30 ticks on the YM) then come back to it for a bounce.

Offline THE GUY

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Re: Opening Range
« Reply #4 on: August 26, 2015, 02:09:34 PM »
Here is a pic of a trade I took today Piper...thought ya might like it as it is similar to the opening range play...in that it uses the VWAP as the line in the sand this time...wait for the break...retest...then go.
VWAP is stock on the TOS platform and demo lasts 60 days I believe.
« Last Edit: August 26, 2015, 02:17:02 PM by THE GUY »

Offline Piper

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Re: Opening Range
« Reply #5 on: August 26, 2015, 05:45:48 PM »
VERY important note: For the Globex range time---
The Russell (TF) has a different start time of 8pm New York time, so that'd be the HI's and LO's from 8pm New York time until 9:30am New York time.
This doesn't affect the Opening Range time settings, just the Globex times.