Open Price on ES U7
How do you get the open price on the ES U7 on Aug 31 at 1461.50?
What am I doing wrong, I get 1476.25?
Thanks in advance
What am I doing wrong, I get 1476.25?
Thanks in advance
Are you looking at the RTH open or the all session's open?
The Daily Notes use the all sessions prices so the open price should reflect the price at about 16:30 EST the previous day.
So, if Daily Notes uses the all sessions prices from the previous day close, 16:30est
Hence, that's why we get the daily average for next trading day on the ES U7 of 25.20?
In other words, the Daily Notes averages are based on all sessions prices?
Duh, just trying to sort it out so as to work out my daily trading plan.
Thank you for taking the time to reply.
Hence, that's why we get the daily average for next trading day on the ES U7 of 25.20?
In other words, the Daily Notes averages are based on all sessions prices?
Duh, just trying to sort it out so as to work out my daily trading plan.
Thank you for taking the time to reply.
The average that you're talking about is the 5 day average range right?
If so, then yes, it uses all sessions prices to calculate that range.
You're welcome.
If so, then yes, it uses all sessions prices to calculate that range.
You're welcome.
When you say the range is a certain number, regardless of what day average range, what you are referring to is from the open to the top and bottom and not divided by half?
In other words, if price should open at, lets say, 1450 and the range is 20 for any given number of days, then the top of the max range would be at 1470?
if so, then I did something right when I sold 1483.25 on Friday per your fib ratios, twice !
Have a great weekend and see at the bell on Tuesday
In other words, if price should open at, lets say, 1450 and the range is 20 for any given number of days, then the top of the max range would be at 1470?
if so, then I did something right when I sold 1483.25 on Friday per your fib ratios, twice !
Have a great weekend and see at the bell on Tuesday
You could look at it like that although I have never approached it in that manner. Given that the you are not expecting the market to exceed one of the average ranges and the market establishes a low (or high) at the opening price then it is not unreasonable to assume that there will be natural resistance at the open + range (or -range if it was a high at open).
The average ranges do not taken into account the opening prices. The average ranges are calculated by using the highs and lows of each day.
The average ranges do not taken into account the opening prices. The average ranges are calculated by using the highs and lows of each day.
Good trading on Friday!
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