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Hey, are these chapters on Trading Different Times of the Day applicable to all markets?
Emini, FTSE, DAX, Forex, Bitcoin, Commodities?
Thanks
Noah
Indices yes, Forex depends because being a 24h market it's hard to identify a specific open and close and there might be a different liquidity for each of the 3 session: Asian , European and American. Same for commodities. I don't trade Bitcoins so I'm not able to say.
I trade few non American indices and all the BPA concepts, including different times of the day , apply very well
Thanks Fred, I'm in the UK so I'm likely to be trading the FTSE futures contract as it's in my Timezone, glad all the concepts apply here as well!
And e.g. in the EU session of Forex markets, do they sub-divide into the same Times of the Day concepts (ie, the Open and Close for Forex markets in the European session)
Also there are news that affect specific commodities. For example, oil futures (CL) has it's own special news releases, rollover dates etc. that affect them more than ES. But if you mean behavior as in price action, then yes, all markets follow the same price action concepts. However, the amount of "stretchiness" and timeframes don't always correlate. An average BO in one market can go much farther than in another. For example, NQ often has moves that go much farther than ES BOs. Like rubberbands of different stretchiness. Also timeframes will "feel" different. A Forex 5M chart might feel a lot more jumpy with a lot more false BOs than an ES 5M chart. So a trader used to expect certain patterns of certain magnitude in one market will need to adjust their expectations when switching to a different market. However, BPA will always be BPA. Just how far and how frequently certain setups happen will be different.
Regarding times of day, as long as it's an index that tracks an underlying stock market that has specific opens and closes then it's going to be similar to the ES. There will be patterns for the open of day and EOD trading setups.
Hope this helps,
CH
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Cool, very interesting insights. I guess that's why a lot of traders tend to stick to one market, as they've gotten used to its behaviour over time!
So if I'm interested in the FTSE 100 Futures contract on the ICE exchange... and then I add the Volume indicator. What are the Open and Close for that contract on that exchange?
Price moves actively between 7am and 9pm (UK time), but looking at Volume and there are spikes at 8am and at 4:30pm. Perhaps this is related to the trading hours of the underlying?
It seems like trading hours for the Futures contract are 7am - 4:30pm perhaps, am I right? Or wrong?
I'm trying to get this right so I know when exactly the Open and the Close are...and also I want to get my Bar Counting to start / end at the correct times.
This is yesterday's trading...
Thanks!
The FTSE 100, or Footsie, is open Monday through Friday from 8 AM to 4:30 PM UK time (GMT), which is in line with the London Stock Exchange (LSE) opening and closing times.
And just to confirm, the Open and Close for the Emini although traded on the CME would follow the trading hours of the underlying's stocks traded on the NYSE: 9:30am - 4pm ET?
Thanks a lot
Those are the most volatile times yes. Generally trading after 4pm ET isn't great unless there's some BTC/STC happening and Al does use 81 bars that stretch until 4:15pm ET... but that may have to do with Settlement price which is a futures concept ( https://www.cmegroup.com/market-regulation/rule-filings/2018/01/18-008_APPAF.pdf) which is used by institutions for their HTF algos as the official end of day price (I've coded algos for hedge funds so can speak to them using the settlement price).