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1.75%

8,092.3 s&p/asx 200

OK thanks. The automation would help, gotta be quick to get that...

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Harold801

217 Posts.

8

10/08/18

14:54

Post #: 34861260
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Originally posted by Owenb79 ↑

I depends, not all spike are into the prev day high. If they are and enough room to the gap should fill 99% of the time. If pre-market gets up there you can wait for cash to open and see if any stops go off. If you get a bar like yesterdays 11:55 5min bar break of the high then most likely going higher. But I am happy to let a 5min bar close above the high and see if it breaks first by 3-4 pips before I make a decision. A 5min bar might be 6-12 pips so would expect to see 20 pips in the red before it fails and have to close. If it does fail then can go to R3 which will fade 90% of the time so can get some money back.

I do have an automated strategy that trades the spikes but uses Martingale to get out. I think if you keep increasing volume until the tp is 10pips below the current price you will at some stage get a 10 pip retrace and get out.

You could probably have a look at the math yourself and say 1 lot down add 2 lots at 10 pip loss etc. See what happens if it grind 100 points with no retrace.

Usually if the Asian session fails then EUR markets might setup with a trade because the XJO is lifted or sunk by all boats rising or falling.

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OK thanks. The automation would help, gotta be quick to get that gap filler when market opens.

XJO Value at posting: 6,288.8
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