My friend Blott, I am attaching a chart of the present behavior of the bund after a gap at the open this morning. Since a couple of months I am gravitating towards Market profile and Tape reading as my main tools.
As you can see, have you gone short right then you'd have had some trouble coming out profitable. But had you waited for it to revisit some previous zones, you could have gotten some clues as to which direction to take. I've come to the conclusion that as with all decision aids in trading, there is no sure fire rule, TIMING IN CONTEXT IS ALWAYS KING.
Actually, there is something that dictates its law even in the face of a gap and that is the previous level: open, close, value areas, Poc 's of past days/weeks. I have marked some for you to see . I am sure you can have similar situations on your own charts.
As for statistics, make sure you have at least 20 occurrences before drawing a conclusion.
As for an EA, I know nothing about them and will continue to try without. The best EA you can dream of is between pour 2 eyes. It only requests you to think in probabilities, provided you have an edge.
Best
As you can see, have you gone short right then you'd have had some trouble coming out profitable. But had you waited for it to revisit some previous zones, you could have gotten some clues as to which direction to take. I've come to the conclusion that as with all decision aids in trading, there is no sure fire rule, TIMING IN CONTEXT IS ALWAYS KING.
Actually, there is something that dictates its law even in the face of a gap and that is the previous level: open, close, value areas, Poc 's of past days/weeks. I have marked some for you to see . I am sure you can have similar situations on your own charts.
As for statistics, make sure you have at least 20 occurrences before drawing a conclusion.
As for an EA, I know nothing about them and will continue to try without. The best EA you can dream of is between pour 2 eyes. It only requests you to think in probabilities, provided you have an edge.
Best
Patience is magic