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I'm doing my first steps on the 6E futures market
and I wanted to ask some basic questions about it if possible hoping for some good will out there
1. when does 6e begin and when does it end - what are the RTH. when is the close of the trading day? when is the open?
2. which are the most volatile times, what are the best time to trade in your opinion?
3. does it respect gap close like the ES does?
4. what are in general the s/r levels? yesterday close/high/low?? - value area low/high or poc maybe?? any other s/r lines?
5. what are the announcements (numbers) that move this market - that I should be aware of? are there certain time for them - where do I look for them?
6. any specific turning times - like 11:30 am in the ES when lunch break starts and so on?
7. any other tips or thoughts that you think will help??
I thank you all very much in advance
El
Can you help answer these questions from other members on NexusFi?
Trading Hours GLOBEX (ETH) Sundays: 5:00 p.m. – 4:00 p.m. Central Time (CT) next day. Monday – Friday: 5:00 p.m. – 4:00 p.m. CT the next day, except on Friday - closes at 4:00 p.m. and reopens Sunday at 5:00 p.m. CT. OPEN OUTCRY (RTH) 7:20 a.m.-2:00 p.m.
RTH is less important for FOREX instruments compared to index futures.
Each instrument has its specific times, when it can be traded, and also has its times, when trading does not pay off. The question is. how to determine the optimal trading times?
The main criterion is volatility. If volatility …
3. No, see chart below.
4. Round numbers, highs and lows of prior days, fibonacci levels
You can certainly set up a market profile for the entire trading day and/ or the US session. VWAP and market profile are always relevant, if properly used, as they help you to identify the trading day and overbought or oversold levels.
Thanks @Fat Tails for the insight in the best trading times.
Just out of curiosity: you made these findings here public in 2010. Do you think these mentioned times during a
trading day / weekday are still valid for Forex, ES etc.?
If so - there are some basic trading patterns to put fundamental over a longer time horizon.
Here is an updated version that incorporated both of your requests.
Changes:
- Added session start and end instead of just DATE
- ALL times are now in long format so that you can do arithmetic with them in excel. For example, …
7. Great tool great advice
Also look for composite profile LVN's for multi-day balance zones(Cyan profiles). The euro likes to rotate around these levels(usually 20 ticks or so). In this chart I haven't drawn new levels (LVN SR levels) for a few weeks because they keep being respected. We are currently in a nice balance zone dating back to 9/18.
Fat tail - or anybody else
I trade the ES watching GOM MP volume and analyzing the trading day off this chart. the time setting is from open to close that is 9:30 - 16:15 EST.
what would be the equivalent time setting on the 6e???
thank a lot
Eli
This indicator provides a quick visual of key volume profile metrics using a table at the top middle of the screen. It is useful for comparing the relative strength and weakness of different instruments using profile concepts.