traderlife1520887472

Frank, Thanks for your missive on things to look for on the open. I appreciate the learning process and the wisdom you provided. I'm not quite getting what you mentioned as IB... I thought it was the range of first hour of trade.. if small - easily turned over and usually moves out of small IBs go for a bit. wider IBs signal rotational tendencies. I guess I'm asking for a clarification of how you see IB and if my 1 hr definition range is too simplistic... I think maybe you're saying that first 30 mins direction and any range past that direction is the IB... then price inevitably will overlap back into the IB... and from there, one can gauge moves that again move outside of the IB based on volume and rate and size of aggressive orders and choose whether to go with that flow... As for the second concept you had in mind, please go on... Thanks, Ben

Frank, If I understand what you said correctly, most of the opening directional moves that happen with conviction, have a higher probability of being a solid move or trend if they move outside of the range of the previous day. How do you personally go about positioning yourself for such a move? Looking at ZB, it opened right at the previous day's close 118060, but beneath the yesterday's high of 118110, and proceeded to do what you described for a trend day. Mkt paused around 118110 before taking off again. what I'm asking is where you conceivably would have made your move as the market was unfolding. You can use ES examples as well if you like - I trade ZB and ES Best, Ben

Watching the first 30 min bar would be similar to keeping in mind the Initial Balance in relation to previous day's range, etc? I have a feeling you got some good insights to keep in mind, so please do go on.