Does a Gap Down always mean a red candle day?

11/12/2020 08:45 AM - By Matt Ratliff
Yesterday closed at a 52 week high in some of the indices, here are some stats based on that close.

Day - Thursday

Opening Gap Direction - Down

Market Status - New 52 Week High 

Instrument - ES, NQ, RTY, YM

Trading SetUp - Long

Market Trend - Bull

Trade Type - Intraday Entry

Entry - 9:30 am ET (Market Open)

Exit - 4:15 pm ET (Market Close)



Note:  Most tests/studies are done going long using Future Indices.  This is done for several reasons; so you can easily compare different studies/tests, and because of the high correlation of these Indices to other instruments.  Make your comments and ask your questions below. 


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Matt Ratliff