Tackle Today: The Market Open Trade
June 15, 2023
«Here’s what to watch for.»
Traders,
Our Day Trading Mastery webinar on June 19th at 8:30 PM EST is fast approaching. Register here. Let’s continue exploring day trading concepts by looking at the market open trade.
The regular trading session begins at 9:30 AM EST and ends at 4:00 PM EST daily. A stock’s opening price is a function of whatever buy and sell orders came in overnight. If there’s a significant imbalance, there could be a jump in price relative to where the stock closed the prior session.
When demand > supply, prices gap up.
When supply > demand, prices gap down.
Volatility can be excessive during the first 30 minutes of the day. Savvy day traders use this to their advantage by looking for trend continuation and reversal patterns. Sometimes watching the premarket action can help you develop a bias going into the open so you know which side of the trend you want to play. Breakouts, retracements, and gap fills are three standard setups to play near the market open.
Video Of The Day: Trade Masters – Hot Trading Picks From Tackle Trading
Every Wednesday at 7 PM EST join us on the Trade Masters Show where two Coaches go head-to-head to see who can find the best #tradingsetup.
Chart of the Day: KWEB
KWEB is breaking out of a multi-month falling wedge pattern.
Today’s line up
Traders Lounge 11 AM EST
Join the coaches in this live lounge, ask questions, discuss ideas or just sit back and listen to veteran traders discuss market conditions.
Cashflow Club 8:30 PM EST
Held every Thursday before Friday’s option contract expirations, this show helps you perfect your favorite cashflow strategies.
Halftime Report 12:30 PM EST
The Halftime Report starts at 12:30 EST and covers what news is driving the market, chart analysis from the movers and shakers of the day, and fun in a way that only the coaches at Tackle Trading can deliver.
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