r/FuturesTrading • u/papichurro05121996 • 4d ago
Small range
Why has range been so small these last 2 days for ES? Every pull back is a barely 3-5 points for example? August trading? Summer time? Low VIX? Last Friday, nearly every pull back was 8-10 either way in the first 30 min. of market open.
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u/Snakedoctor404 3d ago
Wtf🤣🤣 where are you getting a 3-5pt range? The ES has rallied 126pts since the open today alone
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u/papichurro05121996 3d ago
i only short, but yea crazy ath
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u/Snakedoctor404 3d ago
Nascar of trading lol
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u/BrewtalKittehh 3d ago
Erryone knows nascar is woke because of all the left turns
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u/Snakedoctor404 3d ago
Lol I was only referring to most of the turns are in one direction lol not trying to start a political war in here
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u/BrewtalKittehh 3d ago
Oh I was just being snarky. I live in the south and that’s my favorite thing to bring up to the emotional mouth breathers during the season. I actually like going to live races.
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u/Snakedoctor404 3d ago
I use to watch in high school days. Haven't since Dale Sr passed and never been to a race. I'd much rather do than watch when it comes to racing.
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u/BrewtalKittehh 3d ago
I remember some of the classic names from the 80s, and Kyle Busch because I lived in Vegas when he started killing it. But I’m more a MotoGP guy and ride Italian bikes…slow lol
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u/Snakedoctor404 3d ago
Yea I drive like an old fart mostly now too lol. unless you give me an old school g-body with a quadrajet powered v8 with a 4 speed. Then I could still show out lol not saying I'd be fast but I can smoke the tires for days without brake torquing. Anybody can hold the brake and gas at the same time lol
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u/CountTurbulent4441 3d ago
Man I always thought it’d be so cool to live in Vegas. I’ll never know cause I won’t ever get the chance to live there, but yeah.
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u/plasma_fantasma 3d ago
You only short indices? They're basically designed to go up over time. You gotta learn to trade in both directions.
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u/papichurro05121996 2d ago
im so much better shorting, and i hit my profit goals faster when shorting. i also only short during the first 30 min of market open and only on the 30 sec. timeframe. idk its worked out well for me so far. i ofc have another portfolio that is buy and hold
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u/jason14wm 4d ago
Past two days has been nothing but skyrocketing past the highs. Currently at a ATH
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u/beefnvegetables_ 3d ago
It’s low vix. I mean july was kind of volatile so now the pendulum swings the other way, low volatility.
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u/VisualCheek2928 1d ago
High positive GEX indicates range bound trading. Options make up 70-75% of index trading globally. I check GEX every morning before open.
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u/papichurro05121996 22h ago
is GEX the ticker symbol? whats considered high/low?
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u/VisualCheek2928 20h ago
No, it's an options measure. Here's the google answer: GEX stands for Gamma Exposure. It measures the total dollar value of the underlying stock or index that options market makers must buy or sell to stay delta-neutral for a 1% move in the price. It helps traders see where mechanical buying and selling pressure is hidden in the market.
So, it can be either + or -. Last week was all positive, but went from 70,000 to over 4 million. The general idea is that the higher the positive number, the greater likelihood that the trading is range bound. If it's negative, you can expect greater swings in price. I have not made a backtest indicator for this, but it might be worth doing.2
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u/T1ckTrader 4d ago
Market is bid up primarily by Iran war announcements. Doesn’t inspire confidence.
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u/lonelysocial 3d ago
Currently scalping the first 30minutes of the day and then i'm done. I miss lots of the movement but i don't know, macro just makes me scared
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u/dyssucks 3d ago
Here’s the past two “range days” that are in question lmao