Watching the open serves two purposes: I watch the open to avoid a fading market and to avoid screwing up my risk/reward (which is already pretty lopsided). This is the only way I know how to stay out of a market that isn't "behaving", but is there a better way?
I used to get gapped on the odd trade, maybe one or two out of ten. But now it seems it's become a 50/50 crap shoot. The overnight ranges are getting to be so large that you can expect a gap in almost all the markets - from currencies to grains. If I were just trading for myself I'd watch the night session open and place my trade then, but since I'm offering trade suggestions to you, that's not really an option.
This has become quite a puzzle to solve. As if trading weren't full of enough challenges already. ;-)
I'm open to, and would greatly appreciate, suggestions/comments.
Erich