How To Identify ICT NWOG and NDOG For Trading

Summary

In this video, the creator explains the concepts of 'End Work' and 'Endog' in trading, focusing on their importance in futures indices like the S&P 500 and US 30. 'End Work' refers to the New Week Opening Gap that occurs between Friday's market close and Sunday's opening, while 'Endog' pertains to the New Day Opening Gap from 5:00 PM to 6:00 PM New York time. The video showcases how to identify and use these gaps for trading, emphasizing the power of the New Week Opening Gap ('End Work') over the New Day Opening Gap ('Endog'). Key indicators and practical examples are shared to help traders spot these gaps for better market analysis.

Takeaways

• 😀 End Work (Endow) refers to the New Week Opening Gap that forms between Friday’s market close and Sunday’s market open.
• 😀 Endoc is the New Day Opening Gap that occurs between 5:00 p.m. and 6:00 p.m. New York time, highlighting price differences at the market’s close and reopen.
• 😀 End Work gaps are mostly seen in Futures indices like the S&P 500 and US 30, rather than in currency markets.
• 😀 New Week Opening Gaps (End Work) can often create significant support or resistance levels that traders should watch for potential price movements.
• 😀 Endoc (New Day Opening Gap) is typically smaller and happens daily, whereas End Work is less frequent, occurring once a week.
• 😀 The speaker emphasizes that the New Week Opening Gap (End Work) is more powerful than the New Day Opening Gap (Endoc) in terms of trading significance.
• 😀 A gap between Friday’s close and Sunday’s open creates the End Work, and the price often retraces back to test the gap area.
• 😀 The Endoc is identified when there is a price difference between 5:00 p.m. and 6:00 p.m. New York time, and these gaps also serve as important trading levels.
• 😀 The speaker shows how an indicator can help spot these gaps on the chart, making it easier to identify potential support and resistance levels.
• 😀 Both End Work and Endoc gaps are crucial for traders, as they highlight potential entry and exit points based on price action around these levels.

Q & A

What does 'End Work' refer to in trading?

'End Work' stands for the New Week Opening Gap, which occurs mostly in futures indices like the S&P 500 or US 30. It is the gap between the market's close on Friday and its opening on Sunday, resulting in a jump in price either upward or downward.

What is the significance of the 'End Work' gap?

The 'End Work' gap is an important marker because it represents an imbalance in the market. Prices often retest these gaps, with traders using them as key support or resistance levels in their trading strategies.

How can one spot the 'End Work' gap on a chart?

You can spot the 'End Work' gap by looking for the price jump that happens between Friday's close and Sunday's opening. It often appears as a visible gap on the chart, which can be extended to show price retests.

Does the 'End Work' gap happen every week?

No, the 'End Work' gap doesn't happen every week. It occurs occasionally, and traders should look for it when the market opens on Sunday after the weekend.

What is 'Endoc' and how is it different from 'End Work'?

'Endoc' stands for New Day Opening Gap, which occurs between 5:00 p.m. and 6:00 p.m. New York time. It represents the gap between the market's closing price at 5:00 p.m. and its opening at 6:00 p.m., typically observed in shorter time frames compared to 'End Work.'

What are some key trading strategies involving 'End Work' and 'Endoc'?

Traders use the 'End Work' and 'Endoc' gaps to identify potential support and resistance levels. These gaps can indicate areas where price might retest, helping traders decide where to enter or exit trades.

Why is the 'End Work' gap more powerful than 'Endoc'?

The 'End Work' gap is considered more powerful because it involves a longer period of market inactivity (from Friday to Sunday), which can create stronger price imbalances and more significant support or resistance levels when the market reopens.

Can 'End Work' and 'Endoc' be spotted using an indicator?

Yes, there is an indicator that can help traders spot both the 'End Work' and 'Endoc' gaps. The indicator highlights these gaps, making it easier for traders to identify them on the chart.

Is it necessary to track these gaps on all types of markets?

No, these gaps are mostly observed in futures indices like the S&P 500 or US 30. They are less commonly found in the currency market, though there might be some rare instances in certain conditions.

How can traders backtest the effectiveness of 'End Work' and 'Endoc'?

Traders can backtest 'End Work' and 'Endoc' by reviewing historical charts and identifying past occurrences of these gaps. By studying how price reacted to these gaps in the past, traders can assess the potential effectiveness of these patterns in future trades.