Chart says all; simple idea. Most often after one of these wedges breaks up it will fall back to retest the upper TL before it really takes off.
Would give inverted H&S and a higher low; could be the start of an impulsive move higher, to give a double top. Small gap is a weak draw higher.
As always, just a nother crackpot idea; FGS do not trade off this, trade at your own risk if you do! GLTA!!
Would give inverted H&S and a higher low; could be the start of an impulsive move higher, to give a double top. Small gap is a weak draw higher.
As always, just a nother crackpot idea; FGS do not trade off this, trade at your own risk if you do! GLTA!!
Note
Expect risk-off before holiday weekend IMONote
Short-covering, fierce EODNote
Shorted Am gap on 07/01 and flipped for easy gain, offset drawdown from getting crushed EOD 6/30. At 3120 it's pushing on underside of rising TL' a backtest IMO. Some ERs coming now surprise from FedEx, best since 1986, wow!
MOMO is fierce again, look how they bought FB back up near ATH and QQQ trading near/at ATH; manic!
Note
Press the play button to see how the damned thing rallied back to TL; backtesting breakdown. Rejection here will be decisive sell signal!
Trade closed: stop reached
Yeah I stop lossed this haven't been so wrong on it since the 2018 Christmas Crash, LOL. I did play Fade the Gap well enough to recover my overnight loss but still have a handsome drawdown from Tuesday 30 June.Taking a break from the madness, enjoy your Fourth!
Note
Successfully played Fade the Gap but it wasn't much of a Fade, LOL; moar bulling Tues IMOSo many Gaps to fill again!!
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.