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Breakaway-gap

ZOM - impressive price actionZOM broke out of a 22 months resistence @ 0.50 with a Breakaway Gap on 11 Jan (after some stealth accumulation for 2 months prior). Breakqway gaps occurs at the start of a trend and do not get filled (until one fine day when the stock finally turned bearish). The stock has been trending nicely since, with a bull flag consolidation in the past few weeks before another strong move up yesterday. For those who have yet to stake into this stock, it is difficult to wait for a pullback (which may or not may not happen before it goes much higher). For those who do not mind taking calculated risk, consider to dip your toes in from 1.30-1.50, with initial stop several ticks below yesterday's large candle's low @ 1.16. Position size accordingly to cater for this wide initial stop loss. Near term target of 1.75 (some resistence around here) should be pretty achievable and the longer term, I feel that 2.98 is definitely plausible. Protect profits with trailing stops at pivot lows on the way up! Disclaimer: This is just my own analysis and opinion for discussion and is not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance. Thank you. Feel free to give me your thoughts ! :)
AMEX:ZOMLong
by Juliac
1
Breakaway GapWhen the price opens above a significant resistance area it is known as a Breakaway Gap. This is a bullish signal and indicates the start of a strong trend. Although some would argue that gaps must be filled it is important that we identify what type of gap we are looking at. Breakaway Gaps are usually backed by a positive announcement and in this case it is; PUREgraphite Awarded US$5.57M from the U.S. Department of Energy (DOE) for New Technology Development Price is currently sitting at a major Fibonacci level of %61.8. It is possible that we at a major resistance however a move above this level could indicate that we are likely to reach the next target of 4.75 -BreadCharts
ASX:NVXLong
by BreadCharts
1
What is a price gap? How to trade the price gap?What is a price gap? A price gap appears on the price chart as a blank space, and the blank space represents the time when there was no trading activity in that particular price level. 4 Types of Price Gaps 1. A breakaway gap happens when the security traded in a narrow range for some time, and then the security jumps to a different price level. This indicates interest in the security to test a different price level. 2. A common gap happens because of traders daily buying and selling activity. 3. A continuation gap is a measuring gap to determine if the current trend will continue. 4. An exhaustion gap is a gap that happens toward the end of a trending period. This can be a sign of a price reversal is about to happen. How to trade the price gap? Traders should trade in the direction of the breakaway gap and continuation gap. Traders should consider carefully before adding to their current position when they encounter an exhaustion price gap. What are some of the reasons one may fail to trade the price gap? Possibly due to misinterpreting the exhaustion gap as a continuation gap, and possibly misinterpreting the bull or bear trap as a breakout gap. Possibly it was initially a continuation gap or a breakout gap correctly identified, but suddenly the trend changed direction and trapped the traders. Thank you for reading! Greenfield Remember to click "Like" and "Follow!" Disclosure: Chart interpreted and article prepared by Greenfield. A market idea by Greenfield Analysis LLC for educational material only.
NASDAQ:TSLAEducation
by GreenfieldAnalysis
16
AAL Long, demand zone confirmed and Breakaway GapCondition: 1. False breakout stopped most of the positions bought in the demand zone. 1.1 After big down move 1.2 consolidation in Demand 1.3 Break through the Demand 1.4 One bar down, next bar up, back to the demand zone. 1.5 Higher than previous high 2. Breakaway Gap (G1), down trend line break. Earning Date: 7/30/2020. It will not affect this trading plan. Estimate: Demand zone at $9 could be hold. Entry: 9.5 Stop: 9 Target: 12; risk/reward=1:5 This is a trading school homework. I need few months to practice trading plan. If you like it, thank you for your support. Please use SIM/Demo account to try it, until my trading plans get high winning rate.
NASDAQ:AALLong
by PlanTradePlanMM
The Importance of Gaps in Technical AnalysisThree types of gaps: Breakaway, Runaway or Measuring Gap and Exhaustion Gap. Breakaway gap: 1.At a completion of an important price pattern and generally the breaking of a resistance occurs on a breakaway gap They sign the beginning of a significant market move 2.Breaking of a major trendline, in a reversal signal can also see a breakaway gap 3.They occur on heavy volume 4. Heavier are the volume, less likely the gap will be filled 5.The gap could be filled (generally not all the gap) 6. Upside gap they can work as support areas for subsequent market corrections 7. During an uptrend, it is important that prices do not follow below the gap, otherwise it is a sign of weakness If you are interested in Technical Analysis Theory, please subscribe and watch my Lessons studio.youtube.com
NASDAQ:GOOGEducation
by Mauriello
USO Long, option trade with big stop bufferImportant Note: USO long term target is "0". It is only good for short term trading. If it sounds strange, please google the reason. Existing Condition: 1. Double bottom pattern 2. Breakaway Gap(G1), trend line break. Stock Entry between: open and under 2.80 Stop: 2.2 (down to new low) Target1: 4.2; risk/reward=1:2 Target2: 5; risk/reward=1:3 Prediction: Next Breakaway Gap(G2), next trend line break. In option trade, I bought 2021 Jan Call Butterfly C3/6/9 (Delta 0.26), limit 0.47; Sell P2 (Delta -0.21) Limit 0.46; Total simulate long 47 shares stock for free. Stop below 2. According to Today's oil futures price: (Following futures could be found in Tradingview Futures list. In other platform, the symbol might be different.) Jun (CLM2020) from $13 to $18; Jul (CLN2020) from $18 to $23; DEC (CLZ2020) from $28 to $30; I estimate Oil price will go up from the bottom in June . This is a trading school homework. I need 6 months to practice trading plan. If you like it, thank you for your support. Please use SIM/Demo account to try it, until my trading plans get high winning rate.
AMEX:USOLong
by PlanTradePlanMM
SQ Long after trend line break by breakaway GapCondition: 1. Downtrend line was broken by breakaway Gap (G1). Start a new trend. 2. 10/20/2017 Weekly demand zone confirmed 3. G2: runaway Gap shows 40-50% of the trend. 4. Fib 0.618 retracement, 5. trend line break by breakaway Gap (G3). Entry at Gap up open 47 Stop: 45 Target1: 55; risk/reward=1:4 Target2: 61; risk/reward=1:7 Target3: 77. This supply zone matches the 100% of a trend, where G2 is 40% of a trend. This is a trading school homework. I need 6 months to practice trading plan. If you like it, thank you for your support. Please use SIM/Demo account to try it, until my trading plans get high winning rate. In my real trade, I bought Sep C65, limit 2.3; Stop: 45
NYSE:SQLong
by PlanTradePlanMM
USB to Long, V pattern formedExisting Condition: 1. in 60 min, down trendline break by breakaway Gap (G1) 2. Formed V reversal pattern Entry at demand zone: 33 Stop below this zone: 30 Target1: 38; risk/reward=1:1.5 Target2: 46, risk/reward=1:4 This is a trading school homework. I need 6 months to practice trading plan. If you like it, thank you for your support. Please use SIM/Demo account to try it, until my trading plans get high winning rate. In my real trade, I use options. I bought Jun C35 Call, limit 2.4; stop lost about 1.00. Sum of my ideas: 5 active, 7 winner, 1 loser, 0 pending for condition; 4 analysis only, 8 cancelled;
NYSE:USBLong
by PlanTradePlanMM
ABBV to Long, from 67 to 81ABBV to Long, from 67 to 81 Existing Condition: 1. 08/16/2019 Weekly demand zone confirmed 2. in 60 min, down trendline break by breakaway Gap (G1) 3. Re-test the Gap, Gap filled. Entry below 67 Stop: 62.5 Target1: 81; Risk:reward=1:3 Target2: 88; Risk:reward=1:4 If G2 (runway Gap up) breaks the 2nd down trend line. That is a measuring (40-50%) of the trend. That is another entry point. This is a trading school homework. I need 6 months to practice trading plan. If you like it, thank you for your support. Please use SIM/Demo account to try it, until my trading plans get high winning rate. In my real trade, I use options. I bought Jun 80 Call, limit 1.46. If stop: lose about 1.00. Sum of my ideas: 5 active, 4 winner, 1 loser, 0 pending for condition; 4 analysis only, 8 cancelled;
NYSE:ABBVLong
by PlanTradePlanMM
FXI prepare to Long, buy after re-test breakaway GapExisting Condition: demand Zone had been confirmed. G1: breakaway Gap broke previous downtrend. Pending Condition: Re-test breakaway Gap, After Gap fill, it should not go lower. Confirmation entry: If it goes lower after the Gap fill, do not buy. Buy Above 34.5 and below 34.85 Stop: 34 Target: 37.5 Risk/reward=1:3 Advanced Option Plan: YANG (Direxion Daily China Bear 3x Shares ETF NYSEARCA: YANG) If FXi will go up 8%, YANG will go down 24%; Buy YANG Put in long term. The problem is this 3x kind ETF options are very expensive, you must have the experiences to trade and lock profit at the right time. They are not good to be traded most of the time. Currently, Some brokers do not allow open trade this kind 3x options, they only allow close trade. This is a trading school homework. I need 6 months to practice trading plan. If you like it, thank you for your support. Please use SIM/Demo account to try it, until my trading plans get high winning rate. In real trade, I use options. Using Option allows me to set my stop behind next fresh demand/supply zone, to avoid being stopped at the same price as other stock traders. Sum of my ideas: 1 winner, 1 loser, 1 active, 7 cancelled, 3 pending for condition, 1 analysis only.
AMEX:FXILong
by PlanTradePlanMM