As we all know, gaps on CME exchange are closed in 93% of cases, and recently these statistics are only more often confirmed. Usually, gaps that weren't closed, are not significant, they were NOT formed on weekends. However, we can see that during this weekend there was formed an important gap, which has to be covered at least with a wick.
Yesterday we posted about market priority changing - from bearish to bullish. Now the priority remains the same, but so far the resistance at $8350 remains untouched, which can lead us to $7100 support retest. From that level it will be possible to look for reversal patterns, such as double or triple bottom or inversed H&S and fill the bags. After the situation develops we'll give you an update.
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I have been trading on GAPs for almost 5 months and got more than 90% accuracy. In my opinion, this is one of the most accurate instrument for traders now
BillCharison
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@Robert_Mercer, agree with you. However, it seems like one time it will play against us.
BlockchainYahoo
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dump is guaranteed
kardia
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@BlockchainYahoo, the only thing guaranteed in this market is price will either go up or down.
noam_chom
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no gap fill yet. probably going to happen later this month. otherwise never
ridethepig
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Nice chart, good use of gaps... I am here tracking a larger correction towards 5200.. it looks cooked and ready to serve
kardia
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@ridethepig, I am so sick of chart spamming! Please stop doing this. It is annoying and disrespectful.
Andrewmycomp
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Lol, one time they will make a HUGE gap, everyone open a position and get rekt. Just how it usually works.
BillCharison
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@Andrewmycomp, True, just wrote about this in the previous comment. However, there are no tools that have 100% accuracy :)