That's like saying all price action is the same .. It is not.
Some stocks are more volatile than others ...I could care less what the other million stocks do .... I care about how often this stock covers the same ground ... I bet if u went back and looked at this chart . ... Gap fills would be north of 70 percent .... not because they are gaps .. But because this stock swings a lot ..in part to are dedicated shorts ......Another way of saying that would be it covered the same ground twice .. Swings
In comparison lets say I looked at Chesapeake ... Which fell from 20.00 a share to .30 and is now delisted .... I bet that chart has a lot of gaps that will never be filled ..so taken as a whole i am sure you are right in that the percentages vary. Some stocks aren't as volatile ... Others may have strong or consistent growth ... Whatever the case the numbers vary.
The same can be said for technicals .... wither or not technicals work depends directly on individuals involved .... Same with indicators .... Wither or not a indicator or lets say a moving average is respected depends solely on those involved. While one stock may react when it reaches lets say the 50 moving average another may have little to no reaction..... Along that line Gaps are not technicals .. I feel like some think that I think they are ?
So for those who took it the wrong way this am
Let me explain.
On my chart i have a channel drawn across the bottom and top of the price action using points of contact from previous price action .
So this morning I look and at bottom of that channel at support is a Gap .. I checked level 2 and there are orders at the bottom of said gap from 3 different market makers not to mention its at the half dollar ..... So it was reasonable for me to see the potential of a bounce depending on market direction .... Soooo I mentioned it
Along side my bullish comment of being over sold on the dailey ..
I looked at both sides and threw out what I saw . ..and got some trash mail in return
So Ive decided to call it the goose bumps gap aka the non sense gap ... .
For the record I hope it never fills but im not canceling my order either .... : )
Some stocks are more volatile than others ...I could care less what the other million stocks do .... I care about how often this stock covers the same ground ... I bet if u went back and looked at this chart . ... Gap fills would be north of 70 percent .... not because they are gaps .. But because this stock swings a lot ..in part to are dedicated shorts ......Another way of saying that would be it covered the same ground twice .. Swings
In comparison lets say I looked at Chesapeake ... Which fell from 20.00 a share to .30 and is now delisted .... I bet that chart has a lot of gaps that will never be filled ..so taken as a whole i am sure you are right in that the percentages vary. Some stocks aren't as volatile ... Others may have strong or consistent growth ... Whatever the case the numbers vary.
The same can be said for technicals .... wither or not technicals work depends directly on individuals involved .... Same with indicators .... Wither or not a indicator or lets say a moving average is respected depends solely on those involved. While one stock may react when it reaches lets say the 50 moving average another may have little to no reaction..... Along that line Gaps are not technicals .. I feel like some think that I think they are ?
So for those who took it the wrong way this am
Let me explain.
On my chart i have a channel drawn across the bottom and top of the price action using points of contact from previous price action .
So this morning I look and at bottom of that channel at support is a Gap .. I checked level 2 and there are orders at the bottom of said gap from 3 different market makers not to mention its at the half dollar ..... So it was reasonable for me to see the potential of a bounce depending on market direction .... Soooo I mentioned it
Along side my bullish comment of being over sold on the dailey ..
I looked at both sides and threw out what I saw . ..and got some trash mail in return
So Ive decided to call it the goose bumps gap aka the non sense gap ... .
For the record I hope it never fills but im not canceling my order either .... : )
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