Here’s Why You Should Pay Attention To Gap Zones
We see so often that
stocks and indices find their support levels at the lower boundary of gap zones.
It was what YM (Mini-Dow) did this morning.
11:05:41 (From TradersWire)
|
Action |
Symbol |
Order Type |
Setup |
Stop |
Current Price |
|
Buy |
YM |
Market |
10599 |
10612 |
As you can see below, after failing
to take out 10640, YM began to approach the lower boundary of a gap zone. Of
course, there was no guarantee that the boundary would hold. But, after
confirming a breakout above a hammer, we decided to buy YM at the market.
Notice, at the same time, Advance/Decline was starting to bounce, too.
11:38:02
Follow up on YM (Pt.5)
It hit our raised stop. We locked in 38 points.
Have a nice afternoon session!
Feel free to mail me your questions.
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