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Soultrader

Gaps Acts As Pivots

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Gap fills can act pivots. It's always a good level to exit a portion of your position. In this chart example, the gap fill acted as a pivot and price declined for 20-25 points.

 

Not all gap fills will act this way but the probability is 60%+. (trading buddy stats... not mine)

 

Whenever I fade the opening looking for a gap fill, I like to scale out at half a gap fill and the actual gap fill.

101306gappivots.jpg.dbe26e43ef0caec606c5dd43e9a138e7.jpg

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