INTC had a gap recently. Now it's at a support. This could be a bracket trade. Due to type of gap, I'm learning for the .
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A bracket, like the one I have drawn. Meaning, the stop on the bearish trade set up, could just as easily become the trigger for the bullish trade, and the current trigger for the bearish trade could become the stop for the bullish trade. A totally neutral set up. Could go either way. Does this make sense? : )
Thank you! It's SIMILAR to trading within a channel, yes. You get the concept. :) However, this set up is too small to be called a "channel" technically. A channel is usually months in size and 10% of the stocks value. But, I totally know what you mean. So, if INTC closes below 29.11, I will be more bearish than bullish. Could short the stock OR buy put options.