CryptoCoinSolutions
Long

The Tale of Two Gaps

BTCE:LTCUSD   Litecoin / Dollar
144 2 0
If you do not have one, then don't think for a second Ron will give you one, his spare Tin Foil hat is already on loan to me, and I ain't givin' it up.

The first GAP noted is an "exhaustion gap", a gap up to a top ... the issue pulls back, and retraces under the gap and rallies through, it pulls back a second time and reconfirms the rally through and we know what comes after. So this first gap is "filled", and it is re-filled, with the two rallies that pass through it on the way up. So there were three rallies through this point, the end or exhaustion of the first, a retrace and fill rally, and a re-confirmation of the filling of the gap, the third rally through the gap and on upward.

The second gap appears to be a "breakaway gap", please refer to @ronfkingswanson charts, to see his documentation of the channel we are bouncing around in, as we are both long at this point. This second gap has a root which is nearly precisely in the bottom of the trend channel Ron is tracking and documenting, so we don't bounce up off that channel bottom, we blast off of it with a breakaway gap up, which causes a rally, and that rally retraces as it heads for the gap, ostensibly, to retrace below it, and rally up through it to fill that gap. But the trading on the 1M absolutely refuses to break the top of the gap, it acts as great resistance, and this is strange. But not so strange when we look at the trend line drawn from the bottom of the first gap, to the bottom of the second gap, it's the same trend line that Ron is working with, and that we can all clearly see here. Is this a new mean that describes the recent reversal off of the $9.119 bottom? Are we headed for another segment of the S-curve so soon? And this bottom just happens to be very close to the bottom of that first gap. Your thoughts appreciated.

A disclaimer here, I, as an information technology professional, understand that there could be an API call interruption that caused TV to not get the data from btc-e, thus these gaps. And we sort of understand that this is a global, instant 24-7 trading market, the first of it's kind in the history of mankind ... but we see trading data on the other time periods during these "gaps", the gaps are visible on the 30 and the 60, so what's up with that?

And there are two gaps, that draw this trend line, that we are working with, that we are within. And both gaps were FIFTY CENTS. Too many coincidences here to toss them aside, but is there anything truly relevant here for profit, or is this just anomaly, or worse, irrational. No, you may NOT have my tinfoil hat, I will auction that later for dogecoin. Happy trading.
jscorp1618
2 years ago
You just wasted a lot of time on this. You do realize that if this were truly a "gap up" that you would see it on every time frame, right? This is clearly just a bug on TradingView. That is all.
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CryptoCoinSolutions jscorp1618
2 years ago
I disclaimed that it might be an API glitch, it's in the notes. But there are too many coincidences with the trendline drawn between the two gaps, so precisely matching the current reversal trend, and the first gap being so close to the last bottom. The EASY way out, is it is an API glitch, I don't like easy, not in my vocabulary.
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