QUICK AND EASY WAY TO MAKE A CHART (GAPS) - PLTR

IF your an advanced trader and good at charting, you likely won't find this information useful. In the future, I'll have more educational posts that go in depth, but this one is for the newbies.

STEP 1 - Find your gaps (circled in blue) ONLY MARK GAPS THAT HAVE YET TO CLOSE
STEP 2 - MARK your GAPS with a Horizontal Line (alt + h)
STEP 3 - DUPLICATE your Horizontal lines (CTRL + CLICK each line while holding ctrl to multi select lines, CTRL + SHIFT + CLICK AND DRAG to duplicate)
STEP 4 - These are now your long term trading zones (COLOR Lines accordingly, TIP - Try not to pick colors that blend together) red and green do not mean buy/sell, they mean top of the gap, and bottom of the gap, 4.22% or so... It doesn't need to be exact.
STEP 5 - Line thickness (IF multiple lines stack up, you can create a thick line to simplify chart. KEEP IT SIMPLE, REMEMBER, this is not to be exact, this is to create zones to prepare you for future movements based on past gaps)

Why is this useful? Well, if you know a price gap is statistically likely to close, then you can be pretty certain that at some point in the future, that gap will close, meaning price will return to @ or above the price gap.
With this in mind, you can plan ahead and start to realize when your emotions are getting the best of you.
This is also great because you can do this on any time frame with candles.

Why ISNT this useful? Well, this gives you no indication of timing. Past results don't guarantee future results. AND this gives you no indication of current price action. In other words, a GAP could form and close 2 years later, and the entire time before it closes, price keeps going lower and lower.

Good luck, and remember, this is just a quick and easy way for newer users to identify potential price targets, while limiting emotion in decision making.

Comment:

lol you're**

Comment:

Notice how the big gap before the chart was created has now nearly closed in price. A dip just under that gap to around 14.5 or 3.9 would allow for some stability and another move to the upside.

Comment:

Taking a look again now that more time has passed. Notice we have a formation of a new gap. We had a closure of one, and it's nearly about to close another at $26. But on the flip side, we created another big gap to the bottom side without fully closing the previous gap, and there are more gaps on the downside.

See how the power of gaps can help but also hurt. As I mentioned before, gaps are great for saying "there is a good chance my price returns to this level" but it is not great for saying "there are a bunch of gaps down so it should go down soon"

Comment:

note those red lines (horizontal) and where the wicks hit.