There are many bull gaps below, and the rally contained strong buying pressure. Furthermore, the sell off has not been all that strong. Last week was one of the strongest bear bars, and created a gap around 14. Since there are no previous open bear gaps, this one will likely be filled as well, and may act as an exhaustion gap. The bears need to keep the gap open and create strong follow through selling to increase their probability to 50% for a test of the bull breakout.
To learn more about how to determine the directional probability and how to structure a trade based on this with a positive traders equation, please see below.
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