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Gapfill

Current 1 day chart chess board. Currently in a 1day chart bear pennant that has a breakdown target of 8.4k or so but could see a reversal at the golden pocket in the 9.2-9.5k range instead of reaching the entire breakdown target. We've also already tested the weekly chart 21 ema(not shown here) as confirmed support so there's a chance of a reversal here but seeing as how we have yet to fill the 9.7k CME futures gap(not shown here) I have a feeling we at least will send a bottom wick down to do that. It is unlikely it will stop there however as too many traders will be anticipating a reversal right after the gap fill so I'm guessing it will overshoot the gapfill target and head lower than 9.7k At this current point and time anything is possible but based on the current shape of the descending bear pennant it looks like we should see some form of a breakdown or breakout around september 14th if not earlier. Setting phasers to neutral for now.
COINBASE:BTCUSD
by DrDovetail
1
Wilmar - Half Empty or Half Full?Wilamr gapped down a hefty 10% after a major shareholder announced that it was planning to pare it's stake amounting to about 2.68% of the issued share capital (a large sum of about $500m). It traded as low as 4.31 before rebouding a little to about 4.37 now. There are a confluence of 3 supports between 4.35-4.38 region (a horizontal support, trendline support as well as 50% fib retacement here). Could be worthwhile to test some longs here for an eventual rise to 4.75 (gap fill). Initial Stop Loss @ 4.29. Should we get stopped out, I will relook it as it approaches the 61% fib retracement level @ 4.20. Disclaimer: This is just my own analysis and opinion for discussion and is not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance. Thank you.
SGX:F34Long
by Juliac
4
TSLA: That's what TRAILING STOPS are for.Hello traders and investors! I had to skip our daily studies yesterday, but now I’m back to see what’s going on with Tesla. It seems we have reasons to worry after all, but what should we do next? There are some important things to keep in mind. If you read my previous Tesla analysis, from 2 days ago, you’ll see that today’s movement is not surprising at all (link below). First, Tesla engaged in a short-term bear market, at least in the hourly chart. Yesterday it lost the purple trendline , which was our guide in the short-term and it was the line that separates the bull’s territory from the bear’s territory. Also, it lost the red line $ 437, which was another important point for Tesla. Right now, it just filled the Breakaway Gap in the hourly chart, which works as a support now. This is what an asset does after it loses strength and starts to lose its supports: It will seek for more supports. Simple technical analysis. Now, let’s see the daily chart: If you've followed the trailing stop strategy I’ve been detailing here, you would’ve sold Tesla when it triggered this Dark Cloud Cover pattern and avoided an uncomfortable pullback. The good news is this is just a pullback, as long it keeps above the 21 ema. Speaking of 21 ema, it seems Tesla is going to hit it, as we discussed in my previous analysis. It will offer a support for the price. I set the target at the 21 ema 2 days ago, but I think the purple line at $ 359 is a more relevant support, if we see a sharper pullback. The bias is still bullish on Tesla, and although it gave us a lot of signs to get out of it, it still could trigger another long trade, if we see a good reaction near one of its supports, like the 21 ema or the purple line. But right now, there’s nothing to do on Tesla, and we just need to wait. Other opportunities will come for sure. And if you liked this idea, please, support it! And I invite you to follow me to keep in touch with my analyses!
NASDAQ:TSLA
by Nathan_The_Finance_Hydra
15
Fastly: Mind the Gap in High-Flying Tech StockFastly had one of the sharpest rallies in big tech stocks, ripping about 400 percent between early May and early August. But the price action has turned bearish in the last month. FSLY posted strong quarterly results on August 5, but investors “sold the news.” Management added fuel to the fire by revealing a large dependence on TikTok, the Chinese social-media company that’s become a hot potato between Washington and Beijing. The drop produced a bearish gap that FSLY tested last week but wasn’t able to fill. The resulting lower high is within 3 percent of an earlier peak on July 9. That creates a potential bearish head and shoulders pattern. Finally, FSLY’s lower high last month contrasts with the broader Nasdaq-100 and Technology sector, which both made new highs yesterday. (Lack of relative strength.) All those patterns suggest the tide may be turning against FSLY.
FShort
by TradeStation
1
Backtesting guide: Iterative steps. Gap fills example.1- Notice something, or read about it (patterns, rsi), and just go look. Lazy people will lose their money to those that put the hours in. Some efforts are actually required at some point. No avoiding the grind. No "assisted comfort" instant gratification in real life. 2- Starting backtesting. One has to actually know what works and how it works 3- Stick to it don't deviate or head goes boom Looks good, we are looking at both then * Oil was not as good technically Checking some GBP gaps in 2018. It could depend on the year, type of market, etc. Backtesting a different ticker it's fine have first step is just to gather info. Ok that's enough. You would need to go throught in my opinion at least a good 50 examples, we did 20 here, and then you would start deciding on some possible direction you want to go to (where to enter, set SL, what TGT), then go onto the next step, excel. 4- Set some at least vague rules and put these numbers in excel "With a RR of 1 tgt from open to close(-1)" => x% winrate "Opposite direction entering at close-1 with SL the gap*2 and tgt 2:1 (just making it up here)" => y% wr Is there to start with a profit factor of at least above C (maybe 1.2? your call)? Other stats: how far does it go against/with, then through more analysis "what was the trend", "did it fill half before filling me", etc think outside the box. etc.... 5- Improve/more backtest As you take trades or just keep backtesting you try to tweak it to get more out of it. As they say "do not try to make it too perfect". Overoptimising = cheating = losing. 6- Practice You have to actually participate in the market for real at some point and live through it all. Don't forget to log everything, and review your past operations. 7- Realize you're just accumulating knowledge and you are going to go discretionary anyway and then it's all about your own skill So get good.
Education
by MrRenev
2