Stock gaps ALL The time. Therefore the gap on the daily / hour means a bit less, HOWEVER, it is trapping folks. Mentioned earlier this morning, that I would consider it later in the afternoon. A lot of volume in the early morning but I love the candles here on the 15, along with the R:R.
A symmetrical triangle pattern with increasing demand volume on down wave culminating in today's AV (Accumulation Volume) VSA bar, down bar with mid to up close on high volume. Further strengthened by the support found on triangle trendline. This is an aggressive entry. A more conservative entry would be to wait for further signs of strength and a NS (No supply)...
This week, price has finished is retracement towards the red downsloping U-MLH and initiated an upward move towards the black ML line. Price target is 17.41.
This is a long term trade that will last 5-6 months with move completing in May - Jun 2015.
