Visit our COVID-19 site for latest information regarding how we can support you. For up to date information about the pandemic visit www.sacoronavirus.co.za.

bs-regular
bs-extra-light
bs-light
bs-light
bs-cond-light-webfont
bs-medium
bs-bold
bs-black

Community


Share knowledge. Ask questions. Find answers.

Online Share Trading

Engage and learn about markets and trading online

Need a cols shower after that....

Reply
Not applicable
I just love gap closes...
0 Kudos
18 REPLIES 18
timba
Frequent Contributor
i am assuming you are reffering to the 14/07 gap...but how do you know that we might close that gap and not yesterdays gap????
0 Kudos
Not applicable
I didnt....thats why you only play the gap if the open level is breken convincing...if that doesn't happen theres another game in town...gaps are like magnets...you had two days of gaps yesterdays and the day before...tow magnets equals double the strength.....we will todays gap...dunno when but when we do I will be lurking...
0 Kudos
john_1
Super Contributor
hey Chartboy do you see the reverse Head and shoulders on our market.taget 26600
0 Kudos
timba
Frequent Contributor
like the prawler that you are....but what open level are you reffering to????
0 Kudos
Not applicable
the level the market opened at....nice lil trade up to 26398...and then sell short as you go flat.....so if u long say 3...you sell 5..which gives you a surf down the wave..worked like a charm down to 26321
0 Kudos
john_1
Super Contributor
God I hate it when I am so damn right.
0 Kudos
Not applicable
John that was not a reverse head and shoulders it was the gap which propelled the action...a head and shoulders cannot have the neckline violated like that...I know what you are looking at but a break of 180 pts invalidates this as head and shoulders....
0 Kudos
Not applicable
your level is wrong it wasnt 26600 as you state by 26000
0 Kudos
Not applicable
apologies...I see that was your target level...didnt read properly
0 Kudos
Not applicable
i am interested in learning about your gap plays but dont know which index/share you are doing this with . i always thought it was with the all share but believe cant do it through ost . please help .
0 Kudos
john_1
Super Contributor
Now I think if the US has a bad day we will go back and test the 26000 level, an open gap here would mean a change in trend so I would expect a gap close, but A battle will take place at 26000 if the bulls want controll of this market. Thats Just my opinion.
0 Kudos
Not applicable
Chart boy, today was just not ur day. I closed 1 trade this morning, went out came back opened another and still made another profit. how the hell did u get it wrong?
0 Kudos
Not applicable
I agree with john. The 26000 level will be tested again.
0 Kudos
Not applicable
Mkadir...you have the wrong end of the stick my friend...the gap I was reffering to is the gap created on morning of 15 July....please note at what time this post was made...just when the gap started closing....if you look further I said the gap created yesterday will close at some time but I said I dont know when
0 Kudos
Not applicable
My apologies chartman. i did not read the post.
0 Kudos
john_1
Super Contributor
thats 2 for 2! and now to double your money which gaps going to close you ask? And out comes the crystal ball once again and ...
0 Kudos
saash
Super Contributor
The law off probabilities predicts that, since yesterdays gap did not close yesterday, and still has not closed today, and since there is a gap down today which has not closed, then on monday the probability is that we will close todays gap and then rally quite some way during the week, probably to close gap down made on 3 July. All this action promises to make up quite substantially for the serious lack of action on the market today.
0 Kudos
Not applicable
Ja Saash...today was a day for doing something other than trading...today was the longs giving back some of the excesses of yesterday...if you look at the bid and the ask the huge ask orders just sat there waiting to be taken out...the 50/100 contract order just begging to be bid....even a very significant rally on the FTSE of some 100 pts could not move us...as soon as the bulls wanted to gain some momentum in came another barrage of sell orders...the only slight squeezes were to the downside but not a tradeable market.....anyone who tried today had to get chopped...I tried in the morning but gave up after fighting to make 2 K......trying to make money in a non trending market is a self destructive excersise....
0 Kudos