market has filled the gap! this morning Ticktools said a high
probability of filling the gap, here's a couple 5 min charts of
SPY. Also SPY has come back to the primary pivot (think green
dotted line
you know there was a RVM setup on the lows taking back 50% of
the opening down candle range for a long, however I didn't take the
trade, I had a lot of computer issues on the open and had to
reboot, see left chart
When you get a moment to could you post an item on interpreting
the tick tool signals. This morning it showed: Fill 38%
Reverse 3% Breakdown 62%.
That to me seems like it is indicating only a 38% chance
of a gap fill. Obviously i'm interpreting it incorrectly,
because you say there was a good chance of a gap fill. So how
the heck do you read this thing?
SPY 5 min and gap filled
Posted by matt on 6th of Jul 2015 at 10:44 am
market has filled the gap! this morning Ticktools said a high probability of filling the gap, here's a couple 5 min charts of SPY. Also SPY has come back to the primary pivot (think green dotted line
you know there was a RVM setup on the lows taking back 50% of the opening down candle range for a long, however I didn't take the trade, I had a lot of computer issues on the open and had to reboot, see left chart
Reading the tick tool
Posted by 2thguy on 6th of Jul 2015 at 10:57 am
Matt...
When you get a moment to could you post an item on interpreting the tick tool signals. This morning it showed: Fill 38% Reverse 3% Breakdown 62%.
That to me seems like it is indicating only a 38% chance of a gap fill. Obviously i'm interpreting it incorrectly, because you say there was a good chance of a gap fill. So how the heck do you read this thing?
Again, your input is appreciated.
please read over all those
Posted by matt on 6th of Jul 2015 at 11:16 am
please read over all those written examples in the sticky post, there's a ton of descriptive text that explains each item,