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NFP giving us a 2 gaps setup at open

By Lawrence Chan   on 2010 Aug 6 Fri 9:10:15

By the time market open, there will be 2 big gaps to deal with.

The one above is 10+ pts created today, while the one below is also 10+ pts created on Monday open.

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Comments
  • Lawrence Chan  August 6, 2010 at 11:36:27

    ES attempted to fill the gap above and failed, now stopped right at OR 2x.

    This whole afternoon will be a waste of time to trade, until after 2pm.

    Should the market stays below 50% of its range til then, we may get a sell off into the close.

  • Lawrence Chan  August 6, 2010 at 13:58:58

    2 pm – show time.

    test of day low likely as long as S2 acting as resistance.

  • Lawrence Chan  August 6, 2010 at 14:20:57

    Adam and eve formation in place.

    neckline 09 target 14.

  • Lawrence Chan  August 6, 2010 at 15:08:21

    Target hit.

    What will happen next depends on the ORL, which is also 50% of day range so far, if it can act as support.


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