Quote Originally Posted by Hoop View Post
The generalised target price measure of this breakout is 2355 + (2400-2330) = 2425....Bulkowski's TP value is less 2355 + [ (2400 - 2330) x 84%] = 2414 ..

..the resistances at 2390 and 2400 should be watched...

Gap filling....Can be an anxious time....An upward breakout can be followed by a throwback to test the breakout area before it moves up again..If this happens (37% chance..Bulkowski) it will fill the gap but remain medium term bullish...

Is it a false breakout (bull trap)?...Chances of a breakeven or negative result is 7% (Bulkowski)
At 2390 TP I must be leaving some for Bhudda.
It wont take me out yet if the gap fills, but I'm not really thinking it will pull back that far - for some reason I also saw this as a high conviction play.