Innovation Pharmaceuticals Inc (IPIX)

[TOB]

It is only statistically significant for thousands of trades in thousands of stocks. And only to a certain percentage at that.

If a gap filling on the same day is statistically significant I won't buy future shares on a day with a gap until it fills, -F1ash

Many who scalp this idea may also have a rule, such as at least 5% or greater to scalp. Then a 'proven wrong' stop loss order.

For our CTIX, so far our tiny opening gaps have tended to fill. True in hindsight. But we could also see CTIX runaway gaps that never fill. Or only do so after big moves. Especially on news, rumour, or just a big player entering the arena.

There's almost no simplistic TA based system that makes money. Otherwise it would be widely used and the edge would disappear. That's why there are so many TA systems and courses for sale. They don't work. Those who can't do, tech.

The best TA folks have several years of experience, complex systems with multiple time frames, at least 2 or 3 indicators, complex entry and exit rules, and historical back-tests with thousands of data points. Most of them don't make money, lol. And even those with a winning system tend to lose over-all or under-perform their systems because of all the psychological traps and challenges of trading; impulsiveness, off-plan trades, melt-down days, etc.

The best TA people appear to use a combination of TA, feel, guidelines for scaling in and out, and mixed with a knowledge of fundamentals. That is playing stocks they understand and have reason to be bullish about. They are few. We are many.