Simple's Green Room

[Heavyweight]

Hey pennies, I've posted a chart of the AJ 4hr. The squares indicate the "snap back maneuver" (for lack of a better term) that I referred to a little while ago. When price action makes a violent move, either up or down, it leaves gaps in the chart that are hard to see and must be filled. I think it's due to unfilled orders and that's why the return is usually choppy but I'm still researching the reason. Sometimes these gaps are filled immediately and some can take a little while but they must be filled. I couldn't highlight all of them without the chart getting crowded but I think you can get the gist of it. GJ 4hr has a nearby area @ 167.43 above and the retest @ 160.96 below that must be filled. I don't know which will get filled first but it looks to forming a wedge all the way up to the 167 target first then back down to the 160 though it's currently at the 38.2 level. So it needs to break the wedge very soon or it's going up to the 167 level. JMO though.