I would not look at TA in absolute's(I bet that not a real word lol) i look at it in more of shades of maybe's...
If you notice after the gap up the seller came back in, but the low of candle 2 held.... what the chart don't tell ya is (and never will) if another seller decides they want out, it just tells ya that right now 2.80 or 2.85 there are more buyers than sellers...
if it takes out 3.22 it should go to around 4.00 (maybe)
Hi GR Just remember the horizontal lines. Draw a line from the lows for the support and a line from the highs for the resistance. The Price may or may not retest the support, it might hold higher support, which would be a slight uptrend signal. When the previous resistance becomes support then it is usually a Good uptrend signal, or at least for a move back to previous resistance. Here you can see where DYN moved back above $3 and held support there, after retesting the gap support. I would watch 3.15 as resistance here now, support from last Tuesday's gap up, and 3.08-3.12 as the gap support. If it helps you can sometimes scroll down on the chart and use the window top for your straight line. That can also help you see the gap support or resistance. Good Luck GR! :^)
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