Replies to post #11199 on 123Tom's TA study group

[Citrati]

From a classical TA point of view very few TA traders would accept the idea that it is a potential breakaway gap or even a gap at all.
First. Purists would look at the pole and tail on the candle and conclude there is no gap.
Second. It takes time to confirm a breakaway gap, which has not occurred yet.
Third. If you switch to HLC bars there is no gap.
Fourth. While volume is usually present with up or down gaps to my knowledge it is not the main feature. An actual price gap on the chart is the main feature.
Lastly, I do not think that any TA purist would accept only the candle body positioning (eliminating the existence of the pole or tail) as proof of a gap.

That is my opinion. Would be interested in the logic for any one of your friends not accepting the above explanation. Fun discussion. Green Trades.