10.9.23 9:30 am The silver gapped open on its opening price and then it eventually went lower by 382 which formed a potential support. the concern as a buyer Is that the market is not quite showing you a two-bar reversal higher... but it's close. In addition it doesn't take much for the market to show you a two-bar reversal that suggests that the market is going to break below the 382 and be a short trade. In the meantime the markets really not going anywhere at this time. and it's basically showing small bars retesting miter gaps higher and lower. What makes the long trade more attractive is that there was a very nice swing from the support on Friday and the market gaps a little bit higher on the open with a minor 382 correction and if this 382 holds we can see this market go significantly higher. On the other hand It doesn't take much for the market to have a two-bar reversal going lower and there's not a lot of supporting structure so the market could go significantly lower. It's a tough trade to take here... I'm guessing that the next 30 or so minutes will bring some clarity and possibly a trade decision. The video was an explanation of how I would use the terms Gaps and retest of gaps. It doesn't take me 8 minutes to do a video to see the gaps... I just have to spend a moment or two to look at what the market's doing... and I see gap retests With the market did for the moment has very shallow range. If I don't do this kind of thinking it is my belief that I'm going to still have a point of view and it may be more influenced by the impulse to want to take a trade because time is money and no trade means no money and I am a recovering impulse trader with bad trade decisions and a painful record of stops.
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