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Hi All and Rajesh!
I am purely an NQ trader, Rajesh, I love your weekly analysis. However, I am trying to determine how you mark your body gaps? I am only 2 years in so it is a little confusing, I have watched Al's video on body gaps, but still having trouble. Maybe you or someone on the forum can help me?
Regards,
R.J.
Hi Richard, Same here Rajesh rocks.
You think you could post any chart you can think of? and we break it apart (so to speak)?
Hey Mike! I guess we can start with the Weekly like he does.
Richard, thanks!
Here are the gaps - they don't have body overlaps ... may have missed some, but those marked are prominent .. is that what you had in mind first time when asking body gaps?
Thanks for the supportive feedback. You are very kind 🙂
For a bull body gap, its the highest bull close to the left above which there is a breakout such that a pullback (bear bars) does not have the body of the bear bars overlapping with the body of the highest bull close to the left. Opposite for bear gap.
It becomes more obvious if you visualize the chart as line-charts (or only look at the close of bars), and then seeing that there is no overlap with the highest/lowest bar on the left for bull/bear gap correspondingly.
Or yet another way to say it is - think of swing high/low in terms of close of bars, and repeat the same exercise above 🙂
Richard, thanks!
Here are the gaps - they don't have body overlaps ... may have missed some, but those marked are prominent .. is that what you had in mind first time when asking body gaps?
Hello Mike: so draw those lines at the high/low close of the bars instead of the high/low of the bar, and then see if the body of a bar intersects it to the right...Usually you will see just one bar intersecting is not enough to close the body gap. You need another close past that bar otherwise its the equivalent of what Al calls a negative gap.
Now, I am really confused! Haha, Thanks Mike, I had the same Idea as you, then when I tried to figure out what Rajesh was looking at to draw them I couldn't figure it out, it didn't seem to be the way AL taught in the video. I didn't see glaring gaps or reasons as to why he drew his gaps. I am kind of lost in your response Rajesh. Thank you for responding though!
Now, I am really confused!
switch your charts to line-charts and try to find gaps like what you have learnt from Al’s videos. Mark the gaps with lines…then switch the chart back to ohlc bar charts and see how the lines drawn look now… I think once you see what’s happening you will start spotting them without needing to switch chart types.
Got it! Thanks Rajesh!
