After a gap down, especially a big gap down, if market has a strong buying lasting many bars, there are 3 possibilities for today:
- 60% of the time, becomes TR, when it does, 20% chance of late trend reversal down or trend resumption up
- 20% of the time, bull trend from the open lasts all day, form a BLTFO, usually a SPBLT
- 20% of the time, bull trend from the open reverses into bear trend
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