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Sunday, August 15, 2010
Q/A - jxxd's BP vs. $SPX fractal
it's a continuation pattern. with the consolidation base broke down with a breakaway gap and increasing volume, the trend certainly has changed.
the gap is a resistance now. with 2 day's attemps, the gap couldn't be close, signals extreme weakness ahead, probably followed by a runaway gap.
see at least 2 past fractals, both have the similar setup and candles formation, and unable to close the gap for a few attemps, both have extreme weakness ahead.
It's a reliable fractal pattern.