N***i
发帖数: 2063 | 1 与大家共享, 大牛多指教，并请贡献自己心得，让我们这些蝌蚪的尾巴能多学点.
http://www.investopedia.com/articles/trading/05/playinggaps.asp
摘要
1 Gap是因为交易的剧烈变化而产生的.
2 Gap是FA/TA变化的结果
3 Gap分四种
Breakaway gaps: 旧价格趋势的尾端，新趋势的开始
Exhaustion gaps：价格趋势的末端，冲击新高或者新低的最后一搏
Common gaps：无法归类到价格的趋势
Continuation gaps：延续趋势
4 Gap是否回填.
Irrational Exuberance(非理智的)，过分乐观或者悲观而产生的回填.
Technical Resistance:价格上下剧烈变动时，没有支撑和阻力
Price Pattern: Exhaustion gaps最容易回填. Continuation gaps and
breakaway gaps回填的可能性则较小一些.
5. 如何利用gaps赚钱（自己看how to play the gaps）
6 利用gap交易需注意以下事项
a)gap一旦被回填，极少停止
b)Exhaustion gaps/continuation gaps价格运动方向不同，请务必正确归
类
c) 务必等价格开始突破以后入场交易(make sure to wait for the price to start
to break before taking a position. )
7. 密切观察交易量 breakaway gaps---high volume; exhaustion gaps---low
volume
8 例子
9 结论 减少风险
10再次提醒 gaps are risky,但是如果能妥善交易，可快速获利
Gaps are areas on a chart where the price of a stock (or another financial
instrument) moves sharply up or down with little or no trading in between.
As a result, the asset's chart shows a "gap" in the normal price pattern.
The enterprising trader can interpret and exploit these gaps for profit.
Here we'll help you understand how and why gaps occur, and how you can use
them to make profitable trades.
Gap Basics
Gaps occur as a result of underlying fundamental or technical factors. For
example, if a company's earnings are much higher than expected, the company'
s stock may gap up the next day. This means that the stock price opened
higher than it closed the day before, thereby leaving a gap. In the forex
market, it is not uncommon for a report to generate so much buzz that it
widens the bid and ask spread to a point where a significant gap can be seen
. Similarly, a stock breaking a new high in the current session may open
higher in the next session, thus gapping up for technical reasons.
Gaps can be classified into four groups:
* Breakaway gaps are those that occur at the end of a price pattern and
signal the beginning of a new trend.
* Exhaustion gaps occur near the end of a price pattern and signal a
final attempt to hit new highs or lows.
* Common gaps are those that cannot be placed in a price pattern - they
simply represent an area where the price has "gapped".
* Continuation gaps occur in the middle of a price pattern and signal a
rush of buyers or sellers who share a common belief in the underlying stock'
s future direction.
To Fill or Not to Fill
When someone says that a gap has been "filled", that means that the price
has moved back to the original pre-gap level. These fills are quite common
and occur as a result of the following:
* Irrational Exuberance: The initial spike may have been overly
optimistic or pessimistic, therefore inviting a correction.
* Technical Resistance: When a price moves up or down sharply, it doesn'
t leave behind any support or resistance.
* Price Pattern: Price patterns are used to classify gaps; as a result,
they can also tell you if a gap will be filled or not. Exhaustion gaps are
typically the most likely to be filled because they signal the end of a
price trend, while continuation and breakaway gaps are significantly less
likely to be filled since they are used to confirm the direction of the
current trend.
When gaps are filled within the same trading day on which they occur, this
is referred to as fading. For example, let's say a company announces great
earnings per share for this quarter, and it gaps up at open (meaning it
opened significantly higher than its previous close). Now let's say that, as
the day progresses, people realize that the cash flow statement shows some
weaknesses, so they start selling. Eventually the price hits yesterday's
close, and the gap is filled. Many day traders use this strategy during
earnings season or at other times when irrational exuberance is at a high. (
For more on this subject, read The Madness Of Crowds.)
How To Play the Gaps
There are many ways to take advantage of these gaps. Here are a few popular
strategies:
* Some traders will buy when fundamental or technical factors favor a
gap on the next trading day. For example, they'll buy a stock after-hours
when a positive earnings report is released, hoping for a gap up on the
following trading day.
* Traders might buy or sell into highly liquid or illiquid positions at
the beginning of a price movement, hoping for a good fill and a continued
trend. For example, they may buy a currency when it is gapping up very
quickly on low liquidity and there is no significant resistance overhead.
* Some traders will fade gaps in the opposite direction once a high or
low point has been determined (often through other forms of technical
analysis). For example, if a stock gaps up on some speculative report,
experienced traders may fade the gap by shorting the stock.
* Traders might buy when the price level reaches the prior support after
the gap has been filled. An example of this strategy is outlined below.
Here are the key things you will want to remember when trading gaps:
* Once a stock has started to fill the gap, it will rarely stop, because
there is often no immediate support or resistance.
* Exhaustion gaps and continuation gaps predict the price moving in two
different directions - be sure that you correctly classify the gap you are
going to play.
* Retail investors are the ones who usually exhibit irrational
exuberance; however, institutional investors may play along to help their
portfolios - so be careful when using this indicator, and make sure to wait
for the price to start to break before taking a position.
* Be sure to watch the volume. High volume should be present in
breakaway gaps, while low volume should occur in exhaustion gaps.
Example
To tie these ideas together, let's look at a basic gap trading system
developed for the forex market. This system uses gaps in order to predict
retracements to a prior price. Here are the rules:
1. The trade must always be in the overall direction of the price (check
hourly charts).
2. The currency must gap significantly above or below a key resistance
level on the 30-minute charts.
3. The price must retrace to the original resistance level. This will
indicate that the gap has been filled, and the price has returned to prior
resistance turned support.
4. There must be a candle signifying a continuation of the price in the
direction of the gap. This will help ensure that the support will remain
intact.
Note that because the forex market is a 24-hour market (it is open 24 hours
a day from 5pm EST on Sunday until 4pm EST Friday), gaps in the forex market
appear on a chart as large candles. These large candles often occur as a
result of the release of a report that causes sharp price movements with
little to no liquidity. In the forex market, the only visible gaps that
occur on a chart happen when the market opens after the weekend.
Let's look at an example of this system in action:
Figure 1 - The large candlestick identified by the left arrow on this GBP/
USD chart is an example of a gap found in the forex market. This does not
look like a regular gap, but the lack of liquidity between the prices makes
it so. Notice how these levels act as strong levels of support and
resistance.
We can see in Figure 1 that the price gapped up above some consolidation
resistance, retraced and filled the gap, and finally, resumed its way up
before heading back down. Technically, we can see that there is little
support below the gap, until the prior support (where we buy). A trader
could also short the currency on the way down to this point, if he or she
were able to identify a top.
Conclusion: Minimizing Risk
Those who study the underlying factors behind a gap and correctly identify
its type can often trade with a high probability of success. However, there
is always a risk that a trade can go bad. You can avoid this by doing the
following:
* Watching the real-time electronic communication network (ECN) and
volume: This will give you an idea of where different open trades stand. If
you see high-volume resistance preventing a gap from being filled, then
double check the premise of your trade and consider not trading it if you
are not completely certain that it is correct.
* Being sure that the rally is over: Irrational exuberance is not
necessarily immediately corrected by the market. Sometimes stocks can rise
for years at extremely high valuations and trade high on rumors, without a
correction. Be sure to wait for declining and negative volume before taking
a position.
* Using a stop-loss: Always be sure to use a stop-loss when trading. It
is best to place the stop-loss point below key support levels, or at a set
percentage, such as -8%. (To learn more, see The Stop-Loss Order - Make Sure
You Use It.)
Remember, gaps are risky (due to low liquidity and volatility), but if
properly traded, they offer opportunities for quick profits. | j******q
发帖数: 399 | | y***q
发帖数: 4147 | | L********l
发帖数: 575 | 4 你这个图算gap吗,我怎么觉得像阻力线和支撑线,gap是向上向下跳空的意思把?我猜的,
请指教 |
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