Now matter how good the news is, or may seem, at the open I’ve found that it usually pays to wait 30 to 60 minutes to see if sellers step in. On these type of gaps, right into resistance areas after a big gain, this tends to happen more often than not:
I don’t know if that gap will close but whether it does or not at least now I can look for better entry points once I see a reversal attempt. (Which I think is happening right now…)
