Momentum/Elephant Bars

Hi,

When these types of bars come up on any timeframe are they stronger the more previous support or resistance points they break?

E.G

This CAD/JPY on the monthly has broken 6 previous months high lows likely to close end of month at this level does this make this bull very strong as its 6 months its broken resistance?

Also, it has a GAP underneath it does that act as extra support/supply? Is price action likley to revist the gap?

Thanks.

I am not sure what you want to know, but so far I understand you ask about a gap closing.

What I have experienced over the years is that a weekend gap sooner or later gets closed.

As for gaps during a normal trading day, I think most occur as a lack of data feed to your platform.

Hope this helps.

All i am asking is how strong that bull candle is breaking previous 5 days resistance not much different to breaking 1 day?

I seem to recall I think it was steve nison stated the more candle it closes above the stronger it is = higher probability for it to continue. I am just not sure.

You should check out the context where the candle lies. If there is a huge candle on trending markets it can predict buying/selling climax and a potential reversal coming soon. In ranging markets you can find large candles near SR levels or previous highs/lows and the market can go from one extreme to another in just a couple of candles......