SGP gapped down on Monday from approximately $20 to $14 (about 30%) and I kept in my WL to see if it would try to fade the gap. Yesterday in the early session I thought it would try to fade the gap, but price reversed and closed weak printing a doji-like candle on the daily.
Today SGP moved decisively towards R1 so I sensed it could trend down throughout the session, but I did not know how to interpret the 4th bar because it had a long leg at the base of R1 which could mean a sort of support. The following 3 candles were also quite weak and the 9th candle closed below R1 and it was being pushed down by the down sloping 5 EMA. I entered on the break of the 9th candle's low, took a partial at R2, and exited at $14.
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