When I look at the charts on a stock I always look to see if there are any gaps. I don't trade on this solely but I take the gap into consideration and let the price come to me. I also use support and usually trade outside of the gap to get the best price. I read on a website that 9 in 10 gaps get filled or 91.4%. I don't know how accurate this is and if accurate I am sure there is some fluctuation.
Wow. I would not be surprised. If it's really anything close to that, it's worth noting. Although, this says nothing about how long you have to give it.
Ah the time frame. I normally see what is going on in a 3 month chart with special attention to the last few weeks and which way the trend is headed. I actually used this strategy on CHK and got a little tight with the support and missed my play and a nice fat profit. In my defense I was also playing WPX that was my favorite oil play at the time and did very well. I don't think there is a set time frame as it should be what ever works with your trading style.
