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To: heehee1 who wrote (112601)1/27/2005 5:52:41 PM
From: Shack  Read Replies (1) | Respond to of 209892
 
The gap and trading range of the day needs to be compared not with the previous day's close to create an island, but with the previous day's high. There needs to be two gaps on each side where absolutely no trading took place (the "ocean" I guess) so that the island is isolated, hence the name. And its very rare.

This traps the traders on the "island":

chart-patterns.netfirms.com