Posted by elementsix on 19th of Apr 2024 at 12:04 pm
Gaps - You bring up a good point Digi...
Love to hear Matt and Steve chime in.
Per traditional thinking, the gap holds because the market
closed at 4pm and opened at 9:30, which is the lions share of
volume. But it's hard to ignore that gut wrenching dive we took
overnight. With 23/5 trading, gaps should be nearly non-existent,
except for weekends. (e.g. crypto doesn't experience gaps in the
same way).
Posted by DigiNomad on 19th of Apr 2024 at 12:10 pm
I've decided that they are less relevant but they still mark
meaningful levels on my 23 / 5 charts because they are typically
characterized by higher volume and larger price movements.
I've seen too many upside and downside targets achieved and
gaps filled overnight (along with the corresponding price action
that was expected) to think otherwise, but there's always going to
be some disagreement on this point.
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Gaps - You bring up
Gap? Did we get low enough to fill it a ...
Posted by elementsix on 19th of Apr 2024 at 12:04 pm
Gaps - You bring up a good point Digi...
Love to hear Matt and Steve chime in.
Per traditional thinking, the gap holds because the market closed at 4pm and opened at 9:30, which is the lions share of volume. But it's hard to ignore that gut wrenching dive we took overnight. With 23/5 trading, gaps should be nearly non-existent, except for weekends. (e.g. crypto doesn't experience gaps in the same way).
Are gaps becoming less relevant now?
I've decided that they are
Posted by DigiNomad on 19th of Apr 2024 at 12:10 pm
I've decided that they are less relevant but they still mark meaningful levels on my 23 / 5 charts because they are typically characterized by higher volume and larger price movements. I've seen too many upside and downside targets achieved and gaps filled overnight (along with the corresponding price action that was expected) to think otherwise, but there's always going to be some disagreement on this point.