Agreed. I found your post very illuminating. I also trade futures and currencies and find that gaps and market imbalances are equivalent terms, and have different strengths on different timeframes and definitely depend on market structure. Some imbalances take a very long time to get filled and it isnt always guaranteed.
Fulfilling market imbalances (or aka filling gaps) is a type of mean reversion, which is typical for consolidating or ranging markets. Im not saying trending markets dont mean revert, of course they do (pullbacks etc) but ranging markets oscillate about the mean more often imo, mitigating imbalances more frequently.
i think that gaps generated from big breakouts are often tested in the retracement (dont know how many times ive seen price gap up and retrace back to the gap, especially if it is near a major fib level). Im rambling now, but thanks for your post anyway, I learn alot from experienced people in these forums
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