From here?, page-59

There aren't any gaps. We call them 'gaps in the chart' for a reason, and the easierst way to see them is to look at the chart.



Note that it is a daily chart, and not intraday. If you use intraday, you are likely to have gaps like swizz cheese, depending on what time frame you use. Traditionally, gaps are measures against on a daily basis.

In the above chart, if you use the closing and openening prices between consequitive days, you can find a gap at .72. But if the price extends within the day to close the gap, as it has done here, then the gap is already filled.

This is in fact confirmed when the question is asked, 'will the gap at .72 be closed.' It means, will the price go down to closing price at .72. Let's say that it does, and immediately rises again. Everyone will declare that the gap is now closed.

But, if it momentarily closes that so-called gap, and the daily price doesn't close at the gap price, then we are acknowledging that the gap is closed for as long as the gap price is reached at some time. This in fact had already occured. That is, the fake gap at .72 was already closed by the wick of yesterday's candle.

Gap theory though is realy only a matter of convention, and not some natural law, like gravity. Therefore you can make your own theory as you see fit, just as all conventions are. Culture, we call it. Always fluid.