Subsequent attempt last week to fill that gap did not happen.
I do not have the data to share on the daily gaps fill but breakaway gaps are less likely to fill than the other gaps.
This one seems to be supported by a change in trend.
I do expect the gap to be filled most of the time because it almost does, and it is better to tread on the side of caution. Runaway gaps and exhaustion gaps are almost always filled - may be in a few days time or could take months or years. I missed the CHN run initially and I waited 3.5 years for the runaway gap to fill and now I have taken a position with a stop below recent lows on the first breakout post higher high.
Weekly or monthly gap do have weight but imo a gap is a gap whether it's daily or weekly.
The change in trend does allow some wiggle room on INR for sure, weekly chart is still looking intact, regardless of todays fishing net trading.
Nothing is fool proof, and we always have to react according to what market is trying to say, I believe it is easier to react than to predict.
GL.
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Price($) | Vol. | No. |
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