yearly. There are three main types of gaps that can form: Weekend Gaps These are the gaps that form due to market movement during the weekend. Why are gaps so important, you ask? Its important to note that the week open gap in the chart above was not the only confluence factor at work. This level later acted as resistance as sellers began to take control of the market.
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Forex traders is that the market is closed over the weekend. This means you would look to buy or sell as soon as the gap is filled. Wait for the price to start to break before taking a position, and keep an eye on the volume; breakaway gaps should show high volume and exhaustion gaps should read low. The main idea or concept of gap trading is that p rice will always try to fill the gap. Do keep in mind that the significant gaps occur at higher time intervals. With just twelve months in a year, these are gaps you dont want to miss. As you may well know, the more confluence you have at a particular level, the more likely that level is to hold.