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RE: BEARS rooting for an "Inverse Island Reversal" (gap pattern)
The Maestro - can I ask for a small clarification / definition of the gap.
Is gap defined as a break of price continuity between CLOSE of day 1 and OPEN of day 2?
OR
E.g. on down trend a break of price continuity between MIN of day 1 and MAX of day 2?
Both.
Thank you very much. Your answer creates the next question.
If the answer is "BOTH" then what it means that the gap was filled?
For me this one is clear (GAP FILLED):
But now the one below is not so clear (is it classified as gap filled or not):
P.S. Excuse my mspaint art skills ;)
I would consider that a bearish gap fill, yes.