Why the big gap?

[DB0404]

New to all this so firstly, apologies if it's in the wrong sub-forum. Secondly, apologies for what I'm certain is an idiotic, obvious and silly question 🙂 .

On the 17th of March there is a large drop, not represented by a candle stick?

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[Purple Brain]

Weekend. Opened gap down.

 

[DB0404]

Weekend. Opened gap down.

Thanks. I thought it had something to do with the weekend but because there wasn't one on any other date I could see I wasn't sure. So the gap down happened between the Friday 10pm close and Sunday 10pm open?

For a gap down to happen, is there a likely 'significant cause'? Would you know why the gap down happened this particular weekend?

 

[Purple Brain]

Cyprus. And yes, there is always a significant cause. Nobody shifts that much weight without having a jolly good reason.

 

[GammaJammer]

In reality the interbank market re-opens Sunday eve UK time in a limited sense (NZ open). In the old days it would literally be banks in NZ quoting, so if you ever hear reference to `Welly open` it means Wellington. But most electronic markets outside interbank circles use 5pm ET as their start, which also contributes to weekly open gaps, particularly in terms of retail charting data. So beware, and understand the rules of engagement as they apply to your trading.

GJ

 

[Sir Pond Life Dreg]

In reality the interbank market re-opens Sunday eve UK time in a limited sense (NZ open). In the old days it would literally be banks in NZ quoting, so if you ever hear reference to `Welly open` it means Wellington. But most electronic markets outside interbank circles use 5pm ET as their start, which also contributes to weekly open gaps, particularly in terms of retail charting data. So beware, and understand the rules of engagement as they apply to your trading.

GJ

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