28/09/2026
GLD / gap down broke 380 today, and both targets I kept talking about, 385 and 382, filled in one session.
But the drop isn't the lesson. Where the volume happened is.
Below 395 I had a bearish bias with targets of 385, 382 and lower.
Today opened with a big gap down. Price closed down nearly 4%, and volume came in 45% higher than average.
Here's the part worth studying 👇
The whole move happened before the market opened.
The actual session range was only about 60% of a normal day.
The gap did the work. Once the open came, it went almost nowhere.
Heavy volume on a gap isn't the same as heavy volume on a trend day.
On a gap it's mostly repositioning into a price that was already set overnight. People adjusting, not fighting.
So you can't read it as sellers overpowering buyers. The battle never happened on your chart.
This is also why patience beat prediction. The targets came from a level, not a forecast.
395 broke, the roadmap said 385 and 382, and both filled without needing to guess the catalyst.
Now 380 is the level I'm watching:
Gap fill long over 382.50
Short side: if it stays under 380, it may test the 375 area
And keep an eye on the month close. Monthly closes carry more weight than any daily bar, and this one lands right under a level that held for weeks.
Do you treat gap volume differently from trend-day volume, or read it the same way?
