DislikedI agree with you but their is a good deal of literature on gap trading....
As far as trading goes, its perception that drive market and not reality..
If people believe it will happenIgnored
That is just as good as saying that smaller account holders drive the forex markets? "The Big Boys" don't have gaps, as their systems is online 24/7 (i.e. never closes to form a gap). Now what could perhaps happen is that people might have gone short for instance during the UK close the one day. The next day they come into the office and it they could decide to close their trades or take profits (depending on where support / Resistance levels are)... they can both close trades and bulls can enter up to the point where "supposed gap" started from - WHY - because 10 to 1 it is a proper resistance level again (not because there is a gap). Thus "Gaps" that we see due to the fact of being with crappy brokers might be filled, but not because of the fact that there is a gap... i.e. GAPs does not need to be filled, but most likely would as if the market sentiment reverses.