Gap
Long EUR/USD: EUR 10,000 bought at 1.1000, ordinary sell stop at 1.0980. In an assumed reopening gap, the first executable Bid and confirmed fill are 1.0950. Price loss is USD 50, versus USD 20 at the planned stop fill, before additional charges.
What the chart actually shows
A gap concerns discontinuity in a specified price series. A provider may resume quoting at a different level after a break, while another source has different times or prices. Missing bars caused by a data outage are not automatically a market gap. Record the source, quote side and trading schedule before describing the event.
Stop, limit and guaranteed terms
An ordinary stop may activate at reopening and fill beyond its trigger. A stop-limit imposes an execution-price boundary but can leave exposure open. A separately contracted guaranteed stop follows its own terms. Neither a chart label nor a historical candle is proof of the executable price available for every order size.
Plan the reopening scenario
Stress both directions, wider spreads, delayed execution and margin effects on all open positions. Weekend, holiday and news risks depend on the product and venue. A gap need not fill later, and no standard recovery time or fixed maximum size follows from its name. Distinguish anticipated stop loss from confirmed realised loss in the journal.
FAQ
Must every gap be filled?
No. Returning to the pre-gap price is an outcome to observe, not a rule guaranteed by market structure.
Can a gap exceed my stop-loss budget?
Yes. An ordinary stop does not guarantee its fill price; compare the actual execution with the original risk assumptions.
