New Week Opening Gap (NWOG)
NWOG (New Week Opening Gap) is the weekly imbalance between the Friday 16:59 EST close and the Sunday 18:00 EST open price. In ICT methodology this gap represents a weekly liquidity void that price is often attracted back to and can act as reference support/resistance levels.
Definition
New Week Opening Gap (NWOG) is defined as the price gap formed when the close of the last Friday session at 16:59 EST differs from the first Sunday session open at 18:00 EST. The resulting gap between these two levels forms a weekly imbalance zone, the midpoint of which is called the Consequent Encroachment (CE). Price may retrace into this imbalance due to unresolved liquidity.
Why It Matters
NWOG provides traders with a weekly reference level that frequently interacts with price. Because institutional orders may be left unfilled at the gap, the zone and its midpoint (CE) often attract retests and reactions over the week. When combined with bias and structure confirmation, NWOG can help frame weekly entries and targets.
How to Identify
- Set your chart timezone to New York Time (EST/EDT).
- Identify the close price of the Friday 16:59 EST candle — this is the Friday close reference.
- Identify the open price of the Sunday 18:00 EST candle — this is the new weekly open.
- If these levels differ, the range between them is the NWOG gap zone.
- Compute the Consequent Encroachment (CE) as the midpoint of the gap (Fibonacci 50% or simple arithmetic midpoint).
- Label the top and bottom of the zone as NWOG_high and NWOG_low based on the greater and smaller of the two prices.
How to Trade
- Establish higher timeframe bias first (e.g., Daily/Weekly structure).
- If price is above the NWOG zone and bias is bullish, wait for price to retrace into the NWOG or CE zone; confirm entries with MSS/BOS or candlestick rejection patterns on lower timeframes before buying.
- If price is below the NWOG zone and bias is bullish, treat the gap as a draw on liquidity. Wait for price to close back above the NWOG zone before considering long entry.
- If price is below the NWOG zone and bias is bearish, wait for price to retrace up to the NWOG or CE; look for bearish confirmation to enter shorts.
- If price is above the NWOG zone and bias is bearish, treat the zone as a liquidity draw; wait for price to close back below before considering bearish trades.
- Combine NWOG levels with structure confirmation and other ICT tools — do not trade solely on the gap without context.
- Place stops beyond invalidation anchors (e.g., beyond NWOG extremes or recent significant structure). Targets should include weekly liquidity clusters (swing highs/lows, equal highs/lows).
Common Confusions
IF measuring gap on a daily basis (NDOG) THEN compare 14:59/18:00 daily frames; IF measuring weekly opening gap THEN use Friday 16:59 close and Sunday 18:00 open.
IF price does not retrace into the gap then the level may remain unfilled; use CE and combine with structure confirmation rather than assuming fill.
IF NWOG is alone without bias or structure confirmation THEN consider it only a reference; entries should align with bias and MSS/BOS confirmation.
IF price reacts at the midpoint (CE) more frequently than extremes, treat CE as the primary reaction level but still respect the gap envelope for context.
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Educational resource only. Not financial advice. Trading involves substantial risk of loss.