Every Smart Money Concept the
engine watches, explained.

Splitting a dealing range at its midpoint gives premium (upper half) and discount (lower half). Buying in discount and selling in premium is the basic edge — longs taken in premium are where late entries get trapped when the range reverts.

A Change of Character (CHoCH) is the first close beyond a prior swing point against the prevailing trend. It's the earliest reversal signal in the structure — and it only counts on a candle close, never a wick.

A Break of Structure (BOS) is a continuation through a prior swing in the direction of trend — the opposite of a CHoCH. Confirmed on closes, it's the structure agreeing with itself rather than reversing.

A Fair Value Gap (FVG) is a three-candle inefficiency where price moved too quickly for orders to fill, leaving a visible imbalance. Gold fills these gaps with high frequency, which is why they're tracked as both entries and targets.

An order block is the last opposing candle before a displacement move — the footprint of where large orders were likely placed just before price expanded away from that level.

A breaker block is an order block that failed to hold and was broken through, then later acts as support/resistance from the opposite side once price returns to retest it.

An Inversion FVG is a Fair Value Gap that gets fully violated rather than respected — once broken, it can flip and act as support or resistance from the opposite direction, similar in spirit to a breaker block.

Power of Three (AMD) describes a session unfolding in three phases: Accumulation (consolidation), Manipulation (a fake move to collect liquidity), and Distribution (the real, delivered move).

The Silver Bullet is a narrow, specific one-hour window each session (defined slices of London and New York) where an FVG forming and being tapped is treated as a high-probability, repeatable pattern.

The Opening Range (ORB) is the high-low range formed in the first few minutes after RTH opens. A break of that range, in either direction, is one of the earliest reads on session intent.

A liquidity void is a stretch of price with very few trades behind it — a fast, thin move. Price often revisits these areas quickly since so little real volume transacted there the first time.

Gold trades through three overlapping windows — Globex/Asia, London, and RTH/New York. Kill zones are the narrower, historically high-volatility slices inside those sessions where most of a day's real movement tends to happen.

The exact windows: London 4:00–8:20 AM ET and New York 8:20 AM–12:00 PM ET — where gold's real volume transacts. One further /GC-specific point that catches people out: contracts roll, so watch the week before expiry in February, April, June, August, October and December. Volume migrates to the next contract before the front month expires, and a chart still showing the old contract will quietly stop reflecting where the market actually is.