So in an hour the markets will open in Sydney, and it seems likely that there is going to be a gap again, the 3rd time now for the 3rd week.
Is anyone thinking of trading against the gap? The past 2 weeks it opened at a downwards gap and prices went up to close it then continued its trend.
I am thinking of doing so this time as well, thoughts?
EurUsd Price initially fell to 1.1060, currently up to 1.1093
went long at 1102
How did you get on?
I’ve been studying the charts across various pairs and may open a new account just to trade these gaps. If I do I’ll start a thread journallng this
It went up 80 pips and closed the gap, I went out half way through.
I think it would be a good idea to do that yea
It makes sense to do it again, but remember that the odds of it happening again have started to diminish.
Expert forex traders say that all gaps get filled, and it looks like we’ve seen that happen in the past couple of weeks. It looks like it worked out for a good short-term profit play again this week. Were you able to catch it?
Gaps are a great way of making profits,
Good to differentiate the different types of Gaps,
-Common Gap
-Break away Gap
-Run Away Gap
-Exhaustion Gap
-Island Reversal
So any idea what types of gaps we have been dealing with the last 3 weeks?
Analyzing Chart Patterns: Gaps | Investopedia