Just looking over the chart again, there was some obvious strong dollar movement over night...not sure on the GBP gap and why/what/etc...but it certainly did not fill.
For whatever reason, overall, I seem to like the JPY gaps the best. The USD/JPY & the EUR/JPY both had nice gaps that filled quickly. This is the 5th Sunday gap that I've tracked with the USD/JPY that has filled.
I'll run through later and update the other gaps that filled/didn't fill. But in regards to the pound, it just looks like some strong dollar strength came in with the market open and did not stop. Not sure what else to say about this...but the 1.97 mark, while a very wide S/L, was certainly a last straw and as that was broken, we pretty much confirmed the gap would not be closing within the first 12 hours. Now, as the GBP/USD is in a range, that gap may eventually close...but right now, for all intensive purposes, it did not.
Anyway, it was a riskier trade and I knew that from the start. There was no tested support nearby to rely on and in the real world, we would have probably passed on this trade.
Meanwhile, the GBP/USD has continued downwards and broken 1.96...we may be setting up for a long later this week to play the range?
Good morning:)
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