AUD/USD had a 15 pip gap, filled
GBP/JPY had a 100+ pip gap, filled.
NZD/USD had a smaller 10-12 pip gap, partially filled within three hours and then fully filled later on. Usually, I will not take notice of smaller gaps like this but went ahead and pointed it out anyway.
Gaps of 20pips-60pips are usually what grabs my attention. 100+ are nice but increase the risk.
Monday, June 9, 2008
E/J trades are out of the question right now. Looks to be hitting resistance above 167 but I will not be going short anytime soon. It's never fun trying to fight EUR strength.
I'm watching the GBP/USD, trying to keep an open mind and am looking to either short at 1.985 resist test or go long on the break of. The US fundies aren't helping much but on the other side, the UK isn't doing much better.
Trying to wait for some trending to come along...nothing as of yet. Talks of EUR/USD getting geared up for another big run up but I don't really like to trade this pair. Bigger moves and a little too crazy for me.
Also keeping an eye on AUD/USD...lots of talk about this hitting parity & I think it will happen. Just need to score a nice entry and be ready to wait.
As far as gap plays yesterday afternoon, USD/JPY & EUR/JPY both had nice 50+ pip gaps that were filled. USD/JPY had a similar 50 pip gap last Sunday that also filled. I'll continue to try and track these and if possible, exploit them in the future. I'm still new to the gap plays but have reason to believe they can be profitable with a decent Risk/Reward.
Good morning! :)
I'm watching the GBP/USD, trying to keep an open mind and am looking to either short at 1.985 resist test or go long on the break of. The US fundies aren't helping much but on the other side, the UK isn't doing much better.
Trying to wait for some trending to come along...nothing as of yet. Talks of EUR/USD getting geared up for another big run up but I don't really like to trade this pair. Bigger moves and a little too crazy for me.
Also keeping an eye on AUD/USD...lots of talk about this hitting parity & I think it will happen. Just need to score a nice entry and be ready to wait.
As far as gap plays yesterday afternoon, USD/JPY & EUR/JPY both had nice 50+ pip gaps that were filled. USD/JPY had a similar 50 pip gap last Sunday that also filled. I'll continue to try and track these and if possible, exploit them in the future. I'm still new to the gap plays but have reason to believe they can be profitable with a decent Risk/Reward.
Good morning! :)
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