...in a smaller "test" account, I went ahead and longed the USD/JPY gap for about 20 pips. It closed within a couple of hours and the pips were banked.
I also took a look at a riskier gap, the GBP/USD. When I originally saw it, it looked as though it had bottomed out at 1.9733 and was moving back up to close the gap. I went long at 1.9753, looking for the gap to close around 1.965. This was a riskier gap as I don't really watch the pound gaps like I do the USD/JPY and we had fallen below the 1.975 price level. After going long, the pound failed to stay above 1.975 and has fallen back down.
In the real world, I would cancel this trade...more so, I would have never taken it in the first place. But, I'm going to give it MORE room to breath, as I notice the 1.97 support looks to be decent. So, we'll see what happens. I got long with another few units at 1.9718.
S/L set below 1.97
