Morning all
This morning we see some nice gaps on the various FX pairs (see table below).
Out of the 9 pairs on the watchlist, 8 had gaps. All of the gaps are > 10 pips & a couple of the JPY pairs > 50 pips. One of the gaps is already closed.
Out of the 8 pairs with gaps I have taken trades to close the following 4: AUDJPY, USDJPY, EURJPY & AUDUSD. The other 4 gaps currently have spreads which don't make a trade worthwhile.
An update on the 3 GBP gaps from Monday 27/6/16 which remain open. Last week saw all 3 close to some degree, establishing a counter trend wave against the move away from their gaps. There's still plenty of room left in these gaps and I will be waiting for a 2nd counter trend wave to confirm a trend towards gap closure before entering trades on these to close.
Cheers, Sharks.
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