Morning all This morning we see some nice gaps on the various FX...

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.