This is what I'm getting at. Both my U/Jpy gaps had closed early on my two brokers, but looking on SparenFX around 10:30 am I noticed they still had an open gap. Hence this is what I traded, with their closing price as my exit price.
What this is suggesting to me, is that most brokers will manipulate prices on or after open so as to hide or close gaps asap, when the overall market hasn't actually reached the real closing price.
On GoMarkets it was the first 15 minute bar which closed the gap. The price subsequently rose 26 pips, went sideways for an hour or so and then tumbled right through the closing price again.
SparenFX I would suggest is a much bigger broker than Go and probably have much less ability and maybe need, to manipulate prices. Hence the gap stayed open until the market actually closed it.
To give you an idea Sparen charge a commission on every trade, their spreads can be as low as 0.7 of a pip. The biggest problem with using them is that there minimum trade is 0.4 (USD $40,000.00) No good to a novice like me.
BTW both my GBP/CAD trades closed out about 12:30 am last night, thankfully as they were the only gap trades I managed to do.
