Good Morning Traders
I bet there are many gap-lovers on this thread.
I’ve seen many discussions here about 1M and 5M gaps, weekend gaps, daily gaps etc, etc, however a big gap on 4H chart has been totally overlooked.
I am still targeting 1.29800 in my trades, though Friday wasn’t my lucky day.
I’ve been closed on SL, having first 50+pips profit in the morning.
Nevertheless, I still believe this big 4H gap MUST be closed first before any further northbound strong movement appears.
The big battle between bears and bulls probably will take place near 1.3100-1.3080 zone, (marked as decision zone on charts)
If BULLs hold this level and price bounce above 1.3170 we could possibly see 1.32400 pretty soon (see BULLISH chart) and my GAP theory rejected.
On the other had if 1.30800 area breaks, I’d expect further depreciation and hopefully 1.29800 will close this gap for good. (see BEARISH chart)
Good Luck everybody.
I bet there are many gap-lovers on this thread.
I’ve seen many discussions here about 1M and 5M gaps, weekend gaps, daily gaps etc, etc, however a big gap on 4H chart has been totally overlooked.
I am still targeting 1.29800 in my trades, though Friday wasn’t my lucky day.
I’ve been closed on SL, having first 50+pips profit in the morning.
Nevertheless, I still believe this big 4H gap MUST be closed first before any further northbound strong movement appears.
The big battle between bears and bulls probably will take place near 1.3100-1.3080 zone, (marked as decision zone on charts)
If BULLs hold this level and price bounce above 1.3170 we could possibly see 1.32400 pretty soon (see BULLISH chart) and my GAP theory rejected.
On the other had if 1.30800 area breaks, I’d expect further depreciation and hopefully 1.29800 will close this gap for good. (see BEARISH chart)
Good Luck everybody.
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