How to explain the 12th to 13th midnight trading gap? | Forex Factory

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How to explain the 12th to 13th midnight trading gap?

  • #1
  • First Post: Dec 14, 2019 5:19am Dec 14, 2019 5:19am
hi

At the close of the day on the 12h of December 2019 there was a huge gap on GBPUSD right at the first hour of the day.

i don't understand how this can happen ? I thought forex was a 24/24h market ?

please tell me how it works so i can prepare for this kind of event, because if you're on the wrong side of the market and this happen you can lose a lot

so is it better to close all positions at 23:59 ?

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thanks

Jeff
  • #2
  • Dec 14, 2019 6:50am Dec 14, 2019 6:50am
Quoting ionone
hi At the close of the day on the 12h of December 2019 there was a huge gap on GBPUSD right at the first hour of the day. i don't understand how this can happen ? I thought forex was a 24/24h market ? please tell me how it works so i can prepare for this kind of event, because if you're on the wrong side of the market and this happen you can lose a lot so is it better to close all positions at 23:59 ? {image} thanks Jeff
I have no gap but there were elections in the UK 12 december.
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  • #3
  • Dec 15, 2019 6:17am Dec 15, 2019 6:17am
Quoting Dmh
{quote} I have no gap but there were elections in the UK 12 december. {image}
what do you mean you have no gap ? could you show a screenshot ?

thanks

Jeff
  • #4
  • Dec 15, 2019 6:25am Dec 15, 2019 6:25am
Quoting ionone
{quote} what do you mean you have no gap ? could you show a screenshot ? thanks Jeff

What is your broker? on Fxpro there is no gap...Windsorbroker has gap...so depends on broker ..why is that? I have no clue.
  • #5
  • Dec 15, 2019 6:50am Dec 15, 2019 6:50am
Quoting ionone
hi At the close of the day on the 12h of December 2019 there was a huge gap on GBPUSD right at the first hour of the day. i don't understand how this can happen ? I thought forex was a 24/24h market ? please tell me how it works so i can prepare for this kind of event, because if you're on the wrong side of the market and this happen you can lose a lot so is it better to close all positions at 23:59 ? {image} thanks Jeff
If you are trading the GBP/USD you should know that at exactly that time (10:00pm UK time) the exit polls for the election came out giving the Conservatives a big win. This triggered loads of BUY orders.
It was just coincidence that it happened at exactly the close/open.
It takes time
  • #6
  • Dec 15, 2019 6:52am Dec 15, 2019 6:52am
Quoting YYZ
{quote} What is your broker? on Fxpro there is no gap...Windsorbroker has gap...so depends on broker ..why is that? I have no clue.
i think they filled the gaps with false prices
  • #7
  • Dec 15, 2019 6:52am Dec 15, 2019 6:52am
Quoting galactico
{quote} If you are trading the GBP/USD you should know that at exactly that time (10:00pm UK time) the exit polls for the election came out giving the Conservatives a big win. This triggered loads of BUY orders. It was just coincidence that it happened at exactly the close/open.
ok thanks
  • #8
  • Dec 15, 2019 6:57am Dec 15, 2019 6:57am
I was surprising also on my fxcm Mt4 has different with my fxcm dekstop trading station, only on mt4 there was gap. (I v been asking on thread fxcm discussion but still has no response)

But gap gave me profit instead. I am lucky
3Some Candle TacticaL
  • #9
  • Dec 15, 2019 7:26am Dec 15, 2019 7:26am
Quoting galactico
{quote} If you are trading the GBP/USD you should know that at exactly that time (10:00pm UK time) the exit polls for the election came out giving the Conservatives a big win. This triggered loads of BUY orders. It was just coincidence that it happened at exactly the close/open.
If you have ever tried trading at swap, you'll know you can't place any trade, market is closed for at least a minute.
  • #10
  • Last Post: Dec 15, 2019 7:53am Dec 15, 2019 7:53am
Quoting KoiFish
{quote} If you have ever tried trading at swap, you'll know you can't place any trade, market is closed for at least a minute.
Exactly this. Furthermore displayed quotes around rollover should not be taken too serious. You most likely wont get executed at the visible prices due to the general low liquidity present here.

But on that particular date we had the release of the first UK election data. Amazing that you totally missed that.
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