Gap can be seen on all timeframes (usually 15min,30,1hr,4h,weekly. Monthly is rare). The japenese call it a window. Last week, Pound rallied and close near its highs. Traders usually dont keep an open position over the weekend but since it closed near the high, that means buyers were willing to commit to their position for the weekend. I think this is one of the reasons we got a huge gap on pound. Gaps usually occur during news time like NFP or CPI but those are not the gaps I watch. I noticed that when the week closes, and when it opens again on monday, if we get a decent gap, it will retrace to the gap. From there, it might find support or it can serve as resistance.
Yes I am risking more then 2% of my capital on any given trade. Usually 10% but sometimes it more or less depending on the currency and some trades you have a very tight stop loss so not much risk.
London didnt have the response I was looking for
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Yes I am risking more then 2% of my capital on any given trade. Usually 10% but sometimes it more or less depending on the currency and some trades you have a very tight stop loss so not much risk.
London didnt have the response I was looking for
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