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Auslanco - GBP/JPY and GBP/USD (newstrade)

  • #64,621
  • Mar 3, 2008 8:11am Mar 3, 2008 8:11am
My ibfx chart shows a 100 pip gap. Fdxx chart is only showing a 10 pip gap. But there is a gap down from last Friday's close nonetheless.
  • #64,622
  • Mar 3, 2008 8:12am Mar 3, 2008 8:12am
alot of you seemed to be basing your trades on this gap being filled. if esginal and others arnt showing a gap is it really there? cause if its not...
  • #64,623
  • Mar 3, 2008 8:12am Mar 3, 2008 8:12am
Quoting quecee5
Good man. . .
Had to get some sleep last night but it's always good to wake up to green pips. . . How are u 2day?
am good woke up to 900pips waiting for me..still waiting for this thing to get to 200 before locking 1000pips..did you get the report
Imanuel Parsifal
  • #64,624
  • Mar 3, 2008 8:13am Mar 3, 2008 8:13am
someone mentioned that oanda showed no gap at all..... that there actually is no gap..... i have no idea though... just thought u all should take into consideration.....
  • #64,625
  • Mar 3, 2008 8:14am Mar 3, 2008 8:14am
Quoting Genics
alot of you seemed to be basing your trades on this gap being filled. if esginal and others arnt showing a gap is it really there? cause if its not...
101 pips gap... it's there.
  • #64,626
  • Mar 3, 2008 8:15am Mar 3, 2008 8:15am
Quoting sycho
am good woke up to 900pips waiting for me..still waiting for this thing to get to 200 before locking 1000pips..did you get the report

Yep, very good report and I concur with your point a view!
  • #64,627
  • Mar 3, 2008 8:17am Mar 3, 2008 8:17am
On my Alpari UK real account the gap is like others have shown, but it doesn't show sunday data at all.

ODL Securities MT4 demo shows no gap, maybe a very little.
Attached Image
  • #64,628
  • Mar 3, 2008 8:17am Mar 3, 2008 8:17am
Quoting dagoods
someone mentioned that oanda showed no gap at all..... that there actually is no gap..... i have no idea though... just thought u all should take into consideration.....
dont see any on northfinance..how are you dagood,you have so on the side line today
Imanuel Parsifal
  • #64,629
  • Mar 3, 2008 8:21am Mar 3, 2008 8:21am
Quoting quecee5
Hope everyone caught the pips last night - it was a ride ride. I got stopped out at +1 on my long trade but waited for it to bottom and got in long @ 203.62. . .

Looks like 205.30 is the 1st target, then we'll have to re-evaluate once it gets there. I still think we'll see at least the gap close within the next day or so but GJ is still in a down trend and the next targets are set at 202/201 area if the bears get the downward momentum going. . .

JMHO. . .

Awesome trading.

Looks all set to close gap. On the 5 min there is an ascending triangle with a top at 205 ish
Blogging daily now at www.volume.zone
  • #64,630
  • Mar 3, 2008 8:24am Mar 3, 2008 8:24am
Quoting SimonJ
On my Alpari UK real account the gap is like others have shown, but it doesn't show sunday data at all.

ODL Securities MT4 demo shows no gap, maybe a very little.
Yes it's because Alpari and ODL open at +1.00 GMT and therefor no or small gap is shown but other brokers who open at +2.00 GMT and above, show a gap around +120 pips.

I think the main reason for gaps is this difference between market opening times in different regions.
Discipline + Patience - Fear - Greed = Success
  • #64,631
  • Mar 3, 2008 8:25am Mar 3, 2008 8:25am
Quoting arezab
Yes it's because Alpari and ODL open at +1.00 GMT and therefor no or small gap is shown but other brokers who open at +2.00 GMT and above, show a gap around +120 pips.

I think the main reason for gaps is this difference between market opening times in different regions.
makes sense as oanda is 24/7
  • #64,632
  • Mar 3, 2008 8:26am Mar 3, 2008 8:26am
http://img134.imageshack.us/img134/5808/sspt6.jpg
there is sunday (what others are showing as a gap), i would be inclined to go with esignal than a brokers software TBH
  • #64,633
  • Mar 3, 2008 8:28am Mar 3, 2008 8:28am
Can't seems to post a chart but anyone noticed there is an inverted H+S in 1hr chart?
I'm not sure if it's a valid one though.
  • #64,634
  • Mar 3, 2008 8:29am Mar 3, 2008 8:29am
Quoting pkimnyc
Can't seems to post a chart but anyone noticed there is an inverted H+S in 1hr chart?
I'm not sure if it's a valid one though.
check the 30m - its much more clear.
  • #64,635
  • Mar 3, 2008 8:31am Mar 3, 2008 8:31am
Quoting Genics
alot of you seemed to be basing your trades on this gap being filled. if esginal and others arnt showing a gap is it really there? cause if its not...
I for one am not basing my trade on the gap being filled because most often then not gaps can linger on for long periods of time and never get filled.

Trades should be based on technicals and "gap fills" isn't one of the technicals that should be used. . .

Based on this 1hr chart there is a good chance that we could see an upmove in GJ if it gets above the 21 day EMA - the next resistance will be 205.30 area which is a good next target. . . Other resistance shown above on the chart. . .

Good post!
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  • #64,636
  • Mar 3, 2008 8:34am Mar 3, 2008 8:34am
CHART IS CLEAR
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  • #64,637
  • Mar 3, 2008 8:36am Mar 3, 2008 8:36am
Quoting hussin naiji
CHART IS CLEAR
Very clear - nice chart!
  • #64,638
  • Mar 3, 2008 8:37am Mar 3, 2008 8:37am
h n s chart for ya
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  • #64,639
  • Mar 3, 2008 8:38am Mar 3, 2008 8:38am
Quoting pkimnyc
Can't seems to post a chart but anyone noticed there is an inverted H+S in 1hr chart?
I'm not sure if it's a valid one though.
I was thinking about it's formation earlier:

Quoting arezab
I think an inverse H&S formation is highly probable to form. As auslanco said, 205.60-70 area seems to be a normal place for the pair to pull back and build the second shoulder.

If I see such a thing with a bullish divergence and certainly PA, I'll enter hard long targeting 208.50 which is %50 fib retracement.
I thought it should move up to 205.60 area and then return to the current price to form an inverse H&S but it didn't go so far, though H&S was somehow predictable to me. Though this seems more like a ascending triangle and if broken above it's trend line, the I expect the price to move up to at least 206.10 (which also fills the gap there).

Let's see how it plays ...
Discipline + Patience - Fear - Greed = Success
  • #64,640
  • Mar 3, 2008 8:40am Mar 3, 2008 8:40am
Very nice analysis going today guys -
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