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  • #32,401
  • Sep 19, 2008 7:27pm Sep 19, 2008 7:27pm
Quoting tinawu1119
Actually what I mention about the gap is between the Friday close price and Monday open price, it's not news-related gap.
It's generally news that creates the gap (not necessarily news over the weekend either). Last week, it was the collapse of Lehman Bros that caused it.
  • #32,402
  • Sep 19, 2008 7:32pm Sep 19, 2008 7:32pm
Quoting tinawu1119
Actually what I mention about the gap is between the Friday close price and Monday open price, it's not news-related gap.
If you have a chart that has a gap from Friday close to Monday open (that is not news-related) I advise you to change brokers. It almost never happens.

At least with the broker I use and can bring up 1 minute data or tick data going back years and not find very many instances where this happened without it being due to some news event.
  • #32,403
  • Sep 19, 2008 7:34pm Sep 19, 2008 7:34pm
oolides is really gone ?
  • #32,404
  • Sep 19, 2008 7:38pm Sep 19, 2008 7:38pm
Quoting cobraforex
If it gaps I'm almost sure it does to the downside and acumen can buy his mountainbike with his 4 open position.
I need it to keep in shape.

I keep telling my wife that I am in shape... rounds a shape.

m
  • #32,405
  • Sep 19, 2008 7:42pm Sep 19, 2008 7:42pm
Quoting SunTrader
If you have a chart that has a gap from Friday close to Monday open (that is not news-related) I advise you to change brokers. It almost never happens.

At least with the broker I use and can bring up 1 minute data or tick data going back years and not find very many instances where this happened without it being due to some news event.
My broker is Interbankfx
  • #32,406
  • Sep 19, 2008 8:01pm Sep 19, 2008 8:01pm
Quoting SunTrader
If you have a chart that has a gap from Friday close to Monday open (that is not news-related) I advise you to change brokers. It almost never happens.

At least with the broker I use and can bring up 1 minute data or tick data going back years and not find very many instances where this happened without it being due to some news event.
OANDA is good for weekend gaps. Shows you when the movement occurred between Friday NY close and Monday (Aus time) Aussie open.

I also use FxPro, with them you have no idea what happens over the weekend as the platform is inactive during this time.
  • #32,407
  • Sep 19, 2008 8:33pm Sep 19, 2008 8:33pm
Quoting NuckingFuts
OANDA is good for weekend gaps. Shows you when the movement occurred between Friday NY close and Monday (Aus time) Aussie open.

I also use FxPro, with them you have no idea what happens over the weekend as the platform is inactive during this time.
I repeat, unless there is an unexpected news event, price opens very close to where it closed before the weekend, so whatever happens over the weekend typically is unimportant.

If price gaps and my broker is not open yet, why should I care. Chances there wouldn't be a setup in place with so little time for it to signal before the move already took place. Similar to FOMC announcement times, I would stand aside and wait for the dust to settle. No different if I was able to trade pre-Monday morning open. 5 Days a week X 24 hours is plenty.
  • #32,408
  • Sep 19, 2008 10:56pm Sep 19, 2008 10:56pm
Quoting SunTrader
5 Days a week X 24 hours is plenty.
5 days a week x 24 hours include the "pre-Monday" open (seems to be more but isn't)
  • #32,409
  • Sep 19, 2008 11:02pm Sep 19, 2008 11:02pm
Quoting cobraforex
Bemac is working on his unsquare designer bathroom but will finish soon

It's very dangerous to leave a trade open, most brokers ejecute the trade at open price and don't respect the SL, so if you have a 50 pips SL and the gap is 200 they take you the 200 pips.
Why in earth would brokers "respect" the sl ie, pay for your losses when price gaps?

Of course you have to pay if price gaps under/over your SL.
  • #32,410
  • Sep 19, 2008 11:22pm Sep 19, 2008 11:22pm
as far as IBFX is concerned, if it opens and there is a gap beyond your SL, your position will close immediately at MARKET prices
  • #32,411
  • Edited 12:52am Sep 20, 2008 12:37am | Edited 12:52am
as i guess

Stop loss for up trend is 14412 and best is 14356

but long term best is 14126

any one see what i guess
  • #32,412
  • Sep 20, 2008 2:11am Sep 20, 2008 2:11am
09/19 Close daily
http://i523.photobucket.com/albums/w.../EUR1909_1.png
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  • #32,413
  • Sep 20, 2008 5:57am Sep 20, 2008 5:57am
Quoting mikkom
Why in earth would brokers "respect" the sl ie, pay for your losses when price gaps?

Of course you have to pay if price gaps under/over your SL.
I'm so happy that you understood what I was saying, you are very clever.
  • #32,414
  • Sep 20, 2008 6:12am Sep 20, 2008 6:12am
Quoting Adwin
09/19 Close daily
Hi Adwin, your chart is very nice, my wife told me to print it out to put it somewhere because she likes the colors. But have you something to say about it, I mean something what could give us an idea why you post it?
I mean everybody of us has a chart service, paid or free but we have it and we know what is the close daily.
What you show is the past, any idea of the future?
  • #32,415
  • Sep 20, 2008 6:48am Sep 20, 2008 6:48am
I would like to hear your opinion about the possibility that shows my chart, everybody welcome, even saying bullsh$t or worthless or whatever but please with a reason.
Attached Image (click to enlarge)
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  • #32,416
  • Sep 20, 2008 6:52am Sep 20, 2008 6:52am
Quoting cobraforex
Hi Adwin, your chart is very nice, my wife told me to print it out to put it somewhere because she likes the colors. But have you something to say about it, I mean something what could give us an idea why you post it?
I mean everybody of us has a chart service, paid or free but we have it and we know what is the close daily.
What you show is the past, any idea of the future?
Hi Cobraforex! I want to speak to finiteness clinking talkative all the friends but My English language capital regret !

I parse market place techniques daily by Vietnamese: www.adwin.com.vn
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  • #32,417
  • Sep 20, 2008 7:24am Sep 20, 2008 7:24am
Quoting cobraforex
I would like to hear your opinion about the possibility that shows my chart, everybody welcome, even saying bullsh$t or worthless or whatever but please with a reason.
I don't do a lot of guessng about the market because (1) forex is so unpredictable and (2) it pays wherever it is if I'm watching the price action and following my plan. I usually do have opinions, but I seldom trade on them.

In this case, I really don't think the international community wants the EUR/USD up that high. I think they conspired together on 8/8/8 for intervention and I think they've done it once or twice since. The world expects - and needs - the USA to right their ship. If that happens, then the dollar will strenghten. My guess? We'll range 38-47 until either the USA fixes it or all hell breaks loose. If in the long term the USA fails to fix their problems, then EUR will take the lead. We've never seen that since pre-WWII, I guess.

All this said, bear in mind this is just what you asked for - my opinion with a reason. I don't know shxt; hence I trade only what I see.
Up or down, gimme a ticket
  • #32,418
  • Sep 20, 2008 7:56am Sep 20, 2008 7:56am
I really think there is room to argue that this 700 Billion dollar bailout is a crock of shit!

These bankers need to suck it up, IMO>
  • #32,419
  • Sep 20, 2008 8:00am Sep 20, 2008 8:00am
Quoting Adwin
Hi Cobraforex! I want to speak to finiteness clinking talkative all the friends but My English language capital regret !

I parse market place techniques daily by Vietnamese: www.adwin.com.vn
Sorry, I didn't notice that you from Vietnam (hope that you will be better on english soon), tried to get in your web page but now I'm more confused than before, let's leave it like it is till we get better comunication.
Sorry again.
  • #32,420
  • Sep 20, 2008 8:18am Sep 20, 2008 8:18am
A lot of folks keep referring to 8.8.8 in conspiracy-like tones. Here is an excerpt from news that day. And this was at the same time price was coming into a previously strong support area. Once that broke, hello 1.4xxx's.

Currencies and Economic News
In currency news, the dollar continued its gains against the euro. Late Thursday, the euro was trading at $1.5413 vs. $1.5473 on Wednesday.
The dollar's upswing brought it to its highest value in almost eight weeks.

The rise was fueled largely by concerns about European economic weakness rather than by strong U.S. data.

European Central Bank President Jean-Claude Trichet predicted that European economic growth would slow in the second half of 2008.

The ECB held interest rates at 4.25% in an effort to combat inflation, but this may further exacerbate its current economic slowdown.

"The market is entitled to be scaling back significantly amid further ECB tightening," stated David Simmons of Royal Bank of Scotland Group. "Policy makers will continue to focus on inflation, but some of the real economic data has been pretty grim. In my opinion, 2009 will include a European rate cut and a weak euro story.''

According to Kevin Edgeley of Goldman Sachs, if the euro were to drop below $1.53, it "would signal a longer-term dollar bull phase" and could result in a drop to $1.46.
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