Why "the gap" has to be filled?
It's another newbies myth to believe in a right holy grail system...
Gap is a gap, it happens often after weekend when your broker "opens" late when other brokers are already trading.
Nothing to be so excited.
Looking at the forex markets i keep wondering how euro can be up when an armada of warships floats around it, nobody sells oil to europe anymore and half of the countries are broke.
Ignored
There is no need to make sense of the headlines or so called "opinions". Look at your trades in unbiased way. See the trend, follow it and take proper positions. Be patience. No one can tell when price will move from point A to B. It may happen suddenly or take days. Thats not your job. Yours is to take proper position. Have exit route both for profit and loss. It is not a crime to be wrong. When you are close it.
There is no need to make sense of the headlines or so called "opinions". Look at your trades in unbiased way. See the trend, follow it and take proper positions. Be patience. No one can tell when price will move from point A to B. It may happen suddenly or take days. Thats not your job. Yours is to take proper position. Have exit route both for profit and loss. It is not a crime to be wrong. When you are close it.
Guys anyone knows when exactly the decision on Greece should be made ? i was off for a while and last i know was that it is supposed to be sometime today !!
Hi, I am very new in forex and I know you are a very experienced one, if you clearly tell me about the GAP filling that it will help me lot, I am familiar with the GAP, but my question is:- Does price really fill the GAPs?? Or it's just a sentiment?
The Sunday gap is just an illusion on a chart, it doesn't exist and certainly does not have to 'fill'. All it means is that between point a and point b your broker did not put any data out and that somewhere between point a and b in this case demand outstripped supply. That being the case there's 2 ways to play it. 1 is to fade the move back down to demand. The other is to wait for price to hit demand (if it indeed does) then look for fresh demand....or both, bearing in mind the supply that's already there from above. Both are post momentum plays and any fresh momentum will ultimately win the day.
If you were looking for shorts you should already have your first part position on. If you're looking for longs, wait.
I do not see how the euro can get out of this situation as a winner.
Ignored
That is exactly why this whole thing is dragging out. Greece is just the red herring in this thing.The problems go much deeper and spill into every corner of the "developed" world.
It's the simple things in life that have the most powerful meaning.
One of the hardest things in trading is to separate technical from fundamentals.
We can look at the Euro and think it is doomed (despite not being macro economic experts and cherry picking well or poorly formed media reports that support our own muddled view).
Many successful traders focus purely on the technical protecting themselves with risk and money management that are the lightning strikes of the news cycle. Equally, many traders play a longer game, where over several months they see x or y.
Be wary of thinking well the Euro (or indeed the USD) is goosed, look at the debt, the bad news etc etc, when technically in the next 4hours, 1day or 1week the trend is positive. You have to know what timeframe you are playing.
If you play a short time frame and let the trade run past sensible stop losses, you have just accidently become a fundamentalist who will now look for reasons to keep their trade alive.
