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Cable Update (GBPUSD)

  • #337,141
  • Edited 3:59am Mar 18, 2013 3:42am | Edited 3:59am
GAPS

I'm sure most here are aware of "Gaps" and why they occur, but have you taken a look at the statistics and probabilities of the "gaps" being filled the same trading day?

Gaps in the forex market usually occur during the weekend between previous friday's close price and current monday's open price. The gap itself appears due to the fact that the forex market trades 24 hours, 7 days a week whilst most forex brokers are open for currency trading from Monday 0:00 am ET – Friday 4:00 pm ET. Thus on mondays, the broker needs to update its currency prices which may be different from friday's closing prices.

Type Of Forex Gaps

1) A bullish gap occurs when last friday's close price is lower than current monday's open price.
2) A bearish gap occurs when last friday's close price is higher than current monday's open price.

Case Study on Forex Gaps

The study on gaps in the forex market was conducted between 2002 and 2010, and examined over 25 currency pairs. The following table shows the best gap performers amid the 25 currency pairs.

Currency Pair% Forex Gaps Filled The Same Day
GBP/CAD - 88.60%
EUR/CAD - 82.70%
EUR/AUD - 81.60%
GBP/CHF - 78.75%
USD/CHF - 77.71%
AUD/JPY - 74.35%
GBP/USD - 72.18%
EUR/USD - 66.15%


GBP/USD: From 2002 through 2010: 72 % of the GBP/USD "gaps" were filled the same trading day!

Hope this helps!
  • #337,142
  • Mar 18, 2013 3:57am Mar 18, 2013 3:57am
1hr potential H&S - it's now or never ? (or is it ?)

G/L
ex member
  • #337,143
  • Edited 5:52am Mar 18, 2013 5:41am | Edited 5:52am
Quoting bbmac
1hr potential H&S - it's now or never ? (or is it ?)

G/L
May be and or to carry out to daily one . lets see if at last can validate , hope not! recent bailout jumps/spike probable though .

or be more different , top mofu H1 tf to up if at all possible !! last picture .
fontu
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbpusddaily.png Size: 29 KB
Click to Enlarge Name: gbpusddaily1.png Size: 30 KB
Click to Enlarge Name: gbpusdh1.png Size: 30 KB
Click to Enlarge Name: gbpusdh2.PNG Size: 32 KB
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #337,144
  • Mar 18, 2013 6:17am Mar 18, 2013 6:17am
time for a small long with a a target 1.5166. congestion at 1.530ish to clear first
  • #337,145
  • Mar 18, 2013 6:55am Mar 18, 2013 6:55am
Good Morning Traders!
Numbers NEVER Lie
  • #337,146
  • Mar 18, 2013 6:59am Mar 18, 2013 6:59am
This head and shoulders of the 1hr time frame is taking its time to fully form.
  • #337,147
  • Mar 18, 2013 7:01am Mar 18, 2013 7:01am
Quoting kamifx
One of the trader sent PM and told me 2 things:
1- My angle is not valid causes i didn't draw it correctly, and i say that's right but generally i can't trust this form of shoulders and now i show it in H1
2- There is engulfing Candle that again i can't trust it and i trust to candle form in Daily T/F
H4 T/F show in the long run it must go up but short time frames (right now) show weak down trend
Now i send another Pic. may it's better
Near 1.5106 Volume H1, M30 is Rising But H4 shows Declining
M1, M5, M30 show Declining
In this regards, we are facing consolidate Movement with Up Direction tendency again 1.5067/73 is the key for Breaking Low levels
1.5175 for Up direction

Scalping Trade

Short Position 1.5135/40 S/L=1.5145 T/P= near 1.5120
Long Position 1.5109 S/L=1.5098 T/P= near 1.5128
Don’t follow someone else’s trading advice blindly
  • #337,148
  • Mar 18, 2013 7:02am Mar 18, 2013 7:02am
Surprised Cyprus didnt move this too much
  • #337,149
  • Mar 18, 2013 7:05am Mar 18, 2013 7:05am
Quoting blobsaudio
This head and shoulders of the 1hr time frame is taking its time to fully form.

i am sorry but its making laugh actually. its like someone is intentionally toying with our nerves!! hehe
I still need a trading break soon!!! "Loose some to win more" --Baher A.
  • #337,150
  • Mar 18, 2013 7:07am Mar 18, 2013 7:07am
Quoting 100PipsADay
GAPS

I'm sure most here are aware of "Gaps" and why they occur, but have you taken a look at the statistics and probabilities of the "gaps" being filled the same trading day?

Gaps in the forex market usually occur during the weekend between previous friday's close price and current monday's open price. The gap itself appears due to the fact that the forex market trades 24 hours, 7 days a week whilst...
- Thanks, this study is really adding value.

- GL.
  • #337,151
  • Mar 18, 2013 7:18am Mar 18, 2013 7:18am
wow.. 5100 is really playing rough.. i wonder if bears will give up and everyone will start thinking lets go long and then Bang south..!!
I still need a trading break soon!!! "Loose some to win more" --Baher A.
  • #337,152
  • Mar 18, 2013 7:20am Mar 18, 2013 7:20am
it also seems that for the moment the price stuck under the 55ema on M15 too...
I still need a trading break soon!!! "Loose some to win more" --Baher A.
  • #337,153
  • Mar 18, 2013 7:35am Mar 18, 2013 7:35am
Quoting baherhosni
i am sorry but its making laugh actually. its like someone is intentionally toying with our nerves!! hehe
Ha ha.

Quoting baherhosni
wow.. 5100 is really playing rough.. i wonder if bears will give up and everyone will start thinking lets go long and then Bang south..!!
Other than 1.5100 being a round number, I place no importance at this area, although it is fairly close to an hourly zone and the pivot for today. Guess we will find out soon.
  • #337,154
  • Mar 18, 2013 7:40am Mar 18, 2013 7:40am
For me the important level is 1.5250. Waiting for that level to try a small short.
  • #337,155
  • Mar 18, 2013 8:31am Mar 18, 2013 8:31am
Quoting blobsaudio
Ha ha.



Other than 1.5100 being a round number, I place no importance at this area, although it is fairly close to an hourly zone and the pivot for today. Guess we will find out soon.
ok.. so taking another look at H1 and your comment here, isnt it starting to look like a continuation bullish flag?
I still need a trading break soon!!! "Loose some to win more" --Baher A.
  • #337,156
  • Mar 18, 2013 8:54am Mar 18, 2013 8:54am
Quoting baherhosni
ok.. so taking another look at H1 and your comment here, isnt it starting to look like a continuation bullish flag?
Personally I don't, not yet. Not until price breaks above the shoulder high. Price is still edging lower slowly but surely.
  • #337,157
  • Mar 18, 2013 9:57am Mar 18, 2013 9:57am
Quoting blobsaudio
Personally I don't, not yet. Not until price breaks above the shoulder high. Price is still edging lower slowly but surely.

lets keep watching then...
I still need a trading break soon!!! "Loose some to win more" --Baher A.
  • #337,158
  • Mar 18, 2013 10:00am Mar 18, 2013 10:00am
1.5050
  • #337,159
  • Mar 18, 2013 10:14am Mar 18, 2013 10:14am
Quoting Trader88q
1.5050
yeah! dont you think things are looking somewhat bearish too? those last two hours both found some good volume but still couldnt make a HH! but there is a lack of news today and that gives me the creeps sometimes...
I still need a trading break soon!!! "Loose some to win more" --Baher A.
  • #337,160
  • Mar 18, 2013 10:24am Mar 18, 2013 10:24am
BUY
If the price breaks through the level 1.51110 bullish movement will continue. Targets of the bullish movement: 1.51911.
SELL
If the price breaks through the level 1.49019 bearish movement will start. Targets of the bearish movement: 1.47503, 1.45988.
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