What time did you check? My check was 10 sec after reappearance of signal and I noted it on the move upward. This is why I say to be on station and close at immediate signal return. I'm not sure what the numbers mean but, using the cross hair to measure, showed "163" as the 2nd set. BTW, what do the numbers mean? Points, pips or dollars?
Weekend Gaps
- Thread starter angelnish
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I don't quite understand which numbers you are talking about. What I did is compare the Friday close with Monday open.
I placed the cross hair tool on the low of Friday's close and drug the pointer to the Sunday signal beginning. I saw that the 2rd number set said "163." What am I doing wrong? Reading the wrong number set? When you drag the point, it displays 3 sets of numbers. I was under the impression I was to use the middle set. A lot happened between Sunday's return of signal and "Monday's open." Hours passed. My Gap trades are only active fron 1 min prior to loss of signal on Friday til acquisition of signal on Sunday, within the first 30 seconds. Why wait til Monday?
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Why on the low and not on the close?
Do you have 5 digits after dot or 4? If 5, then that is 16.3 pips (or $163 for 1 standard lot contract) - not that big difference with gap on my chart.
Nothing is wrong, you are doing it right.
Either we are speaking about different "Sundays" and "Mondays" - mine is UTC+3, or your broker is providing you with a really early market opening opportunity.
I'm talking/using real time, local time. Why on the low and not on the close? That candle hadn't closed before loss of signal. I work in local time moments. I don't use UTC, or Metric. I'm just a dumb "Gringo." LOL And, yes, I trade 1 lot sizes.
From the bottom of the upper candle body, not the wick, to the top of the lower candle body. However, we didn't make the trade so I had no order to close (seconds). So, I had the cross hair tool energized and when the first candle formed, I drew it.
I just finished updating the indicators. Currency Index is showing 6 bars of strength on the EUR and 7 bars of weakness with JPY on the D1 grouping. Trend Scanner shows "neutral." So far, it looks like a possible Gap via a SELL order on EURJPY. I'll recheck at 3pm, CDT, local time and repost.
This is why you recheck your prelim decision. Now, it's +6 for EUR and -7 for USD so I'll open a SELL order on EURUSD. There's still no Trend indication so I base trade on strength/weakness alone.
Since I've been trading Silver all week, I checked the Gap history using the FXI-Gap indicator and noticed that Silver, if it does gap, always gaps in a particular way. Since end of signal will find Silver in an UP Trend, I'll open a SELL order prior to LOS. Maybe it will, maybe it wont. However, I intend to find out. I'll let ya know Sunday afternoon. This Is A Test. LOL
In a nutshell, yes. At least, that's what the indicator shows. I saw trend was UP yesterday so I opened a SELL order. This is only to prove/disprove what the indicator showed. We'll know this time tomorrow.
Here's the Gap indicator. See for yourself. Works best on higher TFs.
Here's the Gap indicator. See for yourself. Works best on higher TFs.
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The attached indicator just shows the existing gaps on chart, it doesn't forecast them, right?
As I understand it, there is NO forecasting tool yet in Forex. Yes, it's noting past gaps, not future ones.
It would seem there's no trading going on on Sunday. Rechecking the Gap indicator, I see the actual gap will possibly occur tomorrow as trade opens. I'll leave my WE Gap trade open until I see movement. Silver seems to gap fairly regularly. Just gotta pinpoint "when" now. By going through the pairs, I see a large majority of AUD pairs gapped nicely down.
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I closed my WE Gap trade a few moments ago (Mon. morning) ...@ $2750.00 profit. Still trading 1.0 lots on H4 TF. I've since opened another SELL to take it's place. Alan, anything I'm involved in is usually "outside the box" stuff. LOL However, if it didn't work, I wouldn't be mentioning it.
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Looks like almost everything gapped this past weekend. And I didn't have a trade running. However, analyzing the pairs that gapped and noting direction, I rechecked the Currency Index Indicator from Friday and now have a better understanding of gap possibilities and direction of said gap. I learned something new, therefore, I won.
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