how to gap trade forex successfully

eurusd chart recently. Some traders assume that it will act as an area of support or resistance and that price will continue to move in the direction of the gap. 30 Comments, hey Guys, This Sunday EUR/USD opened.3011, 71 pips below last weeks close.3082. When a new week starts look if there is a gap. There are other ways to do it, but these are the most commonly taught methods. Forex gaps are not very common and they usually only occur at market open on Sundays. So if your target is 100 pips away from your entry, you would set your stop loss at 50 pips. The method you choose will depend on the pair you are trading and what your testing has told you works the best.

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how to gap trade forex successfully

How to gap trade forex successfully
how to gap trade forex successfully

Gaps are empty spaces between the close of one candle and the open of the next. So even though gaps are almost always filled trading gaps in not always viable. Gap trading can be an effective trading strategy that you can add to your arsenal. The last gap gives a wrong signal and yields a medium loss. Pull up the closing price for.m. It's not recommended to use this strategy on the real account without testing it on demo first. Always take into account current economic and geopolitical conditions, as well as upcoming news announcements. A gap should be at least 5 times the average spread for the pair. Select a currency pair with a relatively high level of volatility. As you can see the gaps were fairly significant. I'm going to skip the normal, definitions that you can read on any other website. . Fill, the most common way to trade a gap is to assume that it will get filled at some point.

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