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A gap trade example 18 June 2012 : $AUDJPY

by Gav 3 Comments

I have stopped posting my trade long time ago for various reasons. Anyway, I thought I might throw in an example today to show how I trade gap. In fact, I am not really sure if �I can call this a gap fill strategy, as it is basically a simple support/resistance trade. After all, everything comes back to your level. Define your level, and plan a trade around that. That’s what I am doing.

Here is 5-minute chart of AUDJPY. �There were quite a number of FX pairs with Sunday gaps this week, I picked this pair as it was showing me the cleanest setup at the time I was back to my workstation. I waited for the pair to retest the 5-min level, and put the target at the gap opening , the end result gave me slightly more than 2R.

$AUDJPY M5

Filed Under: blogs, Support Resistance, Trading Journal Tagged With: AUDJPY, gap trade, Key Levels

Reader Interactions

Comments

  1. Garion says

    at 1:25 am

    Nice Trade.  It doesn’t look like you really use it, but can I ask what indicator you use there that prints the arrows?

    Reply
    • Gav says

      at 8:45 am

      There isn’t any indicator. The arrows are from drawing tools of the platform.

      Reply
  2. Trading Market Online says

    at 8:55 am

    Great trade. Unfortunately not all gaps are filled like this one. To be more cautious profit can be taken at the half of the gap.

    Reply

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My Name is Gav.
I am a Father, Husband, Trader, And Blogger. A serious coffee addict. I started training since 2005, mainly on FX and Futures.

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