Forex Gap Trade With Continuation

http://www.YourTradeRoom.com - This video explains the gap fill and continuation in the USDJPY pair which occurred July 7, 2010. The USDJPY opened lower (i.e. gapped down) than the prior day low of 87.34 and our gap trade setup was to go long at a break above the prior day low with an initial 20 pip stop loss. We got further confirmation from our Easytrader strategy with a long signal and went long at 87.36. Once the trade had a profit of 20 pips, we trailed our stop 1 pip below the 13 EMA (exponential moving average) until stopped out for a 88 pip profit.

Category:

Education

Tags:

• forex
• gap trade
• forex trading