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GBP/JPY Opens with a Novice Gap

Posted on November 1, 2009 at 22:41 in From My Trading Desk by Ryan O'Keefe

Howdy Folks,

Opening gaps do not happen as often in the spot market as they do in exchange based markets but occasionally the Sunday open can hand us a nice trading opportunity. I think the best presentation I’ve seen on trading gaps in the spot market was done by Sam Seiden at FXStreet.com titled Professional Gaps vs. Novice Gaps in the Forex Market. If you would like to know the difference between a “novice” gap and a “professional” gap I encourage you to watch Sam’s presentation:

http://transcripts.fxstreet.com/2009/02/professional-gaps-vs-novice-gaps-in-the-forex-markets.html

This novice gap has offered approximately 100 pips since it formed one hour after the Sunday open.

Best of luck this week,

Ryan

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