EUR/USD 15M 11:20PM
the forex trading coach sees that …. Almost every sunday opening now has a big opening gap. This sunday was no different. Almost always the gaps will fill in giving you the opportunity for profit. The tough part is knowing when to trade toward the gap and when the retracement will happen. In this chart you can see your options. There were several fake outs before this one took off to the down side.
forex coach update 8/27/10 Often we have an over reaction to big news releases. These news gaps can be traded just like opening sunday gaps. They are much more likely to be profitable when the news spike is against a dominant trend.
Go back you through your charts and check how many news gaps you can see. Check to see how often they retrace when the go against the trend verses with the trend. Study your charts and you will get a feel for those forex news gap tades that are like to reverse. You will get a feeling for how they reverse. Often you will see a double top. Sometimes you will have a chance to get in on one of the first waves down.
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