Fresh geopolitical concerns putting a dent in the HOPE scenario.
london red 14:20:51 GMT - 08/27/2014
fyi JP, end of week options pricing in a move of c. 50/60 points in euro.
london red 14:18:33 GMT - 08/27/2014
almost entirely, daily and hourly gaps tend to get done within the week they occured, particularly if its a weekend event. 1 or 2 in every hundred dont get done within the week. very similar to retracement theory in fact. they tend to be triggered on large market shifting data/events, which significantly alter market thinking and dont generate enough two way trade to warrant a gap close.
weekly gaps operate in the same manner but they feel different to us give the scope and reach of weekly trading bars and the time involved. it can take sometimes upto 30 trading bars for a gap to be filled. when talking weeks or months, it makes it difficult to trade. the shorter the timeframe, the more likely a gap will get filled.
Mtl JP 14:02:05 GMT - 08/27/2014
eurdlr close 1.3244 is from GVI Forex Database: Free Forex Historical Data for aug 22
GVI Forex Jay Meisler 13:58:07 GMT - 08/27/2014
JP, so you use the gap from Friday's close?
And if gap is not filled? Then what?
I use the gap to Friday's low (1.3221)
Mtl JP 13:54:31 GMT - 08/27/2014
Jay eurdlr 1.3244 print is an eventual certainty.
a rare event in FX
GVI Forex Jay Meisler 13:48:39 GMT - 08/27/2014
If EURUSD cannot get back above 1.32, gap stays unfilled and risk stays down - currently the magic "50" level (1.3150) blocks the downside
GVI Forex Jay Meisler 13:16:43 GMT - 08/27/2014
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EURUSD consolidating around 1.32 for 2nd day but risk remains for 1.3105 while below 1.3294. On upside, gaps still at 1.3221 (fri low) or 1.3245 (Fri close) depending on which gao you use. Still using 1.3180 (tested), 1.3150 and 1.3120 as ;potential supports in the absence of any meaningful levels until 1.3105.
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