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Forex market closing vs opening gap trading strategy
Weekly Opening Date & Time: Monday, 3.00 AM (GMT+6.00)
Weekly Closing Date & Time: Friday , 3.00 AM(GMT+6.00)
Example :
Market close in the date of Friday, 30th September 2016. In the date of GBP/JPY pair closing price at 131.43 and High at 131.44 and low price at 131.43 in H1 time frame. Next week market open in Monday, 3rd October 2016. In Monday market open and GBP/JPY price is gap down opening price at 130.68 and high at 131.15 and low at 130.66
Order No-1 : ‘buy stop’ pending order at “131.44+7 pips+ spreads” ( Friday closing candle’s High price + spread).Take profit :50 pips.
Order No-2 : ‘sell stop’ pending order at “130.66+7 pips +spread” ( Monday’s opening candle low price + spread).Take profit :50 pips.
Result : Profit confirm without any risk and drawdown.