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14/01/21 17:51
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By Caseynotes · Posted
yeah, the long tails look false though note they are still there this morning. The FXCM chart via Tradingview won't be the actual broker client chart but cleaned up for the third party. There is often widened spread and spikey action at 22:00 as brokers switch from their normal liquidity providers to out of hours providers but not as much as is shown on the IG chart, not unusual though to see 1 large spike. see below the CMC chart for the same period, more in line with the IG chart than the Tradingview chart. maybe @CharlotteIG can check with tech and get the IG chart cleaned up. If they are false spikes they would not have triggered orders as prices are delivered to your account and to the chart maker at the same time not to the chart maker first then on to your account. -
By Caseynotes · Posted
Econ Calendar with links; Time Cur. Imp. Event Actual Forecast Previous Thursday, April 15, 2021 02:00 JPY BoJ Governor Kuroda Speaks 02:30 AUD Employment Change (Mar) 70.7K 35.0K 88.7K 02:30 AUD Full Employment Change (Mar) -20.8K 89.1K 02:30 AUD Unemployment Rate (Mar) 5.6% 5.7% 5.8% 07:00 EUR German CPI (MoM) (Mar) 0.5% 0.5% 0.7% 07:45 EUR French CPI (MoM) (Mar) 0.6% 0.0% 07:45 EUR French HICP (MoM) (Mar) 0.7% 0.0% 09:00 EUR Italian CPI (MoM) (Mar) 0.3% 1.1% 09:30 GBP BOE Credit Conditions Survey 13:30 USD Core Retail Sales (MoM) (Mar) 5.0% -2.7% 13:30 USD Initial Jobless Claims 700K 744K 13:30 USD NY Empire State Manufacturing Index (Apr) 19.50 17.40 13:30 USD Philadelphia Fed Manufacturing Index (Apr) 42.0 51.8 13:30 USD Philly Fed Employment (Apr) 30.1 13:30 USD Retail Sales (MoM) (Mar) 5.9% -3.0% 13:30 CAD Manufacturing Sales (MoM) (Feb) -1.0% 3.1% 14:00 RUB Central Bank reserves (USD) 574.8B 14:15 USD Industrial Production (YoY) (Mar) -4.25% 14:15 USD Industrial Production (MoM) (Mar) 2.8% -2.2% 15:00 USD Business Inventories (MoM) (Feb) 0.5% 0.3% 15:00 USD Retail Inventories Ex Auto (Feb) 1.2% 15:00 CHF SNB Gov Board Member Maechler Speaks 15:30 EUR German Buba Mauderer Speaks 16:30 USD FOMC Member Bostic Speaks 19:00 USD FOMC Member Daly Speaks 21:00 USD FOMC Member Mester Speaks 21:00 USD TIC Net Long-Term Transactions (Feb) 90.8B 23:30 NZD Business NZ PMI (Mar) 53.4 -
I havent traded EURGBP for a while so it may well be normal activity - maybe some sort of algo running between 22.00-22.30. For no apparent reason the spread moves to 12 pips wide (from 0.9) and swings erratically. Take a look at the IG 1 minute chart here with a corresponding chart from TradingView (FXCM feed but they were all the same) at the same time. The chart I share is 1m and mid price so with that in mind this action would have swept all stops above and below the high 8698 and 8686 by a further 6 pips so call it a 25 pip range of 8680 and 8705 it what was for all intents and purposes a quiet market (EURUSD had a 6 pip range at this time and GBPUSD had a 8 pip range) Luckily I saw it and pulled my stop and left in my Limit - need less to say my stop would have probably been hit at 80, and of course my Limit at 8700 whilst swept, was not triggered as the spread was 12 pips not the usual 0.9 pips. Very odd action - I can only assume algo driven - but definitely not in the interest of the trader...
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