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Indicators Modifying


BobbyBBad

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    • 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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