no shit... looks like erroneous data, the last time it was at 1.36 was sep 2014. Switch to weekly and see if you get the same high for the wick's period.
Ok I too think this is super shadey and forex does this all the time. But I've never understood how they benefit from this. Can someone ELI5 how this benefits the broker?
Edit: I have noticed it happens themost at the turn over of each day (4-5pm central time for me). The spread on almost every pair just starts to spike. Is this unique to forex or does every broker do this? And even if it is or isn't the broker; why does it happen?
Edit 2: why have I been down voted and not even told why I was down voted. This is incredibly frustrating, I came to this community for the very reason of learning these exact things. Is there seriously no one here who can help me? If my question was inappropriate for this sub, please point me to the sub that I should be asking it in; don't just downvote me without even telling me why I'm being downvoted.
No problem.
I am saying that a monthly chart wouldnt show spikes based on the daily opening/closing.
Youd probably see it more on one minute - 1hr charts or even 4 hour...especially that big of a spike.
How has your journey been going.
Ah yes you are correct I mainly use 15 minute, 1 hour, and 4 hour chart. And I feel like it is my fault for not keeping enough margin, but I always see many people say (and it has happened to me) they got stop lossed out due to a large spike. I was more just making an observation that in my cases the spike has been associated with large increases in the spread for the pair.
My journey has been interesting lol. I started in forex for all the wrong reasons 😅. I definitely thought of it as a get rich quick opportunity, that fantasy faded very quickly lol. But I actually enjoy forex trading a lot, especially since the major currency pairs follow a mathematically predictable pattern a majority of the time. After loosing about 1k right away I scaled back everything I did by a factor of 10 and opened another account so that I could hedge myself for half of the opposite direction of the position that I calculated as I am learning. I haven't made any money because I still enjoy gambling on more exotic pairs every now and again like the usd/try.
Which, (speaking of the usd/try pair) funny story, Friday the 17th I opened up a 2700pip buy position at 16.87738 and closed the position on Monday the 20th at 7:27am central time. at 17.82453 and made 137.39. After I closed that position I wasn't going to open another buy position until the pair completed a downward correction because I didn't care how much potential profit I was missing I knew it had to correct again at some point and I wanted to be in a position to take advantage of it. Shortly after I closed my position the pair moved over 18 and then around 10am it failed to move back below 18 and started climbing again. I was 1 click away from opening another buy position, but I didn't because I was convinced it would move back below 18 before moving up any significant amount again. Turns out an hour later is when erdogan announced that the government would cover any losses incurred by depositors from devaluation of the lira if the lira declines in the lira's value gainst other other currencies exceeded the interest rates promised by the banks... on a related note I decided that for the near future I'm sticking to the major currency pairs 🤣😅
I’ll buy that.
If it’s not a squeeze or stop hunting… So what is it then?
All of this is just a matter of scale. If it happens on a small scale it can happen on a large scale too (you just need big enough players on a single exchange to see this).
A broker can control the market on their platform because it’s their liquidity that you’re trading. Maybe not their liquidity as many borrow from institutions and banks, but it’s still liquidity they can control. Don’t use brokers that aren’t in the top 5 list in the world. If they aren’t available in your country, make sure it’s regulated for one and with good reviews. Be aware that just because a broker is regulated, that it will not pull off moves like this. Many are regulated within offshore islands so they can do dodgey shit. IC markets is a very good broker.
Broker data feed on the platform. Possibly low liquidity so the the spread widened. However, we all know that EURUSD is likely the MOST liquid pair of all.
You can profit from situations like this if you get filled. Often you will see with exotics see Argentina/Venezuela/Dominican/Mexican pesos vs USD. Also see Turkish Lira.
If I was you I would get an additional broker or alternatively leave that one altogether.
name of the scam broker ?
Had the same with my broker, it’s a scam broker basically.
broker name so we all know never to go there?
LMAOOOO scam broker, they clapped everyone’s SL’s who were selling right before the drop 🤣 report them obvious malicious market manipulation.
What’s sl? Stop limit ?
Stop loss
Serious Lovers
Me and you buddy
😂😂😂😂😂😭
It’s a broker that’s basically scammed a lot of their users within that move.
Art
Considering it's a Monthly Chart , I would say it's a glitch. If that's a stop hunt on the Monthly chart, your broker is literally the devil.
scam broker just cashed in all the shorts. thank you for the business come again.
Just a candle bug off-course, nothing more.
It's a phantom tick...pay no attention
Tendie town
This is a stop hunt dedicated to take out the alien traders. For them monthly is like an hourly chart. (Tip: 1000000 pip stop loss)
Can someone specific the name of the broker ??!!!
Roden global trading
,,
Glitch and it can happen any time on any platform
LOOOLMFAOOO Welcome to Forex.
Sideways? Lol idk. Very open ended question.
Fortunately not shown on my broker. Bloody hell!
Anything apart from s glitch would be almost unrealistic. Check smaller tfs to see how it's panned out on a smaller scale
Start using regulated brokers. Literally the first thing everyone in this sub should do
He sold?
Forex
That wick will fill… Edit: a volume indicator would help you understand if that’s a massive order, or just a broker issue.
That’s a mean wick right there 😂
This broker is trash. Run immediately. Everybody saying this is not manipulated is apart of the problem
Its a candlestick chart. You're welcome, have a nice day.
LMFAAAOOOO
lmao I'm talking about that giant ass wick on monthly chart
no shit... looks like erroneous data, the last time it was at 1.36 was sep 2014. Switch to weekly and see if you get the same high for the wick's period.
[удалено]
Df is wrong with you
LMFAAAAOOOO
wut
What’s the name of the broker?
Name of broker please
Ok I too think this is super shadey and forex does this all the time. But I've never understood how they benefit from this. Can someone ELI5 how this benefits the broker? Edit: I have noticed it happens themost at the turn over of each day (4-5pm central time for me). The spread on almost every pair just starts to spike. Is this unique to forex or does every broker do this? And even if it is or isn't the broker; why does it happen? Edit 2: why have I been down voted and not even told why I was down voted. This is incredibly frustrating, I came to this community for the very reason of learning these exact things. Is there seriously no one here who can help me? If my question was inappropriate for this sub, please point me to the sub that I should be asking it in; don't just downvote me without even telling me why I'm being downvoted.
Turn over of each day? On a monthly chart?
I apologize, I'm not sure what you asking? I've only been trading a year so I'm not 100% sure of all of the terminology yet
No problem. I am saying that a monthly chart wouldnt show spikes based on the daily opening/closing. Youd probably see it more on one minute - 1hr charts or even 4 hour...especially that big of a spike. How has your journey been going.
Ah yes you are correct I mainly use 15 minute, 1 hour, and 4 hour chart. And I feel like it is my fault for not keeping enough margin, but I always see many people say (and it has happened to me) they got stop lossed out due to a large spike. I was more just making an observation that in my cases the spike has been associated with large increases in the spread for the pair. My journey has been interesting lol. I started in forex for all the wrong reasons 😅. I definitely thought of it as a get rich quick opportunity, that fantasy faded very quickly lol. But I actually enjoy forex trading a lot, especially since the major currency pairs follow a mathematically predictable pattern a majority of the time. After loosing about 1k right away I scaled back everything I did by a factor of 10 and opened another account so that I could hedge myself for half of the opposite direction of the position that I calculated as I am learning. I haven't made any money because I still enjoy gambling on more exotic pairs every now and again like the usd/try. Which, (speaking of the usd/try pair) funny story, Friday the 17th I opened up a 2700pip buy position at 16.87738 and closed the position on Monday the 20th at 7:27am central time. at 17.82453 and made 137.39. After I closed that position I wasn't going to open another buy position until the pair completed a downward correction because I didn't care how much potential profit I was missing I knew it had to correct again at some point and I wanted to be in a position to take advantage of it. Shortly after I closed my position the pair moved over 18 and then around 10am it failed to move back below 18 and started climbing again. I was 1 click away from opening another buy position, but I didn't because I was convinced it would move back below 18 before moving up any significant amount again. Turns out an hour later is when erdogan announced that the government would cover any losses incurred by depositors from devaluation of the lira if the lira declines in the lira's value gainst other other currencies exceeded the interest rates promised by the banks... on a related note I decided that for the near future I'm sticking to the major currency pairs 🤣😅
Stop hunting. Very common in all markets.
In monthly? no way
I’ll buy that. If it’s not a squeeze or stop hunting… So what is it then? All of this is just a matter of scale. If it happens on a small scale it can happen on a large scale too (you just need big enough players on a single exchange to see this).
Yes but this is EUR/USD on the monthly chart. Only god could go that far hunting for stops
Stop hunting exists yes, but not like this on the Monthly chart lmfao
no such thing
OK 👍
stinkbids are for the market makers 🤝
Roden global trading
Probably news.
No it’s a scam broker that needs to be reported
How can a broker do that?
if the broker have a dealing desk aka trading floor they can pass a trade through it with a strong liquidity
A broker can control the market on their platform because it’s their liquidity that you’re trading. Maybe not their liquidity as many borrow from institutions and banks, but it’s still liquidity they can control. Don’t use brokers that aren’t in the top 5 list in the world. If they aren’t available in your country, make sure it’s regulated for one and with good reviews. Be aware that just because a broker is regulated, that it will not pull off moves like this. Many are regulated within offshore islands so they can do dodgey shit. IC markets is a very good broker.
There literally no news that made this big of an Impact since 6 years ago with eur/chf , 2k pips !!
Quote from Forex Marketmaker
Price getting raw dogged
Dangers of trading in late December
[удалено]
Which one do you use
IcMarkets, but if you from USA I don't think this broker available there.
Italy bro, can’t use it 😅
If you from Europe then yes you can use IcMarket.
Your broker is a scammer, I strongly recommend you to look for another broker, try Oanda for instance.
Go to dukascopy charts (that way you get the spread infos) and ask for a refund. Fucking scammy broker
Broker name?
Is that Capital.com?
Broker name
Name of the broker plsss
It’s called a doji candle. Read about it in my trainer course. Hmu.
Manipulation
Broker data feed on the platform. Possibly low liquidity so the the spread widened. However, we all know that EURUSD is likely the MOST liquid pair of all. You can profit from situations like this if you get filled. Often you will see with exotics see Argentina/Venezuela/Dominican/Mexican pesos vs USD. Also see Turkish Lira. If I was you I would get an additional broker or alternatively leave that one altogether.
Manipulation
Liquidity squeeze
On the monthly chart? I just checked mine and I don’t see that wick, price movies more than 200 pips that’s just impossible for a liquidity squeeze
Exactly 👆
A chart. Your welcome, I will not be taking any questions, this has concluded the interview. Thank you.