Cable implodes - flash crash in the pound | Forex Factory

Cable implodes - flash crash in the pound | Forex Factory

Cable implodes - flash crash in the pound

From forexlive.com

GBP/USD hits a 700 pip air pocket It's madness in the markets as the bottom falls out of the pound. The bids have been pulled with no buyers on the downside as the Brexit trade capitulates. A lot of times something like this is a bottom but all those politicians who patted themselves on the back for avoiding disorderly markets after the vote better have another look. We haven't seen this kind of move a major currency on no news (at least I think there's no news) in a long time.

Comments / Top
Subscribe

Oct 10, 2016 6:19am

Heres a story guys you should think on when you listen to @Mingarys advice...

"A Tourist fisherman starts fishing in a Pool.
Soon a local kid on way to school passes
Fisherman asks "Is this good place for fish?"
Kid says Yes. full of fish!
6 hours later guys caught NOTHING??
So when Kid passes back he says ..
"Hey thought U said this pool was FULL of fish??"
Kid say "YES. Must be. Never seen anyone take any of them out."

Cable 1.40 ? Your Onetouch option quote? NADA LoL

1

Oct 6, 2016 6:27pm

I noticed sometime on the tick chart at 00:00 CET. http://puu.sh/rA8nd/32b2e08512.png

And tried to warn some fellows on skype:
[00:06:22] TheRealDeal: Will Crash
[00:17:23] TheRealDeal: 3tick chart
[00:17:36] TheRealDeal: See from 00:00 to 00:03 they did it
[00:29:01] TheRealDeal: So first 2 minutes 340 ticks. 3th minute 70 ticks, 4th 34 ticks. And then nothing until minute 9, few ticks until minutes 14.

Oct 6, 2016 8:00pm

This was the predicted price on the GJ daily as given by an ABC triangle.

A ( Apex)was on the 9th Sept
B (Bottom)was on the 27th Sept
C (Convergence of AB)

Target price is the vertical distance of AB from the breakout point of the BC line.

Though it hit the target to the pip the surprise was the speed of execution. This suggest someone hit the button too fast and we may go back down to this level in a more orderly fashion.

I would not be considering longs for some time yet.

Oct 6, 2016 8:14pm

Quoting psychop13

Disliked

Broker have double standard in slippage. I sell GJ at 131 and FXCM filled my TP order exactly at 130,no slippage at all. But others..have a lot negative slippage in their SL order...

Ignored

Because it's market maker. Bucket shop

They have to execute - they are counter party, not free market.

Sorry for the brave people who bought this.... Can't say i didn't offer warning for weeks.

Oct 6, 2016 10:26pm

Quoting cugir321

Disliked

Up to about an 1hr ago you could trade the 1 min......it was moving 50 pips a leg. Shoot most candles were 15 to 20 pips two hours ago. Some were 30. It's been a while since I've seen movement like that on the 1 min.

Ignored

u would be joking

Oct 7, 2016 1:04am

Quoting Mingary

Disliked

With this last move; now the retail herd and every trader joe and his cousin are "aware" that the pound is in a down trend and this was a good opportunity to get in. "follow the trend, i.e sell low, buy high". In their view, and the media's and their "trading advisor' (guru, system etc ..) The advice and signals are SELL, SELL, SELL.
When your taxi driver tells you that "the pound is crashing" then it's time to BUY, BUY, BUY.

Ignored

Oct 7, 2016 1:31am

Quoting MikeDNC

Disliked

Why?

Ignored

178594566 2016.10.07 05:46:25 buy 1.00 gbpusd 1.24424 0.00000 1.25532 2016.10.07 08:27:57 1.24642 0.00 0.00 0.00 $218.00

because they dont want people to make money lol

Oct 7, 2016 3:12am

Quoting Ghassforex

Disliked

Hello Dude you was correct 100% . It was a knife falling down my position long @ 1.2790 today by intuition i hedge short @ 1.2605 now i am confuse about trend decision to take off my hedge . Any advice ? Idea ?

Ignored

Yes
Stay out for a week. Wait for double bottom. May buy, but I'd wait and sell after next retrace up.

Quoting Manudatinh

Disliked

Sorry Folks, he meant to drive the pair down 70 pips, however, there was a typo in his sell order, which is one extra zero in front of decimal place and turn out to be 700 pips. The fela is in a deep shit now.
We apologize for any inconvenience you've experienced. Happy trading!

Ignored

I was thinking about the same.

jokes ofcourse but a little bit truthful.
Stay safe

Oct 7, 2016 8:35pm

Quoting ptcuk

Disliked

The BBC have a good article about the crash this morning

http://www.bbc.co.uk/news/business-37582150

Ignored

"Analysts at HSBC are forecasting that the pound could fall to $1.10 and could be worth just one euro by the end of next year."
Same idiots predicting Euro parity with USD not so distant past.
It won't surprise me sharp up moves on pound pairs because of some special deal worked out or even rumor.If everyone is bear that's when opposite likely to happen.Sharp up thrust to 1.30? Yes possible

Oct 8, 2016 2:40am

Quoting TheRealDeal

Disliked

If somebody is surprised by this, you probably have traded DEMO for too long

Ignored

Exactly, stop the blame game.

There was nothing unusual at all here just you guys and the media trying to grab headlines.

Oct 6, 2016 10:22pm — Edited

Bonjour French President he collapsed GBPXX crazily with his comment will punish UK on brexit

pound crash broker widened spreads to 600-700pip and froze terminal made decent pips i couldn't get the move to 1.20 tradable

Oct 7, 2016 1:02am

With this last move; now the retail herd and every trader joe and his cousin are "aware" that the pound is in a down trend and this was a good opportunity to get in. "follow the trend, i.e sell low, buy high". In their view, and the media's and their "trading advisor' (guru, system etc ..) The advice and signals are SELL, SELL, SELL.
When your taxi driver tells you that "the pound is crashing" then it's time to BUY, BUY, BUY.

Oct 7, 2016 1:30am

Quoting allex82

Disliked

This was a calculated response from the global elite (Bilderberg) for the brexit vote.This is just the begining. They are showing what can happen if a country refuses the globalization agenda.

Ignored

Sorry, but we are not responsible for this one.

Oct 9, 2016 6:56am

Quoting datdle

Disliked

Please is there anyones can tell me: what is reason for this drop is ?

Ignored

The market will always move in the direction that causes the greatest financial damage to the greatest number of accounts.

Oct 9, 2016 11:49pm

Quoting cliffedwards

Disliked

So everyone was LONG Cable? Bullish Cable?
Explain please?

Ignored

Yes, long cable.
Now watch as the forex retail herd now realizes that the trend must be down and they start shorting the pound all the way to 1.40
The forex herd always migrates from one losing position to the next.

Oct 10, 2016 5:49am

Quoting cliffedwards

Disliked

So you believe Cables going to 1.40? Or you just blowing smoke up everyones ass here?
Lets pretend youre not. So give us all a option price on 1.40 onetouch expiring Sept 2017?

Ignored

So you believe Cables going to 1.40? YES

Every joe and his cousin are short the pound.
Because BREXIT is so bad ... so says EVERYBODY.
There is only one way to go and it's UP, all the muppets now believe there is more to go on the downside because the taxi driver and the hair dresser said so but especially my dentist is short the pound... and dentists are rich, better do what he says.

Oct 11, 2016 12:23am

Quoting cliffedwards

Disliked

Heres a story guys you should think on when you listen to @Mingarys advice...

"A Tourist fisherman starts fishing in a Pool.
Soon a local kid on way to school passes
Fisherman asks "Is this good place for fish?"
Kid says Yes. full of fish!
6 hours later guys caught NOTHING??
So when Kid passes back he says ..
"Hey thought U said this pool was FULL of fish??"
Kid say "YES. Must be. Never seen anyone take any of them out."

Cable 1.40 ? Your Onetouch option quote? NADA LoL

Ignored

Good grief... I do hope no one is following / taking any advice from me.
One of the worst kind of vice is "advice"

Oct 6, 2016 10:10pm

Half my trades hit sl and half hit TP. Fortunately I trade diversified portfolio with a 2.5:1 reward to risk ratio, so did ok. Reduced risk (a lot) now. No new trades in this session. Waiting for fat fingered Asian traders to get off work.

Oct 7, 2016 3:15am

Quoting Guest

Disliked

.... French President Francois Hollande said on Thursday ..... "Britain wants to leave, but doesn't want to pay. That's not possible," Hollande said in a speech at the Jacques Delors Institute in Paris.

Ignored

Sounding more and more like the Mafia

Oct 7, 2016 8:30am

Quoting Evestinforex

Hidden

really?
what your robot did during that flash crash?

Oct 7, 2016 8:55am

Quoting Anusragger

Disliked

You believe stops were executed/respected during this chaos?

Ignored

...depends which broker you use. A decent broker would have filled with some slippage. However if there really were no buyers (see headline article) the slippage might have been large.

Oct 8, 2016 11:07pm

Quoting PaulDaemon

Disliked

The charts are the charts it dont matter if you are a central bank a fund manager large corporation or a retail trader. we all see the same thing.
Its all the same.

Ignored

yes the charts are the charts but the situation is very different for a retail trader and a broker , in this case even the people that have had short positions came out with loss because increase of spreads to 120 and even 600 pips ( i heard it in some posts) and also freezing platforms and requotes!
this flash was a two side winning game for brokers and heavy loss for traders.

Oct 9, 2016 7:26am

Quoting cliffedwards

Disliked

So everyone was LONG Cable? Bullish Cable?
Explain please?

Ignored

It was crazy how many people were long on the pound. I warned people in some chats who longed it last week that it's technically and fundamentally in a serious downtrend and it's stupid to counter trend it but yeah...

Oct 9, 2016 12:45pm

Quoting Ghassforex

Disliked

They was long for a logic reason (I am 1 of them) that after Brexit vote GBP/USD play horizontal margin high 1.3475 low 1.2960 ( around 3 months) pause waiting to affected article 50 And always after good UK datas pound bounce from low to high ( several times ) so before that crash down trend GBP was at low margin many enter long position .

Ignored

1) I'm sorry that you got caught on that 2) Yeah I see...but damn, the break of 1.28 was in my humble opinion a very strong sign that this might get ugly.

Oct 9, 2016 9:06pm

Quoting Guest

Disliked

Shouldn't some trades be cancelled if down to a fat finger? I was long GBP to USD at 15 points with a stop at 12560 not guaranteed but positions closed at 12000

Ignored

You can claim it back from your broker as far as I have recalled

Oct 10, 2016 6:40am

Quoting Mingary

Disliked

So you believe Cables going to 1.40? YES

Every joe and his cousin are short the pound.
Because BREXIT is so bad ... so says EVERYBODY.
There is only one way to go and it's UP, all the muppets now believe there is more to go on the downside because the taxi driver and the hair dresser said so but especially my dentist is short the pound... and dentists are rich, better do what he says.

Ignored

...not only that, those dentists have part-time jobs at the Giant Squid.

Oct 9, 2016 2:57am

I've been bearish on GBP/USD the few days even before this happened. I've made +176, +127 and +84. Guess I was lucky. I saw a news saying it's been a 31 year low for the GBP/USD. I can only wonder what is really happening here.

Oct 7, 2016 2:47am

Quoting allex82

Disliked

This was a calculated response from the global elite (Bilderberg) for the brexit vote.This is just the begining. They are showing what can happen if a country refuses the globalization agenda.

Ignored

someone forgot his tinfoil hat and his pills today

Oct 6, 2016 8:37pm

“It looks like it was a algorithm-driven flash crash triggered by a Financial Times article based on French President Hollande’s speech on Brexit,” said Angus Nicholson, a markets analyst in Melbourne at IG Ltd. “Given low volumes in the Asian session, it would have forced other algorithms to join in and magnify the fall.”

only this makes sense if you understand how algos trade the markets.
short on all GBP pairs at the same time, those were news algos.

Oct 6, 2016 9:16pm

Low liquidity + maybe some fat finger covering position + HFT algos = Black swan

The only protection from it is conservative risk management (being able to sustain 1000 or more pips spike) and not scalping at low liquidity times when high leverage can blow your account.

Oct 6, 2016 6:19pm

Quoting mrhigurashi

Disliked

fantastic move... i just went to the bath room and boom! Its obviously something not right hear, its shooting back up again. someone playing games....

Ignored

Big fat miscalculations?!?

Obvious stop hunt & large order filling for a move in the opposite side???

Oct 6, 2016 6:26pm

Quoting natthapol.v

Disliked

I checked the volume, and it seems that someone with fat money just thrown exactly 100 Lot order in there

Ignored

100 lot orders??? Are you kidding me dude???

100 lots are like a drop in the ocean here

Also,FYI there is no central volume for FX.What you see is what your broker has in the level 1, maybe 2 books

Oct 6, 2016 6:33pm

Quoting cugir321

Disliked

Yea must be....it's called crying momma.....another attempt to steal from the trader. If you're seeing a 900 pip drop than forex.com shut the system down on G/J. The forex mob at work again.

Ignored

I heard Oanda did the same with Eur/Gbp.
Expected move from market makers

Oct 6, 2016 6:57pm

Quoting onlytrading

Disliked

I was short and couldnt close as broker froze online trading and didnt answer their phone. I had to watch as all my profit retraced. About 600pips . I feel bad but I really feel for any longs.

Ignored

Onda??

Now you know it's time to change your buck shop and look for a decent broker

Oct 6, 2016 7:03pm

from the Monday I was chasing the pound for this moment.i had 2 positions,buy&sell...
finally my b position closed at 1.2580 and I closed my sell position at 1.2270

I was chasing it for a scalp.honesty I didn`t expect more than a hundred pips.
I tried hard to convince my clients to not to buy from the last week but they didn`t care...
I told them if the market sees the 1.2800 this time,you are witness a free fall.
I'm so sad now because they manipulate the prices and too many people lost their capitals without a reason.

this is not my first time that I'm seeing such a moves from the last decade and won`t be the last.
the reason of this freefall is only manipulation.i`m sad even that i had a sell position from the last week.
it`s not a fair game...for god`s sake do not trade

Oct 6, 2016 8:32pm

Quoting Not-KPMG

Disliked

Because it's market maker. Bucket shop
They have to execute - they are counter party, not free market.

Sorry for the brave people who bought this.... Can't say i didn't offer warning for weeks.

Ignored

That doesn't make them a bucket shop

If you check G/J weekly charts you will see that there are recent demand/resistance levels from 2012 http://prnt.sc/cqrvb3 compared to gbp usd which hit 3 decades low

Oct 10, 2016 5:54am

Quoting Mingary

Disliked

So you believe Cables going to 1.40? YES

Every joe and his cousin are short the pound.
Because BREXIT is so bad ... so says EVERYBODY.
There is only one way to go and it's UP, all the muppets now believe there is more to go on the downside because the taxi driver and the hair dresser said so but especially my dentist is short the pound... and dentists are rich, better do what he says.

Ignored

10/10

Oct 6, 2016 6:33pm

Quoting cugir321

Disliked

Did they just shut G/J down....dropped 220 pips in 5 seconds and stopped.....not moving at all. It's like it kicked a breaker.

Ignored

It did. But if you were watching market through a ecn you'd notice price kept falling way lower.

Oct 7, 2016 3:35am

The BBC are saying:

"The pound has dived on Asian markets with automated trading being blamed for the volatility."

http://www.bbc.co.uk/news/business-37582150

Seems like someone or something dumped a load of GBP

Wouldn't surprise me this was deliberate manipulation

Oct 7, 2016 4:28am

Quoting cliffedwards

Disliked

This CLUSTER-FKUC has been brought to you by BREXIT.
Starring Boris/Gove/Farage and a cast of 15,188,406.

Ignored

Yes sir indeed, probably one of the most well planned financial schemes in our times !!!

Oct 7, 2016 6:24am

Quoting cliffedwards

Disliked

WELL PLANNED?

Oh its ALL a giant global Conspiracy? NOT!

NO. Its a really BAD decision made by "the People" who were CONNED by the lies and scam claims by a bunch of SCOUNDRELS like Farage Johnson and Gove.

Ignored

Big boys did hundred of millions in one day, Farage resigns after spitting all that crap for ages saying that his "mission was complete"... you can call it conspiracy or whatever you want its all about the dough in the end...

Oct 7, 2016 1:41am

Quoting PaulDaemon

Disliked

What we have to analyze here is the volume.
Very low volume on the crash and very high volume on the recovery.
http://www.forextradingforprofit.com...crashes-brexit
This could be the flip side for the pound and quite possible we wont see new lows for a very long time.

Ignored

volume in FX is a sum of price change, not the amount of currency, so your "high volume" on recovery is just a product of counter orders being sent to offset the crash

Oct 6, 2016 6:17pm

fantastic move... i just went to the bath room and boom! Its obviously something not right hear, its shooting back up again. someone playing games.... Even if you had a sell order on that, im sure from reading other post most people seemed to have a bullish outlook on the pound so im sure lots of unhappy people when they wake up today.

Oct 6, 2016 9:07pm

Quoting Not-KPMG

Disliked

Because it's market maker. Bucket shop
They have to execute - they are counter party, not free market.

Sorry for the brave people who bought this.... Can't say i didn't offer warning for weeks.

Ignored

Hello Dude you was correct 100% . It was a knife falling down my position long @ 1.2790 today by intuition i hedge short @ 1.2605 now i am confuse about trend decision to take off my hedge . Any advice ? Idea ?

Oct 6, 2016 9:27pm

Quoting Valerka

Disliked

I said today stay out of GBP,XAU,JPY....SL all ower the world

Ignored

Hello Dude you was correct 100% . It was a knife falling down my position long @ 1.2790 today by intuition i hedge short @ 1.2605 now i am confuse about trend decision to take off my hedge . Any advice ? Idea ?

Oct 6, 2016 9:39pm

Sorry Folks, he meant to drive the pair down 70 pips, however, there was a typo in his sell order, which is one extra zero in front of decimal place and turn out to be 700 pips. The fela is in a deep shit now.
We apologize for any inconvenience you've experienced. Happy trading!

Oct 7, 2016 3:51am

Quoting skymania

Disliked

because i had 2 positions opened on gbpjpy, 1 long and 1 short, and they should survive this. BUT, my broker for unknown reason closed my short postion at price 127.80(i had no SL set), so the long one made margin call on my account a couple of 100 pips lower. If they closed they should closed both at the same price or none at all ffs. Thats why I call it a scam...

Ignored

What was the spread when that spike happened ?

Oct 7, 2016 4:19am

Quoting cliffedwards

Disliked

This CLUSTER-FKUC has been brought to you by BREXIT.
Starring Boris/Gove/Farage and a cast of 15,188,406.

Ignored

Hello Dude you was correct 100% . It was a knife falling down my position long @ 1.2790 today by intuition i hedge short @ 1.2605 now i am confuse about trend decision to take off my hedge . Any advice ? Idea ?

Oct 7, 2016 4:47am

Quoting cliffedwards

Disliked

I am TRULY sorry that you got stung. And that so many other here have also.
Its a fundamental structural move.Yes there will be pull backs and rallies but the markets are just reflecting the global lost of confidence in the UK economy outside the EU.

Unfortunately once an impulse brings prices into areas where there is no S&R things like round numbers tend to be the only guides. Brokers run stops, and liquidity just disappears. My advice? Just stand back or trade 1:1or 1:2 leverage ONLY. Be VERY careful about your revenge trade impulse.

Ignored

10XXX

Oct 7, 2016 4:48am

Quoting Not-KPMG

Disliked

Yes
Stay out for a week. Wait for double bottom. May buy, but I'd wait and sell after next retrace up.

I was thinking about the same. jokes ofcourse but a little bit truthful.
Stay safe

Ignored

10XXX

Oct 8, 2016 9:09pm

Quoting Guest

Disliked

I was a novice and had not placed sl. My acct of 15k was wiped out with 8k -ve equity! My long gbp was closed out at 1.106. Can you believe it? Do I have any recourse fr my broker?

Ignored

"I was a novice and had not placed sl"

Says it all. Your broker did nothing wrong.

Oct 9, 2016 12:59am

.But all market was asking the same question "who did it" ?? the more important in my opinion to we know why that unknown Master Minder did it !!!!? the answer that GBP /USD short positions from brokers,,, traders... banks..was huge (BREXIT) and that Master Minder want to build long position with open road upward he did huge short following the trend to all take profit for short position become out from market then he enter aggressive long that why pound recover so fast . Very wise person maybe (Devil Mind). Congratulation ..

Oct 9, 2016 4:56am

Quoting datdle

Disliked

Please is there anyones can tell me: what is reason for this drop is ?

Ignored

.But all market was asking the same question "who did it" ?? the more important in my opinion to we know why that unknown Master Minder did it !!!!? the answer that GBP /USD short positions from brokers,,, traders... banks..was huge (BREXIT) and that Master Minder want to build long position with open road upward he did huge short following the trend to all take profit for short position become out from market then he enter aggressive long that why pound recover so fast . Very wise person maybe (Devil Mind). Congratulation ..

Oct 9, 2016 7:29am — Edited

Lets say gbp trades at 1.3. Then traders go to lunch. Joe comes back first after hearing that it's really worth 1.2, so he puts a bid in at 1.2. Then some news comes before other traders come and step in front and the market maker algos pull quotes.

Now Joe's 1.2 bid is the only bid visible. If your broker does risk management for you (uh oh!) without allowing you to add additional rules to their "mark to model" or "mark to market" logic and the last trade was at 1.3, it's possible the brokers algo thinks the mid point is now 1.3-1.2 = 1.25. If you now have a long with a stop at 1.29, because their algo sees no quotes and mid is 1.25, they exec this stop at 1.2. The short does not actually hedge anything because ask is assumed at 1.3 (last trade+spread), so to cover the short you get no profit, so the short is not able to cover the deficit from the long that's really only worth 1.2 now.

Alternative to using options is to not use margin account but take your leverage by eg. loaning money and use it on cash account.

This isn't all that much different from what happened to LTCM. They got leveraged due to lot of liquidity available. The bank market makers played along and then either real or manufactured crisis happened to allow the bank to exit the trade. LTCM made wrong assumptions on how the money printing business works and it caught up with them.

Oct 9, 2016 12:05pm

Quoting michisuperfr

Disliked

It was crazy how many people were long on the pound. I warned people in some chats who longed it last week that it's technically and fundamentally in a serious downtrend and it's stupid to counter trend it but yeah...

Ignored

They was long for a logic reason (I am 1 of them) that after Brexit vote GBP/USD play horizontal margin high 1.3475 low 1.2960 ( around 3 months) pause waiting to affected article 50 And always after good UK datas pound bounce from low to high ( several times ) so before that crash down trend GBP was at low margin many enter long position .

Oct 9, 2016 3:42pm

Quoting michisuperfr

Disliked

1) I'm sorry that you got caught on that 2) Yeah I see...but damn, the break of 1.28 was in my humble opinion a very strong sign that this might get ugly.

Ignored

I agree my Dear ....1.28 was dangerous signal and like i feel it buy intuition and believe me that night before to go for by bed to sleep I make hedge short for all my long position.... now i am stuck and confuse what to do cause I must to be sure about the future trend up or down before to unblock my position ANY IDEA ? ANY ADVICE ? Regard .

Oct 9, 2016 3:46pm

Quoting Ghassforex

Disliked

I agree my Dear ....1.28 was dangerous signal and like i feel it buy intuition and believe me that night before to go for by bed to sleep I make hedge short for all my long position.... now i am stuck and confuse what to do cause I must to be sure about the future trend up or down before to unblock my position ANY IDEA ? ANY ADVICE ? Regard .

Ignored

I mean by intuition and for my bed ( typing mistake)

Oct 9, 2016 4:36pm

Quoting Guest

Disliked

Shouldn't some trades be cancelled if down to a fat finger? I was long GBP to USD at 15 points with a stop at 12560 not guaranteed but positions closed at 12000

Ignored

What??? your stop lost does not work out ? you was not out from market at your stop price ???

Oct 10, 2016 9:24am

Quoting PaulDaemon

Disliked

I cant see a 1.40 either maybe a 1.26 for now but I dont see any trade in this pair worth risking atm.

Ignored

Guys hard ( impossible) to see GBP/USD 1.29/1.30 end of year ?????

Oct 6, 2016 6:30pm

Quoting timos

Disliked

900 pips but is moving
Maybe your broker issue

Ignored

Yea must be....it's called crying momma.....another attempt to steal from the trader. If you're seeing a 900 pip drop than forex.com shut the system down on G/J. The forex mob at work again.

Oct 6, 2016 6:34pm

Quoting rex123

Disliked

Are the Zionist are manufacturing a "crisis" ?

Ignored

It's the rag heads this time.

1

Oct 6, 2016 7:05pm

Quoting Guest

Disliked

Trading has full of surprises,forex market is a worldwide activities there was probably a big transaction that sells the pound in the asian(probably australian market),nothing new, shit happens sometime in trading and we traders must be fully prepared to such eventualities.

Ignored

You actually think this is a surprise to the guys running the world?

Oct 6, 2016 10:22pm

Up to about an 1hr ago you could trade the 1 min......it was moving 50 pips a leg. Shoot most candles were 15 to 20 pips two hours ago. Some were 30. It's been a while since I've seen movement like that on the 1 min.

Oct 6, 2016 10:43pm

Quoting Aussi

Disliked

u would be joking

Ignored

You must not have looked at it. That was the best 1 min chart I've seen in months after it settled down. The indicators kept putting out batman formations.....the legs were 50 pips up...50 down....

Oct 10, 2016 2:12pm — Edited

On Friday 7th October when Cable flash crashed at 00.05 am BST, into the Asian session, the low of the day was 11,203. I have evidence of this on my charts, as that is where my technical analysis terminates, also on my charts Cable plunged 1,407 pips from the high of the 00.05am BST candle 12,610.7.
Today the low of the same 00.05 Cable candle is 11,800 and this no longer aligns with the technical analysis on my Cable charts. That is a 597 pip difference off the low that I recorded.
Contacted my broker and queried the discrepancy. They claimed that they had to adjust the low, as their systems could not keep up with the flash crash. Hard to believe as a processor will only output the input data that it receives and if their system saw 11,203 as the low. Did not explain how they derived the new higher low.
I smell a rat.
Has the low of the day moved up 597 pips on your Cable chart or has the low on any GBP pair chart moved up for anyone else? The lows have also been moved up on GBPEUR, CBPCHF, GBPCAD and GBPJPY as my technical analysis no longer aligns with the low on these charts.

P.S. Was not trading any GBP pair

Oct 7, 2016 7:13am

20 Hours ago ... in http://www.forexfactory.com/news.php?do=news&id=609938#

Quoting lcast

Disliked

When the big shark is hunting...

What do you do ???

You try to feel the bottom ... or you GET OUT OF THE WATER !!!

PS: There is no bottom for now ...

Ignored

...

The analisys was there ... nobody listen ... the usual ...

Oct 8, 2016 10:10pm

Quoting psychop13

Disliked

Broker have double standard in slippage. I sell GJ at 131 and FXCM filled my TP order exactly at 130,no slippage at all. But others..have a lot negative slippage in their SL order...

Ignored

They did honor my margin call on it. at one point i was in negative territory but they didn't close my trade until it filled the margin call order. only lost a bit over half my account but i am fully impressed by them

Oct 6, 2016 7:44pm

Anyone remember when the USD/JPY used to do moves like this. I remember one night when I first started trading forex and I was watching a the USD/JPY chart and that happened. It scared me so bad that I almost stopped trading for good. It can blow an account in seconds and you are all alone. No banks or high ups looking to help you get back in. Sad to see this happen.

I also remember not to long ago when a trader had a major short going on and the stock took off and he owed the brokerage over 100k. He started a go fund me page and to be honest I didn't mean to laugh but you couldn't help it. You think man you gotta look at what you feel comfortable trading. We have all leveraged to high from one time to another and if you keep doing it sooner or later it is going to catch you and then it's too late! Have a good one you all!!!

Oct 7, 2016 3:27am

Quoting Aussi

Disliked

why do you call it a scam ?

Ignored

because i had 2 positions opened on gbpjpy, 1 long and 1 short, and they should survive this. BUT, my broker for unknown reason closed my short postion at price 127.80(i had no SL set), so the long one made margin call on my account a couple of 100 pips lower. If they closed they should closed both at the same price or none at all ffs. Thats why I call it a scam...

Oct 7, 2016 3:42am

Quoting verv

Disliked

The BBC are saying:

"The pound has dived on Asian markets with automated trading being blamed for the volatility."

http://www.bbc.co.uk/news/business-37582150

Seems like someone or something dumped a load of GBP

Wouldn't surprise me this was deliberate manipulation

Ignored

Ofcourse it was. It always is.

Oct 7, 2016 3:23am

Quoting MikeDNC

Disliked

Why?

Ignored

Quoting Guest

Disliked

I had long positions on GBP/EUR and GBP/USD with reasonable stop losses in place.
I went to bed happy and have woken up shocked and angry to find my account has been wiped out. The trades were closed MASSIVELY BELOW the stop loss figures that I placed.
Whatever happened to the Computer Automated System ???
ETX even closed my stocks trades over one hour later(despite the Stock Market in London being closed) to cover the EXTENSIVE losses on my Forex trades.
This has completely WIPED ME OUT, This puts an end to my Forex Trading !!!!!!! and ETX...

Ignored

You not only one LOL

Oct 6, 2016 6:15pm

whats the reason for this crashing???

Oct 6, 2016 6:21pm

Quoting natthapol.v

Disliked

the moment i saw the chart, i looked everywhere for the causes of it. Couldn't find any!!

Ignored

same here..

weird ..

Oct 6, 2016 6:21pm

Sweet

Oct 6, 2016 6:53pm

A BLACK SWAN EVENT.

Oct 6, 2016 7:56pm

after reading here guess what the writing was on cards , and shows me how people cant read a chart big drops then side ways down then bang it did it again it was in a down trend go look at day chart

Oct 6, 2016 8:32pm

On the GJ daily we have not had a single Higher High since August 2015 but there remains plenty of trading opportunities and they will continue.

Oct 6, 2016 9:52pm

Money never sleeps

Oct 7, 2016 1:29am

Its like in Zoo here: someone hit the cage, all monkeys start to debate, shout, yell

I dont mind to pay a ticket for that!

Oct 7, 2016 3:20am

Another Swiss black swan swimming UK waters

Oct 7, 2016 3:24am

Quoting skymania

Disliked

im done with this scam.

Ignored

why do you call it a scam ?

Oct 7, 2016 5:38am

This isn't trading, it's market manipulation. Lost 12.5k last night. Last time that happened to me was in August 2011, when the Swiss pegged itself to the Euro, and the Governer of Swiss Bank's bitch of a wife made over 80K with insider trading. He ended up having to resign.

Oct 8, 2016 2:31am

If somebody is surprised by this, you probably have traded DEMO for too long

Oct 8, 2016 9:48am

Quoting venividivici

Disliked

Another Swiss black swan swimming UK waters

Ignored

Top 2016 comment. Deep.

Oct 8, 2016 3:23pm

Hey I might sell my civic to buy a house in Wales... keep dropping we'll see you might reach 0.

Oct 9, 2016 1:37am

Its gone and a new week coming ,

Oct 10, 2016 3:32pm

monthly chart as 6 red candles 1.22 seems to be the next port of call on hourly its a sideways position readying for the fall i have been wrong before

Oct 6, 2016 6:30pm

Getting Lot of traders to lose and got their stoplose, thats kinda of cheating tho even alot got wining

Oct 7, 2016 7:55am

Retail forex is the easiest market to manipulate.
(very very small and lots and lots of ignorant players)

Oct 9, 2016 11:46pm

Quoting PaulDaemon

Disliked

Got to laugh at that one

Ignored

It explains a lot, does it not ? (:

Oct 12, 2016 6:02am

Quoting cliffedwards

Disliked

This plan is going well? Yeah?

Ignored

Yeah it is. Time to bet the farm...

Oct 6, 2016 8:38pm

I pull 10% gain from there.. what a lucky day

Oct 7, 2016 12:31am

it was only a price manipulation and nothing more !

Oct 7, 2016 4:25am

Quoting Guest

Disliked

George Soros opened a short position!

Ignored

Now that is the most likely cause...

Oct 6, 2016 6:32pm

If you're surprised by this kind of shit your'e a newb

Oct 6, 2016 7:10pm

Quoting Raihan.Rehab

Disliked

what do you all think... Should long pound now?

Ignored

What about letting the gun cool down first

Oct 6, 2016 6:40pm

GoOoOoOoOoOoOoOoD

Oct 7, 2016 5:50am

Another nail in the US retail FX coffin. Enjoy it while it last.

Oct 7, 2016 2:45am

Jesus Christ ! that was an ugly one, many traders gone broke tonight folks.
i'm glad to never hold overnight positions.

Oct 6, 2016 6:53pm

THis explains everything: http://www.reuters.com/article/us-britain-politics-idUSKCN1261ZO?il=0

Oct 6, 2016 7:32pm

Quoting Spec_And

Disliked

No thats old news.

Ignored

????
The article was published on Thu Oct 6, 2016 | 7:39pm EDT

Oct 6, 2016 8:49pm

If they re-enter you may see another "not to short" point.

Oct 6, 2016 6:17pm

Quoting cugir321

Disliked

Did they just shut G/J down....dropped 220 pips in 5 seconds and stopped.....not moving at all.

Ignored

900 pips but is moving
Maybe your broker issue

Oct 6, 2016 6:37pm

Quoting Platanero

Disliked

My pound yen is still frozen. so is EUR/GBP.. all other pairs moving but these two are frozen.

Ignored

Who is your broker?

Oct 6, 2016 6:41pm

Quoting Platanero

Disliked

Oanda

Ignored

That says it all

Oct 6, 2016 7:00pm

Quoting Platanero

Disliked

any suggestions??

Ignored

10k and above LMAX
Below that maybe Darwinex...
Try to stay with a FCA & STP regulated broker

Oct 6, 2016 6:34pm

Quoting MoSilva

Disliked

its like brexit all over again

Ignored

see they dont need no reason to do it

Oct 6, 2016 7:12pm

Quoting Raihan.Rehab

Disliked

what do you all think... Should long pound now?

Ignored

All should think now about staying away for a while ...

Oct 6, 2016 7:48pm

such B.S.....no wonder the little guy can never get ahead.

Oct 6, 2016 6:21pm

Quoting Valerka

Disliked

I said today stay out of GBP,XAU,JPY....SL all ower the world

Ignored

Whys that?

Oct 6, 2016 6:49pm

Quoting Jaymantos

Disliked

It did. But if you were watching market through a ecn you'd notice price kept falling way lower.

Ignored

Yeah, 200 pips? Try about 1000 or more...

Oct 6, 2016 7:36pm

Everyone, look at the timestamp... The event was triggered right at the start of Asian session. Panic orders came through right out of the gate.

Probably a big macro currency hedge fund blew up.

Oct 6, 2016 8:31pm

Quoting Almo2312

Disliked

whats the reason for this crashing???

Ignored

BIG FINGER 4 SURE....

Oct 6, 2016 8:35pm

Quoting Valerka

Disliked

I said today stay out of GBP,XAU,JPY....SL all ower the world

Ignored

I Agree you guess it ))) BRAVO))

Oct 7, 2016 3:17am

Since nobody mentioned it, this is great for exports !!! LOL

Oct 10, 2016 12:04pm

Quoting Ghassforex

Disliked

Guys hard ( impossible) to see GBP/USD 1.29/1.30 end of year ?????

Ignored

Mohamed El-Erian: Fed's persistent inaction risks financial market instability
From cnbc.com

Oct 10, 2016 2:31pm

[quote=cliffedwards;9188792]Heres a story guys you should think on when you listen to @Mingarys advice...

"A Tourist fisherman starts fishing in a Pool.

Good One .lol

Oct 6, 2016 6:16pm

Did they just shut G/J down....dropped 220 pips in 5 seconds and stopped.....not moving at all. It's like it kicked a breaker.

Oct 6, 2016 6:27pm

It's the super shemittah....lol!!! Wonder how the world feels about this?

Oct 6, 2016 6:54pm

Did J.P.Morgan default yet? It will be a wonderful day when those bastards lose it all.

Oct 6, 2016 7:03pm — Edited

Cable, its an AB=CD pattern of the Brexit move to the downside. Same also for GBPEUR, GBPCHF and GBPCAD. GPBJPY it's a potential Cypher pattern setup!

Oct 9, 2016 6:00pm

The market is always right! Which side are you on, the upside, the downside or the rightside? If not, then stand aside!

Oct 7, 2016 4:08am

Whoops, market manipulation gone wrong.

Oct 7, 2016 8:38am

Quoting Evestinforex

Hidden

You believe stops were executed/respected during this chaos?

Oct 7, 2016 1:10pm

Hopefully BOE will confirm the cause of the spike otherwise it makes no sense to trade Â£. I suppose in the mean time, the BOE could be the only ones going long on the Â£.

From another angle, it amazing when one looks at the ftse 100 and Ftse 250 and both seems to be flourishing like all is well with the UK with the level of uncertainty around HARD Brexit.

I can understand some have footings outside of the UK which of cause, the devaluation of the British pound should be positive from a long term perspective, it amazing to think that some investors are still investing in UK companies (i suppose this is the main reason for both indices in the bull territory) because with the level of chaos so far...it makes no sense to my simple mind.

Oct 10, 2016 6:40am

Quoting Mingary

Disliked

The market will always move in the direction that causes the greatest financial damage to the greatest number of accounts.

Ignored

We though that currency prices are determined by forces of demand and supply.
So, we can safely replace "The market" with "The manipulator"?

Oct 6, 2016 7:08pm

Quoting aroxalot

Disliked

THis explains everything: http://www.reuters.com/article/us-br...KCN1261ZO?il=0

Ignored

No thats old news.

Oct 6, 2016 7:57pm

black friday LOL

Oct 7, 2016 7:20am

And today ... after the carnage

I still hear ... buy sell ... buy sell

There are SHARKS in the water ... but you all love to swim in Shark infested waters

... and 95% will be eaten alive ...

Oct 6, 2016 6:22pm

Wow, that was sooo unexpected...

Oct 6, 2016 6:46pm

low on my broker is 1.11234 on GBPUSD

Oct 6, 2016 6:52pm

Quoting Svenlim

Disliked

What broker u use?

Ignored

AdmiralMarkets

Oct 6, 2016 7:39pm

Reminds me of that story I just heard on Magnificent Seven of a man falling out of a 5 story building. As he fell down each floor the people could hear him say - "So Good So Far"!!!!

Oct 6, 2016 8:17pm

what the heck??? now the pound is like CHF.....can't trade that now....

Oct 6, 2016 11:54pm

this is crazy, 5% move without any news ????

Oct 6, 2016 6:50pm

Wow, just decided to short this morning and boom. Looks like volatility is back! Gold - bang, GBP - Bang...

Oct 6, 2016 7:04pm

So many people asleep now will wake up and find out they have been wiped out by this. Feel sorry for them, but I can see this going to near parity in the near future. Whatever happens in the world, the $$$ will always be/stay the safe haven and the reserve currency.

Oct 7, 2016 4:38am

Why are people here surprised that they were wiped out when they run 100:1 leverage? A 20:1 leverage account would have been wiped out last night.
Agree with the above poster, just scale back your leverage guys.

Oct 7, 2016 1:22am

Quoting Valerka

Disliked

I said today stay out of GBP,XAU,JPY....

Ignored

Why?

Oct 6, 2016 6:25pm

I was dumb to be long GBP, smart and lucky to stop out at 1.25750. Whew!

Oct 6, 2016 7:10pm

what the fuck !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Oct 6, 2016 6:29pm

My pound yen is still frozen. so is EUR/GBP.. all other pairs moving but these two are frozen.

Oct 6, 2016 6:40pm

Quoting timos

Disliked

Who is your broker?

Ignored

Oct 6, 2016 6:41pm

its back..

Oct 6, 2016 6:59pm

Quoting timos

Disliked

Onda??

Now you know it's time to change your buck shop and look for a decent broker

Ignored

any suggestions??

Oct 9, 2016 4:39pm

Quoting Guest

Disliked

Shouldn't some trades be cancelled if down to a fat finger? I was long GBP to USD at 15 points with a stop at 12560 not guaranteed but positions closed at 12000

Ignored

No surprise with 500 pips spread. I just wonder who is the buy partner on other side on 12000. This is no way human with a flash crash in 3 minutes. You should ask your broker to get a trade report to find out.

Oct 6, 2016 6:28pm

FXXX me what hell man !! loss around 800 Pips in three pair within 5 minutes :@

Oct 6, 2016 9:34pm

Black Fucxxxx Friday

Oct 6, 2016 10:17pm

Quoting timos

Disliked

Big fat miscalculations?!?

Obvious stop hunt & large order filling for a move in the opposite side???

Ignored

LOL stop hunt lol jeezzzz

Oct 7, 2016 3:18am

im done with this scam.

Oct 7, 2016 3:28am

still waiting for an answer from a broker...

Oct 7, 2016 5:33pm

Quoting Guest

Disliked

nothing like getting paid $1150. to step out for a smoke.

Ignored

See, smoking aint so bad for ya..

Oct 6, 2016 7:53pm

Quoting Raihan.Rehab

Disliked

what do you all think... Should long pound now?

Ignored

Ha ha ha ha ha ha ha ha ha ha ha ha ha ha

Oct 7, 2016 9:43am

Yesterday cable was at 1.26 today is at 1.245. What is the big deal about it?
Price can both ways. If you don't understand that quit forex.

Oct 6, 2016 6:18pm

I said today stay out of GBP,XAU,JPY....SL all ower the world

Oct 6, 2016 6:28pm

Quoting mrhigurashi

Disliked

Whys that?

Ignored

All these pairs are at lows/highs, fast moving, tomorrow are payroll day and USD uptrend seems strangely worrying....

Oct 6, 2016 6:41pm

someone must be get margin call

Oct 6, 2016 7:15pm

all of we better leave pound pairs. i think we will be fine

Oct 6, 2016 6:27pm

Look at what just happened to this major currency.............

Just another example (and further evidence) that nothing is guaranteed in this game. And there is no such thing as "OB/OS".

Even if this thing recovers completely, you better believe that some people just
lost their ass on this move. And this is EXACTLY why you must always keep your positions (relatively) small.

Money Management
Money Management
Money Management

Best of luck to everyone!

Oct 6, 2016 6:31pm

LOOK AT YOUR CHARTS!!!

This is the exact price (129.80) we had the last flash crash on GBPJPY on March 16, 2011. I remember that one like it was yesterday. Very strange it happens at the same exact price level!!!!

Oct 6, 2016 6:32pm

I had a large short on GBP stopped out earlier this evening but I reopened a smaller one and got out with 300pip profit. Raging that my larger position was stopped by 1 pip earlier. Feel sorry for anyone long.

Oct 6, 2016 7:14pm

Quoting ScorpFX

Disliked

Look at what just happened to this major currency.............

Just another example (and further evidence) that nothing is guaranteed in this game. And there is no such thing as "OB/OS".

Even if this thing recovers completely, you better believe that some people just
lost their ass on this move. And this is EXACTLY why you must always keep your positions (relatively) small.

Money Management
Money Management
Money Management

Best of luck to everyone!

Ignored

MM is king

Oct 6, 2016 8:11pm

Quoting Nala66

Disliked

This was the predicted price on the GJ daily as given by an ABC triangle.

A ( Apex)was on the 9th Sept
B (Bottom)was on the 27th Sept
C (Convergence of AB)

Target price is the vertical distance of AB from the breakout point of the BC line.

Though it hit the target to the pip the surprise was the speed of execution. This suggest someone hit the button too fast and we may go back down to this level in a more orderly fashion.

I would not be considering longs for some time yet.

Ignored

Correct GBP has been firmly in short pattern since the start of the year with no indication of moving north any nothern move is just pull backs

Oct 6, 2016 8:26pm

Quoting ScorpFX

Disliked

Look at what just happened to this major currency.............

Just another example (and further evidence) that nothing is guaranteed in this game. And there is no such thing as "OB/OS".

Even if this thing recovers completely, you better believe that some people just
lost their ass on this move. And this is EXACTLY why you must always keep your positions (relatively) small.

Money Management
Money Management
Money Management

Best of luck to everyone!

Ignored

Exactly right

Also help to have reliable stable broker too.

I have been out the market afterall its NFP time so its crazy time! Also its consolidation time anyway!

Oct 6, 2016 8:35pm

you know why this happen??...for me it's simple...

if you see in few days back then there is strong sellers.
and they just wanna see if there is enough buyers to take the other side of their trade.

but there is not enough conviction in buyers belief so they 're all out of their trade. when it's weak. the sellers attack them with huge volume. it's always happen in all pair all time frame, and all times.

so there is nothing to be surprised.....

Oct 6, 2016 8:58pm

Quoting maul1809

Disliked

you know why this happen??...for me it's simple...

if you see in few days back then there is strong sellers.
and they just wanna see if there is enough buyers to take the other side of their trade.

but there is not enough conviction in buyers belief so they 're all out of their trade. when it's weak. the sellers attack them with huge volume. it's always happen in all pair all time frame, and all times.

so there is nothing to be surprised.....

Ignored

The actual volume on this sell off is quite small and its the reason why it crashed. All it takes it one big trade on low volume/liquidity to sink it. Could of been 500 million $ trade just to cleanup. In and out.

All the retail traders complaining about manipulation here just think not only retailers lost this morning but also banks, brokers fund managers lost millions some maybe even lost their entire pot. There will be novice bank traders lost their job today believe me.

Oct 6, 2016 9:14pm — Edited

Quoting Ghassforex

Disliked

Hello Dude you was correct 100% . It was a knife falling down my position long @ 1.2790 today by intuition i hedge short @ 1.2605 now i am confuse about trend decision to take off my hedge . Any advice ? Idea ?

Ignored

Im in the same situation I was long at 1.28000 (post brexit support) now waiting for a pull back to 1.26 then cut my loss.

Buyers will be staying out now and the liquidity will be very thin. UK data has been coming out green but traders very concerned with brexit.

Right now the pound is a bottomless pit and until we see a bullish daily or weekly candle I now believe there is no upside potential for the pound.

Oct 6, 2016 9:47pm

Quoting livetotrade

Disliked

Anyone remember when the USD/JPY used to do moves like this. I remember one night when I first started trading forex and I was watching a the USD/JPY chart and that happened. It scared me so bad that I almost stopped trading for good. It can blow an account in seconds and you are all alone. No banks or high ups looking to help you get back in. Sad to see this happen.

I also remember not to long ago when a trader had a major short going on and the stock took off and he owed the brokerage over 100k. He started a go fund me page and to be honest...

Ignored

yes but that was in the asia which means under BOJ eyes but GBP doing this when BOE zzzzzZZZZZzzzzzz

Oct 6, 2016 9:48pm

It's much easier.... Gann angles are not working in vain... http://prntscr.com/cqs30p
Stood in my shorts 1,2980 closed for take on 1,1800 and I had to move on at 1.1500 (but I thought it was fake)..
Good luck to all and will be back in the morning to wear shorts, I will come after Asians Europe and England... here the goats of the place not to be missed...

Oct 6, 2016 11:14pm

Quoting mrhigurashi

Disliked

fantastic move... i just went to the bath room and boom! Its obviously something not right hear, its shooting back up again. someone playing games.... Even if you had a sell order on that, im sure from reading other post most people seemed to have a bullish outlook on the pound so im sure lots of unhappy people when they wake up today.

Ignored

And also lots of happy people, loool
I was on SEll GJ without any TP. So yo can imagine how happy i was, when i closed my Sell ....

Oct 7, 2016 1:31am

What we have to analyze here is the volume.
Very low volume on the crash and very high volume on the recovery.
http://www.forextradingforprofit.com.au/economic-analysis/pound-crashes-brexit
This could be the flip side for the pound and quite possible we wont see new lows for a very long time.

Oct 7, 2016 4:03am — Edited

This CLUSTER-FKUC has been brought to you by BREXIT.
Starring Boris/Gove/Farage and a cast of 15,188,406.

But dont worry if youre a fat cat thats got Stocks and Shares..you are laughing. As Soros said.. The only winners will be the speculators. Everyone else will be poorer.

Oct 7, 2016 4:35am

Quoting Ghassforex

Disliked

Hello Dude you was correct 100% . It was a knife falling down my position long @ 1.2790 today by intuition i hedge short @ 1.2605 now i am confuse about trend decision to take off my hedge . Any advice ? Idea ?

Ignored

I am TRULY sorry that you got stung. And that so many other here have also.
Its a fundamental structural move.Yes there will be pull backs and rallies but the markets are just reflecting the global lost of confidence in the UK economy outside the EU.

Unfortunately once an impulse brings prices into areas where there is no S&R things like round numbers tend to be the only guides. Brokers run stops, and liquidity just disappears. My advice? Just stand back or trade 1:1or 1:2 leverage ONLY. Be VERY careful about your revenge trade impulse.

Oct 7, 2016 4:36am

Quoting Exodus

Disliked

Now that is the most likely cause...

Ignored

I think Soros "mentioned" his view on brexit some time ago.
http://finance.yahoo.com/news/george-soros-brexit-only-winners-124919723.html

Oct 7, 2016 5:17am

Quoting Paraipan

Disliked

Yes sir indeed, probably one of the most well planned financial schemes in our times !!!

Ignored

WELL PLANNED?

Oh its ALL a giant global Conspiracy? NOT!

NO. Its a really BAD decision made by "the People" who were CONNED by the lies and scam claims by a bunch of SCOUNDRELS like Farage Johnson and Gove.

Oct 7, 2016 7:00am — Edited

Quoting Paraipan

Disliked

Big boys did hundred of millions in one day, Farage resigns after spitting all that crap for ages saying that his "mission was complete"... you can call it conspiracy or whatever you want its all about the dough in the end...

Ignored

100%
Good analogy BTW.."Mission Complete" LoL
BREXITs in the same box.

And we can see in Iraq Syria and across the Middle East what a wonderful success "Mission Complete" has been?

Oct 7, 2016 9:00am

Quoting Exodus

Disliked

...depends which broker you use. A decent broker would have filled with some slippage. However if there really were no buyers (see headline article) the slippage might have been large.

Ignored

Sure slippage up to 100 pips, but at least you don't wake up to empty account as some have done this morning.
I remember I was in the CHF on the wrong side on 15. Jan 2015 and got just 40 pips slippage. I was very happy to say the least.

Oct 7, 2016 9:54am

IMHO.. The reason for 90% of broker disputes when liquidity goes void, is spread widening which is for many is a little understood mechanism used by brokers to protect their books.
The mechanism is commercially reasonable but causes problems when used by unscrupulous brokers to profit at expense of customers rather than simply guard their own book exposure. or because of similar behaviour up channel by their counterparties/liquidity providers.
Since these sort of events typically happen a lightning speed, their Book management software and that of their counterparties cause the damage.

Oct 7, 2016 4:44pm

Quoting Ghassforex

Disliked

Hello Dude you was correct 100% . It was a knife falling down my position long @ 1.2790 today by intuition i hedge short @ 1.2605 now i am confuse about trend decision to take off my hedge . Any advice ? Idea ?

Ignored

Just need a good Chart dude here is one https://www.tradingview.com

also GBP will keep going down until end of November....(Annual Probability Trend)

It should therefore range up in December before back down in January.

May is the next significant up trend movement!

Oct 7, 2016 9:49pm

Quoting skymania

Disliked

because i had 2 positions opened on gbpjpy, 1 long and 1 short, and they should survive this. BUT, my broker for unknown reason closed my short postion at price 127.80(i had no SL set), so the long one made margin call on my account a couple of 100 pips lower. If they closed they should closed both at the same price or none at all ffs. Thats why I call it a scam...

Ignored

What broker are you with?

Oct 8, 2016 10:25pm

Quoting Mingary

Disliked

Retail forex is the easiest market to manipulate.
(very very small and lots and lots of ignorant players)

Ignored

The charts are the charts it dont matter if you are a central bank a fund manager large corporation or a retail trader. we all see the same thing.
Its all the same.

Oct 9, 2016 7:21am

Quoting Mingary

Disliked

The market will always move in the direction that causes the greatest financial damage to the greatest number of accounts.

Ignored

So everyone was LONG Cable? Bullish Cable?
Explain please?

Oct 9, 2016 8:36am

Quoting michisuperfr

Disliked

It was crazy how many people were long on the pound. I warned people in some chats who longed it last week that it's technically and fundamentally in a serious downtrend and it's stupid to counter trend it but yeah...

Ignored

YES. Thats the reality I was trying to draw out...

MANY RETAIL TRADERS were Long Cable. R-E-T-A-I-L
Particulaly those sympathising with the Brexit cause, who are widely represented here.. And who have a very natural unconscious and understandable bias towards "Wanting" the currency to rally.
Make no mistake emotional predispositions play a major part in Retail Traders bias.
I struggle every day to Trade What I See.. And when I see markets becoming dangerously volatile, and capital flows being diven by political posturing , I stand back. No NOT because Im smart but because over a decade, Ive made that mistake twice before. And thats once too many .. LoL

Oct 10, 2016 4:47am

Quoting michisuperfr

Disliked

It was crazy how many people were long on the pound. I warned people in some chats who longed it last week that it's technically and fundamentally in a serious downtrend and it's stupid to counter trend it but yeah...

Ignored

Spot on.
The fact is that this bull sentiment applied only to RETAIL Traders.
The Flash Crash alone shows it was not institutional sentiment.(95%+ of market)
IMHO Your advice was 100% sound, but while many Retail Traders didnt appreciate this, my research suggests many were also unfortunately emotionally influenced by their stand on Brexit and a predisposition to supporting the Pound. Markets are no place to bring emotion or ideology to. Trade what you SEE.

Oct 10, 2016 4:55am

Quoting Mingary

Disliked

Yes, long cable.
Now watch as the forex retail herd now realizes that the trend must be down and they start shorting the pound all the way to 1.40
The forex herd always migrates from one losing position to the next.

Ignored

So you believe Cables going to 1.40? Or you just blowing smoke up everyones ass here?
Lets pretend youre not. So give us all a option price on 1.40 onetouch expiring Sept 2017?

Oct 10, 2016 6:44am

Quoting PaulDaemon

Hidden

Yeah Paul.. a correction is overdue. But as to reversal of long term trend I dont agree.
The drop is driven by fundamental concerns about the UK economy which at this stage appear insoluble. Thats why I find 1.40 Cable a bit incredible at this point with what we know of the UK economy uncertainties over the next couple of years.

Just saying.

Oct 10, 2016 8:19am

Quoting cliffedwards

Disliked

Yeah Paul.. a correction is overdue. But as to reversal of long term trend I dont agree.
The drop is driven by fundamental concerns about the UK economy which at this stage appear insoluble. Thats why I find 1.40 Cable a bit incredible at this point with what we know of the UK economy uncertainties over the next couple of years.

Just saying.

Ignored

I cant see a 1.40 either maybe a 1.26 for now but I dont see any trade in this pair worth risking atm.

Oct 10, 2016 8:31pm

I really find it amazing how we as a community continue to trade forex. Clearly this was one of the biggest market manipulating moves and the final result is that it was a "flash" or a "glitch" I seriously find it to believe and it is for reasons like this that I don't invest and I withdraw my profits monthly!

Oct 12, 2016 5:53am

Quoting Mingary

Disliked

Yes, long cable.
Now watch as the forex retail herd now realizes that the trend must be down and they start shorting the pound all the way to 1.40
The forex herd always migrates from one losing position to the next.

Ignored

This plan is going well? Yeah?

Oct 7, 2016 2:05am

Someone will go to jail for that for sure.

Oct 7, 2016 12:22am

At least we know now there's no any stop loss down to 1.16.

Oct 6, 2016 6:17pm

I hit T/P over 100 pips on stolen yen, still confused what the hell is going on??

Oct 6, 2016 6:18pm

frequency traders?...

Oct 7, 2016 8:28pm

Please is there anyones can tell me: what is reason for this drop is ?

Oct 6, 2016 6:30pm

my only regret is that I had a 150pips take profit on gbpnzd, and gpbaud. I'm still tyring to figure out what the hell happened. Reuters, Bloomberg have nothing about this non sense

Oct 7, 2016 1:25am

This was a calculated response from the global elite (Bilderberg) for the brexit vote.This is just the begining. They are showing what can happen if a country refuses the globalization agenda.

Oct 6, 2016 6:26pm

Are the Zionist are manufacturing a "crisis" ?

Oct 7, 2016 8:05am

Quoting Mingary

Disliked

Retail forex is the easiest market to manipulate.
(very very small and lots and lots of ignorant players)

Ignored

And dont forget, no regulation at all

Oct 7, 2016 4:44am

Now you can see the GBPUSD support of 1.19. I will not buy until it reaches this low.

Oct 6, 2016 6:14pm

nice!

Oct 6, 2016 6:17pm

Lolol

Oct 6, 2016 6:19pm

the moment i saw the chart, i looked everywhere for the causes of it. Couldn't find any!!

Oct 6, 2016 6:25pm

I checked the volume, and it seems that someone with fat money just thrown exactly 100 Lot order in there

Oct 6, 2016 6:25pm

Change monthly chart

Oct 6, 2016 6:26pm

This is just too unbelievable. I guess its end time....

Oct 6, 2016 6:31pm

its like brexit all over again

Trader#D176

Oct 6, 2016 6:33pm

3 hours ago.

French President Francois Hollande said on Thursday the European Union needed to remain firm with Britain after it appeared that Prime Minister Theresa May had opted for a tougher exit from Europe.

"Britain wants to leave, but doesn't want to pay. That's not possible," Hollande said in a speech at the Jacques Delors Institute in Paris.

Oct 6, 2016 6:35pm

Aliens in action haha

Oct 6, 2016 6:37pm

wtf man?

Oct 6, 2016 6:40pm

1 full contract GBP/USD 3 mini's on eur/GBP was - $18000

Oct 6, 2016 6:40pm

what the f**k is going on ? why this move happen? brexit this old news cause it , no way?

Oct 6, 2016 6:42pm

oops.. sorry wrong button..

Trader#22D5

Oct 6, 2016 6:43pm

Oanda froze all GBP action for 9:07 p.m EST to 9:36 p.m.

Took a screen shot to show no trades during this period.

When trading resumed there had been a retracement of about 50%.

Those of us short the GBP had our account blatantly manipulated by the bucket shop.

Trader#3370

Oct 6, 2016 6:45pm

Trading has full of surprises,forex market is a worldwide activities there was probably a big transaction that sells the pound in the asian(probably australian market),nothing new, shit happens sometime in trading and we traders must be fully prepared to such eventualities.

Oct 6, 2016 6:47pm

ok i am broke happy ??????

Oct 6, 2016 6:47pm

think we might have seen the low for the month

Oct 6, 2016 6:47pm

No news no where yet, any one recommends any source ??

Oct 6, 2016 6:48pm

Once Non-Farm Payroll is done its going to be a massive pin bar on the daily !

Oct 6, 2016 6:50pm

cant find any explanation for it... It emphasises the importance of Money Management.

Oct 6, 2016 6:51pm

spread was 1200 pips here

Oct 6, 2016 6:51pm

Quoting ForeverNewb

Disliked

low on my broker is 1.11234 on GBPUSD

Ignored

What broker u use?

Oct 6, 2016 6:52pm

https://www.ft.com/content/5f84e4c4-8c17-11e6-8aa5-f79f5696c731

Oct 6, 2016 6:52pm

entered long on pound... wrong idea?

Oct 6, 2016 6:53pm

I was short and couldnt close as broker froze online trading and didnt answer their phone. I had to watch as all my profit retraced. About 600pips

. I feel bad but I really feel for any longs.

Oct 6, 2016 6:54pm

Quoting Raihan.Rehab

Disliked

entered long on pound... wrong idea?

Ignored

I opened a long with a fairly tight gauranteed stop. Worth a punt

Oct 6, 2016 6:55pm

'Hollande demands tough Brexit negotiations' is the FT.com article

Oct 6, 2016 6:56pm

That's enough to move GBP during the most illiquid time of day!

Oct 6, 2016 6:59pm

Quoting onlytrading

Disliked

I opened a long with a fairly tight gauranteed stop. Worth a punt

Ignored

any target?

Oct 6, 2016 7:00pm

this will weaken EUR

Oct 6, 2016 7:03pm

Perfect!!!No manipulation at all

Oct 6, 2016 7:04pm

what do you all think... Should long pound now?

Oct 6, 2016 7:24pm

Feel for people who lost money, nature of the game

Trader#923A

Oct 6, 2016 7:35pm

I thought this may have had to do something with the hurricane in florida when I was staring at GU pair, but then I realized it Sterling after comparing and contrasting a few different pairs.

Lets wait and see how this one plays out at 8am London time. Should be interesting, i guess we are always learning something new when it comes to the forex!!!

Sunny

Oct 6, 2016 7:36pm

gbp/usd took 15k $ in some minutes how can leave it????

Oct 6, 2016 7:36pm

It's celucas! Unpredictable!
My account is safe for my yestardys profit.

Oct 6, 2016 7:43pm

to move the pound by 5%+ you need at least 150billion+ because British gdp is approx. 3 trillion. please correct me if i'm wrong

Oct 6, 2016 7:44pm

Sweet!! Gbp!

Oct 6, 2016 7:58pm

Quoting chlyon

Disliked

1 full contract GBP/USD 3 mini's on eur/GBP was - $18000

Ignored

Great I am pleased for you

Oct 6, 2016 7:59pm

Most looking at indicators must know that its the charts stupid!

Only the Chart alone will give clues to whats happening and possible next direction.

Oct 6, 2016 8:04pm

is this legal move or they are just playing (how come spread became 1200 pips ) and then when they finish what they did the GBP drop just 300 points not more

Oct 6, 2016 8:04pm

How wil this affect uk100/ftse tomorrow?

Oct 6, 2016 8:05pm

Broker have double standard in slippage. I sell GJ at 131 and FXCM filled my TP order exactly at 130,no slippage at all. But others..have a lot negative slippage in their SL order...

Oct 6, 2016 8:08pm

I wonder which brokers will go under this time? FXCM again? Interactive?

Oct 6, 2016 8:09pm

The Forex business is cut throat stuff...FXCM and others are more lenient

Oct 6, 2016 8:46pm

a lot of banks closed their long position from my source for shorting gbp. I will suggest not to short at this point thought before they re-enter.

Trader#95B5

Oct 7, 2016 1:13am

I had long positions on GBP/EUR and GBP/USD with reasonable stop losses in place.
I went to bed happy and have woken up shocked and angry to find my account has been wiped out. The trades were closed MASSIVELY BELOW the stop loss figures that I placed.
Whatever happened to the Computer Automated System ???
ETX even closed my stocks trades over one hour later(despite the Stock Market in London being closed) to cover the EXTENSIVE losses on my Forex trades.
This has completely WIPED ME OUT, This puts an end to my Forex Trading !!!!!!! and ETX

Oct 7, 2016 2:02am

The BBC have a good article about the crash this morning

http://www.bbc.co.uk/news/business-37582150

Oct 7, 2016 4:45am

How many economists/analysts do you need to change a Light Bulb?
NONE.. if it needs changing the Market will already have changed it.

Its just been changed.

Oct 7, 2016 5:14am

Quoting Guest

Disliked

nothing like getting paid $1150. to step out for a smoke.

Ignored

yep. ;-)

Trader#E3C1

Oct 8, 2016 12:56am

I am working hard to make good trading for almost 1.5 month, grow my account pretty well, before the Friday crash, I have a position and did not set SL, but the account is 600 pips away from burn, I though it save enough, .....Did something else, than next 1 hour back to check the price...
cable drop 600 pips less than 30 minutes, the account was burned.....
WTF....

Oct 8, 2016 2:42pm

Even cme halted for 10 second , stop whining """my broker froze""" shit !

Oct 8, 2016 10:45pm

Quoting mrhigurashi

Disliked

"I was a novice and had not placed sl"

Says it all. Your broker did nothing wrong.

Ignored

No one wrong only a bit of care will make thing better

Oct 9, 2016 7:42am

Quoting Mingary

Disliked

The market will always move in the direction that causes the greatest financial damage to the greatest number of accounts.

Ignored

Got to laugh at that one

Oct 10, 2016 5:03am

I think it will head towards 1.20 again after a small knee jerk rally.
However, GBPUSD so difficult to predict.
Better to wait until it makes it move.

Oct 10, 2016 5:06am

At last UK Government makes clear their Post-Brexit strategy.
3 Simple Steps.

1. Safety catch OFF
3. Aim carefully at Foot.
3. Pull Trigger.

Trader#1553

Oct 10, 2016 8:07pm

Quoting Ghassforex

Disliked

Guys hard ( impossible) to see GBP/USD 1.29/1.30 end of year ?????

Ignored

If you check now at first page positions of FF traders on EU, GU, UJ are clear short the dollar. Before this happen they were dead short and some even buying gold even after 1300 break. So there are still plenty tight stops in the table I guess. Get out yesterday, pay for the expensive lesson: NEVER martingale against the base currency whatever logic arguments may exist.

Oct 11, 2016 1:06pm

Quoting timos

Disliked

Onda??

Now you know it's time to change your buck shop and look for a decent broker

Ignored

No, IG but I guess most brokers were the same

Oct 11, 2016 1:09pm

Quoting Raihan.Rehab

Disliked

any target?

Ignored

Just a scalp to get some of the rebound move upwards.

Oct 12, 2016 7:41am

Quoting Mingary

Disliked

Yeah it is. Time to bet the farm...

Ignored

Well without EU subsidies its not going to be worth much anyway... LoL

Trader#D176

Oct 6, 2016 6:15pm

What the hell is going on here

Trader#5672

Oct 6, 2016 6:19pm

Recent daily down price action would suggest a rebound retracement. Instead we get a mind boggling black swan down 675 pips in :15.

Trader#22D5

Oct 6, 2016 6:20pm

Oanda has locked the EUR GBP and froze all trading. Cannot even get an accurate price.

Trader#82A2

Oct 6, 2016 6:27pm

how come and what happen?

Trader#5200

Oct 6, 2016 6:31pm

nothing like getting paid $1150. to step out for a smoke.

Trader#3548

Oct 6, 2016 6:44pm

Margin call for this lad. Smart attack

Trader#2699

Oct 6, 2016 6:45pm

wow. i was lookin for the setup for another pair untill i got back to the GU again and see this waterfall.

Trader#9E99

Oct 6, 2016 6:46pm

I can believe no responsible body is yet to advice what may have happened. What type of nonsense is this?

Trader#9E99

Oct 6, 2016 6:48pm

With no warning of an event that caused such type of move & for those that lost money could we start a petition

This is all nonsense...

Trader#AD62

Oct 6, 2016 6:52pm

whats the reason for this crashing???

Trader#22D5

Oct 6, 2016 6:52pm

post # 56 times were typed incorrectly should have been 19:07 to 19:36 EST.

Trader#3237

Oct 6, 2016 7:25pm

BACK TO THE 80s BACK TO THE FUTURE

Trader#3D58

Oct 6, 2016 7:26pm

wow.. what a move.. 880 spread.. it crazy, man.. congrats shorties!

Trader#B121

Oct 6, 2016 7:40pm

I was long with 0.20p per point, was worried about losing 240 quid at one point. then retrace and I was out !!! those guaranteed stops are expensive now !!!!

Trader#923A

Oct 6, 2016 7:45pm

Just check Bloomberg news, Sterling crash was due to an an Algorithm problem, I have to say that something does not add up here!!

Sunny

Trader#BC40

Oct 6, 2016 7:50pm

wtf is goin on here?

Trader#695D

Oct 6, 2016 8:09pm

Quoting Razorman

Disliked

I wonder which brokers will go under this time? FXCM again? Interactive?

Ignored

IB doesn't let clients do leveraged FX anymore without 10mm in assets

Trader#9EDC

Oct 6, 2016 11:26pm

damn, im broke

Trader#7563

Oct 7, 2016 1:42am

Soros in the house

Trader#BF9A

Oct 7, 2016 2:12am

So the GBP is dead - nobody wants to buy it anymore.

Trader#4D23

Oct 7, 2016 2:28am

Reached in some brokers platforms to 1.1460!!

I believe many brokers used the opportunity to hunt their clients sl and quick margin calls!!

Trader#9438

Oct 7, 2016 3:36am

Quoting Almo2312

Disliked

whats the reason for this crashing???

Ignored

George Soros opened a short position!

Trader#561B

Oct 7, 2016 3:38am

Skymania, I see why you are angry, you are simply hedging a trade and you should get on these people and get them to refund the money you lost after the cut your trade

Trader#6BA4

Oct 7, 2016 4:20am

Trend is your friend indeed!

Trader#B094

Oct 7, 2016 7:14am

and took my hard fought CASH US $ 25K with it...what a day!

Trader#E5E9

Oct 8, 2016 2:12am

I was long GBPJPY but had put my SL at BE... Pepperstone honored the SL with 1.5 pips slippage, which considering the event itself, is not too bad at all.

Trader#7225

Oct 8, 2016 10:17am

I was a novice and had not placed sl. My acct of 15k was wiped out with 8k -ve equity! My long gbp was closed out at 1.106. Can you believe it? Do I have any recourse fr my broker?

Trader#8856

Oct 8, 2016 1:42pm

I really feel sorry for traders that were trapped in the murky water of Forex volatility and unpredictability. No thanks to Brexit and its attendant consequence.
Philip

Trader#A458

Oct 9, 2016 3:49pm

Shouldn't some trades be cancelled if down to a fat finger? I was long GBP to USD at 15 points with a stop at 12560 not guaranteed but positions closed at 12000

Trader#22CC

Dec 7, 2016 10:06pm

hi im new here . i just started trading . made a bad move lol like a rookie.. i wanted to know if the market going to hit 143.800

Hidden for breach of Trader Code of Conduct

Hidden for breach of Trader Code of Conduct

Hidden for breach of Trader Code of Conduct

Related Stories

There are no posts to display for these settings.

Story Stats

Oct 6, 2016 6:14pm
Posted by
Newsstand

High Impact Breaking

292

108K