Hi,
I'm fairly new to FX trading - and was watching the GBPUSD this am. I am also UK based, so times on chart below are GMT (1 min timescale):
http://www.chambers-media.com/fxrise.png
I was looking at short trades around 9:15am (black circled area), then at 09:30 saw a huge rise with three green candles (red circled). If I was short I could have been wiped out - even with a stop loss, as it may not have been triggered in time.
Could this rise be due to an FX news announcement? If so, how would I keep out of the market in future to avoid these unpredictable times?
Thanks,
Alex
I'm fairly new to FX trading - and was watching the GBPUSD this am. I am also UK based, so times on chart below are GMT (1 min timescale):
http://www.chambers-media.com/fxrise.png
I was looking at short trades around 9:15am (black circled area), then at 09:30 saw a huge rise with three green candles (red circled). If I was short I could have been wiped out - even with a stop loss, as it may not have been triggered in time.
Could this rise be due to an FX news announcement? If so, how would I keep out of the market in future to avoid these unpredictable times?
Thanks,
Alex