GBPUSD - does this look like a move during news? | Forex Factory

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GBPUSD - does this look like a move during news?

  • #1
  • First Post: May 22, 2008 4:25am May 22, 2008 4:25am
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
  • #2
  • May 22, 2008 4:31am May 22, 2008 4:31am
Quoting dac_uk
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):



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
yes bro
this was purely fundamental

retail sales
u have to always take fundamentals into consideration
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #3
  • May 22, 2008 5:13am May 22, 2008 5:13am
OK, thanks.

Is there a way of finding these dates/times in advance so I know not to trade at xx:xx time on yy date?
  • #4
  • May 22, 2008 5:42am May 22, 2008 5:42am
Are you using Amibroker with IB?
what your opinion, notes?

especially for EOD trading


Thanks in advance
  • #5
  • May 22, 2008 8:18am May 22, 2008 8:18am
Amibroker is a good product. However, the IB feed is a bit patchy - Thomasz (AB creator) says this is not AB but IB limiting data bandwidth.

EOD trading fine - I use Amiquote to download from Yahoo/Google finance for stocks. For FX I use IB with 1min data feed - sometimes bars are not updated in realtime and you have to keep clicking "Reconnect". I wouldn't use IB/AB for 1min realtime, but EOD is fine.
  • #6
  • May 22, 2008 11:15am May 22, 2008 11:15am
Quoting dac_uk
OK, thanks.

Is there a way of finding these dates/times in advance so I know not to trade at xx:xx time on yy date?
Click the calendar tab at the top of this page.
  • #7
  • Last Post: May 22, 2008 6:29pm May 22, 2008 6:29pm
Right above your thread Intro.

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GBPUSD - does this look like a move during news?
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