Long Wicked Bar Candles... | Forex Factory

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Long Wicked Bar Candles...

  • #1
  • First Post: Aug 16, 2010 2:48am Aug 16, 2010 2:48am
HI

I just saw my AUD/USD 1 min bar chart and i noticed strange long wicked bar candles with wick of almost 60 pips.. see the chart attached..

what does this mean? does that mean Big boys are buying and when price reaches 60 pip higher .. it get filled by sell orders which pulls back price to its original level... What does this kind of bars actually mean?

Any views from traders here, on this...
Attached Image (click to enlarge)
Click to Enlarge Name: au.gif Size: 28 KB
Anything is possible; everything is negotiable
  • #2
  • Aug 16, 2010 4:02am Aug 16, 2010 4:02am
It looks like there is a problem on your broker's side.
  • #3
  • Aug 16, 2010 5:03am Aug 16, 2010 5:03am
Which broker was this? I had the same thing too but only with 5 candles. I trade with FXCM. The first spike stopped me out.
  • #4
  • Aug 16, 2010 7:29am Aug 16, 2010 7:29am
hi

my broker is fxcm. does anybody else who is having fxcm broker has same problem..? this is a serious mater .. if this happens often.. then our stops are not safe.

So is it a stop hunting exercise by fxcm ( those long wicked bars !! ) other traders please conform whether you had this type of price fluctuation..
Anything is possible; everything is negotiable
  • #5
  • Aug 16, 2010 9:28am Aug 16, 2010 9:28am
Quoting EurekaForex
hi

my broker is fxcm. does anybody else who is having fxcm broker has same problem..? this is a serious mater .. if this happens often.. then our stops are not safe.

So is it a stop hunting exercise by fxcm ( those long wicked bars !! ) other traders please conform whether you had this type of price fluctuation..\
Hello Eurekaforex

The best thing is to call your broker and ask them way this happend and that they must give you the money that you losse on this things.
  • #6
  • Aug 17, 2010 7:57am Aug 17, 2010 7:57am
Quoting EurekaForex
hi

my broker is fxcm. does anybody else who is having fxcm broker has same problem..? this is a serious mater .. if this happens often.. then our stops are not safe.

So is it a stop hunting exercise by fxcm ( those long wicked bars !! ) other traders please conform whether you had this type of price fluctuation..
It's probably an error in thei chart history or did you encounter it in live trading? Did you see the price jumping up that high hitting your SL/TP levels?
  • #7
  • Aug 17, 2010 12:18pm Aug 17, 2010 12:18pm
I had a similar thing on the GBP/USD with FXCM at about the same time. Luckily I was not in a trade at the time.
  • #8
  • Last Post: Aug 17, 2010 11:20pm Aug 17, 2010 11:20pm
Quoting enivid
It's probably an error in thei chart history or did you encounter it in live trading? Did you see the price jumping up that high hitting your SL/TP levels?
hi,

luckily i had no trades at that time ... it is confirmed that it happened cuz of bad tick provided by one of fxcm's liquidity provider .

one of other traders also had similar problem and here is a reply by fxcm representative http://www.forexfactory.com/showthre...t=8960&page=86

its best not to trade in times of low liquidity , like on Sunday opening .. or this types of ticks may happen.
Anything is possible; everything is negotiable
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