"Mid Day" or Noon is just when London and (1/2hr) before Europe stop trading.
What you are likely referring to is a "slow" meaning no Economic reports coming out, no "speakers", no "events", nothing happening where the volume is lighter anyway due to London closing partly and others that just stop trading at 12pm for this reason exit.
When the market is sort of floating like this and trading on techs mainly, it is not really manipulation, what they mean is for instance JPM places a 500 mil order to buy AUD/USD for example not a major, not an exotic, the price will move. So essentially they can push the market around in their favor.
This can happen more so with certain commodities, where if it were legal, one large firm or bank could essentially corner the market and move the price.
Yet, they are not able to hold over a certain amount of contracts depending on the commodity.
Another good example is comparison in price action and smoothness to say EUR/USD to GBP/USD when the two pairs are positively correlated on a "slow"
day. For instance, EUR may move 10 pips while GBP may move 35 due to the thinner volume. Everyone trades the EUR so as someone else had mentioned it is harder to sway it due to the amount of constant open interest.
What you are likely referring to is a "slow" meaning no Economic reports coming out, no "speakers", no "events", nothing happening where the volume is lighter anyway due to London closing partly and others that just stop trading at 12pm for this reason exit.
When the market is sort of floating like this and trading on techs mainly, it is not really manipulation, what they mean is for instance JPM places a 500 mil order to buy AUD/USD for example not a major, not an exotic, the price will move. So essentially they can push the market around in their favor.
This can happen more so with certain commodities, where if it were legal, one large firm or bank could essentially corner the market and move the price.
Yet, they are not able to hold over a certain amount of contracts depending on the commodity.
Another good example is comparison in price action and smoothness to say EUR/USD to GBP/USD when the two pairs are positively correlated on a "slow"
day. For instance, EUR may move 10 pips while GBP may move 35 due to the thinner volume. Everyone trades the EUR so as someone else had mentioned it is harder to sway it due to the amount of constant open interest.
DislikedWhen trading mid day (U.S.) during periods of low volume and low volatility I've heard "experts" say not to trade because the market is too easily and commonly manipulated. Does anyone have experience with this?Ignored
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News