im a bit disappointed i missed the 9.30 retail sales,internet down,but looking at 1 minute chart its identical to yesterdays pattern and subsequent drop,would have liked to have watched quotes leading into this,agin these maybe coincidental but theirs defiantly a pattern there.
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The PA after the data was little bit strange. GBPUSD dropped like a stone but bounced back.
hi srmfx,when you say the pa after that announcement was strange and bounced back.was you watching the quote price ?the reason i ask for,is yesterdays drop after yesterdays jobless figures was quick but reasonably solid,thats why i didnt trade it back up for a quick fill to close the vacuum,if the drop has gapping holes in it i look to fill it,
but my interest lies in the 5 to 10 minutes leading into these announcements,ive been logging the way the quotes read,trying to determine if i can enter prior to release,i know it sounds ilogical,but their defiantly seems a certain type of pattern in price seen in the quote,as i said earlier it maybe coincidental but,and i say but again ,some of my most profitable set ups come from the most illogical reasons.
hi srmfx,when you say the pa after that announcement was strange and bounced back.was you watching the quote price ?the reason i ask for,is yesterdays drop after yesterdays jobless figures was quick but reasonably solid,thats why i didnt trade it back up for a quick fill to close the vacuum,if the drop has gapping holes in it i look to fill it,
but my interest lies in the 5 to 10 minutes leading into these announcements,ive been logging the way the quotes read,trying to determine if i can enter prior to release,i know it sounds ilogical,but their...
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I know what you mean but don't have any particular set up for news trading.
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Joined Jun 2006
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Status: What, NO STOPS !!
|430 Posts
diceman
"it sounds illogical"
I don't think it does. I think you are spot on.
What sounds illogical to me is to think that there are no leaks and nobody knows what the numbers are going to be before hand. For that to be the case then there would have to be nobody making copies of the forms the numbers are on before they are released. The people in charge of signing off on these numbers would have to do all there own typing and compelation. AND God forbid no politicians could see the numbers before they are released.
Sometimes I think the money starts to flow a lot longer than a few minutes before the announcement.
Sometimes I think the money starts to flow a lot longer than a few minutes before the announcement.
yes i couldnt agree more with you.ive never really concentrated on price leading into the announcements ,but recently i have been watching the quote prices .interestingly there seems to be a pattern of price,thanks for the encouragement
hi bapxyz Sometimes I think the money starts to flow a lot longer than a few minutes before the announcement.
yes i couldnt agree more with you.ive never really concentrated on price leading into the announcements ,but recently i have been watching the quote prices .interestingly there seems to be a pattern of price,thanks for the encouragement
regards
william
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I was trading actively economic data a few years ago and I've seen many times the price jumping in the right direction seconds before the release. Sometimes it is possible to guess in advance what will come out, but other moves are suspicious.
hi srmfx,when you say the pa after that announcement was strange and bounced back.was you watching the quote price ?the reason i ask for,is yesterdays drop after yesterdays jobless figures was quick but reasonably solid,thats why i didnt trade it back up for a quick fill to close the vacuum,if the drop has gapping holes in it i look to fill it,
but my interest lies in the 5 to 10 minutes leading into these announcements,ive been logging the way the quotes read,trying to determine if i can enter prior to release,i know it sounds ilogical,but their...
Ignored
Hi Diceman,
I'd be interested to know more about these "gapping holes" you describe. Are they big jumps in the quotes? I guess they can't be seen on any chart?
to answer your question ,sometimes they show on the small time frames,
an extreme example is after announcements when price falls 70 80 pips on a minute candle,as it searches for liquidity.on the chart it appears as a just a long down candle,but on the quote you see 3 and 4 pip gaps it skips down missing prices,then generally fills back very quickly and retraces 50 % as thats usually were it starts skipping,then it will carry on back down with more solid quotes.i watch my 14 pairs at this point to see if this sentiment is reflected overall,if everything else remains more stable its an overreaction or skim ,in which case the relevant pair comes back in line.
on a more subtle example around s/r price on quote can tell me that the sellers are all in,a bit like exhaustion gaps on a stock chart.
i would think you are on this eu trade,im on cable long and ft,just to clarify my misprint on cable level,16106 to even no,sorry for confusion.
regards
william
im closing 1 position on ftse at 78 level.32 pips,my secon position i have target of 88,which as i type this has just touched so im closed on both 42 pips on second positon
to answer your question ,sometimes they show on the small time frames,
an extreme example is after announcements when price falls 70 80 pips on a minute candle,as it searches for liquidity.on the chart it appears as a just a long down candle,but on the quote you see 3 and 4 pip gaps it skips down missing prices,then generally fills back very quickly and retraces 50 % as thats usually were it starts skipping,then it will carry on back down with more solid quotes.i watch my 14 pairs at this point to see if this sentiment is reflected overall,if...
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Thanks William, that's great. I'll watch out for those missed prices if I can.
Well done on that trade. I missed the boat on EU (as usual).
i would think you are on this eu trade,im on cable long and ft,just to clarify my misprint on cable level,16106 to even no,sorry for confusion.
regards
william
