Trade not closed at TP level, what's going on?

See the image below.

Does anyone tell me why?

Hi Rookiekan


t/p or s/l (or pending orders) do not mean you are guaranteed to be out of the market at that price (unless you pay a premium for such a guarantee), when your price is triggered you go in the queue to be processed and you will be out/in at best market price then, so sometimes in a fast moving or busy market you may not be out at the price you specified, more often than not you will get your price but as in this case I suspect this is what has happened.


Regards


Phil.

Actually limit orders aren't supposed to be filled at the market price, that's just the way it happens with spot forex and other otc markets.

When you have a sell order, and you set a take profit. It must be bought which is a buy on current live rate. You must find a buyer, which your broker will do it for you either with the liquidity provider's channel or they are dealing directly with u, they find a buyer for you or buy themselves.

Earlier, your sell missed the take profit due to your broker / liquidity provider experienced slippage during high volatility period when massive amount of volume are in the market pushing prices much faster than they could be read / quoted. So it slipped to the next possible reading on the seconds itself which your broker or the liquidity provider managed to get a buyer for your sell order @ the lower price stated. If i am not wrong, it should be doing the IFO's result.

This can also happened if you placed a stop loss @ 1.2970, that it could be slipped to 1.2960 at the next possible reading, resulting in your losses for another - 10 pips instead.

Unless you are using an exchange and direct buy sell. Most brokers will experience slippage and re quotes.

So count yourself lucky , that the volatility drive prices to the next take profit level.

Sell order must be closed by Ask price. You don't see usually this price on the graph (except the situation when you turned on the Ask graph). If the spread is wide, it can be tricky.

The market is so liquid/volatile that between the price hits your order and your broker sends out the order to exchange, the price may change, sometimes significantly. This is defined as "slippage". And this is based on the assumption that your broker doesn't re-quote, which means"manipulate the price they give you and not showing you what they see from exchange". Slippage can be hurting sometimes so be prepared.

I have faced this thing when my SL was not hit at the set level and I understand that it happened due to gap. Normally TP are hit in volatile market or gap but this is strange thing to notice.