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  • #1,104,081
  • Apr 17, 2017 3:09am Apr 17, 2017 3:09am
A 30 pips move on 1 m5 candle is not normal... without any news for this pair... it's bank holiday across Europe, there is no liquidity all Europe and London banks are closed... we are in their sessions
  • #1,104,082
  • Apr 17, 2017 3:12am Apr 17, 2017 3:12am
Quoting on64
Hey guys I have a question for the more experienced veterans around here. What's up with those random big movements like the one that happened minutes ago? There were no news in the calendar and today "was supposed to be" a quite day because of the EU banks holiday right?
First of all it was a 30 pip move and that actually is not a big move for timeframes higher than 1H. So I am guessing you are trading one of the small timeframes like 5 minute etc. But still let's answer your question: Why there are sudden moves in the markets even on bank holidays?

To answer your question we have to start asking another question first: How much money added to or removed from the market moves the market 1 pip higher or lower? In other words how many lots must a market mover buy or sell to move market 1 pip?

The answer depends on "Pending Orders" and "Domino Effect" which are waiting in the direction the market mover is putting his money. Because if nobody is buying what you are selling then there is no trade and therefore no movement. Since in forex markets there are always buyers or sellers on the other side your order no matter how big will get filled anyway.

If your order (let's say if you just sell or buy 0.1 lot of EURO) triggers another traders pending order which then triggers another traders pending order and so on and so forth that creates a domino effect the market can make sudden moves. I have to repeat: We can't exactly know how many million dollars can move market 1 pip because it depends on the amount and position of pending orders.

Said that, even on partial bank holidays like today (where some countries' banks are closed but others are still open) the big money might have put pending orders or take profit levels or stop loss levels here and there. Once some traders reach that threshold to touch one of these pending order levels they get filled and might create a chain reaction --> a.k.a. Domino Effect and market moves or makes sudden spikes.

Therefore you always should be aware of important support and resistance levels for the currency you are trading. That's why I recommend new traders to study support and resistance first. Without that component you will be trading almost blindfolded.

I hope it clears your question.

Stay Green
Focus only on what truly matters!
  • #1,104,083
  • Apr 17, 2017 3:13am Apr 17, 2017 3:13am
Quoting on64
Hey guys I have a question for the more experienced veterans around here. What's up with those random big movements like the one that happened minutes ago? There were no news in the calendar and today "was supposed to be" a quite day because of the EU banks holiday right?
Maybe it was the London break up robot/EA trader forgot to switch off before going for the holiday.
Self discipline It is a practice
  • #1,104,084
  • Apr 17, 2017 3:20am Apr 17, 2017 3:20am
Quoting suthmo
! {quote}If they think it's rough in the pit wait till the internet flame wars begin! )
screen trading is lot tougher and many pit traders were not able to make the switch

electronic trading is way better but pit trading has one advantage over screen trading : the live interaction and contact with other traders , dealing with real people avoiding the loneliness of dealing with a computer
  • #1,104,085
  • Apr 17, 2017 3:34am Apr 17, 2017 3:34am
Algo's don't sleep
but again, 30 pips is not "a move" caused by big money.
Ata explained it very good.
What actualy moves it is when -really- large orders get filled and caused by this small move masses of orders into the opposite direction get closed and "fall out" of the market, which gives momentum to the move.
What really causes a move is someone picks up the phone and makes a decision, like "I don't like Yen anymore, ship to Europe", and that is not an intraday 30 pip thing.

Also, you can see some first "shakes" setting in on the DOW since weeks, well expected when trading around 20k-21k...
you are not expected to understand this
  • #1,104,086
  • Apr 17, 2017 3:36am Apr 17, 2017 3:36am
Quoting jusstin911
My plan for Next week Good Luck to me... Happy Easter Holidays Everyone {image}
damnn I missed the bull spike..

Since price is back under my sell level, I will love to see the next HOUR close for better decision

Good luck everyone
  • #1,104,087
  • Apr 17, 2017 4:30am Apr 17, 2017 4:30am
Quoting okshop
{quote} Its the LONDON session opening happens nearly every day. EU TODAY'S TECHNICAL LEVEL: Breakout BUY Level: 1.0660. Strong Resistance: 1.0653. Original Resistance: 1.0643. Inner Sell Area: 1.0633. Target Inner Area: 1.0608. Inner Buy Area: 1.0583. Original Support: 1.0573. Strong Support: 1.0563. Breakout SELL Level: 1.0556.
Spotlight focused on Eu debts and fragile banks => EU may not up!
  • #1,104,088
  • Apr 17, 2017 4:43am Apr 17, 2017 4:43am
After starring at these charts for a few mins and considering the bank holiday, I don't think we will have any reasonable move today.. might just be a range between -
1.0602 - 1.0634

Hopefully I get the close I need just under 1.0634 to position myself.. for now, im scalping
  • #1,104,089
  • Apr 17, 2017 5:34am Apr 17, 2017 5:34am
Selling the euro would definitely be a wise choice but selling the euro $ might not be all rewarding, am waiting for pull back on eurjpy and eurgbp for selling opportunities, basically this is trading on currencies with the strongest momentum. I'll recommend waiting until the holidays over which is tomorrow for more reliable entries/ price action.
  • #1,104,090
  • Apr 17, 2017 5:40am Apr 17, 2017 5:40am
Quoting ohakaba
Selling the euro would definitely be a wise choice but selling the euro $ might not be all rewarding, am waiting for pull back on eurjpy and eurgbp for selling opportunities, basically this is trading on currencies with the strongest momentum. I'll recommend waiting until the holidays over which is tomorrow for more reliable entries/ price action.
Yes, selling it is not a wise decision for now until it closes below 1.0610 on the 4HR or daily
This is not investment/trading advise. Will not hold accountable for loss
  • #1,104,091
  • Apr 17, 2017 6:16am Apr 17, 2017 6:16am
Quoting Don96
A 30 pips move on 1 m5 candle is not normal... without any news for this pair... it's bank holiday across Europe, there is no liquidity all Europe and London banks are closed... we are in their sessions
Don't you think it's precisely because it's a bank holiday that the moves will be more erratic?
  • #1,104,092
  • Apr 17, 2017 6:35am Apr 17, 2017 6:35am
Good morning. Anyone think EUR/USD goes to last week's high this week. Low volume and EUR/USD is moving up nice and slow to 1.0640 with no resistance.
  • #1,104,093
  • Apr 17, 2017 6:46am Apr 17, 2017 6:46am
Illusion of free will by variable ratios, it's laws are immutable don't u know.
You might be confused and thinking it's random. But realize it's fixed and you'll start to make mon.
Founder of Sutherland Wave Principle
  • #1,104,094
  • Apr 17, 2017 7:09am Apr 17, 2017 7:09am
WELCOME TO 1.08+ in the next two week
  • #1,104,095
  • Apr 17, 2017 7:16am Apr 17, 2017 7:16am
Eurjpy is on my radar am looking to sell although this is holiday season so risk less on any order.
  • #1,104,096
  • Apr 17, 2017 7:35am Apr 17, 2017 7:35am
Gold is gaining nice momentum off the 1290 price tag currently 1287.44
DJIA has yet to step down to expected 2022X and may continue up from now double tap of 12415 handle. Internally the sub wave structure counts still 2 more swings to go, down to target.
Euro has met estimated support and extension of 0618 forming a two period reversal. Second attack of 0650 underway.

Spartans hold
Founder of Sutherland Wave Principle
  • #1,104,097
  • Apr 17, 2017 7:54am Apr 17, 2017 7:54am
a cazzo di cane, altro che PA o TA...
  • #1,104,098
  • Apr 17, 2017 8:03am Apr 17, 2017 8:03am
pending short near 1.07 area

lack of liquidity is creating these spikes for me to short
Don't Worry Be Happy
  • #1,104,099
  • Edited 9:43pm Apr 17, 2017 8:11am | Edited 9:43pm
Quoting wukatrades
{quote} Me too, closed my longs. Feel like the momentum down is seriously way to strong atm. Short all the way! After 3 news against the USD the pressure keeps pushing it down for some magical ass reason. I have to assume momentum will continue down. Good luck everyone and enjoy your weekend!
HAHAHAHAH took a contrarian statement from me to send this pair to the NORTH!...obvioulsy I know it wasn't a direct cause but it's funny to think. Please don't be mistaken hell no I did not short the pair near end of Friday's close that's dumb as hell and from my past post you know trend following is rarely my style BABY. I was infact holding my longs hoping for a gap up. LMAO. in profit now and holding
  • #1,104,100
  • Apr 17, 2017 8:21am Apr 17, 2017 8:21am
Quoting MrPresident
{quote} why would it skyrocket when the fundamentals are bearish? this pair can't even close above 1.063 and the pressure is to the downside towards 1.05.
1.unemployment rate declines in EU
2.shift in ECB forward guidance
3.lack of progress for Marine Le Pen in opinion polls
4.shift in long-term portfolio investments in EU
5.Trump' failure of the American Health Care
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