Hi Everyone,
I’m trading on a demo account and have been trading the one minute time frames, but this question applies to longer time frames as well.
I was looking at the patterns and saw an opportunity for a quick scalping SELL, so I traded with 1.00 leverage, and then BOOM!! The price spiked UPWARDS not down as the trend lines were predicting.
It happened around 9am Japan time, and 11am AEST but I had been trading for a few hours before this.
Was there a major policy announcement that I may have missed??
I’m currently going long on the position and it is around -$1029 … good thing it is on a demo account.
I’m using MT4 and getting used to the platform as well as testing strategies before hopefully going live after a few months.
Does anyone know why the sudden jump in the price?? It has continued to climb slowly after the sudden spike and have steady growth.
Should I close my long position early and cut my losses ??