Hi
I was trying to long the GBP today and I got caught on one of the wildest spikes I have ever seen. In a matter of minutes, the GBP fell 300 points and then recovered, wiping out my trade. I thought there must have been some news coming out, but there was nothing.
I am posting the screenshot here. Can anyone help explain what would cause this currency to swing like this?
Roy
there was a suprise figure in the US when the weekly unemployment claims came out yesterday, which tends to effect…gbp/jpy. the figure was alot better than expected.
with this pair though anything can happen and often does…just got to be make sure you are strapped in ready for the ride.
I think what happened is part of “curiosity” necessary to fulfill a higher money plan. GBP is going to disappear, to be assimilated be Euro and therefore GBP/JPY will go like EUR/JPY and GBP will then be replaced by the EUR. And what happened in the picture attached, is a new test at that level. So I recomand you not have surprise too much this pair and their future actions. People have to get used to the idea. Goodbye.
Wasn’t trading, but I saw that spike too. The moves on 31’st made me wish I had traded, because the moves fell into my edges criteria. I could be wrong and probably am. I don’t think the move had anything to do with much else but the fact that it was a holiday.
Just keep in mind that every trade is different from the last, no matter how much it looks like a past trade and that anything can happen.
Could have been a large investment made by a long term trader setting a position for the coming year… who knows.
OK, listen up people, DON’T trade G/J if you are not trading for more than three years because its the trend setter. It should only be traded on the last two trading days of the week(Very predictable then). :eek:
