Second time in two weeks. Trading in the asian session, shorting a pair. The one minute candle jumps 35 pips and busts my stoploss. This is appearing often, always around 35 pips and always on the hour or half hour.
Does this carry any significance as far as prediction of future movement? If I were the bank or entity behind this obvious attempt to bust stops and exit traders from the market, it would be done for a reason. A 35 pip jump isn’t arbitrary, there is a reason behind it. And the timing is just too perfect; on the half hour and only on the minute candle, then resumes within 1-2 pips of where it started.
If its the same time and on the hour or half hour, I will be so bold as to suggest its a news release. You should check the release schedule before entering the trade.
Sorry, I was flat on my back with a flu for a couple of weeks. I will update with pictures when this happens again. I’d otherwise have to scroll back to feb 8 when this last occurred. It’s very common, I’ll post again in the next day or so when it happens. I believe the terminology is “stop loss hunting”. I’d like target the times and pairs if possible and build in a stop loss cushion. BTW, I use FINFX for a broker.