Weird pattern 1 min chart AUD/USD

May 15th, 2012, 09:34 AM

Just looking at the 1 min $AUD-USD

I've not seen this before...

Can anyone in the know explain what just happened with the weird pattern that built up at the 1.000 mark, is it just stop and limit orders firing off?

Cheers

May 15th, 2012, 06:35 PM

The pattern tells you that you are trading a quote driven market, and that you are paying an exorbitant spread.

Your broker trades against you.

Change your broker. Select an ECN broker.

Below is the pattern as it would have looked on an order driven market.

May 16th, 2012, 08:47 AM

Wow, thanks for the info.

As it happens, I don't use this data feed provider as a broker. I only use them because I like the charting package. Their feed is normally 1:1 with my actual broker give or take a tick and I monitor it closley.

That's the first time I have seen a noticable difference, but it's not like I've been doing this for years...

Thanks again for your time.

Weird pattern 1 min chart AUD/USD

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Weird pattern 1 min chart AUD/USD