usd/jpy

[Sejake]

Anyone watching USD/JPY short?? Looking interesting.

[ClaphamTrader]

I had an a Sell order placed at 118.24 this morning with IG Index.
At 09:59 the price seemed to spike down from around 118.43 to 118.22 and straight back up again and later hits my StopLoss:mad: .

IG claim this spike was caused by some JPY news and it was valid.
Looks like a duff price feed to me as I can't find similar price spikes in any of EUR/JPY, GBP/JPY or CHF/JPY.

Did anyone else get triggered by this price spike with their brokers?
Would be interesting to know if your broker also claims this was a valid price?

CT

[NHN123]

I had an a Sell order placed at 118.24 this morning with IG Index.
At 09:59 the price seemed to spike down from around 118.43 to 118.22 and straight back up again and later hits my StopLoss:mad: .

IG claim this spike was caused by some JPY news and it was valid.
Looks like a duff price feed to me as I can't find similar price spikes in any of EUR/JPY, GBP/JPY or CHF/JPY.

Did anyone else get triggered by this price spike with their brokers?
Would be interesting to know if your broker also claims this was a valid price?

CT

No way!!!

My prices went no where near that on any of my platforms (and I have several)!!!

[ClaphamTrader]

Hi NHN123,

Can you tell me what platforms you are using?

I also have an MT4 Alpari-Demo feed that shows the Spike, albeit timed at 10:59 as they use european time.
Seems Alpari an IG have the same duff price feed.

Any help to strenghtn my case with IG Index appreciated.

CT

[ClaphamTrader]

No way!!!

My prices went no where near that on any of my platforms (and I have several)!!!

I've re-stated my case and IG have agreed to reverse my trade:) .
Looks like I might've just got an obsitnate dealer the 1st time around who was too lazy to want to look into this.
The second guy was much more accomodating.

Thanks for confirming your prices.
CT

[NHN123]

I've re-stated my case and IG have agreed to reverse my trade:) .
Looks like I might've just got an obsitnate dealer the 1st time around who was too lazy to want to look into this.
The second guy was much more accomodating.

Thanks for confirming your prices.
CT

No probs.

I have SaxoTrader, CMC spreadbet, SBFX, Tradestation..... no prices spike on any....

glad you sorted it

[ClaphamTrader]

Looks like there might be another potential SHORT setup here.

http://www.mtptrader.com/d:\USDJPY_4H.jpg

[NHN123]

Looks like there might be another potential SHORT setup here.

http://www.mtptrader.com/d:\USDJPY_4H.jpg
can't see the picture....

[ClaphamTrader]

Triggered at 118.46

(I'll post up the chart once I've figgured out how to upload it:confused: )

[NHN123]

Triggered at 118.46

(I'll post up the chart once I've figgured out how to upload it:confused: )

Is it an ABCDE correction?

I'm not very experienced with these, and the typ wave E WPT is above the high of the impulsive move down, so if it went up there, it would have been invalid anyway....

[ClaphamTrader]

Is it an ABCDE correction?

I'm not very experienced with these, and the typ wave E WPT is above the high of the impulsive move down, so if it went up there, it would have been invalid anyway....

I'm having problems with my broadband connection and currently using another PC with no MTP so can't post the charts. Will post the charts up later to show you what I mean.

This is probably not a strict MTP play. One of the reasons I wnet for this is also that a spotted an inverted "cup & handle" forming with the handle at a good fib retracement level which supported the bearish argument. It's a pattern that seems to work well for stock day trading (so I'm told), so I thought it was worth a shot.

It soon broke down nicely down to about 118.26 and now retracing a bit.
My StopLoss is close to entry at 118.54 as if it goes back up there, the cup & handle are invalidated.
If I'm wrong, I only lose 10 pips and not 40:p

I'll try and get the charts up later.