Trying to apply pure technical analysis in crossed pairs without understanding how they are calculated is a base error. GBP/NZD is not an isolated instrument, it is the result of two prices moving in different directions.
Trying to apply pure technical analysis in crossed pairs without understanding how they are calculated is a base error. GBP/NZD is not an isolated instrument, it is the result of two prices moving in different directions.
The "price" looks like all times, but that doesn't mean the forces behind it are the same. The context changes everything. A graph is just a reflection, not the cause.
What really moves the price in any framework is the same: supply against demand. Everything else is packaging.
Liquidity does not move the value of a currency, it only determines how it moves. For example, the JPY fell 4,000 pips after Abe's victory in 2012. Was it lack of liquidity or fundamental change?
The GBP/NZD is simply the ratio between GBP/USD and NZD/USD. If either moves, the crossing changes. It is simple.
In the daily chart the price bounced right in a key area. “It was a clear opportunity to buy. There was nothing unusual there.”
The GBP/NZD breakout was 5 hours before the "spike." It had been in an upward trend all week. There was no reason to be short.
The sushi roll pattern was confirmed on January 5. Google it. I was warning that the price would rise.
In Forex, brokers can do whatever they want. It’s not a regulated market.
I caused a similar spy in a local market unintentionally. I sent a market order instead of a limit, and I burst the price. Sometimes it’s not manipulation, just human error.
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