Printable View
Hello guys!
Just wanted to ask if someone knows why there's so big wicks on the AUDUSD, if you compere it into eurusd, you will observe that eurusd have much cleaner candles, tough do describe what iam asking, plz take a look if u can. Its the 1h timeframe iam anybody knows why?
Please, check both pairs in tradingview on 1h timesframe, its a HUUUGE difference in the wicks. If you cant view it, allow me to know and I will post pictrures and try to draw to reveal exactly what I mean. .Quote:
Originally Posted by ;
The wicks are larger because price transferred more above or below the open/close. The reason this happens more on less popular pairs is less overall money in the game. Large orders can proceed price faster and at a larger range, because there aren't any sellers/buyers to act as a counter party to the trade.
There is a ton of cash which goes back and forth in the EUR/USD. It elevates the price. And makes smaller wicks as a result...
The two pairs normally move together, but the correlation is never 100%, a few event just influenced the Aussie more, and buyers shot over. I had been briefly short this week maybe 1/2 day, then reversed and happen to be long. Staying that way until the buyers lose control.
thx VERY much for your article, this was exactly what I thougt, today I KNOW! THANKS!Quote:
Originally Posted by ;
With other words it is possible to say its less liqudity right?
Yep.Quote:
Originally Posted by ;
Price action on AUDUSD is nothing out of the ordinary. Long lower or upper wicks just signify price hitting and rebounding from (rejection of) a support or resistance level within the whole period of that particular candle. If you care to check earlier H1 history on EURUSD, you will see similar long upper/lower wicks.