After a big data move, EURJPY sometimes enters a phase where buyers and sellers are both active and price swings back and forth in a range. Recognising that "two-way" phase early can prevent losses from trend-following entries.
Signs of two-way price:
- Candles alternate between bullish and bearish frequently.
- Wicks on both sides of candles.
- New highs and lows are made but don't extend.
- The range of the last five candles is similar to the range of the last fifteen.
What it usually means: the initial reaction is being questioned. Some participants are taking profit, others are entering on the reverse view. Neither side is in control.
Options:
1. Stand aside until a side wins and a clear break occurs.
2. Trade the range edges with small targets.
3. Wait for the range to compress further, which often precedes the next directional move.
The common mistake is entering on each "breakout" of the two-way range, which keeps getting reversed.
How long do you usually wait for two-way price to resolve after news?
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Recognising two-way price after news on EURJPY M1
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FXS London Scalper
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Recognising two-way price after news on EURJPY M1
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Shadow Trader
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Re: Recognising two-way price after news on EURJPY M1
On a big data release, the quote on the screen and the price available are two different things. Spreads may show 3 pips, but the order book beneath that quote is empty. Trying to hit the price returns a requote, a rejection, or a fill several pips away.
This is the quoted-but-not-tradable problem. The feed keeps publishing prices, because that's what feeds do, but the liquidity providers have pulled the size behind them. A few providers may leave a minimal clip at a wide price, and the broker passes through whatever is available.
It makes the headline spread number misleading. A broker advertising fixed 1 pip spreads may still deliver nothing at that price during the first ten seconds after the number.
The reverse also happens: a scalper sees a 15 pip spread, assumes nothing can be done, and misses a clean move that develops 30 seconds later when quotes normalize.
Timing matters more than direction. The first moments are a lottery. The minutes after are where the actual information is.
What's the shortest time after a major release that spreads have been reliable enough to trade on the broker used here?
This is the quoted-but-not-tradable problem. The feed keeps publishing prices, because that's what feeds do, but the liquidity providers have pulled the size behind them. A few providers may leave a minimal clip at a wide price, and the broker passes through whatever is available.
It makes the headline spread number misleading. A broker advertising fixed 1 pip spreads may still deliver nothing at that price during the first ten seconds after the number.
The reverse also happens: a scalper sees a 15 pip spread, assumes nothing can be done, and misses a clean move that develops 30 seconds later when quotes normalize.
Timing matters more than direction. The first moments are a lottery. The minutes after are where the actual information is.
What's the shortest time after a major release that spreads have been reliable enough to trade on the broker used here?