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Why was the candle incorrect on the chart?

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Question
Why was the candle incorrect on the chart?

Answer

This happens due to the rollover. At this time, most liquidity providers adjust their open positions. In order to do this they stop quoting, and as result liquidity becomes thinner and spreads widen. Usually, the rollover takes around 5 minutes between 23.58-00.03 server time. As a result of the spread increasing, and the fact that MetaTrader charts are BID based, you can see this candle. Even though the rollover takes place every day, liquidity differs from day to day. A similar situation takes a place at the begging of the trading session on Monday and the close of trading session on Friday. Please keep this in mind and adjust your positions accordingly.   


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Views: 709 Created on: Apr 11, 2017
Date updated: Apr 13, 2017
Posted in: Trading platform

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