Standard & Poor downgraded UK outlook from stable to negative and we got this market action. Notice that it happened six minutes before usual gbp news time, so many traders could be in the trades. When I trade I regularly pull stops 100 or maybe more pips away from the market if it's near my stop level and I'm not going to take it. I just drag red line of stop on Oanda chart somewhere "safe". There was 70 pips drop in first minute, two minutes of indecision or getting what is going on and than 120 pips down in next two minutes. All before news time, drop of 200 pips.
Every year there are few occasions like this. In day to day trading we get used to what is normal and forget about this and ignore it because it's rare enough. Well is it? So next time when I move my stop I'm taking a slight chance to experience something similar.
I didn't want to trade today, I'm little burned out. Well maybe sixth sense kept me out.
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