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Spot The Manipulated FX Market Moment
With regulators finally catching on that banks are manipulating every asset class, the largest of them all - foreign exchange - has come under scrutiny. Most specifically, there is considerable attention being paid to manipulation at the "London Close" around 11amET each day. Judge for yourself - see anything 'odd' around that time of day?
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Must be a trick question... the chart doesn't go back to 2001.
So Pretty
yah, that 11:00 thingie is just a little incidental noise lol!
Drive on, nothing to see here
Apparently youtube drops acid everyday around 11 am. Not sure what it has to do with forex.
I SEE THE MOTHERFUCKING GBP/USD END UP ON TOP AS USUAL......... DAY IN, DAY OUT.
The Brit's have a nasty little habit of causing a fuckload of bullshit, then, shutting the fuck up like kindergarteners, who accidentally started a forest fire.
Kinda like they're doing right now..
True story- I actully started a small fire in the forest when I was in kindergarten. I was caught and punished acoordingly.
I'm sick of all this attention to the manipulation(s). Unless someone is imprisoned, then it is meaningless. Clearly the system is corrupt. I have no intention of investing in it until the criminals are dead.
Criminals don't die, they multiply.
Where's our poster with the Guillotines?
Sorry, sorry, sorry. He's out grabbing coffee right now and asked me to fill in for him....
"Roll the damned guillotines already! Until then, nothing changes."
Some traditions are good.
Looks like a spectrograph of the song "Crazy Train" by Ozzy Osbourne. Am I on to something???
At first I thought it was a graph of the electromagnetic activity around the Wall Street area.
The stock, bond, commodity and currency exchanges have been reduced to gambling dens whereby the more powerful traders with deep pockets move the markets to maximize their own profits at the expense of the remaining not so powerful players. The big boys have enormous money power to move the markets in the direction which results in maximum profits for themselves. They effectively use the media to lure the other players in the market to a position where they would incur maximum loss.
The markets continue to rise till all short positions in the market are covered and the majority of traders move to the long side. Once this is done the market falls till all long positions are closed and short positions undertaken. Then rinse and repeat. The price mechanism has little to do with the actual demand, supply, fundamentals or state of the economy.
www.marketoracle.co.uk/Article40231.html
...And?
Said the same thing back in 1745, Sparky- what's your point?
Movement in fx is almost quietening at that time? Some moves are in reversal short b4 London close?
That FX chart sure shows some weird manipulation. There is this big hole, right in the middle, with a sort of white triangle, wtf sort of algo can make a pattern like that? It sure must be God's work.
Having fleeced the mug punters who else is there left to shaft?
>> who else is there left to shaft?
Gold bugs!!!! You can always shaft gold bugs a little more. Squeal bitches!!!!
looks like an ekg of someone going into seizure ...
Bang the close, baby!
When you have huge volumes of trading which are nothing but sub ms range arbitrage plays between exchanges wouldn't a major discontinuity be a given? Isn't this just a natural by product of HFT?
You could call HFT market manipulation in and of itself of course, but that shouldn't be argued in a roundabout way ... just state it directly.
My thought exactly.
You'd have to expand this out by 100:1 and have some idea of who is making what transaction before you could even begin to point a finger. That is why HFT should be banned: inadequate public audit capability.
Just because you KNOW that Bob is a thief does not mean that Bob is stealing something right.......NOW, even if something mysteriously vanished in that snapshot instant.
Ha! I'm epileptic! Who knew?!
Deja ... Deja ...
I doubt that any of you have ever traded FX professionally for a money center bank, including being a market maker - a term which has a very different meaning in FX where narrow two sided prices are an obligation.
FX is unlike any other market in that banks deal directly with each other by such a two sided quotation request, deal via broker (mostly electronic now), make two sided prices regularly in amounts of $100 to $200M to hedgefunds and other customers - all in addition to trading for their own accounts (either as market makers or position takers). Also, it is quite possible that in some currency pairs a single trader/market makers quote will be the only price known/available in that pair at that time, ie some cross rates or things like Nzd/usd.
When is any market most likely to be volatile? Clearly when large numbers of market participants are likely to be squaring up or trimming positions before going home. London afternoon has the added fun of NY traders and hedgefunds in full swing. Once traders have a sense of which is the weak side every effort will be made to squeeze those players.
In addition, corporates, governments and other entities may also deal at that time or, gasp, cancel orders which have provided backstops during intraday trading.
What you allege as "manipulation" is almost certainly normal trading with a degree of time compression reflecting the increasing use of electronic order and trading systems.
1. There are lots of legitimate reasons to slam the close
2. This video shows consistently greater volumes at 11am which would naturally correlate with greater dislocations at that time.
3. The amount of capital that would be required to rig the close in FX spot markets is disproportionate to the profit potential.
This is an interesting infographic with lots of valid information but it's insufficient to prove - or even indicate - market manipulation.
So they investigate the FX Market that impossible to establish manipulation but overlook Gold where manipulation is obvious