I will continue to warn about this as it is now becoming the norm. There is a significant lack of market makers left and once a major event happens, and the market gets caught badly positioned, we are going to continue to witness wildly gapping markets.
Cable broke above 1.50 and immediately gapped to 1.5150, with nothing in between! And this in a market where a few hours ago it would have taken billions to move it 20/30 pips!
There’s a lot to be said for closing out all positions heading into any risk event and in fact many platforms will start turning off for periods of time before and after (in my opinion).
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