It also happens to be Forex Landmine Awareness Day

It’s International Landmine Awareness Day and the forex market is hell bent on reminding everyone.

If you stepped on 1.2750 and sold EUR/USD, your account exploded.

EURUSD landmine

You don’t even want to know what happened if you sold EUR/JPY at 119.30.

In general, I find it good practice to be aware of landmines on most, if not all days.

Author: Adam Button

Adam Button is the editor of ForexLive™. He was previously the chief currency strategist at XForex and has also worked with Intermarket Strategy. Adam believes deeply in the value of knowing every tidbit of news. He has a background in journalism and was formerly the head of the markets team at the Canadian Economic Press. He is a graduate of Ryerson University and completed Level 1 of the CFA program. Adam lives in Montreal, follow him on Twitter: @FX_Button.

21 Comments

  1. I’ve stepped a landmine in cable!!! Just wait a few more pips and I should be kicked out and you can safely short the cable…

    :(

  2. I had sell stop at 1.2745… I am not proud of this order :)
    My spread was not covered even for one second…
    The only, relatively good thing was SL 30 pips higher..
    it could have been much worse

    USD/JPY – maybe some Friday profit taking at the the level of 96.70?
    I know it is against the trend but it is difficult to buy long after such storm.

  3. Very good day for forex trading ! No every day is the same as today :)

  4. I think this is the best place to put my question…With all the boom-ing going around today, any trading ideas short/long ?

  5. I’m surprised that you guys aren’t covering cable and gbp/jpy more. Cable has retraced over 200pips and gbp/jpy has moved over 600pips!

  6. What about GBP/JPY? It rose today more than any other pair , 600 pips))

  7. soon we can see SNB in action defending the 1.20. What do you think Adam. Are they going to let it down to 1.20 or they will start at 1.21?

  8. Such impuls can change the trend up for eur/usd … i think tommorrow must knock 1.3000

  9. They’ll start before 1.2000. Tough to say how much more but buying is tempting.

  10. Surely traders use a SL?

  11. Headline warning from the Financial Time:

    ECB signals rate cut on the agenda

    http://www.ft.com/home/uk

  12. Adam what do you expect for tommorrow after this buying of eur/usd

  13. It’s a good thing I was off today, as I would have been run over like a deer in headlights. I’ll wait a couple more days with my shorts for the smoke to come down some.

  14. I don’t see the attraction in buying EUR. I’d fade it but today’s isn’t the day to be talking about fading anything. You never know when moves like this will end.

  15. “If you stepped on 1.2750 and sold EUR/USD, your account exploded. You don’t even want to know what happened if you sold EUR/JPY at 119.30.”
    ^^^ cracked me up big time…I literally “lol”led

    For all those years past that forex steadily ripped me apart, today, this very day, seems like it has made up for all that hammering.

  16. I bought eur at 1.2770 and sold at 1.2870:)
    And then short sell at 1.2880 and now this storm:(

  17. For the patient, fade the USD/Yen at the big 100

  18. re- kris – better not to trade usd/jpy for a while, its in a bubble of its own
    just look at fading eur gbp moves,their data was crap whole this week, dont know how they went up 200 pips

  19. Ditto with audusd, outstanding data all week then poof. Its as if all the fund managers suddenly switched their funding currency to yen all at once.

  20. my best week in many months eur/yen…..so the landmine was gr8

  21. I stepped on a BUY position USDJPY at 93 and the ‘landmine’ sent me up towards (almost) 100. Now a bit annoyed that the technical traders are hell bent upon bringing the USDJPY down to ‘close the gap’.. sigh

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