What is a good time to trade during news? First of all, trading is more like an art than science, there's no precise answer to that. Currency pairs move based on the discrepancy between the prediction of the news release and the actual news release. Normally we should wait 5-15 minutes after the breakout, to see whether the price action reacts in line with the news fundamentally. However, we traders should be aware of any knee-jerk reactions as it can happen, especially during Fridays when big funds start unwinding their huge long/short positions. This happens when initially price reacts accordingly, only to reverse course shortly due to profit-taking kicking in or just out-of-steam..5-M, 10-M and 15-M chart are recommended for trading during news though.
Pivot points for tomorrow;
R2 = 1.3550
R1 = 1.3529
PP = 1.3496
S1 = 1.3475
S2 = 1.3442
I see bullish divergence sign both in 1-H and 4-H charts.
Trade ideas: buy 1.3465, 1.3480, sell 1.3530, 1.3555
Learn to let it go if you happened to miss out the opportunity to trade..
1 comment:
I always like news trading, now im doing straddle technique(almost every red level news), which mean using 10 -15 pips running price before news.. news trapping..
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