WRONG!! Then comes the PERCEIVED confirmation of existing, or change of. Have you witnessed where good news is bad and bad news is good? Or when buy the rumor sell the fact failed?
I've never witnessed how major good/bad news worked in the opposite direction. I've only seen where it was overshadowed by something else.
My way is simple, having two accounts, one keeps doing longs as my long indicators tell me; other keep shorting as my short indicators tell me; after some time, the losing money one is wrong, play heavy on the right side, this normally last to the end of the trading session, baring unforeseeable events, well some days unforeseeable events are few for the last hour of trading, and market does sometimes change direction the last hour of trading, but not very often, do not play too big then.
Government news releases have very little impact on current modern markets with very few - even rare, exceptions. Private sector analysts do an exceptional job of shadowing government economics statistical data collection. In Europe, the ECB actually leaks economic data to big banks (the ZEW Index and the Bundesbank is a great example) days in advance of the public release. When I traded Commercial Energy, we had two private Meteorological Firms on retainer - we got met data hours or days before the NOAA or Accuweather released it. If Byron Units 1&2 tripped offline - I ran over half of the Houston Desks and had myself covered and sitting pretty before I let our PR Department release a news statement. To think that a public news release is the definitive genesis of information is truly naive.
I never even said this. You're putting words in my mouth, then arguing with things I never said. I said "news" meaning events. Never did I say the 6 o'clock evening news or CNBC. Btw, that's why data releases move price most when they differ from the expectation.
If historical highs and lows have no impact on current pricing... Why is Natural Gas reacting to a level from 2016?