True, that is until news is released that takes a normally reliable price pattern and completely destroys it (IE Fed annoucements at 2:15). I guess if you are not trading at 8:30 est then it doesnt matter if you dont know what is happening then but its always good to know when market moving news is being released intraday so, if anything, you at least know that it's coming.
Is this some kind of joke? There's plenty of market moving news that's released at other times besides 8:30.
did you know that the fed is releasing it's rate decision on the 25th of this month at 2:15 est? have you heard of inflation? gdp? i find it questionable that someone who says they have studied price patterns this in depth for 2 years and says they are profitable has no clue what time most of the major premarket economic news is released.
No shit, Sherlock. Yes, I know about those things. But they don't affect my trading. I'm not sure what is so hard to understand about the fact that I run a purely mechanical system, every hour the market is open, through both run-ups and drawdowns. Needless to say, if the run-ups didn't outweigh the drawdowns, I would not be doing it. The only thing that matters to me is price action. Emotions? TA? Fundamentals? Guesswork? You can keep them. I love not having the stress that goes with trying to predict market direction, entry and exit points.
Because I didn't know that practically every day some kind of news comes out at 7:30 Central. I thought it was pretty much dispersed throughout the day, and wasn't sure what was causing this spike at the same time every day. I thought it was a pretty straightforward question really, driven by curiosity more than anything, that has been turned into a massive discussion by people who misunderstood where I was coming from.
Get some of those long balloons and a pump and you can work some Saturday birthday parties you fucking clown.