no kidding, in forex, the only way something can go down is if something else goes up. The only way to get them all going down together is to get gold, silver, crude or commodities up. Everybody wants to go down, but nobody else wants to pay for it. That's what makes a market.
I usually only use news events as a time to expect Vol expansion. I use TA meaning price ,volume, time, volatility, patterns and their measurements. Some patterns Ill use fib tgts for exits, other patterns I'll use vol expansion and time for exits/reverse. Trade 5 main patterns. I like inter market analysis too. A flowchart of 30 futures markets. Kind of like a global flowchart of money. I trust it because I'm still here trading.
I've often thought historical data for TA would be a lot more reliable if it was edited for clear fundamental news moves, like NFP and interventions, etc. How does that flowchart for 30 fufures mkts work? What's the difference between that and GSCI? or for that matter, what's the difference between a flow chart and a straight price chart? I have one that tracks currencies vs gold. But I've never figured out a way to make money off of it.
I meant I have 30 price charts of different futures and fx markets up, not flow charts. All together I can see where the global capital is flowing .
good decision bro. if we cant analyze fundamental its better we avoid trade during the news release because in that time market can move crazy and we less knowledge about fundamental.
i think its depend on your strategy and your trade plan so if you scalping you will use small frames or if you make long trades you choose big time frame for me i prefer 4H and D1 frames it help me to see the next movement of the market
In start I do trust on technical analysis . It is best for new traders we can get trend and move of market from it. Now I try for news trading too. My main focus is now on chars that tell me right about market situation.