Hi all,
I would like to share with you a way that I trade the News.
This trade can be done in a relatively short period of time, around 5-10 minutes
each trade.
At the beginning of each day, check out, filter
off those “High” on importance Economic News release at http://www.dukascopy.com/swiss/english/marketwatch/calendars/eccalendar/
and take down the timings.5 minutes prior to these data release, load
respective 5 min charts. The example below that I am using is 1st
May’s USD ISM Manufacturing news release at 14:00, therefore I had EURUSD chart
loaded. On the 13:55 time 5-minute bar, place 2 limit
stop orders, a buy and a sell. (A stop order is an order that becomes
executable once a set price has been reached and is then filled at the current
market price. A limit stop order is one that is at a certain price or better. –
Investopedia). The buy order will be 1 pip higher than the 13:55 bar high. Sell
order will be 1 pip lower than 13:55 bar high. The reason for this is to
capture any big movement for the currency when the news is announced. Place your stop-loss and target profit levels.                                                                                    a.  For y…
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