Forex News Breakout by Frank Paul: How A Setup Dictates The News Response You would think that good economic news should translate into the market going on a buying spree for the underlying currency, wouldnt you? After all, that only makes sense. However, logic so often specifically does not apply when it comes to trading the news. Take Canadian GDP released at 13:30 GMT on Friday, Nov. 29 for example. The news was good, and yet USD/CAD rallied quite sharply (which of course means CAD weakness relative to the US dollar). If you had tried to trade this news logically, you wouldve been stopped out for a loss on the short side. Fortunately, our methodology of trading news ONLY when it corresponds with a strong technical setup (based on price action only, no indicators), and ONLY in that direction - whatever the news print turns out to be - would have positioned you correctly for a 50-pip winning trade on the USD/CAD pair. To view a 13-minute video presentation that explains both what Forex News Breakout trading is all about, and briefly highlights the outlines of this winning trade setup, please click the following link: forexmentor/vid.php?v=/fxnewsbreakout/update/113013
Posted on: Sun, 01 Dec 2013 05:27:55 +0000
Trending Topics
Recently Viewed Topics
© 2015