We now have… drum roll
…the OlsenScale charts!
For those who aren’t familiar with this nifty tool, the OlsenScale pretty much works like a Richter scale except that instead of an earthquake, we have an economic event!
Each economic event affects certain currencies and with the OlsenScale, you see a clearer picture of how a certain event may impact the currencies you’re trading. You’ll be to see a currency price’s “seismic activity”.
Maybe there’s a pattern based on past events? Or perhaps it’s a good idea to get out of that trade because Event X is being released? More insightful information to help you make better trading decisions. Good stuff.
It’s on the calendar right now. Go see!