So what kind of confirmation are you looking for to go long/short? Is it more like seeing it first and then placing your trade, or do you have price levels you want to see price move to before making a decision?
I think I get caught at this very moment already making up my mind on which way to go instead of waiting longer. Of course this is a weekly chart which I don’t trade.
I will go long after the news reports are out and the market has reacted in a bullish way . I am used to enter when the market in 1hour break’s a key area which in this case will be resistance. BUT when there is high impact news I prefer waiting until they are out
Yea, makes sense. How long do you usually wait before checking? Is it time based or closed candle based? I guess maybe that’s the same question.
when the news are out ,I first wait for the news candle in hourly chart which “I consider as a fake out” to form then wait for next one if it closes bullish and i was waiting for that then i will enter
Yea, good idea. I’ve gotten scammed by those early candles and the crazy volatility after the news is released. It’s definitely better to wait a bit.
