How to read forex economical calendar and predict the main trend for a specific currency pair?
For example I am interested to predict GBPJPY trend for next day (from the beginning of Asian session and till the end of New York Session) I want to gain 100 pips everyday from GBPJPY pair, how?
Which Moving Average is best for GBPJPY?
Best Regards,
:13:
Forex Economic Calendar is a tool used for fundamental analysis. In the forex market, particularly currency, prices tend to have a lot of volatility. That volatility is compounded during event announcements. Therefore, wise traders keep track of the events that can stir up substantial volatility. It provides the details about the data/events of countries around the globe. It gives you important updates about GDP, CPI, Retail sales, Trade balance, etc. The data in forex calendar is of different priority/importance. The data with three stars has higher impact over particular nation’s economy and the one with two stars is of moderate importance. It gives you the idea about where the currency pair is about to go. A positive data indicates the pair is about to appreciate where as a negative data indicates depreciation.
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but can you please explain the different headings of the economic calendar e.g. actual, forecast, previous, details?? also, does the babypips economic calendar show the date and timing of the event only or does it also show the results of the event? if it doesn’t, how to check the outcomes of the report/event.
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To gain a good knowledge in currency and commodity market in foreign exchange,
how to trade in a foreign currency market docsbay.net/analytical-study-on-foreign-exchange-market-cfd,
Procurement of new trading account, examining the risk and reward ratio, these may be interest of you.
Everyday? You can’t.
You may be made in my image, mate but you are NOT me.
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Economic calendars show the dates of events that may affect prices. Traders prefer economic calendar to get information and know the trading opportunities. If you see the calendar, there will be dates, currency and its impact(previously and in actual) which will help you in predicting whether it is good to trade that particular currency or not. You can check this forex calendar from forex factory as it provides meaningful information.
And how do we determine precise impact from the news? Sometimes market reaction can be completely opposite. It’s what makes news trading so hard, basically unpredictable, because you have to understand pre-news market expectations. My two last news trades on Hotforex was in profit, but I got some losses on my past trades so it’s a kind of double-sword situation.
You should use the calendar only to know when not to enter a trade. During events, the biggest moves of the price take place.
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Just follow only those news, that are you interested in as you trade assets that may be affected by such news. Some economic has filters, but better to read all updates, but pay attention only to those, that can directly affect your assets and analyze them in more detail.
Most people lost money in long term trading news, unless they’re insider trader 
I think that the economic calendar is one of the key instruments of every trader, because it is here that all key events that cause strong movement in the market are presented. Personally, I review the economic calendar every day and sometimes I pay attention to even minor news, because the market reacts to each event and sometimes several weak news causes a stronger surge than one big news. As a rule, the economic calendar is in the functionality of each broker. But if you are in doubt, you can use information from outside resources.
Economic calendar isn’t sth that you need to “read” that’s only notifications about important economic events, so you should just keep on controlling the dates and in important days pay attention to control news.
Reading it is important.
So there was a news and a result came for base currency and so did for the quote currency. How can I use the data and predict? and in technical analysis the price is near to breakout line, now how can I use news to see if it’s breakout or reversal?
What’s there to read it, watch the dates and times of the news, if the event is really strong, you work it out.
I do my tardes by fundamental or news events. So I read on weekend the econĂłmic calendar for all the next week… I rely on fx daily or fx street news… And the important only I trade. I dont look for a especĂfic pair… For example if there os a UK importan data in wednesday obviously on london sesiĂłn it I wake UP 10minutes before nd ser all the gbr pairs how are moving. Then after the relĂ©ase of data, I enter… NOT before NEVER… so I can catch the trend… My profit and stop los depends on my account…
and when I reach my goals I exit… I stay in for few minutes no more than 20 min… I cann grab quite a pips.
Is important to jeep and eye during the process
When you are in trend and getting profit I ake trailing stop
Works for me all the time… And its for all COUNTRIES. MOST IMPORTANT DATA
to consider that not always a important data will mové. So, always keep and eye after the news and not trigger your enter
One thing I never put stop los makong sure that im on trend
That’s what technical analysis is for. Price action precedes economic data. IMHO, price action predicts policy. Policy is civilization’s “organized” attempt to respond to the supply and demand of resources within the environment. Price is the value we place on resources and price can be compared to itself and past relationships with resources at varying levels of supply and demand. Price is truth. However, change is constant. As a result, at some time frame, prices trend; expanding and contracting to a mean.
Here’s the real deal about what you need to understand about News (red folder events) in the Forex market. The Dealers/Market Makers use news as cover to move the markets where they need/want them to be in order to book profits and take the money of retail traders.
Many traders and “experts” will tell you that the movement during news is based on sentiment and the financial bearing of the news blah blah blah… It’s all bullsh*t. The dealers use news to move the market.
How many times have you seen USD news that should be good for the USD and USDxxx pairs drop 100 pips?
Once you learn how the dealers move the market INTENTIONALLY, you will learn how you can almost “predict” the direction of price from the news.
This is the most manipulated market in the world. The Dealers take advantage of that with every trick they can to take your money.
Learn how the MM/Dealers move the market and you’ll have a much different perspective on NEWS.
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It looks rather good IMHO.