Hello All
Just a question. Suppose you are trading GBP/USD and there is a news event happening with high priority. Suppose both events came out with positive numbers. How will you know which currency will go up or how will it effect that pair?I know there are lot of experienced traders here. If some one can please answer, that will be awesome.
Regards
Gary
You mean if high priority news is released for both pairs? One for the £ and one for the $? In that case, do as you always should do when trading the news: wait 15-20 minutes and see how the market reacts.
News trading is already tricky and trading TWO news events is just revenge trading waiting to happen. I suggest waiting it out until you see which report traders are paying more attention to.
Also, don’t discount the effect of profit-taking especially on shorter time frames.
Thank you so much for feedback…
News trading usually brings the largest moves of the month. Because of this, it’s not any wonder of which trader’s seek out high value news events in an attempt to catch a huge move. However, if you don’t have a solid plan for trading the upcoming affair, you’re likely better away not trading by any means. Here is usually a plan to ensure you’re ready every time a big proceed comes the right path.