hai…im newbie here…i have question regarding to the news…act,how we read the economic calendar such as forex factory???i have searched a long way to tutorial but find nothing…my questions:
1)how to read the calendar???previous vs forecast vs actual??when is mean when forecast is greater that previous??vice versa??
2)when do the high impact news take place???i mean rite after the annoucement or a few min or hours after dat??
3)how long it will take place???
hope someone can help me…thanx guys
It doesn’t matter which way you read the news, you should read the markets reaction to the news and trade off that. Your opinion of the fundementals matters nothing compared to what the big traders think of the fundementals.
agreed, also the large traders have highly qualified people who have been educated and trained many years to do that type of news analysis. Your analysis may be right but let them lead the way, also they are the ones with the money to move the market. Let the market show you what to do and trade that way. Let them light the way, you just ride the coat tails.
There is a good article about reading the economic calendar at forexvote. It may be useful for you to get answer of your query.
Source: How to Read Economic Calendar?