Some time ago I got curious whether I could spot news and report days on a price chart. At the time I was coming up to speed with price action analysis and I wanted to see if I could spot anomalies in price movements, not in line with PA, just before, during and after news and reports. I examined the 4H, 1H and 15M charts for several pairs going back a full year. Guess what? I could not find a single anomalous price movement. What I did find is that on certain days price movements are accelerated and these accelerations correspond to news and report timings.
I would encourage you to test and verify everything you know or hear about the market and trading. We tend to regurgitate what others say without validating it. I’m guilty of that too.
I have found that price follows a set of precise rules. It’s our job as PA traders to identify as many of those rules as we possibly can. The more rules you identify the more efficiently you will be able to trade. Having made that observation and validated it, I now ignore news and reports entirely. Exceptions are massive events such as tsunamis and such where price generally falls off a cliff.
Keep things simple and don’t look to overcomplicate your trading. You will be much better off. And, don’t take my word for all of the above; validate it for yourself.