Sorry, as this is probably a real dumb question, but I'm trying to work out how to apply the economic news forceasts from the calender to trading.
I trade the GBPUSD intraday on 2 min timescale, and don't want to be holding positions 5-10 mins before the news comes out.
I am using the "Calendar" link at the top of this page for the following day's trading:
http://www.forexfactory.com/calendar.php
My question is:
Which of the news announcements do I use to stay away from the market? For example on May 22nd, USD had announcements 8.30am, 9am, 10.05am, 10.30am - but it only seems to be the 8.30am one that gave a 120 pip rise in the opposite direction to the trend.
Any guidance appreciated.
Thanks
I trade the GBPUSD intraday on 2 min timescale, and don't want to be holding positions 5-10 mins before the news comes out.
I am using the "Calendar" link at the top of this page for the following day's trading:
http://www.forexfactory.com/calendar.php
My question is:
Which of the news announcements do I use to stay away from the market? For example on May 22nd, USD had announcements 8.30am, 9am, 10.05am, 10.30am - but it only seems to be the 8.30am one that gave a 120 pip rise in the opposite direction to the trend.
Any guidance appreciated.
Thanks