Hi, I'm Riad here, We had an interesting day today trading 1 min news on skype. First, I would like to share some info about how I trade 1 min news that might be very beneficial to some people.
There is a 30 min time rectangle drawn on the chart below. This marks the release of the news till the time that the currency retraces a portion of original price(Possible pullback). This 30 min rectangle is further divided into two 15 min rectangles. As the price is within first 15 min rectangle, we give more importance to our news analysis and less to our indicators, and as we go through second 15 min rectangle, we give more importance to our indicators and approaching retracement.
This first chart is the Eurusd trade we took on Skype. Note that although Smaangle wasn't according to rules, I took a short at closing of third candle on thumbs up(1.3583). This is because we are still in first 15 mins and the good news for dollar should continue pushing Euro down for a while. Exit took place at +10 pip profit at the mark "x". Second trade, the one marked with an arrow, is where we stand back because ADX has crossed in to wrong zone, and we are approaching the end of our trading rectangle, thus looking our for possible pullback.
There is a 30 min time rectangle drawn on the chart below. This marks the release of the news till the time that the currency retraces a portion of original price(Possible pullback). This 30 min rectangle is further divided into two 15 min rectangles. As the price is within first 15 min rectangle, we give more importance to our news analysis and less to our indicators, and as we go through second 15 min rectangle, we give more importance to our indicators and approaching retracement.
This first chart is the Eurusd trade we took on Skype. Note that although Smaangle wasn't according to rules, I took a short at closing of third candle on thumbs up(1.3583). This is because we are still in first 15 mins and the good news for dollar should continue pushing Euro down for a while. Exit took place at +10 pip profit at the mark "x". Second trade, the one marked with an arrow, is where we stand back because ADX has crossed in to wrong zone, and we are approaching the end of our trading rectangle, thus looking our for possible pullback.
Best Wishes..
-Riad Jarjour