I only trade the EU lately. What I try to do is get up at 1100, pick what I think will be the strongest direction for the day and get out around 1600.
I'm having about 50/50 results.
The thing that is really screwing me is the news. There is almost always some news between 1100 -1400 for either currency in the pair. I try to find an entry about 1100-1300 ahead of the news, if I think the news will continue in the direction pre news.
Sometimes this works in my favor as I get a few pips from pre news and then some from a news spike.
Anyway.........
How do you form an educated guess about what effect news will have on the EU?
Right now all I'm doing is looking at FF news and guess by what it did the last few times. Which hasn't been working well.
Can someone teach me how to form an educated guess as to the news effects. That is how can I research what the upcoming figures may be and form a reasonable opinion?
Are there some good news sites I can go to that can give me a decent clue?
I'm having about 50/50 results.
The thing that is really screwing me is the news. There is almost always some news between 1100 -1400 for either currency in the pair. I try to find an entry about 1100-1300 ahead of the news, if I think the news will continue in the direction pre news.
Sometimes this works in my favor as I get a few pips from pre news and then some from a news spike.
Anyway.........
How do you form an educated guess about what effect news will have on the EU?
Right now all I'm doing is looking at FF news and guess by what it did the last few times. Which hasn't been working well.
Can someone teach me how to form an educated guess as to the news effects. That is how can I research what the upcoming figures may be and form a reasonable opinion?
Are there some good news sites I can go to that can give me a decent clue?