So far in my trading I have pretty much ignored the news calendar here at Forex Factory. I know when NFP day is, so I just keep it in the back of my mind.
This morning, at 4 AM CST, there was a BUOB on the GBPUSD. The bar didn't stand out as anything special so I passed on it.
I then look at the chart around 4:45 AM and the next bar went long strongly, making this a quick profit trade. I then looked at the calendar to see that it was a strong news time for the GBP. I have often heard that PA will tip off which direction upcoming news will take a pair.
Was this a trade any of you experienced guys took, or would take? Should I have seen this mediocre BUOB, but realized that huge news was coming out and the hand was being tipped?
Thank you so much.
T.J.
This morning, at 4 AM CST, there was a BUOB on the GBPUSD. The bar didn't stand out as anything special so I passed on it.
I then look at the chart around 4:45 AM and the next bar went long strongly, making this a quick profit trade. I then looked at the calendar to see that it was a strong news time for the GBP. I have often heard that PA will tip off which direction upcoming news will take a pair.
Was this a trade any of you experienced guys took, or would take? Should I have seen this mediocre BUOB, but realized that huge news was coming out and the hand was being tipped?
Thank you so much.
T.J.