News and Currency Strength - Is it really as simple as that?

'Playing' around with small 0.01 orders at the moment, and this seems to be working so far.

Relying only on the following:

NZD/CAD

1. Currency strength, on OANDA, confirms NZD as losing strength against the CAD over both the week and month.
2. Positive GDP results from Canada indicating that economy is performing well.

So, waited for a 15 minute candle to close after the news (to confirm direction), and placed a sell on NZD/CAD. B/E set when it reaches 20 pips profit. TP set at the next visual support level. Order is a 1:3 RR.

I've used no indicators at all.

Is it possible that it can really be this simple? Looking for a currency to perform better than the market predicted, and then placing the appropriate order against a weaker currency?

It does make me think trading purely on sentimentals may be better than technical?

Just interested to see if others have made profits doing this?

So far 50 pips profit. Maybe just luck? Will analyse over the long-term but it's definitely looking like the most promising system I've tried so far.

Trading I have found is about stacking the evidence in favour of the direction that you are favouring. Be it Currency Strength across the pairs, fundamentals or even a technical reason, previous strong support/resistance / supply/demand zone.
What is important is that you couple this with a good money management technique that is suited to you. Know your risk before you dream of your profit.

This technique will probably work best when there is a clear trend in place.