Do you believe in forex calendars or patterns?

Forex calendar as in "red" important news or data series and patterns such as double tops/bottoms etc.

Sometimes when the red usd news are bad, xxxusd went down instead of going up. Reasons some people gave are that the bad news are already factored in. How to trust the news this way?

Then when the double bottoms came, instead of going up, that recent "bottom" went down lower. Another untrustworthy strategy.

So might as well flip a coin and just guess better..

It's funny...I've actually heard that as a new trader you'd probably have better results flipping a coin for directional bias instead of following some of these strategies being pushed out for sale (or free).

Anyway, the news and economic data reports are used to inject volatility into the markets. That's all. If there's a lesson to learn from what you've witnessed it is that no matter what the data says if the powers that be want to drive the price higher it shall be done. And vice versa. End of story.

I'm not one for strategies. They've all failed me. But I am a student of the markets. Here's something to study: Go back in your charts and look at all the red and orange folder news events. The yellow folders can be ignored. Usually when the news is released you see a reach for, at least, a short term high or low. Or, if you will, a "top" or "bottom". Study that. Especially the high impact news. If you want to base a "strategy" off of that...and I use that term loosely...feel free. But you be surprised how often it happens. Especially "double tops and bottoms".

The key word is liquidity. That one term will probably send down a loooong rabbit hole. But if you go deep enough you'll find the answers you're looking for.


Peace.

Hi!
I would make a statistics if I were you ...Trying to trade on news... see if it can gain experience in that way.
There are big evets... starting with those... there are couple of big evernts every year. Those are marked high impact here.

I personally don't believe that forex patterns alone or news alone is the way forward, I think to improve performance, probability and consistency, one should learn it all.

- Technicals
- Fundamentals
- Probabilities

Market patterns in my opinion are only an indication of the ongoing war between buyers and sellers, nothing more, nothing less. If this technical aspect plays out while you have a directional bias, based on fundamentals or higher time frames and they all marry up, then take the trade if the confluences are there.
news in my opinion is only a catalyst for the direction it was going in the whole time - if you really understand the impact of the news release and you marry it up with your higher time frame analysis and it plays out in your direction, you will see more volume/volatility but it will allow you an opportunity.

technical
technical
technical
12 years experience i saw thousand of news but market doesn't react to the news ..one day u will trust this .. fundamentals 50/50