Dislikedtalking about several day direction I was not so sure. in news trading I was actually meaning enter and exit within 1 hour like that.
it's true that the highs this week has tested support level many times this week..
but the real triggering thing that sends for a break was Friday's GBP GDP q/q bad right?
I have not been able to read a volume data from forex so no idea yet, maybe I can learn
is there a source we can get that forex pair trade volume data electrically? thanks malcocmb.Ignored
I use esignal ...... but ibfx mt4 platform is fairly close .... on news watch for high volume up bars ... pros will sell into these . Market does not like high volume wide spread up bars out of nowhere. Look back in your charts at news time and try to spot these ... there is always a selling reaction to them.
that is one thing news is good for .. on bad news market will mark down prices but I always look for pros to buy into the weakness. Using vsa I can say when I am right my max draw down is 30 pips on gj , more than this and the trade is liekly not going to work , and i get out wait for next trade
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