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Trade the News With Price Action

  • #21
  • Nov 6, 2012 1:24pm Nov 6, 2012 1:24pm
Quoting akatom
Me too.
You have written in post 7 "as far as am concern my trading comprise the total outlook of a country economics in a certain period".
Can we know the sources of your outlook?
i use the total output of the news of last week and check the forecast for the week normally we expect surprises like this moreover i trade the news last week without any loss

this are the steps to know what am talking about.

step1. check the previous and forecast for good economic it should be rising but if the forecast is lower than previous data then you should think otherwise

step2. check the results of the pass week and compare with the forecast of the following week, now check whether its favor the currency or not.

step3. if there are surprises like today then you should expect more surprises later in the week. example is the retail sales of AUD it increase in forecast while it increase in actual too just as predicted, interest rate statement did not cut but surprise us too, now we will hope for the next AUD news for surprises, if we see investor forecast any good AUD news next week to favor the currency we will take that trade because we can predict the currency movement due to this week surprise
Note: this week shows the country economic is going back to normal

that's all you need to know if you have any other question let me know or if you don't understand i can use examples for you.
i don't lose any pips as for last week USD and CAD news

Note: i will post my chart for price action so you can understand how i use it apart from spike and pre news trading
  • #22
  • Nov 6, 2012 2:06pm Nov 6, 2012 2:06pm
Thank you afolabiay for your response. It's interesting what you do. I will follow you some time to learn your method.
All the best to you.
  • #23
  • Nov 6, 2012 3:51pm Nov 6, 2012 3:51pm
Quoting akatom
Thank you afolabiay for your response. It's interesting what you do. I will follow you some time to learn your method.
All the best to you.
you are welcome, i will post some chart now for you to understand somethings about the price action
  • #24
  • Nov 6, 2012 4:04pm Nov 6, 2012 4:04pm
As promise you i want to teach you something about the price action of either with the news or without.
strategy without the news.

First before you begin to read this post just do what am about to post to your chart

Put an Horizontal line to every round number of your chart example is the chart below and +20 above round and -20 below round numbers

example like the chart below 1.29000 color Gold
Above 1.29200 color Red
Below 1.28800 color Red
Attached Image (click to enlarge)
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  • #25
  • Nov 6, 2012 4:38pm Nov 6, 2012 4:38pm
here is the strategy for none news price action

every horizontal line of the round number act as the support and resistance what you will watch around this lines is the reverse bar like the hammer pin and so on and it must not pass the Horizontal line the stop loss will be one of the chart and the take profit will be the other line whenever you are in 10 pips profit you will move the stop loss to break even see some examples below
Attached Image(s) (click to enlarge)
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  • #26
  • Nov 6, 2012 4:46pm Nov 6, 2012 4:46pm
Note this is only first of the strategy of my price action i will post the second one tommorow i am tired now and be prepare for NZD news tommorow
  • #27
  • Nov 7, 2012 7:11am Nov 7, 2012 7:11am
Quoting afolabiay
here is the strategy for none news price action

every horizontal line of the round number act as the support and resistance what you will watch around this lines is the reverse bar like the hammer pin and so on and it must not pass the Horizontal line the stop loss will be one of the chart and the take profit will be the other line whenever you are in 10 pips profit you will move the stop loss to break even see some examples below
Hi afolabiay

Amazing!! I was just going to start a new thread under "trading systems" with almost the same strategy! It works well but I use a 15 pip R/S line either side of the BRN level. If you backtest you'll find that 15 pip either side is very much more where price action starts/stops generally. My thread will be called: "The floor/Ceiling through target trading system". As I say it's very similar to yours, just a few differences!

Rgds

Jerry
  • #28
  • Nov 7, 2012 12:09pm Nov 7, 2012 12:09pm
Quoting jmtini
Hi afolabiay

Amazing!! I was just going to start a new thread under "trading systems" with almost the same strategy! It works well but I use a 15 pip R/S line either side of the BRN level. If you backtest you'll find that 15 pip either side is very much more where price action starts/stops generally. My thread will be called: "The floor/Ceiling through target trading system". As I say it's very similar to yours, just a few differences!

Rgds

Jerry
good tell me when you start it
  • #29
  • Nov 7, 2012 12:11pm Nov 7, 2012 12:11pm
NZD news analysis coming up in 3 hours time and AUD after NZD
  • #30
  • Edited 3:55pm Nov 7, 2012 3:11pm | Edited 3:55pm
NZD analysis

Sell when the unemployement >68 employement is <0.1
Buy when the unemployement < or =67 employement > 0.3
  • #31
  • Nov 7, 2012 4:01pm Nov 7, 2012 4:01pm
but you are correct that the report had given first ........ why?
  • #32
  • Nov 7, 2012 4:02pm Nov 7, 2012 4:02pm
AUD news
Buy when Actual of employement is greater than 14.5
unemployement is less that 5.5
  • #33
  • Nov 7, 2012 6:40pm Nov 7, 2012 6:40pm
Quoting iuri76
but you are correct that the report had given first ........ why?
i don't understand what you mean
  • #34
  • Nov 8, 2012 2:12am Nov 8, 2012 2:12am
Quoting afolabiay
NZD analysis

Sell when the unemployement >68 employement is <0.1
Buy when the unemployement < or =67 employement > 0.3

this prediction has been changed after the release of data .....
  • #35
  • Nov 8, 2012 2:19am Nov 8, 2012 2:19am
your first analysis:
NZD analysis

buy when the unemployement >68 employement is <0.1
sell when the unemployement < or =67 employement > 0.3

and then at 22:55 after release of the data you have changed:
NZD analysis

Sell ​​When the unemployement> 68 employement is <0.1
Buy When the unemployement <or = 67 employement> 0.3
  • #36
  • Nov 8, 2012 2:28am Nov 8, 2012 2:28am
Hi afolabiay,
Your numbers are exact. It's very important but not sufficient in this game which plays in milliseconds. NZDUSD is a good example. I was terribly late. I am looking for a solution.
Have a good day.
  • #37
  • Nov 8, 2012 5:00am Nov 8, 2012 5:00am
Quoting iuri76
your first analysis:
NZD analysis

buy when the unemployement >68 employement is <0.1
sell when the unemployement < or =67 employement > 0.3

and then at 22:55 after release of the data you have changed:
NZD analysis

Sell ??When the unemployement> 68 employement is <0.1
Buy When the unemployement <or = 67 employement> 0.3
made ? mistake After the news i want to comment on the news then i notice that is why i edit it for people that have not open any position am sorry it won't happen again
  • #38
  • Nov 8, 2012 5:05am Nov 8, 2012 5:05am
ok thanks....no problem!
  • #39
  • Nov 8, 2012 5:15am Nov 8, 2012 5:15am
Such mistakes can happen, will happen and are evident as typos. No problem!
  • #40
  • Nov 8, 2012 6:50am Nov 8, 2012 6:50am
Quoting akatom
Hi afolabiay,
Your numbers are exact. It's very important but not sufficient in this game which plays in milliseconds. NZDUSD is a good example. I was terribly late. I am looking for a solution.
Have a good day.
i am thinking of building a chat room for real time talk or a blog also
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