what is 5/3/5 wave?

can somone tell me what is a 5/3/5/ wave?

and.. to trade the news after the full formation of a 5 minute candle what indicators, oscillators could i use?

thank you

alberto

Personally I stay away from trading with the news as much as possible. If you are using 5 minute chart to try to figure out to short or long a currency during news I don't think it will do you any good.

On 8/24 0400 US Est. the EUR/USD opened at 1.2762 and closed at 1.2805 in 10 minutes. Over the next 40 minutes it climbed up to 1.2831.

The point I am trying to make is that during news times it does not seem any technical analysis will do you any good. The other point I am trying to make is that it moves fast. If you did not jump on it before the news happened then you probably lost a good chunk of coin. So if you want to risk trading on the new you could try to predict how it will go. Or you could do something really simple and place a bet. Pick a direction, maybe at a flip of the coin, and see if you are right. If you are, great, you are rich ^^; If not big woop? Maybe not, maybe you got into a trade and then your stop loss wasn't filled and you lost a lot more money than you were prepared to loss on a flip of the coin. The choice is up to you.

But ask around, ask the traders that trade the news how they do it. I am just saying personally it seems like a gamble, a bet that I am not willing to make. Espically if my broker can not garaunte stop loss during unusual market times, which they don't!

I think you must be talking about Elliot wave theory. Here is a link that explains it. http://www.investopedia.com/articles...cal/111401.asp

If you want more info on this you could PM xxDavidxSxx. He may be able yo give you more info. Or you could read thru his journal here.
http://www.forexfactory.com/forexfor...ead.php?t=2964

2.

Do not trade the news until you are an experienced trader...

Thanks Scott

I do realize I am still new around here but, some of my greatest gains have been trading AFTER! a news release comes out. I don't do this often but, sometimes, it is a good pay off.

As one of my "instructors" (a close friend of mine) stated while in my training phase (and still there), AFTER an economic indicator comes out and the market has reacted to the news release, there will be - most times, some times - a tendency to move back to what the previous trend was before the news release. So, trading the retraction can be a good trade. Tends to be slower and somewhat predictable, sometimes. But, there again, like everything else on the Forex, it's never the same.

I tend to agree with Nathan below. Doesn't seem to be worth the trouble trading the news. Us "newbies" have soooooo much to contend with. Plus, way too much movement too fast for me. And, as still a newbie, that's stress I don't need right now.