High Impact News Trading (Forex Factory): Example is EurAud bullish trade, but all can be done on a bearish trade too.
RULES:
1) Use 15 minutes charts or Time frames
2) Do not start a new trade 30 minutes prior to and/or 30 minutes after high impact news.
3) Is price action over or under Bollinger Bands indicator 20 SMA? Chart example is over- so trade long.
4) Is price action trending or in momentum now? Chart example is yes- going up or bullish.
5) Stop Loss should be lower then before news. Chart example is: 1.60875
6) Enter should be at start of the 3rd /15 minute candlestick after news or after 30 minutes after news. Enter at 1.61084.
7) Target should be at least 1:1 risk reward of stop loss to enter vs- enter to target. Per chart 21 stop loss vs 29 target.
Target may last one to couple hrs. Per chart target is: 1.61375.
F.Y.I.- All Forex trading involves risks, do not trade with money you can not afford to lose. Trading news can make quick profits or losses.
RULES:
1) Use 15 minutes charts or Time frames
2) Do not start a new trade 30 minutes prior to and/or 30 minutes after high impact news.
3) Is price action over or under Bollinger Bands indicator 20 SMA? Chart example is over- so trade long.
4) Is price action trending or in momentum now? Chart example is yes- going up or bullish.
5) Stop Loss should be lower then before news. Chart example is: 1.60875
6) Enter should be at start of the 3rd /15 minute candlestick after news or after 30 minutes after news. Enter at 1.61084.
7) Target should be at least 1:1 risk reward of stop loss to enter vs- enter to target. Per chart 21 stop loss vs 29 target.
Target may last one to couple hrs. Per chart target is: 1.61375.
F.Y.I.- All Forex trading involves risks, do not trade with money you can not afford to lose. Trading news can make quick profits or losses.