What is news trading? How does forex news trading work?
Forexpathfinder News Trading can be extremely profitable if you have an understanding of fundamental analysis and have access to low latency forex trading software. Sounds too complex or expensive? Do not worry, Forexpathfinder analyst will help you to identify high-probability tradable economic news reports and advise on the trading strategy. You find all details on Here and if you want make pips easier you can find additional tools at Forexpathfinder Tactical Squad.
UK Retail Sales - 4:30am NY time (Thursday, October 17)
| Traded pair | Expected figure | Deviation trigger | ||
| GBPUSD | 0.5 (%) | ±0.4 (%) |
| Buy | GBPUSD | if actual figure is or is above | 0.9 (%) | ||
| Sell | GBPUSD | if actual figure is or is below | 0.1 (%) |
Expected move during first 20 minutes after the release is 20 pips or more.
Note
| Traded currency pair | : | GBPUSD | ||
| Initial spike duration limit | : | 15 seconds | ||
| Initial spike price action threshold | : | 12 pips | ||
| Triggering retracement percentage | : | 35 % | ||
| Retracement duration limit | : | 40 seconds | ||
| Maximum trade hold time after release | : | 10 minutes | ||
| Stop loss | : | 10 pips | ||
| Take profit | : | 10 pips | ||
| Maximum spread | : | 2 pips |
- If between 04:30:00am and 04:30:15am, so during the first 15 seconds you see GBPUSD move up or down by 12 pips or more, then enter in the direction of the initial spike at the very first 35% retracement if it doesn't take more than 40 seconds (till 04:30:40am) – and if spread is at 2 pips or less. Set stop/loss at 10 pips, and set take/profit at 10 pips immediately.
- If the move either up or down was less than 12 pips during the first 15 seconds, then the actual number of the report did not generate sufficient interest in the market, and you simply skip the trade.
- If by 04:40:00am, so 10 minutes after the report release, neither your stop/loss nor your take/profit points were hit, then close the trade automatically at market price of the time.
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