Forex CalendarBefore entering a trade, it is wise to check this Forex Calendar to see if there are any upcoming market announcements in your chosen currency.
Powered by FXstreet.com The Forex Market When trading according to technical analysis, always obey your own trading rules and market signals. One of my personal trading rules is to check for upcoming market announcements, as this indicates potential unpredictability in the market. Generally, I'll stay out of a trade if there is a major announcement due in the next 5 or so hours. This is because that currency's market is likely to slow in anticipation of the announcement and then will react in the immediate hours following. If you're trading on an hourly chart, it's likely to take a couple of hours before you know if a trade is going to go your way or not, and there's a danger of straying into announcement territory if you enter a trade within that 5 hours window. I find that the market tends to recover fairly quickly after an announcement - it will react in the first couple of hours after an announcement, and then you will see indications of a reversal of trend or a bounce (ie, the current trend continues).
Leave Forex Calendar and return to Forex Market Hours
|
