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News trading as a whole is largely reflected in the market well ahead of time. For example; if traders are expecting a given number for a Non Farm Payrolls event on Friday, that expected number will be traded in the charts on Tuesday or Wednesday.
Having said that there are scalp opportunities to trade the news after the announcement has been made. There are good reasons to wait. First there can be total whipsaw where spreads will widen, or price may rocket up 30 pips and down 30 pips in the blink of an eye giving the novice an opportunity to do nothing but lose money. Also, as trader we like to see proven direction, and "go with the flow".
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Professional Trading is an endeavor, like all highly skilled activities, it takes a great deal of time and dedication to learn. On top of needing the correct education, the new trader will find themselves going throu...
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ong Term Trends are driven by Fundamentals. Our job as traders is to have a bias driven by our understanding of the Fundamentals, and then use proper technical analysis to initiate a trade.
Long term trends and fundamentals are ultimately driven by Supply and Demand. For example, a rising economy will create a demand for more energy , this creates a higher demand for oil which will mean higher oil prices, thus oil producing nations such as Canada will benefit.
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by Brian Durning
Pivot Points originated from floor traders at the exchanges as a simple way to have an idea as to where the market was headed over the course of the day.
The Central Pivot is calculated as follo...