question about the usd on 12.09.2017
So I was on the demo account in a trade on the eur/usd. I was short and in profit. At 5pm the JOLTS Job Openings came out for the usd and it was positive (i know it is not a high impact news announcement) but it should be good for the usd. At 5pm though euro got a boost up and so my downtrend ended.
Did I miss any news on the euro ? Or all that happened was at 1.19250 , where there are 3 candles (1h each) that bottomed ,so people that were short saw this , panicked and got out of their trades ?
But the thing is that the usd dropped on many other pairs that i checked, like gbp/usd , usd/jpy , usd/chf, nzd/usd . So something happened to the usd at 5pm today.
Any isights that you guys can share?
You can never rely on news having the impact you "think". It will always be very volatile in both directions and can easily trend completely opposite to your logic. Human sentiment and psychology never makes any sense!
The correct way to trade news is to trade the results (the breakout, or the volatility). Don't try to predict what will happen!
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So I was on the demo account in a trade on the eur/usd. I was short and in profit. At 5pm the JOLTS Job Openings came out for the usd and it was positive (i know it is not a high impact news announcement) but it should be good for the usd. At 5pm though euro got a boost up and so my downtrend ended.
Did I miss any news on the euro ? Or all that happened was at 1.19250 , where there are 3 candles (1h each) that bottomed ,so people that were short saw this , panicked and got out of their trades ?
But the thing is that the usd dropped on many other pairs that i checked, like gbp/usd , usd/jpy , usd/chf, nzd/usd . So something happened to the usd at 5pm today.
Any isights that you guys can share?