- USD/CHF 1 minute breakout at 6AM PST NEWS
The forex coach is setting up to trade the news.
This is a historic chart from my archives. Today is Saturday. Below are 3 methods to trade the news.
Watch the five minute charts. Let the spike occur. Enter the trade after retracement and consolidation as soon as movement resumes. Enter as soon as you see the market begin to move again in your direction. (It is best if you see a 50% fib retracement, then wait for the market to stall for a moment.) You will not always get that 50%. Cover your trade as soon as you are ten pips up. Use a 35 pip stop.
This is Henry Liu’s news trading technique on 5M candles with METATRADER on FOMC forex news release. You can see him operate on youtube.com by clicking the link. He likes to enter on 50% retracement. You will find Henry in my recommended coaches links in the header of this page.
Anther great video and 5M news trading resouce is from FXbootcamp.com I used this 5M method to trade the nonfarm payroll reversal yesterday. I might have entered long had I used Henry’s 1M methods.
FXbootcamp trades the forex news using the 5 minute candle. You wait for the first 5 minute candle to close after the news. You take note of where that candle closed. You set yourself up to enter the trade if and when the market moves past the close of this candle. Cover your entry, then trail your stop and exit at signs of reversal. (Uses 5/8 SMA crosses)
Good news trades are the Non Farm Payroll first friday of the month, Interest Rate or FOMC, ALSO Trade Numbers, and Inflation Data, CPI, GDP.
You can get news releases from tradethenews.com
additional news trading videos are
1. Wayne McDonald at FX bootcamp.com 3M candle entry.
2. Henry Liu NonFarm Payroll on 5M candle.
3. Trendline break with close outside trendline with fxknight.com UK GDP on 5M candles HERE
4. Henry Liu’s One week News trading summary.
4. Henry Liu’s UK Retail Sales 1H
5. Henry Liu’s AUS CPI News Reversal trade
6. Henry Liu’s UK GDP QQ
7. Henry Liu’s DOUBEL FIBONACHI NEWS ENTRY
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