Saturday, November 10, 2012

Forexfactory

Forexfactory is a great place to get the news. If there is something marked red in the news and it concerns the US, it is a good idea to sit any trade out that occurs just before (½ hour) the news.

Today, newly re-elected president Obama was going to speak. It was a yellow news-marker. Yellow means little or no impact on the market. BUT, according to Bloomberg he was going to talk about the fiscal cliff. That is not a popular subject among the traders. To be honest, Obama isn't popular among the traders to begin with. Those two factors hinted that the impact might be bigger than suggested. 
And it was.

Lesson of today: Rely on more than one news-source.

He started speaking at 19:10 on the charts. 
(Ignore the Regular Divergence. It was just to show how it is drawn.) 


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