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Originally Posted by bearprofits
We hear the news "always" after the fact.....like an indicator....... the best positions are made before the news breaks,...... the news only drives price to it's target.
It is usually already figured or discounted into price
just a poor bear's thoughts.
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part of what you are saying is correct, but i personally wouldnt recommend having an open position just before a major news announcement, you may have determined the correct direction but still get stopped from volatility.
my 3 favourite indicators which i couldn't do without are:
Price, support & resistance zones and 'time', volume is another but its accuracy to the fx market is a different story.