My holy grail is news trading
For news trading I apply
Breakout Trading Strategy - works like clockwork on major releases such as CPI and Non-farm payroll. Works good for other news, however you have to take your profits and exit quickly (having a fast finger), so that your profits don't get eaten up on reversal as traders take their profits.
Happy Trading,
Steven
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Forex 101 - FX Resources and Trading Strategies