I’m always saying trade the trend but this was mad. Proof actually that the market IS greatly influenced by news and this was fast. But my question is why did the USD go UP in value against the other currencies?
SELLING AUDUSD and USDJPY suddenly…
So what can we learn from this?
1. The markets do what they like, no amount of drawing lines with fibs fabs or fuddles will make the market obey your will!
2. The markets are very sensitive to news. It comes any time and out of the blue. Some people would have been stopped out, others, like me trading with a trend anyway made massive amounts of profit in under a second.
3. People who say don’t watch the charts. yes, I understand that, but if you don’t you might miss something like this. If you do walk away though it’s easier to stay in trades that bring more profits and hit their TP.