IMO, news only accelerates the price action.. towards the support or resistance zone. (remember the TIME dimension of price behaviour). But finally the market structure helps us in identifying the next price action. We see it often that gap down is bought back by professionals.. and gap ups are sold by the professionals. Similarly, price drops after so called +ive news and rallies after a -ive news. (ofcourse nothing is 100% correct in the market so always there is probability factor attached to it and thats when our stops help us to safegaurd our capital).
Media has nothing to loose and they are doing their job of feeding us the info. It is we who decide to trade that news.
My belief, Market price discounts everything (including fundamental picture of economy which is few months away). If price is in the resistance zone then it is setup to go short. Resistance zone is certainly not a place to buy.
Happy Trading.
Media has nothing to loose and they are doing their job of feeding us the info. It is we who decide to trade that news.
My belief, Market price discounts everything (including fundamental picture of economy which is few months away). If price is in the resistance zone then it is setup to go short. Resistance zone is certainly not a place to buy.
Happy Trading.