Forex Factory Is One Of Favourite Tools For Forex Traders
Many of professional traders has said “If you’re using medium to long term strategy you have to analyze forex market movement based economic news too in several weeks”. From this statement, we have to combined between fundamental factor with technical factor.
This two kind of variable is a must and then we got lot money management strategy on your averaging, martingale, scalping, or even hedging strategy.
Forex market has a new contract per 4 hour, so if you want to decided become long term technique so use H4 timeframe and start analyze forex chart using trendline or fibo or any indicator that suitable from your style. And if you want to using scalping strategy you can get strong parameter from H1 to take entry buy or sell based supply demand area. You can read some article about supply demand strategy on forex factory too.
Forex Factory is very helping forex traders in the world to get of success from this crazy forex market. We can test many strategy from forex factory forums, and even we can take subscribe signal from professional forex traders too because forex factory provide their list. Forex traders suggestion to open forex factory calendar on sunday or monday to analyze market per week and combined this economic news with technical strategy. For scalping traders usually stay away from Non-Farm Employment Change which always release on friday on every first week monthly. Why, because forex market will spike hundreds pips in several seconds if this Non-Farm Employment Change release on forex factory. Beside we can learn many forex strategies like how to identify supply demand zone with right we can learn more too about leading or lagging economics indicators to calculate “effect” in market movement.