For those of you who like to trade news on an intraday basis we thought we'd demonstrate how to do it properly in five easy steps. Of course it doesn't always look this clean and easy but this is generally the approach that we take when it comes to news trading. We look at calendar to see what's coming up, then we scan the various pairs on 5M charts to see if there are any trendline, wedge and triangle opportunities. As you can see we love to trade breakouts because generally they suggest that there's some kind of imbalance between buyers and sellers which in turn allows us to ride the momentum on the winning side.
