News report exit candlestick trading
When there is a forex news report, the market becomes very unpredictable and the wisest thing
that a trader can do is to exit the market. This is because, the there are very many forces in the market
at that time and if a trader has an open order and after the news release the market moves in the opposite direction,
the trader will automatically end up making very huge losses to an extent of the account being wiped out
if he or she had small cash amounts in his trading account. The candlesticks formed during a news release are very long.
However, if a trader anticipates that the news release will favour him or her,
he or she can leave his or her order open but place a take profit and a stop loss level. This reduces the risk.