Quote from: Alex-11 on August 02, 2019, 06:21:14 AM

Quote from: unwashed on August 01, 2019, 10:32:33 PM

That would mean that the reversals knew in advance that trump would open his fat mouth, sorry can't buy that.

Sometimes the news is only the catalyst for a trend that is in motion anyways or it coincidentally happens that news is published near reversal points. Another possibility is that some market participants have insider knowledge and the market is moving ahead of some news.
Sometime though, In my experience news will just blow away support or resistance of reversals. But there is a tendency that this doesn't happen.

Yes sometimes news is a catalyst and sometimes it's a dud. My point is, unless there was reversal in all instruments that reversed then the validity of the reversal is in question. I was long a FX trade yesterday and sold it for a profit cause it was turning and then trump comes out with a market moving tweet and the pair shoots up 10 more pips. Gold reversed also and was up 30 pts, Euro and Dollar reversed, so again unless there are reversal for all these and the many many others you really can't say the reversal worked. Coincidence yes, also known as luck. The first reversal fell on Fed day(sell the news) and the second on Tweet day (Trade war), not exactly a pure test IMO.