HOW TO USE THE ECONOMIC CALENDAR ON THE POCKET OPTION PLATFORM

WHAT IS THE ONLINE ECONOMIC CALENDAR?

Maybe we often hear what is called an online economic calendar in forex and binary options trading. An economic calendar is an analytical tool necessary and very useful for trading, this tool is not only for standard trading platforms (such as Forex) but this tool can also be used for us use it when trading binary options on several cryptocurrency trading platforms, such as Pocket Option, and so on.

But you need to know that the economic calendar for binary options contains a schedule of all the most important events and news that can affect the market. The most important political and economic events are usually known in advance. Each event is associated with a specific country, which means that the value of Exchange rates can change dramatically after news releases.

Economic calendar data can be used in several ways, for example:

can be used to make successful transactions during news releases, and to make money on market movements.
can be used to determine in advance the times when there is a high probability that the market price will fall (due to the release of FUD), so we can refrain from trading during this time.

How to use the economic calendar on Pocket Option?

Alright, so for example here we have an economic calendar, data that displays what events are expected to be short. At the same time, We can also check the information that has become history, what data has been released in the market, and how it affects the behavior of the market prices behind the particular asset we are interested in.

There are all kinds of indicators (time, which is displayed in the left or right column of the calendar, depending on your interface settings, followed by the country flag related to certain news). A good example is the US Retail Sales report. There are times when Yen currency pairs like EURJPY are

the preferred currency pair to trade this news item, not the traditional USDJPY currency pair. Try to find a currency pair best for trading news items.

Attention will then turn to the name of the news release. Click on any link here to read a bit about the news to trade and the meaning of positive or negative numbers for assets. Next, attention turns to numbers: actual, consensus, previous, and revised figures. But not a few traders ignore revisions to their own detriment. Though the revised figure can determine the response to the latest release, because

market participants may become more bullish, bearish, or neutral than if there was no revision.

You need to know that an asset will be bullish if the difference between the actual and expected numbers is more positive, and bearish if the parameter is more negative. The level of volatility is determined by the degree of deviation, as well as the degree of deviation between the actual and previous results. Therefore

keep an eye on positive news and various FUDs, which affect the outcome of important economic events of great importance to every trader, can easily use to your advantage because practically, any small thing can affect the increase or decrease in the price of a particular asset.