Technical analysis is very important when it comes to the Forex market. Understanding that there is a consistent movement in the technical chart, it gives quite an overview in terms of the market trend in the forex market. There are multiple technical tools which are available in Revolttg for analysing the forex market. The Revolttg review states that the technical tools assist in adding value by confirming the market trends in a particular direction. This becomes highly crucial as the volatility of the market becomes quite tough to capture.
One of such tools that help in predicting the market movements and act as a leading indicator is the economic calendar. An economic calendar gives a complete overview in terms of the upcoming financial events which help in tracking the market efficiently. In this article, we will study a little bit more about the economic calendar and shall also understand its operation in Revolttg.
How does the Economic Calendar help in selecting the right trades?
The economic calendar is very crucial when it comes to understanding the trend of the market. Not only does it give a forward looking view but it also ensures that we are able to track how the market will react to the events.
These are the following utilities of the economic calendar for a trader:
- Economic calendars mostly come along with the Date and time for a particular event. A trader who is looking for precise trading in the Forex market can take advantage of this economic calendar by placing trades based on the event, date and time precisely.
- Economic calendars can be manipulated to find out the global economic events. So a trader can keep a track of global risk situations and may change his position in the market based on the same.
- Some of the economic calendars have the feature of sending in alerts, every time a major global event is going to take place.
Now that we are aware of the advantages of having an economic calendar, let us find out how to use the Economic Calendar of Revolttg.
Steps to use the Economic Calendar at Revolttg
- On the top left corner, select the location icon.
- A window pops up wherein, you can select the country.
- After selecting the country click on the apply button. The major events for the particular country will be listed.
- The economic calendar shows three specific figures: Actual, Forecast & Prior. It helps in understanding the trend of the event’s digits over time.
- You can click on the chart icon that is present next to the location icon. It displays the events which are of high importance.
To add an event to the calendar, click on the down arrow present next to the event. A dropdown menu will appear. Click on Add to calendar to add it to your personal calendar.
In conclusion, trading with Revolttg can only enhance your chances of making great leaps in forex market. With the economic calendar keeping you a step ahead, sign up right now to grow your forex trading journey in right direction!