I used a straddle for first wave trade to enter long GBP at 1.9984 and exited on initial spike at 1.99.
Then entered again on the retrace at 1.9984 but exited for only a few pips profit. I realise that I did not play this second wave trade very well and this was mainly due to that I could not see properly the NFP numbers that came out. I normally read the numbers from a broker's news or Forex Factory but both did not work well. Given that the news were dollar negative, there was much more potential in this second wave trade than what I got for it.
Then entered again on the retrace at 1.9984 but exited for only a few pips profit. I realise that I did not play this second wave trade very well and this was mainly due to that I could not see properly the NFP numbers that came out. I normally read the numbers from a broker's news or Forex Factory but both did not work well. Given that the news were dollar negative, there was much more potential in this second wave trade than what I got for it.