Today is the most awaited report out USA,
Today at 8.30 Am EST we will have the :
Nonfarm Employment Change : -50,000
Unemployment Rate Expected at : 5.4
This is How I would trade It. :
USD/JPY
Pre-Spike Trade: I would like to sell USD/JPY before the news, but I will Not, This report is so carzy it can burn me out , it can go 100 pips against me etc....
Post Spike Trade:
This is how I would trade this Monstor:
I will explain assuming we have a Sell on the USD/JPY , we need to do the opposite if we have a Buy.
Wait For the 5 Mint Candle to Close:
Note the Lowest price on the 5 Mint Candle.
Place a Buy order at the Lowest price with a 40 Pip SL and 50 Pip Take Profit.
Based on the above staergy we would have had 6 trades in 2008 and all of them winners.
I have attached charts for your referance......
Today at 8.30 Am EST we will have the :
Nonfarm Employment Change : -50,000
Unemployment Rate Expected at : 5.4
This is How I would trade It. :
USD/JPY
Pre-Spike Trade: I would like to sell USD/JPY before the news, but I will Not, This report is so carzy it can burn me out , it can go 100 pips against me etc....
Post Spike Trade:
This is how I would trade this Monstor:
I will explain assuming we have a Sell on the USD/JPY , we need to do the opposite if we have a Buy.
Wait For the 5 Mint Candle to Close:
Note the Lowest price on the 5 Mint Candle.
Place a Buy order at the Lowest price with a 40 Pip SL and 50 Pip Take Profit.
Based on the above staergy we would have had 6 trades in 2008 and all of them winners.
I have attached charts for your referance......