Good Friday NFP 60 replies
Last Week Friday NFP announcement. 8 replies
DislikedI wish the number would have fir my trade plan-but I don't feel too bad about it. It would have been much easier to trade if the NFP and revision had matched-turned out they went in opposite directions.
In hindsight, you could say that the market traded off the revised number, and the uptick in the unemp rate. You can look at the chart and see that the euro traded in a channel from 3290 to 3270 since about 13.00 yesterday. It broke that channel right after the NFP, reversed and broke that channel to the upside about 20 minutes later. Perhaps that was a good clue.
If you had thought that the market might ignore the NFP and trade off the revision and if the break of that channel was a significant moment, you could have made some money. If u did, my hat's off to ya!
All I heard on BB was how wonderful this number was for the $. 10 yr bonds were off as the rate rose. It isn't too often that we see the $ and the 10 yr note going in opposite directions, but we have that now.
So again, I had a plan, I was looking for the numbers to come out a certain way and when they didn't, I stayed out. I never feel bad if I miss something, because I always feel that if I would have traded in the heat of battle under these conditions I would have lost. So I preserved some capitol for the next trade.Ignored