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  • #338,521
  • Dec 3, 2010 6:19am Dec 3, 2010 6:19am
Quoting T@rantula
the best confirmation at this moment is to close ur trades. in an hour and a half NFP will be released.

There is no valid technical patterns for me at this time. Solely concentrating on trading the actual news.

1 point thou. m30 is trending up. I will concentrate my efforts to trade the news in that direction.
Thanks its not broke up or down yet so no trade but the falsies are a pain.
making green pips large and red pips small this is my goal.
  • #338,522
  • Dec 3, 2010 6:19am Dec 3, 2010 6:19am
Quoting mercy seat
Yes ... and another possibility is ... 15 seconds prior to release set an entry stop (a tight stop entry) either side of the current level then ...

Lustig ... aprox 10 - 20 pips in distance from prior release levels ...
yes thats a common trading approach. Put stop orders on both sides. However,

my style is to put a stop order in the direction of main trend (in this case its m30 tf as it is clearly trading up). Due to high volatility I will also calculate exit points and place it.

Why? Because I have a support down below and i dont want to trade below that support. If the actual news go in the opposite direction my trade will be cancelled.

Also there is a separate account for trading NFP solely.
  • #338,523
  • Dec 3, 2010 6:19am Dec 3, 2010 6:19am
Quoting teemo
Point taken friend! I didn't say there is no allignment btw. Dow & others. For me, S&P is the Mom & Dad of the US Equities market; that's all, which means for me I take it's moves much more seriously. But whatever works for your trading is great.
Trade Well & Happy Holidays!
No worries, you too mate!
  • #338,524
  • Dec 3, 2010 6:20am Dec 3, 2010 6:20am
the whole day nothing happening .

I have pending short limit @ 3345 since 2 hours . will see what this freaking news will do .
I SEE YOU !!
  • #338,525
  • Dec 3, 2010 6:20am Dec 3, 2010 6:20am
http://www.forexfactory.com/showpost...stcount=338369

Almost by the book. Now let's see what the NFP will do to our preferred currency. Because they moved it up, I expect a dive. 3204, 3182 possible.

I have the upside at 3333.
  • #338,526
  • Dec 3, 2010 6:21am Dec 3, 2010 6:21am
Quoting paul1
Thanks its not broke up or down yet so no trade but the falsies are a pain.
2h prior to NFP liquidity dries up..
  • #338,527
  • Dec 3, 2010 6:21am Dec 3, 2010 6:21am
Quoting teemo
Pretty good Confluence...3300 area also acted as both S&R turning point a few times in the past. Will sit on my hands until after NFP and see if I can get a prime entry off the spike. Hope it doesn't dive before though.
http://www.forexfactory.com/showpost...postcount=3674

TLC has same view as you...
Mine is a little different, i posted mine also in this thread.
  • #338,528
  • Dec 3, 2010 6:24am Dec 3, 2010 6:24am
Good morning. GLTA out there who are already positioned in on a buy on eu.

I see order buying coming in for expectancy of bad numbers expecting EU to go up
Know when to hold em, Know when to fold em!
  • #338,529
  • Dec 3, 2010 6:24am Dec 3, 2010 6:24am
Quoting T@rantula
2h prior to NFP liquidity dries up..
That explains this price action thankyou.
making green pips large and red pips small this is my goal.
  • #338,530
  • Dec 3, 2010 6:25am Dec 3, 2010 6:25am
but better wait for the NFP news to blow over before trading technically again...
  • #338,531
  • Dec 3, 2010 6:25am Dec 3, 2010 6:25am
Quoting attila
Almost by the book. Now let's see what the NFP will do to our preferred currency. Because they moved it up, I expect a dive. 3204, 3182 possible.
That's not a big dive. But why you expect a dive?
  • #338,532
  • Dec 3, 2010 6:26am Dec 3, 2010 6:26am
Quoting T@rantula
yes thats a common trading approach. Put stop orders on both sides. However,

my style is to put a stop order in the direction of main trend (in this case its m30 tf as it is clearly trading up). Due to high volatility I will also calculate exit points and place it.

Why? Because I have a support down below and i dont want to trade below that support. If the actual news go in the opposite direction my trade will be cancelled.

Also there is a separate account for trading NFP solely.
hmm ... ok ... one hour left for us ... until that ... twiddle thumbs ... and further hot tea and cigarettes ...

2013-07-31 Today's Phrase of the Day: Hold off from any recycle bin experts
  • #338,533
  • Dec 3, 2010 6:26am Dec 3, 2010 6:26am
Quoting paul1
That explains this price action thankyou.
no problem at all.
  • #338,534
  • Dec 3, 2010 6:28am Dec 3, 2010 6:28am
Quoting mercy seat
hmm ... ok ... one hour left for us ... until that ... twiddle thumbs ... and further hot tea and cigarettes ...

Not too many cigs mate. Not good
  • #338,535
  • Dec 3, 2010 6:31am Dec 3, 2010 6:31am
Quoting cloggie
Support zone is being tested.
Quoting cloggie

On the lower TF's 3240-3250 will need to remain support

Technically I am looking at a wedge/pennant forming 3240-3262

Lower TF support zone is slowly inching up, now 3250-3256, top trigger is still 3262, bottom line in the sand is now 3248. We are still ranging and the topside still does not look good from where we are now.
  • #338,536
  • Dec 3, 2010 6:31am Dec 3, 2010 6:31am
Quoting goods
Good morning. GLTA out there who are already positioned in on a buy on eu.

I see order buying coming in for expectancy of bad numbers expecting EU to go up
Is that the normal PA for bad NFP numbers? I would expect US equities to move down and EUR go down as it would be a risk off situation.

I am thinking that the NFP will be better than expected and the end result will be EUR going up.

How has the EUR reacted to NFP in the past? I haven't followed this before.
  • #338,537
  • Dec 3, 2010 6:32am Dec 3, 2010 6:32am
Is the NFP results in about 1 hour time going to have great impact ???
  • #338,538
  • Dec 3, 2010 6:32am Dec 3, 2010 6:32am
Quoting goods
Good morning. GLTA out there who are already positioned in on a buy on eu.

I see order buying coming in for expectancy of bad numbers expecting EU to go up
ADP was better than expected. NFP does not always follow ADP but it usually does.

a nice green NFP number will drop E/U and the chance for a long fade will follow. if it prints red just the opposite may ensue.

hey, its forex though, anything can happen. look at the sneaky ecb play yesterday.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #338,539
  • Dec 3, 2010 6:33am Dec 3, 2010 6:33am
Quoting orangeRANGE
That's not a big dive. But why you expect a dive?
You always have to look at what THEY do BEFORE the news. What usually happens, this case for example, is they drove it up as much as they could in order to drop it from the highest point possible (THEY already know what the NFP numbers will be). It doesn't happen all the time, but it's something to pay attention to.

It seems the NFP will be better than expected.

edit: I only glanced, I believe the futures are only slightly up.
I wasn't talking about this retrace, but the real move after 8:30 - 9 am
  • #338,540
  • Dec 3, 2010 6:33am Dec 3, 2010 6:33am
Quoting DudeSepii
Is the NFP results in about 1 hour time going to have great impact ???

That's the only thing in town today. A number outside the range could well see 200 pip whipsaws, a number within the range but outside of expectation could see 100 or so. If you have never traded NFP before, I suggest you just stay out, watch and enjoy.
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