Job creation is an important leading indicator of consumer spending, which accounts for a majority of overall economic activity.
Whatever, the Non-Farm-Payrolls data, generally released on the first Friday each month use to bring movement in the markets.
How can it be traded?
I recommend a breakout strategy:
1. The range is defined 5 minitus prior to data release, using 15 minute candles
2. Stop-Orders are placed 3 minutes before dara releas, a Sell-Stop order 1 point below the range low, a Buy-Stop order 5 points above the range high.
These orders are placed with Stop-Loss each the counterpart's entry.
3. It is possible to set a 10 to 15 points Trailing-Stop. (To act as one sees fit)
4. Refresh your Forex Factory Calendar to see the actual result. The corresponding order has to run, the other order has to be deleted immediately.
5. Rock 'n Roll
Don't close the order to soon, but be aware of crazy reactions! Because a whole lot of traders have placed Stop-Orders like that, if one direction is triggered, a strong movement is normally the result.
Whatever, the Non-Farm-Payrolls data, generally released on the first Friday each month use to bring movement in the markets.
How can it be traded?
I recommend a breakout strategy:
1. The range is defined 5 minitus prior to data release, using 15 minute candles
2. Stop-Orders are placed 3 minutes before dara releas, a Sell-Stop order 1 point below the range low, a Buy-Stop order 5 points above the range high.
These orders are placed with Stop-Loss each the counterpart's entry.
3. It is possible to set a 10 to 15 points Trailing-Stop. (To act as one sees fit)
4. Refresh your Forex Factory Calendar to see the actual result. The corresponding order has to run, the other order has to be deleted immediately.
5. Rock 'n Roll
Don't close the order to soon, but be aware of crazy reactions! Because a whole lot of traders have placed Stop-Orders like that, if one direction is triggered, a strong movement is normally the result.
