one tight ass overnight range, what's the big deal with nfp anyway? some kind of self fulfilling prophecy and a gift for the manipulators...
nothing but a frickin' pain in the ass, most months you get untradable range, followed by untradable volatility, and by the time it picks a direction the week is finished...
...no mate, no self fulfilling prophecy. Is the most important data in the US and probably across the board. Inefficient, imperfect, and sometimes playing with fire with those statistical technicalities inside the number (as you know NFP have many components inside of it) to "mask" the true. However, the report goes a lot further than the manipulation short term, knee jerk reaction you see in a M5 in forex, or that huge spike in volatility ....Maybe you need to look at it from a different perspective and discard the day for trading (for the reason you said before) but look at it as potential game changer (continuation or reversal) in your general direction after settles or as "many around" as MIB area (in PTL words) if you are more short term oriented. When NFP is a mover, the Breakout and floor/ceiling of that range of that area (bar(s)) can hold for week(s) and even months as S/R ....
just my 2 cents.
In any case, Cable completed the knee jerk reaction clean up and now it can start the real move. Euro keep "lagging" this week and is mostly moving as collateral of other markets. No rejection of daily highs so nothing tradable yet....
GL today
sisse
Pending conversations? PM for a chat...I am mainly in OTM now
