Hello traders and hello investors,
I would like to present to you a short strategy that I use for the very high impact news as NFP, Employment Change, GDP, Unemployment rate.
TF used is 5m. Wait for the first candle after the news to close. This is my candle 1, the reference one. Wait the first engulfing outside candle that close above or bellow the high or the low of the candle 1. This is my candle 2. Entry point.
The Stop Loss line is set at the high or low of the candle 2. The risk reward to use is 1:1.
Here is the EURCAD chart with the explanations.
Results for today, including the reaction of the market to the UK elections and the Employment Change of Canada are quite good: +192.4 pips and +6.84% net profit. I have finished the week with 354 pips and 12.02% profit. Not too bad for a small week.
I wish you a nice weekend,
Ioan
I would like to present to you a short strategy that I use for the very high impact news as NFP, Employment Change, GDP, Unemployment rate.
TF used is 5m. Wait for the first candle after the news to close. This is my candle 1, the reference one. Wait the first engulfing outside candle that close above or bellow the high or the low of the candle 1. This is my candle 2. Entry point.
The Stop Loss line is set at the high or low of the candle 2. The risk reward to use is 1:1.
Here is the EURCAD chart with the explanations.
Results for today, including the reaction of the market to the UK elections and the Employment Change of Canada are quite good: +192.4 pips and +6.84% net profit. I have finished the week with 354 pips and 12.02% profit. Not too bad for a small week.
I wish you a nice weekend,
Ioan
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