Stavro D'Amore
Former FPA Special Consultant
- Messages
- 547
Hello
Today we US Nonfarm Payroll employment due to arrive; please see my trade plan and analysis below. Unemployment uis forecasted at 8.3% previous was 8.3%
US NFP Employment
Forecast 205K
Previous 227K
Pair to trade: EUR/USD
Triggers we need:
BUY 265K (Deviation-60)
SELL 145K (Deviation -60)
Economical Impact: High
Typical Result: Forecast is good for the currency
Occurrence: Released monthly, usually on the first Friday after the month ends
About our Triggers:
If the US NFP Employment number comes out at +265 or more, the EUR/USD should go down by about 40 pips. We are using a deviation of +60 for the short.
If it comes out at 145K or less EUR/USD should go up by about 40 pips. We are using -60 to trigger for long.
I would usually consider trading USD/JPY but strongly believe that current conditions id not suitable for this pair.
What is it? Why do we care?
It is the single most important piece of data contained in the employment report, which considered offering the best overview of the economy.
The monthly changes and the revisions in payrolls can be quite volatile.
A higher than expected reading should be taken as positive/bullish for the USD
A lower than expected reading should be taken as negative/bearish for the USD.
Method to trade this:
Stavro D’Amore Trading Method
Pre News
Prior to the news release (20 minutes) I will be looking for a short term LONG position in EUR/USD and I will get out of this trade 2 minute before the actual release earlier. I will look for momentum long indicators and Fibonacci retracement levels.
Spike
Yes. I would recommend spike trading as an option if you have the right broker and setup.
After Spike
If your are not spike trading or if you did do a spike trade and your already out, I will look for a 25% retrace in the original spike before entering a trade. I will sell half my position as soon as I hit the original high point of the first initial spike and place a SL at entry price. My TP level would be just before a resistance level or if the chart decides to form a level, looking at a 15 min chart.
Historical Chart and Data for US NFP Employment
To our sucess
Stavro D’Amore
Today we US Nonfarm Payroll employment due to arrive; please see my trade plan and analysis below. Unemployment uis forecasted at 8.3% previous was 8.3%
US NFP Employment
Forecast 205K
Previous 227K
Pair to trade: EUR/USD
Triggers we need:
BUY 265K (Deviation-60)
SELL 145K (Deviation -60)
Economical Impact: High
Typical Result: Forecast is good for the currency
Occurrence: Released monthly, usually on the first Friday after the month ends
About our Triggers:
If the US NFP Employment number comes out at +265 or more, the EUR/USD should go down by about 40 pips. We are using a deviation of +60 for the short.
If it comes out at 145K or less EUR/USD should go up by about 40 pips. We are using -60 to trigger for long.
I would usually consider trading USD/JPY but strongly believe that current conditions id not suitable for this pair.
What is it? Why do we care?
It is the single most important piece of data contained in the employment report, which considered offering the best overview of the economy.
The monthly changes and the revisions in payrolls can be quite volatile.
A higher than expected reading should be taken as positive/bullish for the USD
A lower than expected reading should be taken as negative/bearish for the USD.
Method to trade this:
Stavro D’Amore Trading Method
Pre News
Prior to the news release (20 minutes) I will be looking for a short term LONG position in EUR/USD and I will get out of this trade 2 minute before the actual release earlier. I will look for momentum long indicators and Fibonacci retracement levels.
Spike
Yes. I would recommend spike trading as an option if you have the right broker and setup.
After Spike
If your are not spike trading or if you did do a spike trade and your already out, I will look for a 25% retrace in the original spike before entering a trade. I will sell half my position as soon as I hit the original high point of the first initial spike and place a SL at entry price. My TP level would be just before a resistance level or if the chart decides to form a level, looking at a 15 min chart.
Historical Chart and Data for US NFP Employment
To our sucess
Stavro D’Amore