Stavro D'Amore
Former FPA Special Consultant
- Messages
- 547
Hello Members,
Before we wrap up the week with our last news trade, please find my trade plan for US NFP Employment change
US NFP Employment Change
Forecast 53K
Previous 0K
Pair to trade: EUR/USD
Triggers we need: BUY -60 SELL +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 Change number comes out at +113 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 -7 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?
The Nonfarm Payrolls measures the change in the number of employed people during the last month of all non-farming businesses. The total non-farm payroll accounts for approximately 80% of the workers who produce the entire gross domestic product of the United States.
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 eill look for momentum long indicators.
Spike
Yes. I would recommend spike trading as an option.
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 50% 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 Change
All the best
Stavro D’Amore
Before we wrap up the week with our last news trade, please find my trade plan for US NFP Employment change
US NFP Employment Change
Forecast 53K
Previous 0K
Pair to trade: EUR/USD
Triggers we need: BUY -60 SELL +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 Change number comes out at +113 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 -7 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?
The Nonfarm Payrolls measures the change in the number of employed people during the last month of all non-farming businesses. The total non-farm payroll accounts for approximately 80% of the workers who produce the entire gross domestic product of the United States.
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 eill look for momentum long indicators.
Spike
Yes. I would recommend spike trading as an option.
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 50% 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 Change
All the best
Stavro D’Amore
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