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Forex Signal (Fri, April 02, 8:30 am EST) US NonFarm Employment

Discussion in 'Current Forex Trading Signals' started by Crazy Cat, Apr 1, 2010.

  1. Crazy Cat

    Crazy Cat Former FPA Special Consultant

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    Hi there :)

    This is Crazy Cat with a potentially profitable trading opportunity...

    Friday, April 02nd (8:30 am New York Time) USA

    We have US NonFarm Employment Change coming out. It is expected to read 187. Last month it read -36.

    I recommend trading USD/JPY for this report.

    Please read what this indicator means and how it affects the USD/JPY by going to this link: http://www.forexpeacearmy.com/forex...ptions/7400-us-nonfarm-employment-change.html

    The trigger for this indicator is 60. This means that if US NonFarm Employment Change comes out at +247 or better, USD/JPY will probably go up by 50 pips or more in the first 45 minutes of the report. If it comes out at 127 or less, USD/JPY will probably go down by 50 pips or more in the first 45 minutes of the report.

    However, I might consider a bit bigger trigger on the sell side because even if it comes out at 60K less than expected, it is still a nice, three digits positive number - first positive number in so long time.

    We will also have US Unemployment Rate and Revision coming out. A deviation of 0.2 on unemployment rate is considered significant but chances are good it will not conflict. Revision is also important and a significant conflict with revision number may mute the move greatly.

    Obviously, the bigger the difference between expected and actual numbers, the bigger will be the move.

    To read the after-spike retracement strategy for this report click here: http://www.forexpeacearmy.com/forex...-change-after-spike-retracement-strategy.html

    For example: on January 08th, US NonFarm Employment Change came out at -85, versus an expectation of 0, and USD/JPY went down by around 100 pips. See for yourself what happened by seeing this chart: Forex news trading currency exchange charts

    I highly recommend you study the entire history and charts of this report by following this link:
    Forex News Trading | Details and History for USD Nonfarm Employment Change

    I hope you make some money on this report.
    -Crazy Cat
     
    #1 Crazy Cat, Apr 1, 2010
    Lasted edited by : Sep 8, 2016
  2. Lucas Gremista

    Lucas Gremista Private, 1st Class

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    i placed a sell stop order for this to test, it went through my trigger but it didn't enter the trade, the bar on my MT4 changed from green to yellow, anyone can tell me what happened?
     
  3. John Wimberley

    John Wimberley Recruit

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    I've been a member here for a while, but still a babe in the woods when it comes to trading.
    I could not find the news release for US non farm on the link given. I did find something on Employment, Hours, and Earnings from the Current Employment Statistics survey (National) Home Page, however by the time it was finally updated the news was too old. On top of that I got sucked by the big sell that happens moments before. Thank goodness I'm still using a free account.
    Where is the best place to get the news releases? Are they in a special radio / TV broadcast, tickertaped on TV show?

    Any help would be greatly appreciated
     
  4. Greggybaby

    Greggybaby Recruit

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    Hi there, as far as I can tell the dreaded 'whipsaw' happened - strong move in one direction followed by a strong reveral seconds later. I am guessing that the initial move was based on sentiment and when the actual figures were publically available they were contradictory to the sentiment?
    I think the only mistake I really made was not to place a limit order which would have mitigated the whipsaw.
    I'll be prepared next time!
     
  5. Greggybaby

    Greggybaby Recruit

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    Crazy Cat

    many thanks for this and all other high quality signals you send daily. Highly appreciated and bang on.

    The only issue I have is that it is next to impossible to digest the news in time to place an order. By the time one can respond the move already happened.... I have taken the approach that I place a 15-20 pip entry trigger either side of the resistance/support channel forming immediately before the announcement with a limit order of around 20-30. Of course I place a OCO order as well. This to me seems the only way to automate the whole process and catch those pips immediately as the move occurs. This is all done with an online s/b account as opposed to a broker.
     
  6. weirdgod

    weirdgod Recruit

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    @greggybaby - i was thinking of the same approach, but seeing this trade live today, i saw that half minute prior to news release, usdjpy went down 30pips in a jump... then it started to go up explodingly... and ended up 40+ pips 10 mins later... so... i am afraid advance order would present a risk of falling into this fast moving chaotic jumps moments prior to news release...

    so, i am looking for more info/possible solutions for autoclicker kind of product/service/whatever... but something that we, "little fish" with 1000usd accounts can afford... :)
     
  7. John Wimberley

    John Wimberley Recruit

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    I think the best thing is to find out how to get the info the moment it's released. Crazy Cat has given us a guide as to what should happen. If the market goes the opposite to what's expected then you know something's up.
     
  8. theblacktao

    theblacktao Recruit

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    Lost on Both Trades

    I placed a BUY-STOP Order @ 94.054 with an S/L @ 93.673 and a T/P @ 94.435, in addition I placed a SELL-STOP Order @ 93.673 with an S/L @ 94.054 and a T/P @ 93.292. I ended up losing 38 pips on each trade within seconds! What did I do wrong?
     
  9. Greggybaby

    Greggybaby Recruit

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    I also noticed this. I did not place the entry triggers until the very last minute, using the support/ resistance channel forming which included the movements five minutes prior to the time of the report. If I had placed a limit of say 20 instead of being greedy I think I would have been filled.
    :nerd:
     
  10. Greggybaby

    Greggybaby Recruit

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    Well for a start you needed to place a 'One Cancels Other' order, as this will delete your second order if the first one gets filled. Sounds like both your stops got triggered but neither of your limits (take profit) did so both stop losses got tripped due to the spike, retracement and spike in the other direction. The figures for this particular news event made usd/jpy whipsaw, perhaps next time i will try a retracement strategy rather than trading the initial candle - its just too hard to react to the news instantly :nerd:
     

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