Forex Signal (Wed November 10 2010, 7:30pm NY Time EST) - AU Employment Change

[PipDog]

I understand the retracement method. You are right, the +9k was not much, it was a no trade. But the 0,3% deviation for the unemployment rate is A LOT & is tradeable!!

Sometimes you have to think with your own head too, not only with Henry's. I think nobody expected for a 0,3% deviation from the unemployment rate. But thats a tradeable deviation.

Just check the 1M chart again, and delete the +40 spike from the front in your head because thats a no trade as you mentioned too. But the 0,3% unemployment rate deviation is A TRADE if you use the retracement method, and sell the AUD/USD.

If you only look at the Unemployment Rate as the news to trade, then what you had was a very tradeable deviation...see the 80 pip spike over several minutes. What you absolutely did not have was a Retracement of any kind on this reaction. The bad news simply drove the AUDUSD down, and it did not retrace.

I sold at 1.0076 literally like 3 seconds after the Employment Change came out. From there, the Employment Rate came out and the pair plunged. I was never negative on this trade because it never retraced. Within 30 seconds I was at least 30 pips up and it only got better over the next few minutes. At about 10 minutes post news I was out completely and the pair was below 1.000.

Sorry, no Retracement. If you made money on this one, it's because you got in on the spike down due to the bad Unemployment Rate news...like I did.

 

[peti305]

...
Sorry, no Retracement. If you made money on this one, it's because you got in on the spike down due to the bad Unemployment Rate news...like I did.

Retracement after unemployment rate:

ImageShack: Host and Share your Photos and Videos - audjpy.jpg