Stavro D'Amore
Former FPA Special Consultant
- Messages
- 547
Hello
Please see my trade plan below
ADP Non-Farm Employment Change
Forecast 190K
Previous 325K
Pair to trade: EUR/USD
Triggers we need: BUY 145
SELL 235
Economical Impact: High
Typical Result: Actual forecast is good for the currency
Occurrence: This data Released monthly, about 2 days after the month ends.
About our Triggers:
If US Non-Farm Payroll Employment Change number comes out at +45 or less EUR/USD should go down by about 40 pips. We are using triggers of -45 for short.
If it comes out at +45K or better EUR/USD should go up by about 30 pips.
We are using for +45 trigger for long.
What is US ADP NFP? Why do we care?
ADP provides payroll services to many Businesses in the US. They use the data collected from their customers to derive the overall employment estimations. Job creation is an important leading indicator of consumer spending, which accounts for a majority of overall economic activity.
The total nonfarm payroll accounts for approximately 80% of the workers who produce the entire gross domestic product of the United States. The nonfarm payroll statistic is used to assist government policy makers and economists determine the current state of the economy and predict future levels of economic activity
Method to trade this:
Stavro D’Amore Trading Method
Please keep in mind possibility of Revision number before entering any of these strategies.
Prior to the release (20-15 mins) I will be looking for a short term short position in USD/JPY and I will get out of this trade 30 seconds before the actual release or any spreads that should widen.
I'd recommend spike trading as the best option when there is great uncertainty in the markets; also the liquidity is very good at the moment if you’re using an ECN broker.
I will look for a 50% retracement 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 time frame.
Historical Chart and Data for US ADP Non-Farm Employment Change
All the best
Stavro D’Amore
Please see my trade plan below
ADP Non-Farm Employment Change
Forecast 190K
Previous 325K
Pair to trade: EUR/USD
Triggers we need: BUY 145
SELL 235
Economical Impact: High
Typical Result: Actual forecast is good for the currency
Occurrence: This data Released monthly, about 2 days after the month ends.
About our Triggers:
If US Non-Farm Payroll Employment Change number comes out at +45 or less EUR/USD should go down by about 40 pips. We are using triggers of -45 for short.
If it comes out at +45K or better EUR/USD should go up by about 30 pips.
We are using for +45 trigger for long.
What is US ADP NFP? Why do we care?
ADP provides payroll services to many Businesses in the US. They use the data collected from their customers to derive the overall employment estimations. Job creation is an important leading indicator of consumer spending, which accounts for a majority of overall economic activity.
The total nonfarm payroll accounts for approximately 80% of the workers who produce the entire gross domestic product of the United States. The nonfarm payroll statistic is used to assist government policy makers and economists determine the current state of the economy and predict future levels of economic activity
Method to trade this:
Stavro D’Amore Trading Method
Please keep in mind possibility of Revision number before entering any of these strategies.
Prior to the release (20-15 mins) I will be looking for a short term short position in USD/JPY and I will get out of this trade 30 seconds before the actual release or any spreads that should widen.
I'd recommend spike trading as the best option when there is great uncertainty in the markets; also the liquidity is very good at the moment if you’re using an ECN broker.
I will look for a 50% retracement 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 time frame.
Historical Chart and Data for US ADP Non-Farm Employment Change
All the best
Stavro D’Amore
