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Forex Signal (Wednesday October 12, 2011 – 8:30pm EDT) – AU Employment Change

Discussion in 'Current Forex Trading Signals' started by Stavro D'Amore, Oct 11, 2011.

  1. Stavro D'Amore

    Stavro D'Amore Former FPA Special Consultant

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    Hello All,

    We have AU Employment Change numbers due, please be mindful of the bellow trade plan and be diligent with your trading.

    AU Employment Change
    Forecast 10K
    Previous -9.7K
    Pair to trade: AUD/USD


    Numbers we need:
    BUY AUD/USD 35K
    SELL AUD/USD -15K

    Economical Impact: High
    Typical Result: Good for Currency
    Occurrence: monthly 10 days after month ends
    Spike Probability: Good, we can see 40 pips on initial spike

    About our Triggers:
    AU Employment Change forecasted to arrive at 10K
    We are looking for a deviation of 25K to the upside to BUY AUD/USD and a deviation of 25K to the downside to SHORT AUD/USD
    So the summary is we get 35K or better I will look to enter a LONG position on AUD/ USD and if we get -15K or lower I will go SHORT on AUD/USD.
    Should this report be triggered, we can expect to see about 40 pips on the initial spike.
    This trade will have a good chance of a 30% retrace on the initial spike so I recommend trading the retracement method as stated bellow.

    NOTE: We a conflict of AU Unemployment numbers that is due to arrive the same time, this is forecasted at 5.3% and is expected to come at 5.3%.

    What is it? And why does the market care?
    The Unemployment Rate is a measure of the percentage of the total labor force that is unemployed but actively seeking employment and willing to work in Australia.
    A high percentage indicates weakness in the labor market. A low percentage is a positive indicator for the labor market in Australia and should be taken as positive for the AUD..

    Method I use to trade this:
    Stavro D’Amore Trading Method

    There is no Pre news; however in saying this we might see a little sell off in the AUD before the release.

    I do recommend spike trading as an option. Liquidity is very good at the moment if you are using an ECN broker. Please use no more than a 15 pip limit order to control slippage.

    I will look for a 30% retracement in the original spike before entering. I will be looking at a 5 minute chart. 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 the original spike price.

    My TP level would be just before a resistance level or if the chart decides to form a support level, looking at a 15 minute chart time frame to analyze this.

    Historical Chart and Data for AU Employment Change

    All the best

    Stavro D’Amore
     
    #1 Stavro D'Amore, Oct 11, 2011
    Lasted edited by : Sep 8, 2016
  2. windsong

    windsong Recruit

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    AUD employment

    Hi Stavro Thanks for info.
    I am in South Africa were/when or how do I get the aud employment outcome/announcement? Do you send a signal of the out come?

    Thanks

    Chris
     
  3. dotman

    dotman Recruit

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    Good work, sarv!

    Thank you for the analysis, God bless you.
     
  4. yurps

    yurps Private

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    there is another piece of data which will determine whether this one works or not....its off all the big news trader radars...lol


    ;)
     

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