1. This site uses cookies. By continuing to use this site, you are agreeing to our use of cookies. Learn More.

Forex Signal (Wednesday October 9, 2011 – 7:30pm EDT) – AU Employment Change

Discussion in 'Current Forex Trading Signals' started by Stavro D'Amore, Nov 8, 2011.

  1. Stavro D'Amore

    Stavro D'Amore Former FPA Special Consultant

    Joined:
    Jul 29, 2011
    Messages:
    485
    Likes Received:
    1
    Hello All,

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

    AU Employment Change
    Forecast 10.3
    Previous 20.4
    Pair to trade: AUD/USD

    Numbers we need:
    BUY AUD/USD 30K
    SELL AUD/USD -5K

    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 10.3K
    We are looking for a deviation of 30K to the upside to BUY AUD/USD and a deviation of 15K to the downside to SHORT AUD/USD
    So the summary is we get 30K or better I will look to enter a LONG position on AUD/ USD/ and if we get -5K 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, Nov 8, 2011
    Lasted edited by : Sep 8, 2016

Share This Page