Hello everyone, I know i'm supposed to be studying for exams.. but then, tonight is the first friday of the month... what? yes, US NFP aka Non-Farm Payroll annoucement will be out this day of the month. currently one of the most important USD data dat affect the price changes drastically.. (refer to my screenshot below). I managed to hold back trading past few days for studying, but NFP is so different man, the feeling is like all ur frens went to clubbing and u're alone at home, that kinda of feeling u noe? especially on a friday night or ur favourite retro night. ok anyway juz a short one here..
I was watching most of the currency pairs, especially Eur/Usd & Aud/Usd. After the annoucement, or should i say, right at the spot of the annoucement, as close as 9.30pm (singapore time), the candle stick appear in the chart like how david copperfield suddenly stand in the middle of the audience the lastime he came here for a performance.
just a minute b4 the annoucement, i was still contemplating to long or short. the forecast on NFP was good, but i was kinda draw-back when the ADP NFP Change on wednesday was below forecast. i short close to day high on Aud/Usd, setting S/L @ 5 pips above day high, which was about 20 pips away, much less than 2% MM. price will breakout either way, so no point setting it far away if it break-up u juz gonna lose more, thats how i felt. My take-profit was set on the next fibonacci. well, didnt get to ride the whole stick, but some encouragement during my study period, opps.. so guilty. anyway here is the report:
(Courtesy of ForexFactory.com)
USD Non-Farm Payroll Change: -190K (Actual) -173K (Forecast) -263K (Previous)
USD Unemployment Rate: 10.2% (Actual) 9.9% (Forecast) 9.8& (Previous)
Both Reds. and you wonder why majors (except for Usd/Jpy) spike towards the dollar? Beats me.
i love riding on retracement but i think i shall call it a day. have fun everybody, i need to go back to my books, wish me luck on my exams.. i wish u luck on ur trades :)