Approaching NFP
Tuesday, November 3, 2009
At the end of Asian trading session, GBP/USD fall down like a falling rain from the sky. I was able to capture some pips from this bearish trend on a daily time frame. The slope was steep enough to make the next trade. Situation like this creates a sense of corrective bullish trend.
EUR/USD also behave the same way on 30M time frame. However, I won't be able to capture any green pips because I set the sell limit too high, so I missed the big move. The same corrective bullish trend was expected for this pair. So, we have to wait for any significant movement of the market before we can execute any trade (just to be save).
This week, we have to be careful because NFP news release on Friday will shake the market on a gigantic scale. Non-Farm Payroll (NFP) is a very sensitive economic news.
EUR/USD also behave the same way on 30M time frame. However, I won't be able to capture any green pips because I set the sell limit too high, so I missed the big move. The same corrective bullish trend was expected for this pair. So, we have to wait for any significant movement of the market before we can execute any trade (just to be save).
This week, we have to be careful because NFP news release on Friday will shake the market on a gigantic scale. Non-Farm Payroll (NFP) is a very sensitive economic news.
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