Hi
I currently trade the non farm payroll report on GBPUSD. My strategy works at it’s best where the news creates a momentum for the hours that follow the news.
I quite new to trading fundamental trading.
I’m interested to hear what major news announcements the Babypips crew think might create momentum for the rest of the trading day (or following 4 hours) and what pairs \ indicies would be good to trade for that news.
Rich
Liquidity will dry up before and after a major news release.
Have you noticed anything about the “following 4 hours” post-NFP?
Asia is offline, London is rotating out and only NYC is up after NFP- the “4 hours” after NFP is a mine-field if you ask me. There’s absolutely no point in trading on a FRI @ 330PM EST. The major players made their money 5+ hours ago and wrapped up for the week.
There are no news having such long impact (talking about periodical economical releases). NFP affects price for no more than 10 min, main disruption happens on the first second after release, the rest is retracement movements (finding balance after disturbance). Trade on NFP during retracement phase, put orders on gold and EUR/USD (IMO best liquidity and lowest slippage are on that pairs), get best slippage on Tickmill (only 10 pips in average), don’t hold positions for more than 2 min.
Retail Sales are also market-shifting release so would advice to trade it too…
Thanks for your advice guys
I agree that my strategy will mainly trade the retracement but I disagree this only lasts 10 minutes. That said last month the initial move on the GBP\USD was a gain on the USD and gains continued for the rest of the afternoon.
@profitbaby you mention Retail Sales news. Is this a monthly report that’s released in the US? If so do you know the date it’s released?
us retail sales on 14th april 2015 8 30 am ET i think.
canadian numbers on employment today made a nice move.
i figure eurusd for nfp as eur is broadly going down and usd broadly going up, so should make for a bigger move but i’m not sure any of that is very true. i am becoming more fond of the cad. if u are on gbp keep an eye on euro too i think.
