News and Trading - Non Farm Payroll

Trading Discussion
1

So today is the 1st friday of the month - Non-Farm Payroll.

Numbers came pretty much neutral and unemployment rate was higher than before therefore suggesting that unemployment is increasing in the USA and that the economy is not doing well.

However,not at all times does the market act in correlation to the news.And we can see that today as well.
It goes to reinstate the point that to only enter the trade when it fits your plan and when price crosses the supply and demand levels that you are looking at.

The supply and demand levels that we look at are based on swing high and low algos formulas.
I am pretty interested to know what supply and demand levels do other traders look at and how are they derived?

Any comments and opinions on this would help.

2

A pair like EURUSD had already been trending for quite some time and it should not be a surprise that market had already discounted news like this.

As far as I know most people here don’t use sophisticated algos for determing supplay/demand levels, they simply take a look at chart.

3

I do not know what are supply and demand levels. I am using basic support and resistance levels to trade. I’m assuming it refers to the same thing?

I also use SMA 20 and 50 to indicate trend and range.

I trade when market is trending only. Usually when price retraces back to SMA20/50 and near to support/resistance.

4

I do not know what are supply and demand levels. I am using basic support and resistance levels to trade. I’m assuming it refers to the same thing?

I also use SMA 20 and 50 to indicate trend and range.

I trade when market is trending only. Usually when price retraces back to SMA20/50 and near to support/resistance.

5

Hi
Thanks for the information.