Btw, i wanted to ask, i had to double check last night on the babypips calendar, but wasn’t NFP supposed to be today?
I realise its the first Friday of every month, so shouldn’t that be today?
I was thrown by this, too - NFP is supposed to be the first Friday of every month, as long as that does not fall on the first day of the month, in which case it falls to the second of the month. I didn’t log on this morning as I don’t trade intraday on NFP - then I realized mid-morning that for some reason this month NFP is next Friday, 9th March. Don’t know why, but that’s what my news alerts are saying.
Well ST if it makes you feel better you were not the only one thrown off by this today. Its ok though ST you can have 2 days off this month. Just dont let it happen again
You’re quite right, Bob, got to sharpen up, definitely dropped my guard there and lost a morning’s trading. Fortunately my EUR/JPY end of day short from Wednesday has saved the day from being a total write off by finally moving in the right direction!
my order has been filled… let’s see what bring us next week…
I was actually watching the price and hoping it went down and hit your buy order… Talk about a pip perfect entry?! Oh Yunny, teach me your ways! lol
This is looking to be a beautiful trade for you…
Happy trading!
P.S. I really need to stop watching the price fluctuations so closely for no reason, they drive me crazy! lol
Thank you Sanj… but still early to tell if it was a good entry, i am aiming for at least 100 pips. The risk is the weekend and the fact that this move looks more like a reversal than a retracement…
Seems to be the way for 2 months now am. Making pips and losing pips and at the end of the week coming out having broken even.
The one big difference is that I am likely to only place one trade a day as one of the thoughts in my trade plan is only to buy at extremes which don’t happen everyday. Which has lead to me moving to making 30-50pips a trade whereas before I was only getting 10-15 pip moves. Also have started to be comfortable not looking at the screen when I have a trade on due to my risk managment. Do like this thread always interesting thoughts on it.
Very shallow bounces so far. I didn’t like the look of the PA this afternoon so I closed for a small gain at 1.3108 and will take a look again on Sunday night. If I had to guess now I think we’ll open next week either flat or lower.
Earlier this week I heard on cnbc that the NFP doesn’t fall on the first Friday of the month, but it falls on the third Friday after some kind of a rating or measuring period. Go figure?
Edit, here’s the info
[I]The Bureau of Labor Statistics releases preliminary data on the third Friday after the conclusion of the reference week, i.e., the week which includes the 12th of the month, at 8:30 a.m. Eastern Time; typically this date occurs on the first Friday of the month.[/I]
Hey everybody
Hope you all had a good weekend…
Got up early this morning to have a look at my charts before work. Set a buy limit for USD/CHF, which i got notified triggered when i got to work, only to realise it was a large price fluctuation that literally triggered my trade nearly to the pip, only to fall 30pips down to my stop. I still feel the price will reach around the 0.9200 area, so have put myself back in the trade. Currently sitting on +10 pips but lingering around a previous demand zone, going to let it play out but think it should break through…
Didn’t like the looks of the charts after seeing my limit get triggered and stopped within the hour, was quite choppy, don’t know if i like trading monday mornings, may start to sit monday morning’s out - or mondays out entirely…
Anyway, good luck to anybody trading today
SanJ
Yes EU is ranging at present but support is currently holding @ 3181… we’ll see. Sunday evening and into today I’ve switched tactics and just scalped 4-10 pips a time. Currently at +55. So may stay out now unless we see a definate direction.
Nice job!
Still havent tried scalping yet, don’t know if i could hack it as constantly watching the price drives me crazy. How low you go on your TF when scalping?
Guess i should try it while still learning at some point before ruling it out all together…
Yeah i noticed the support on EU too, personally too choppy for me hence staying out for now and trying to trade other pairs. Although i still swayed to thinking we’ll see a dip to the 3100 in the longer term… But who knows! lol
Me personally when its like this… 1&4h.
EDIT: Looks like we might have a tentative breakout high.
update: SL now at B/E, take profit at 1.3279
Wahooo and free trade and just love it when that happens :35:
Got home and caught a doji on the 30min EU, took my first scalp and im out for +10… That was quite a rush lol! I’m used to playing the longer game
Well don’t go trying it now… normal service has resumed… went long on the retrace @ 3205. :21:
It was just that one for me today, saw the doji and PA on the 30minute looked like it was agreeing at the time so went with it, was out with +10 and happy…
Still got couple trades running from today, will let them run through into tomorrow and think i will get started on petefader’s threads tonight
Happy trading!
I’m short currently from 1.3233. Looked like a risk-off day all over but didn’t get the kind of correlated drop in E/U today that I thought we might so I’ve moved my stop to B/E to be safe. Guess the market might have gotten a little too short too quickly and is covering or booking profit.