Friday Jobs Report
Thank heaven for the Friday jobs report. Sometimes the jump after an important piece of data like this leaves the opportunity to buy on a "false dip" as I like to call them. This will happen when a pair drops quickly only to work its way back up very quickly.
This is exactly what happened last Friday when the jobs report broke at 8:30AM EST. I was able to buy at the bottom and sell pretty darn close to the top in a 5-minute span. Can't say this works every time but when it does it sure is satisfying. I've included the chart below to show the sudden drop. I only plan this strategy with EUR/USD since it is by far the most volatile pair so has the quickest jumps from one extreme to the other. You can see on the chart where I bought the pair as well as my stop and limit. You will notice in this case I am actually running two trades so I could double-up on the profits.
This is exactly what happened last Friday when the jobs report broke at 8:30AM EST. I was able to buy at the bottom and sell pretty darn close to the top in a 5-minute span. Can't say this works every time but when it does it sure is satisfying. I've included the chart below to show the sudden drop. I only plan this strategy with EUR/USD since it is by far the most volatile pair so has the quickest jumps from one extreme to the other. You can see on the chart where I bought the pair as well as my stop and limit. You will notice in this case I am actually running two trades so I could double-up on the profits.
posted by Morgan Linton at
8:48 PM
0 Comments:
Post a Comment
<< Home