I was chasing this NFP since the beginning of my trading career because it's one of the tricks that my so called mentor broker agent is trying to teach me.
He is always excited during first friday of the month.
But now, after so many first friday of the month have past I realize that NFP data is not worth it to trade.
It's my personal opinion and personal experience that data on NFP will not affect how the price will react or behave based on the NFP data.
Last week data of NFP is worse than expected, it is really low and if you will tell me to trade that data from the stand point of an investor you will see that US dollar will go down.
But before the friday ends it's a different story on the chart.
Then comes the monday, look the chart below how the price of USDJPY skyrocket!
So I hope this serve as a lesson for us that if you're a purely technical, data on news will not reflect on the chart, but of course we must be aware of news event since it may cause chaos on the chart and might trigger some of our Stop loss due to spikes.
No comments:
Post a Comment