Well, it didn’t touch our planned supply, but almost. It went dive in after the NFP release. What I do here is wait patiently until they digest the news. Normally 3 minutes after. SO What I do is I hitch a ride the move. When exactly is timing. SO GO down to 1 minute chart.
Look area where the post NFP , where actual sellers seen selling. I notice a supply on the 1 min after the release of NFP 3 minutes after.
Eventhough I didn’t catch the 100 pip move But I did manage to get almost a 100 pip for the day. This Post NFP trade was 45 pip . I only risk 1.3 pip for a 45 pip reward! Im sure you can do the math there what my RR .
Earlier Before NFP during Asian , I took an hourly trade which risk 20 pip for a 40 pip trade. WHich of course I did get those trade. Overall today I manage to get a total of 85 pip Reward.
Key things here is, what are you looking at? Are you looking correctly ? Are you sure ? Remember key things about demand and supply.
1. Strong Imbalance
2. Short Period
3. Profit Margin
4. Aware of your location larger time frame
Did I monitor the chart more than 1 Hour ? NO, I only look it at a glance of say 3- 5 minutes only. That’s it, Plan and execute.
How do I know it is going to be bearish ? Because there are least path of resistance going down. Meaning no demand nearby.
DO you need to trade everyday ? NO. You only Trade if opportunity present it self. If you see nothing or couldn’t understand anything on the chart, that is an indication you should rest, forgot about trading for 2 weeks. Just to get your self in tune again and fresh.
Do You have to trade like me ? NO , it is down to your niche. I trade any multi time frame and will still find demand and supply. Find out who you are and why do you trade. What are you good at and what is your personality in Trading.
Have a great weekend!