Good day All. Early of the Month tradition, NFP release. All expected a strong data, with continuing bearish for EURUSD and Bullish on the USD DOllar. Plenty room to go for the down side. See if anyone can spot any supply before the NFP release. Because I spot one on the 15 min. It may not show on the Hourly but it is obvious that during LOndon Open, and Asia, they were selling it. I took the H1 supply this morning during Asia and it close out during London Open. Now news trading with spotting where to place your order requires accuracy becasue during NFP, spread widens!! Yes it widens, even if you are correct, you will be stopped out! SO becarefull. Either market order it when it approaches during news release ( if you are fast enough ) or set a pending limit order with buffer room for the STOPLOSS.
THe supply is really nice on a round number. 1.10100. I am looking at it during NFP release. BUt I may have no time to see it since I will be driving back home. SO I Put a pending order.
1.10100 sell limit
Risking 25 pip for a 200 pip
Balllzyyyyyyy. money management is important here. If you want to try it, use very very very small amount to avoid excessive loss due to news. Lets see and what we will get the result later on!