As you already know, the Non-farm Payrolls report is released tomorrow, it is the most important fundamental announcement, at least is the one that has the most impact in the market (or used to have the most impact). But I have noticed in the last months (even years) that the market doesn’t react to this announcement as it used to react. In these last months, the market spikes up, then down and at the end, it ends up where it was before the announcement…
So this is my plan for my trades:
I have two longs here: 115.91 and 116.96 (currently at +160 and +55 pips respectively). Both of my SL orders are at 116.54.
If it breaks the 117.89 level up, I will hold my trades during the NFP announcement and will move my SL to 116.85 on both trades. If it doesn’t break the 117.89 level up I will close my trades before the announcement.
I have a short at 1.5616 (currently at +110 pips), and my SL order is at 1.5662
If it breaks the 1.5478 level down, I will hold my trade during the NFP announcement and will move my SL to 1.5586. If it doesn’t break it, I’ll close my trade.
We need to take in consideration that the NFP always has the potential to have a large impact in the Forex market, especially if the released number differs a lot from the expected one. We’ll see what happens.
Trade Safe and good luck with your trades.
What do you do? Do you keep your trades open during the NFP announcement?