Our last trade call was the US ISM Manufacturing which hit our triggers however because of a delayed move most of us got out at break even or with a few pips profit. I am a very conservative trader and I would prefer to take a small profit or even a small loss if I am uncertain about a particular trade.
There were many who held out and made really good money However I personally closed down at break even. To see the Video of this trade and the transcripts click the following link:
OUR NEXT LIVE ON THE NEWS TRADE CALL
Tomorrow we have the US Non Farm which has been known to move the market over 280 pips in a matter of a few seconds. This is a very volatile release and revisions can cause violent market swings so we will trade this with extreme caution.
The NFP is expected to be 100k new jobs which is a decrease from last months 180k new jobs. If the number of jobs deviates by 50k or more this will be a pretty good trade providing we don’t get a conflicting revision..
If the actual number comes out higher than expected by 50k I will go short on the GBP/USD and if the number comes out lower than expected by 50k I will go long on the GBP/USD. I will initially look for around 50 or 60 pips with the understanding that it could go 100 plus.
If there is a revision of over 17k and it conflicts with my trade I will close immediately unless the actual deviates by a very large number like 70 or 80k. If it is off by that much I will simply watch the market reaction and only close if the move becomes exhausted.
This data will be released at 8:30am eastern.
Good Luck!!!!
