Forex Strategy for Day Trading the Non-Farm Payrolls 🔥
Forex Strategy for Day Trading the Non-Farm Payrolls using Fibonacci Retracements PLEASE LIKE AND SHARE THIS VIDEO SO WE CAN DO MORE Noisy non-farm payrolls strategy. This strategy uses Fibonacci Retracements.
Tips on how to trade the Non-Farm Payrolls. This trading strategy can be used during Non-farm payrolls or interest rate announcements or anything like economic indicators that come out and are likely to move a currency pair or index. These are the kind of things that can shift markets dramatically; a surprise announcement can get a 200 or even 300 pips move in a forex pair and/or massive moves in the DOW/DAX/S&P500..etc However, very often you get people pulling liquidity from the market which leads to zig-zag moves and the idea is to exploit these to our advantage. The stops on this strategy are clearly laid out and this strategy will somewhat protect you against the possibility of entering a trade and sustaining a big adverse move in the underlying market. Let’s look at the rules. We are using a Fibonacci retracement; we want to see a move in one direction and we want to get on a reversal of some point and trade the backend of the move. As we get an impulse in one direction we draw our fibonacci retracement and we put a high or low. As the price comes back above the 50 we look to go long as it crosses the 0.618. This is a very simple structured strategy but of course be careful when trading around the news as it can be very volatile.