I have closed yesterday's NZD JPY trade for a small profit of +0.6. (to avoid NFP risk).
With an early close today due to independence day tomorrow, it's debatable whether there will be a post NFP opportunity.
I do think there is a case to say a pre event USD short 'anticipation' trade is a viable option. Something like an AUD or EUR USD - buy stop order a few minutes before the release. The reasoning being that the consensus is for a below forecast number, which would compound USD weakness.
The risk being NFP is particularly volatile and any triggered trade could whipsaw as the market digests the numbers.
Personally, it's not a trade I'll be attempting, I'm just saying I think it's a reasonable idea.
Wishing you a lovely weekend, today I'll be designated photographer as Michelle graduates her PGCE.
Weekly Review to follow, please feel free to offer thoughts or questions:
With an early close today due to independence day tomorrow, it's debatable whether there will be a post NFP opportunity.
I do think there is a case to say a pre event USD short 'anticipation' trade is a viable option. Something like an AUD or EUR USD - buy stop order a few minutes before the release. The reasoning being that the consensus is for a below forecast number, which would compound USD weakness.
The risk being NFP is particularly volatile and any triggered trade could whipsaw as the market digests the numbers.
Personally, it's not a trade I'll be attempting, I'm just saying I think it's a reasonable idea.
Wishing you a lovely weekend, today I'll be designated photographer as Michelle graduates her PGCE.
Weekly Review to follow, please feel free to offer thoughts or questions:
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.