#tip_of_the_day
Tip of the day
Nonfarm Payrolls (NFP) is a monthly indicator of the US labor market popular among traders.
Strategy of trading:
Approximately 10 - 15 minutes before the news releases, Pending Buy and Sell orders are set between 25 and 50 points from their current price.
If the data turned out to be higher than the forecast, hold a sell order.
If it is lower, hold a buy order.
This system applies to EURUSD. If the dollar comes first in a pair, then the opposite is true: at high rates, sell, at low rates, buy.
Much depends on how big the difference is:
If the difference between the actual and the predicted value is less than 10,000, the orders are deleted
If the difference is more than 10,000, but less than 100,000, do not set lofty goals and continue to monitor the situation
If the difference is more than 100,000, then you can gain 200 to 500 points.
Use support and resistance levels to help you set your goals. Also, do not forget to set Stop Loss and Take Profit!
