NFP Starts Slow But Ends Big - dingo.forex

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Friday, December 08, 2006

NFP Starts Slow But Ends Big

A fairly mediocre NFP report today. My fundamentals trigger was not high enough to hit for a short, and my technicals told me I was only looking for a long. Predicted number was 100k and I was hoping for a 50k deviation from that on my short EUR/USD trigger. At only 132k it was not enough for me to take a confident short trade and as you can see by the price action today it wasn't enough to push the market for very long. Price spiked down to support levels and bounced back up. It has since recovered to the NY session open price. And damned if I wasn't just typing this and caught my reversal trade. My technical trigger was waiting for my reversal breakout and I got it. Just closed in profit for +21. Normally my NFP days hit over 70 pips, but I'll take what I can get during the holiday season. It looks as if it may push higher yet, so I'll be watching it for a re-entry signal. I'll update if I take any more out of the market. Thats all for now.
UPDATE: Caught a re-entry when it broke the previous high and rode it up to the 6/8 line for an additional +6 pips. Probably done for the day now. Hope everyone made some good pips and have a great weekend!
UPDATE: Wow! Glad I stuck around. Hope you guys caught that move south! I got in extremely late but still caught 22 pips on it. What a crazy day this has turned out to be. Our initial NFP move was only like 40 pips and then quickly reversed. Now we've seen a massive move north and south. The Euro bounced on our weekly pivot so I would think our move is at an end, but with the way things have been going today who knows!

  • LONG EUR/USD for +21
  • LONG EUR/USD for +6
  • SHORT EUR/USD for +22

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