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Saturday, October 09, 2021

What Is The Best Strategy For NFP

What Is The Best Strategy For NFP

Basic forex trading tips

October 8/2021

What Is The Best Strategy For Trading The NFP?

Applying the pullback strategy can be the most profitable means of trading the NFP. When compared with a breakout strategy it's noted that the tendencies of having a profitable entry when taking a position using the pullback strategy will result in a 100X profit in comparison with the breakout strategy.

The reason why the pullback strategy works best for most traders who trade currency after the NFP data release is that they tend to wait for the entire major currencies pair market to absorb the overall NFP data during the period when it's released. Experienced traders will most likely wait for a build-up to appear in the candlestick chart before taking a position. These candlestick build-ups are what will make the market participants determine whether to go long or short.

For example, after the NFP data has been released following a series of volatility in price, if the candlestick went bullish as a result of positive NFP data release the candlestick build-up that appear after the NFP candle will likely obey the direction of the first candlestick that appeared when the NFP data was released. However, it will always appear in the form of a short term retracement in price. With this strategy, traders can avoid taking a position too early and it'll also help to decrease the odds of being whipped out of the trade before a confirming direction.

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