EUR/JPY NFP Week Trading IDEA
In this example we have listed our weekly levels we are using to trade our profitable system. Keep in mind this is not a system we created on our own this is a well known strategy mixed with hours of research and trail and error.
This is how we are going to go about taking this trade. We are going to use caution as for those who don't know NFP week is a very volatile week for trading forex! anything can happen at any moment cause the markets are controlled from fear and greed due to news releases.
To avoid that we have found a solid trade set up entry going either way with the pair EUR/JPY as there is no major news for the two tomorrow.
Step 1. Set alarm for 8 Am London time and what you are going to do is watch and see where price is from the Central point.
Think of Central Point as home base you need to start home before you can go anywhere in life. you conquer your aspects of your living space at a early age and the as you mature you go out and apply these base principals in the real world.
To get central point you first need to find where price has closed from New York Session the day before. once you find it or if you already marked it at 5Pm when markets closed. mark it on your chart as Central point.
Step 2. Find key levels of resistance and support using your higher time frames so you can get an accurate place to buy and sell from.
Step 3. Watch the markets don't place any trades till London Session 3:15. You have to master the art of not trading and being patient for your right set up. the market makers will make you feel like you are missing out on good trades... when in fact they aren't trading at all. just watching lower level traders move the market from fear or greed waiting to take your hard earned money.
Step 4.You place a sell trade id London Session you see that price is below central point and place a buy if it is above unless at key support or resistance levels. if not anticipate a reversal from candle stick patterns. reversals take about 3-5 15 minute candles meaning on the 15 minute chart price should be observed. break outs form best after fake outs.. that's why you wait 3-5 candles.
Step 5. Place a well thought out trade and get you some rest. use proper lots and make sure you are in the right state of mind to be successful as a trader. any strategy can work the key is timing and the mindset. the market only prints data and information the market does not care if you are on your last 5000$ that means you have to trade with a purpose and take responsibilities of your actions. good luck if anyone out there try's this strategy and it works for them please right in the comments!!!
This is how we are going to go about taking this trade. We are going to use caution as for those who don't know NFP week is a very volatile week for trading forex! anything can happen at any moment cause the markets are controlled from fear and greed due to news releases.
To avoid that we have found a solid trade set up entry going either way with the pair EUR/JPY as there is no major news for the two tomorrow.
Step 1. Set alarm for 8 Am London time and what you are going to do is watch and see where price is from the Central point.
Think of Central Point as home base you need to start home before you can go anywhere in life. you conquer your aspects of your living space at a early age and the as you mature you go out and apply these base principals in the real world.
To get central point you first need to find where price has closed from New York Session the day before. once you find it or if you already marked it at 5Pm when markets closed. mark it on your chart as Central point.
Step 2. Find key levels of resistance and support using your higher time frames so you can get an accurate place to buy and sell from.
Step 3. Watch the markets don't place any trades till London Session 3:15. You have to master the art of not trading and being patient for your right set up. the market makers will make you feel like you are missing out on good trades... when in fact they aren't trading at all. just watching lower level traders move the market from fear or greed waiting to take your hard earned money.
Step 4.You place a sell trade id London Session you see that price is below central point and place a buy if it is above unless at key support or resistance levels. if not anticipate a reversal from candle stick patterns. reversals take about 3-5 15 minute candles meaning on the 15 minute chart price should be observed. break outs form best after fake outs.. that's why you wait 3-5 candles.
Step 5. Place a well thought out trade and get you some rest. use proper lots and make sure you are in the right state of mind to be successful as a trader. any strategy can work the key is timing and the mindset. the market only prints data and information the market does not care if you are on your last 5000$ that means you have to trade with a purpose and take responsibilities of your actions. good luck if anyone out there try's this strategy and it works for them please right in the comments!!!
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