EURUSD trade on NFP
this is an update version of my previous idea,
the idea is the same, it's an ascending triangle before the breakout
what is missing in the previous idea is the last higher high of wave (D)
if it happens in NFP hour, it may traps us into a false breakout
I suggest, we only take buy position on pullback and not in the price breakout
there are 3 scenario i can think of right now:
1. if the price is moving up and reach the resistant trendline in the asian and europe session before the news, don't trade, just wait for the pullback and take long position
2. if the price moving down and reach the support in asian and europe session, we can take a buy set up, target would be the resistant trendline
3. if the price complete the pattern (move up (wave D), and then move down (wave E)), long before the NFP, we can take buy position and hold the position while the NFP hour
write your thought about this strategy in the comment box
Good luck on your NFP trade!
Go bless
the idea is the same, it's an ascending triangle before the breakout
what is missing in the previous idea is the last higher high of wave (D)
if it happens in NFP hour, it may traps us into a false breakout
I suggest, we only take buy position on pullback and not in the price breakout
there are 3 scenario i can think of right now:
1. if the price is moving up and reach the resistant trendline in the asian and europe session before the news, don't trade, just wait for the pullback and take long position
2. if the price moving down and reach the support in asian and europe session, we can take a buy set up, target would be the resistant trendline
3. if the price complete the pattern (move up (wave D), and then move down (wave E)), long before the NFP, we can take buy position and hold the position while the NFP hour
write your thought about this strategy in the comment box
Good luck on your NFP trade!
Go bless
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