Welcome to a very important live session! In today’s session we did a live example of how to trade news, and what better news release to trade than the Non-farm Payroll Release?
The session started off 30 minutes before the release, where RP went over the game plan for Gold, EURUSD and GBPUSD. He went through each setup briefly, before selecting Gold as the best possible pair to trade for the NFP Release. The simple, news trading strategy was explained thoroughly, as a gift to all of our current & potential clients.
See our blog post on: Fundamental Analysis vs. Technical Analysis
We set our sell and buy stops for Gold, and we awaited for the release of the data. The US Economy added only 135,000 jobs in September, falling short of the forecast of 145,000. This led to Gold activating our buy stop, rocketing 80 pips, and consequently hitting our take profit. Upon that move, we cancelled our sell stop.
This was the best possible way to end off the week. We were able to teach everyone a high-probable low-risk trading strategy for news, while at the same time earning them a profit. Next week will be a lot calmer and thus much easier to trade. I will see you all again on Monday at 11:00 AM EST for our FREE market insight session.
Watch the Live NFP Session Here:
Check out yesterday’s live session recap: October 3rd, 2019 Live Session