My views on future trades, past trades, the market and lessons learnt

Saturday, November 04, 2006

Friday NFP

Ok so last month we had that bad number of 51k (exp 125) and the previous got revised (125 to 188). And this sent it down.

This week the trend was up but we had hit major top and resistance so we were wondering woudl we get a test to come down or hit the top and break through.

NFP 92k v 125k BUT revised 148k vs 51k as soon as i saw that i knew we were going to go down.

NY - gbp the candle was huge 120 pips that was the first warning, but took it got 7 and then it went up over the next 1 hr to -20 then we got ISM got a spike down to retest lows and it held and bounced back got (10) but I didnt close and got out later with 1 pip, and then it just stood in that 20 pip range chf same thing at ISM same with the chf it stop at the highs it did look it was going to break out further so that's fine stop to BE and get out.

Lesson: Be careful with a big candle, and against the trend, use 5min entry, and conflicting against the revision

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