What will happen after none farm payroll released?

 

One of very important monthly news is none farm payroll this economic indicator will effect on all currencies like EURUSD GBPUSD GOLD OIL STOCK market even on none related currencies like EURCHF or GBPJPY.

Just look at the bellow example picture after none farm payroll:

 

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You can see same action on different symbol for example after none farm payroll EURUSD and GOLD had same actions.

When we compare symbols actions we will understand some important factor to enter the market or send a good forex signal.

In the next picture I want to compare 6 symbols movement after none farm payroll:

fx_5

 

We can see after about one Hour GOLD correlation changed

 

On EURUSD GBPUSD and AUDUSD we can see good correlation and also we can see reverse correlation with USDJPY and USDCHF now we should ask how we can use this information to open a good position or send a good forex signal or how we can forecast forex market now?

One of my favorite strategy is wait about 5 minutes to see the market up and down target ten I will send stop order on my symbol EURUSD is a good symbol to do this now look at the top and bottom price after 10 minutes on EURUSD:

fx_6

The price 1.1244 is good price for buy stop order and the price 1.1176 is a good price to send sell stop order on EURUSD

To be sure about the market action we should compare the market action with other symbols I recommend compare it with GBPUSD and USDJPY or USDCHF on other symbols we should have top and bottom prices it will show us our decision is correct or not:

fx_7

As you can see we have top and bottom price on both GBPUSD and USDJPY if we compare the market with other symbol like AUDUSD in our example we can predict that the bottom line will break because AUDUSD did not go up so GBPUSD bottom line has broken 4 minutes sooner than EURUSD bottom line it will help us to understand market direction we can delete our stop order and open sell signal too.

I wish you understand this useful strategy to earn good profit in your forex trading.

Have a good forex signal.

 

Author:M.Jamshidi

www.PipSafe.com

 

 

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Reply Jon Says
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great thanks pipsafe



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