#tip_of_the_day
🖊 Tip of the day
Nonfarm Payrolls (NFP) is a monthly indicator of the US labor market popular among traders.
Strategy of trading:
Approximately 10 - 15 minutes before the news releases, Pending Buy and Sell orders are set between 25 and 50 points from their current price.
▪️If the data turned out to be higher than the forecast, hold a sell order.
▪️If it is lower, hold a buy order.
This system applies to EURUSD. If the dollar comes first in a pair, then the opposite is true: at high rates, sell, at low rates, buy.
Much depends on how big the difference is:
🔹If the difference between the actual and the predicted value is less than 10,000, the orders are deleted
🔹If the difference is more than 10,000, but less than 100,000, do not set lofty goals and continue to monitor the situation
🔹If the difference is more than 100,000, then you can gain 200 to 500 points.
📍Use support and resistance levels to help you set your goals. Also, do not forget to set Stop Loss and Take Profit! #OPINIONLEADER#
Everydayprofits
