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[majorman4u2002]

Good day everyone, i will like to know more about how the NFP (Non farm payroll or US Non farm Unemployment rate) affects the forex market. As a Swing or a position trader, is it adviseable to enter/leave a position open if there is a BUY/SELL signals fews days or few hours before the news or other major news are released. I know Ichimoku is meant for trend traders only. What are your views on this topic? Especially now that another NFP news is about to come. Thanks everyone. Please, make comments.

[majorman4u2002]

I am surprised that no comment has been made about this topic. I would like everyone to contribute so that we can all learn from it.  Thank you

[paulbooma]

I find that the days leading into nfp are active. The equity mkts are factoring in the expected figure and forex reflects that.
During the announcement a spike goes through all pairs, generally to hit stops before the real direction begins.

If the number was expected the forex goes back to what it was doing. If the number was unexpected then equity mkts respond
and forex will respond to that response.

In short forex will act like a drunken monkey. Trade the charts on small t/f's or move your swing trade S/L out of harms way.

To conclude either trade the minute or stay away. Same can be said for all major announcements.

[sunman4008]

Hello,

A lot of the major reports affect the charts on the lower timeframes drastically.    for the higher timeframes, the charts normally stay intact.   I don't look at any fundamentals at all for my trading.  I let the charts to the "walking".    I believe the charts have expectations built into them.   When I am wrong, the stops are there to take me out of the trade with min. loss.

-Manesh