Saturday, June 8, 2013

Did you trade Friday job data

I wrote on how you could trade Friday job data from both US and Canada yesterday. This time Forex news trading strategy would have worked perfectly. When these events come you can choose pairs which you expect to have the highest volatility. Canadian dollar was especially good choice for your trade. You could take the most volatile pairs in the loonie: gbp/cad and eur/cad and trade the news with them. Pound pair was even better than Euro.

Euro Canadian dollar pair crashed around 90 pips after the event and Pound Canadian dollar more than one hundred. Good reason to like Pound pairs and crosses. Look at 15, 5 and 1 minute charts of both pairs and you can clearly see how you could sell them and make nice profit. gbp/cad pair had to be sold around 1.5920 level and eur/cad at 1.3555. Almost all collapse happened in a few minutes. Fast profits! Master news trading system and you can capture a  lot more of these kind of trades.