NON-FARM PAYROLL

BitInteractive Broker - Trading Non-Farm Payroll (NFP)

Non-farm payrolls, released monthly, stand as one of forex's most anticipated economic reports. Published by the U.S. Bureau of Labor Statistics, it offers insights into employment changes and includes metrics like the NFP (non-farm payroll change) and unemployment rate.

Integrated Binary Options Services Approach:

Focus on Currency Pairs:

We specialize in currency pairs, especially those involving the U.S. Dollar, leveraging significant price movements after the data release.

Step-by-Step NFP Trading Strategy:

1. Pre-NFP Preparation: - Close all prior day trading positions at least ten minutes before 8:30 AM ET.
2. Initial Move Observation: - After the 8:30 AM ET release, observe the initial price rise or fall, usually 30 pips or more, determining the trade direction (long or short).
3. Trade Setup: - Wait for a 5-price-bar pullback following the initial move.
4. Trendline Placement: - Draw a trendline across the highs (if the initial move was up) or lows (if down) during the pullback.
5. Trade Entry: - If the bid price breaks above the trendline (for up move) or below (for down move), enter a trade.
6. Stop Loss Placement: - For long trade, place a stop loss one pip below the recent low before entry. For short trade, place a stop loss one pip above the recent high before entry.
7. Alternative Entry Method: - If the price pulls back more than 50% of the initial move and consolidates for at least two bars, enter a trade based on the breakout above or below the consolidation.
8. Stop Loss for Alternative Entry: - For long trade, place a stop loss one pip below the consolidation low. For short trade, place a stop loss one pip above the consolidation high.