2024-12-24 22:43
IndustryExample of a News-Based Trade Setup
Scenario: Trading the U.S. Non-Farm Payroll (NFP) Report
1. Step 1: Check the forecasted NFP data against the previous value.
2. Step 2: Identify key support and resistance levels before the release.
3. Step 3: Place straddle orders 10-15 pips above and below the current price.
4. Step 4: Enter the breakout trade after the news with confirmation of direction.
5. Step 5: Use a tight stop-loss and trail profits to lock in gains.
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Example of a News-Based Trade Setup
Hong Kong | 2024-12-24 22:43Scenario: Trading the U.S. Non-Farm Payroll (NFP) Report
1. Step 1: Check the forecasted NFP data against the previous value.
2. Step 2: Identify key support and resistance levels before the release.
3. Step 3: Place straddle orders 10-15 pips above and below the current price.
4. Step 4: Enter the breakout trade after the news with confirmation of direction.
5. Step 5: Use a tight stop-loss and trail profits to lock in gains.
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