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.