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Daily Archives: June 3rd, 2016

I also did a trade on the USDJPY but not a straddle trade, instead, I just took an off chance view that the NFP could come in weaker and placed my bets on the JPY as follows: –

USDJPY: Stop if Offered; 108.53, Spot; 108.83 with SL; 108.80

As it turned out NFP came in very weak and my out of the money trade was triggered.

I squared the EURUSD earlier, and kept the USDJPY trade alittle longer and got out half an hour later at 107.45 for one big figure trading profit of 1.08!!!

Best part about it was I got out of this trade while in a lounge with friends drinking wine.

Here is wishing all a great TGIF – Thank God It’s Friday!

This week has been a sleepy week despite important events like ECB, manufacturing data, ADP and of course, tonight, NFP?!

Since there weren’t any trading opportunities throughout the week, it would stand to reason that the FX markets would be ‘itchy’ to create a movement if a sufficient reason was given.

Today’s NFP to cap off a lacklustre week or is it?

Anyway, we had to be there, so at 8:28pm, I put in my trade as follows: –

EURSUD: Stop if Offered; 1.1125, Spot; 1.1154 and Stop if Bid; 1.1180 with corresponding SLs at 30bps away on both sides of the goal posts.

As it turned out, NFP came out at a shocking 38K versus forecast of 159K, with alittle offsetting by unemployment rate at 4.7% verusus 4.9%

My Bid trade was triggered at 1.1180 and I waited till about 5 minutes later and squared at 1.1260 for a trading profit of 80bps……….not bad!

Thank you NFP!!!

Everyone have a great weekend!

I am out of here and going to take my wife out to meet friends for drinks.