Victorial
Active member
Tomorrow is Friday. The first Friday of the month. For all traders, they know that NFP news is coming tomorrow. You heard right. One of the biggest news that can spike the market in seconds. It is considered the crash and boom kind of day. It can turn your $50 account into a $150 account in seconds and you can lose it all also. It is very fast and I am always scared of this day.
Last December, a bearish candle alone covered 90 pips while trading gold when viewed on the one minute chart. I was so surprised as I was beginning to make entry to buy but it dropped 90 pips with just a move. Ever since then, I feared trading on Fridays or at least before the news release.
On Thursday, FOMC minutes was released and it also contributed to the market. EUR pairs has been falling against the dollars. It is not as if the dollar is steady anyway but the major move is yet to come.
Fundamental analysis aided by news as this helps traders to know which way to go; buy or sell. If you are in the right direction when the news come in, you will make more but could lose it was reverse.
Last December, a bearish candle alone covered 90 pips while trading gold when viewed on the one minute chart. I was so surprised as I was beginning to make entry to buy but it dropped 90 pips with just a move. Ever since then, I feared trading on Fridays or at least before the news release.
On Thursday, FOMC minutes was released and it also contributed to the market. EUR pairs has been falling against the dollars. It is not as if the dollar is steady anyway but the major move is yet to come.
Fundamental analysis aided by news as this helps traders to know which way to go; buy or sell. If you are in the right direction when the news come in, you will make more but could lose it was reverse.
