Is there a way to predict nfp direction?
I just look for similar U.S. jobs reports that have some kind of correlation to the NFP jobs report. For example, the ADP jobs report tells us how many new jobs were created in the U.S. non-farm private sector so it could give you a clue as to the direction the NFP report could take.
Although the U.S. ADP jobs report only takes the non-farm private sector into its calculation; you could use it as a guiding light.
You can't predict it with 100% certainty but keeping up with united states economic news and reading newsletters from Bloomberg, Goldman Sacchs etc. can give you an idea of what nfp will look like
No there isnt, for me I just set pending orders in both buy and sell directions so i catch price movement either way.
No there isnt, for me I just set pending orders in both buy and sell directions so i catch price movement either way.
Really? Pls share your experience after you did this?
NFP can’t be predicted. I have never tried predicting it. One thing is sure and I have noticed over time is that NFP moves in the overall direction of the market. This is the more reason you should be able to read the structure of the market carefully. Make sure you understand where liquidity is in the market cos NFP will always take out liquidity before moving in the overall direction.
It is highly dependent on the broker you are using, most low tier brokers will fail to execute the pending order but most tier-1 regulated brokers will always execute it although sometimes it may be executed at an inferior price. So, yea the pending order will get triggered but mind you the spreads are always high on such transactions.