Wednesday, June 26, 2013

Best Forex Scalping Strategy

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Nonfarm Payrolls measures the change in the number of people employed during the previous month, excluding the farming industry. Job creation is the foremost indicator of consumer spending, which accounts for the majority of economic activity.

A higher than expected reading should be taken as positive/bullish for the USD, while a lower than expected reading should be taken as negative/bearish for the USD.
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The Unemployment Rate measures the percentage of the total work force that is unemployed and actively seeking employment during the previous month.

A higher than expected reading should be taken as negative/bearish for the USD, while a lower than expected reading should be taken as positive/bullish for the USD.

gmt time to pst
gmt time to pst
gmt time to pst

Currency Strength Meter Indicator


Bullish Data

Bearish Data

Higher GDP

Lower GDP

Higher Inflation

Lower Inflation

Higher Employment

Lower Employment

Lower Unemployment

Higher Unemployment

Higher Consumer Confidence

Lower Consumer Confidence

Higher PMI

Lower PMI


When to enter the trade?

Pin Bar is highlighted by the elongated wick that ‘sticks out’ from price action. The picture below will show a pin bar in greater detail:

The_Forex_Traders_Guide_to_Price_Action_body_Picture_2.png, The Forex Trader's Guide to Price Action