Podcast:
In this video:
01:02 US Non-Farm Payrolls worse than anticipated
03:02 GBP and Kiwi Dollar overall the big movers of the week
05:52 FPA user made 6.7% on one day using free suggestions
Well we’ve had good trades, fantastic results, big movements on the charts and last week’s Non-Farm Payroll's – I was bang on.
Let me share more information with you right now.
Hi it’s Andrew Mitchem here welcome along. I’m from the Forex Trading Coach.Today is Friday the 14th of February and it’s a Valentine’s Day so hope you’re having a fantastic day with your love ones.
I want to talk about some really good trades that have occurred this week.
But before I must jump into that I must tell you about last week’s Non-Farm Payrolls.
How I predicted last week's US jobs data would be worse than anticipated
I make these videos on Friday morning my time and so when I was making last week’s video and podcast that was sixteen hours before the release of the non-farm payroll's which is Friday morning US time. That’s the early hours of the morning New Zealand time on Saturday.
So that was a long time before the announcement when I made a prediction on the last week’s video to say according to what I could see on the charts as a technical trader it looked to me like the US non-farm payrolls would be worse than anticipated and that’s exactly how they came out.
In fact the result was 40% worst than anticipated.
The anticipated result was around 185,000 new jobs created for the month. The actual result came in at 113,000 jobs, so a huge difference there, a 40% reduction from the actual to what was anticipated.
But the great thing is as a technical trader is that we could see the likely result of that news announcement and more importantly the likely direction some sixteen hours prior to that announcement coming out. It was almost like staring at us – glaringly obvious on the charts that was the likely outcome.
I just wanted to let you know that you don’t have to wait around for those news announcements, the big spreads and things like that because the charts were telling us well and advance what the likely result was going to be and the likely direction and of course it worked really well.
GBP, USD and NZD are the big movers for the week
So onto the charts themselves this week – we have seen that USD continue to fall following on from that non-farm payroll announcements that poor results for the US jobs and we’ve seen being the GBP very strong this week.
We’ve also seen the Kiwi Dollar and also the CAD to lesser extent but also those showing strength.
Gold and silver have continued to climb all week.
The EUR is the interesting one this week. On Tuesday and Wednesday we had a big reduction – there was a bit of a clue on Tuesday with the Pinbar showing on the daily charts the price then fell on Wednesday and then on Thursday it was completely reversed and it’s pushing back up again looking to continue from what I can see right now.
Today being Friday I’m looking for Buy opportunities on the EUR/USD and Sell opportunities on the US/Swiss Franc.
Right now as I’m looking at the charts that to me seems the likely direction but the GBP and Kiwi Dollar overall definitely been the big movers of the week – pretty much straight up day after day.
+3.5% Gain for the Week
As a result to that we’ve had a really good week on my own personal trades. I’m up over 3.5% right now for the week and that’s trading with only 0.5% risk on any trade.
