Sunday, February 05, 2012

T'was the night before Non-Farm Payroll...

Twas the night before Non-Farm Payroll report,  when  all through forex land there wasn’t a sound,
Not a currency was stirring, not even the GBP.
All the traders were excited, their  anticipation growing,
All  orders consolidated, for this monthly announcement they had been preparing.

Deep in my thoughts, were of  the trades I had done.
Throughout this Non-Farm week, I  was tossed up and down.
I had experienced my account and my knees go weak,
Would I or would I not, on this night, find the profit I seek.
When just before 8:30EST there arose a clatter,
The non farm report came out in its usual might and matter,
A shattering 90,000 more jobs than expected and a 0.2% decrease,
What a resounding loud roar for all to hear and see

And then, suddenly the traders started,
And excitedly I watched as the currencies spiked and shuddered….

The EURUSD sprang up to hit,
A resistance trendline, touching its daily limit.
But quickly in an unexpected show,
It bounced back to break the support below.

So I entered a sell but it was down too low,
It did 10pips but then, raced up to my stop, and away it towed.
I sucked in the loss, and was prepared to stop,
But I noticed the upward move had hit a top.

So I entered another sell, this time at a better price,
I calmly watched its dance to the floor, this time the trade, making nice.
When upon break-even, my trade I quickly did set.
Before I knew it, a profit it did get.
And when it came to a little stall, 
I took my trade out with a profit tiny and small.

I thanked my lucky stars that I came out unscathed, even with a small profit for the night.
For the Non-Farm report had proven its might.
To all the traders that dared brave this night,
I say, "Happy Trading to all, and to all a good-night!"

EURUSD 1H The Trade Setup

EURUSD 1M The Trade In Detail