Trade forex with strategies after the U.S. Non Farm Payroll report is released

The U.S. Non Farm Payroll or NFP report is collected by the U.S. Bureau of Labor Statistics which consists of details on non agricultural or industrial employment in the United States and used to assist in forecasting the future situations of the US economy domestically. Usually, it made known to the pubic at 8:30 Eastern time on the first Friday of each month. Sometimes it could be announced on the second Friday of the month, instead of the first Friday. 

 Basically, the details contained in the NFP report are figures which denote approximately 80% of workers who play important roles for the gross domestic product of GDP of the United States. 

 Here is a summary of what is contained in the U.S. Non Farm Payroll or NFP report. The statistics published indicate the entire number of workers who get paid in all sectors in the USA, except these details which are government general service, category of private household, some non-profit organizations, and of course agriculture and farm industry. This report also provides information on number of people seeking for employment, the number of people who are in employment, the salary benchmarks for the employees, and the number of hours worked. 

 So, what makes the U.S. Non Farm Payroll or NFP report relevant to the forex trader and how these details can affect the forex market? In order to be successful in forex trading, every trader must have a basic knowledge of fundamental analysis which derives from the economic factors so that forex traders will have better understanding in recognizing and analyzing the candlestick charts patterns. 

 The data on employment in the US Non Farm Payroll shows a strong suggestion of how well the U.S. economy is. In addition, the report may also give some ideas as to where the forex traders could trade their money in. 

 The other vital aspect from the U.S. Non Farm Payroll or NFP report is the numbers on salaries or wages trend which traders will be able to obtain some ideas of inflation. All signs on inflation whether it is rising or declining are supervised carefully by the Federal Reserve which resulting in the money markets to respond to it in a significant means. 

 The response towards the US Non Farm Payroll report by traders from all around the world, especially in the form of currency purchase and sell transaction will obviously affect the currency price of the dollar to rise or drop. This forex market trend usually happens during moment when the report is being announced. From time to time the up ward movement happens a few minutes prior to the announcement which is at 8.30 am, and sometimes the up ward movement could be seen 15 or 20 minutes after the report being made public. 

 While making forex trading decision by following the US Non Farm Payroll report may sound interesting, however, it does has some main draw backs for forex traders and here are two of the main draw backs: 

 The first draw back is that the huge price fluctuations can affect your trade where your stop loss point will be quickly being triggered. 

 The second draw back is that when you trade within the announcement of the US Non Farm Payroll report, your broker can not guarantee your trade positions since the market is fluctuate heavily. 

 Finally, traders may not be trading accordingly to what they are expecting when they can not get the profit like they think they could be getting and their open position trades may be forced to stop when they feel they should not. 

 Usually, the good opportunity for trading is shortly upon the announcement of the U.S. Non Farm Payroll or NFP report which can take between 30 to 60 minutes since you begin to see clearly what is happening in the market and things seem to be more sense. 

 You should take a close look at the combination of a few forex trading technical indicators, monitor, and analyze them. 

 You can look at the candlestick chart patterns and observe a hammer with a very huge shadow which also located on the main support or resistance levels. When you see them, then you can get in a trade without risking too much when you place your stop just over the top or bottom of the candlestick chart alert. 

 Upon the announcement of the U.S. Non Farm Payroll report and you implement a series of technical indicators to your forex trading platform, then you are able to observe a point where a former support or resistance level meets with the Fibonacci retracement or extension, or the 200 Exponential Moving Average or EMA or even a pivot point. 

 Then, if an individual candle happens at this level, you also can