Last week was NFP, so we expect a long term trend to kick in. So as per the Strategy, we wait for the daily (Monday) candle to finish forming and on Tuesday open we set stop pending orders at 15 pips from high and low of Monday candle then we let market do it's thing, once triggered we exit position by Friday afternoon.
As for NFP intraday Strategy, at 1530(GMT +2) when news are released, don't place any trades yet, do the following steps.
1. Switch to M5 TIMEFRAME
2. So once it's 1530 we wait for the candle to finish forming
3. At 1535(still on the M5(5 Minutes timeframe) you use the news candle( the one that just previously closed) then u place stop pending orders at the high and low of the news candle at 15pips/150 points distance.
4. Once either of the order gets triggered you delete the one which didn't trigger
5. Exit position before the day ends.
As for NFP intraday Strategy, at 1530(GMT +2) when news are released, don't place any trades yet, do the following steps.
1. Switch to M5 TIMEFRAME
2. So once it's 1530 we wait for the candle to finish forming
3. At 1535(still on the M5(5 Minutes timeframe) you use the news candle( the one that just previously closed) then u place stop pending orders at the high and low of the news candle at 15pips/150 points distance.
4. Once either of the order gets triggered you delete the one which didn't trigger
5. Exit position before the day ends.