It was a roller-coaster ride with NFP today. My focus was on GBPUSD as the news came out. The pair moved up as it should but reversed after 5min and went back to the price before the news. This looked to me like it was going down so I decided to fade the news as soon as it reached the high the news created.
This didn't happen because the pair just went through that high and kept going. Took me a while to realise my plan was failing so by the time I got out of the short position, I was 28pips down. I immediately took a long position hoping to recover the loss but was stopped out with +19pips.
This didn't happen because the pair just went through that high and kept going. Took me a while to realise my plan was failing so by the time I got out of the short position, I was 28pips down. I immediately took a long position hoping to recover the loss but was stopped out with +19pips.