NFP News Trading Strategy Cory Mitchell Version

The NFP News Trading strategy by Cory Mitchell is renowned for its high accuracy, particularly during periods of heightened market volatility. Here's a brief guide on how to implement this strategy:

Setup for NFP News Trading Strategy:

Before getting started, it's crucial to understand the basic setup for this strategy:

• • This strategy is specifically designed for the 15-minute (M15) chart on the GBP/USD pair.
• • The M15 chart makes it easier to observe market volatility changes following the initial surge from NFP data.
• • The GBP/USD pair is chosen due to its large daily range, enhancing profit opportunities.
• • The Inside Bar candlestick pattern is used to indicate when the market begins to calm down and move rationally after the surge.

6 Rules for NFP News Trading Strategy:

Here are the rules to follow:

1. Wait for 15 minutes after the NFP announcement before initiating trading.
2. Wait until the Inside Bar candlestick pattern appears as a sign of the market calming down.
3. Use the upper and lower wicks of the Inside Bar as triggers for entry: a breakout above means buy, and a breakout below means sell.
4. Set a maximum stop loss of 30 pips from the Inside Bar candlestick's wick used.
5. Exit the market after 4 hours from opening a position or at 01:00 AM GMT, as price trend movements usually last only about 4 hours after the NFP announcement.
6. Maximum of two position openings during one NFP event.

Key Points in Implementing the NFP News Trading Strategy:

• • Although this strategy boasts a high accuracy rate, losses can still occur.
• • However, overall, the profits obtained are usually larger compared to losses.
• • Ensure to only execute this strategy if there's a significant price movement following the NFP announcement.
• • This strategy can also be applied to other news events, provided there is sufficient price movement.
• • Do not open trading positions before the NFP announcement based solely on speculation; wait for valid trading signals such as the Inside Bar pattern.

By following the rules and guidelines above, you can confidently try implementing Cory Mitchell's NFP News Trading strategy. Always remember to manage risks and only open trading positions when valid signals have emerged.

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