We will leave our results for the non-farm payroll report using the GBPJPY. Last time we saw some serious gains using the 15 minute breakout support and resistance. Check back soon after the report for the results. You can see last month’s results on this site.
NFP Chart for 04.04.2008
This 15 minute breakout strategy worked really well for us, only giving us a small amount of draw down. The 15 minute period was initially broken 35 minutes after the support and resistance was established. We saw some lite consolidation before it really broke down around 100 pips, leaving us with a nice gain. Tight trailing stops may have gotten knocked out a little early, but overall the trade worked in our favor.
This is two NFP reports in a row that this trade played out nicely on the GBPJPY. We will obviously keep trading this thing next month as well.