RISING CHANNEL DETETECTED - USD/JPY -15MIN TF
I HAVE PLACED MY TRADE , HAVE YOU ????
SOME IMPORTANT NEWS RELEASES TODAY:
Nonfarm Payrolls and Unemployment Rate
Forecast: 170K, 7.2% Previous: 204K, 7.3%
Nonfarm payroll growth surprised to the upside in October despite the fact that the government shutdown weighed on consensus expectations for the employment situation. Upward revisions to the prior few months were also significant and paint a brighter picture for job growth than what was previously known. However, this year we have yet to see above 200K monthly payrolls for more than two consecutive months, so it is unlikely that we will see another such figure in November. Various employment indicators suggest that job opportunities are slowly improving but hiring remains subdued compared to pre-recession levels, while long-term unemployment remains elevated. The unemployment rate ticked up again in October despite the fact that employment growth accelerated and labor force participation declined. For November, we expect the unemployment rate to drop back to 7.2% as we continue to see discouraged employees leave the workforce.
Personal Income and Outlays
Forecast: 0.2%, 0.2% Previous: 0.5%, 0.2%
Personal income growth has been surprisingly strong throughout the past few months, although consumption has not followed suit. Despite the fact that the consumer deleveraging process is mostly over, spending habits remain conservative and personal savings high. Similarly, with labor market conditions still relatively weak, income growth prospects are low. Consumption in the third quarter finished about on par with 2Q13, and the expectations for 4Q13 are not much different. For October, we expect to see a slowdown in monthly growth for both income and outlays, particularly since consumer confidence has declined heading into the holiday shopping season.
ABOUT MY TRADING ACTIVITY
1) SELL 0.100M USD/JPY @ 102.037.- By mistake I created an order with a wrong quantity so I ended it with -6 pips and opened a new trade with higher quantity. CLOSED : - 6 PIPS
2) SELL 5.000M USD/JPY @ 102.112 - I placed an order on the basis of trading pattern,a channel. OPEN : - 1 PIPS