Australian Employment Change

9:30 PM EDT

AUD Employment Change – Change in the number of employed people for the previous month
AUD/USD

In February this came out at 36.3 and -.2 with a 25 pip spike, very small retracement, and continuation another 10 pips or so. Row 1 came out 3 seconds after the posted time causing the initial spike and row 2 came out 6 seconds after (3 seconds later) causing the additional push. Nice trade. In March it came out at -20.4 and 0 with a 23 pip spike followed by a slow return to breakeven in 6 or 7 minutes. In April we saw 37.5 and -.1 with a 55 pip spike. Very nice trade.
This thing seems to move 20+ pips no matter what the deviation is, but it looks like if we see a deviation in excess of 30 we tend to have a real nice protracted move. Whether you decide to increase your trade size or not, we all must be vigilant for pre-news spikes.

Things to watch

There are 3 elements to this trade……….
1) Employment Change
2) Unemployment Rate (remember a positive figure is BAD, and a negative figure is GOOD)
3) The spilt between Full and Part Time… we don’t care much about the “part time” figures…but we do want to see the full time figures deviate in the same direction.
If the trade triggers and all three deviate in the same direction, then you should be on for a great trade, and you can expect alot of “continuation“.
If however any lines conflict, then “continuation” may be hard to come by, and its best to close your trade on the first sign of any retrace.