Tomorrow morning 8:30am.... I have my (paper) strategy I'm testing. Just prior to the news release, I will set a buy order just above, and a sell order just below, one cancels the other. Then, there's a TP currently 20 points away. I have an appointment tomorrow morning so unfortunately I'll be driving when the markets open at 9:30a, but I will guess that whatever way the price moves immediately after the news at 8:30, the market will make a move in the same direction at 9:30.
I am thinking that there will be a 50% retrace of which ever the dominant direction between 8:30 and 9:30 AM ET tomorrow morning turns out to be. Then around 10:30 AM, a steady follow-through of the dominant trend for rest of day. That's how it used to play out in the bull market.
Chop and slop. It all depends on the deviation of the report from expectations. Am basing this on a meeting of expectations. Anything extreme above or below expectations is where it gets nutty.
I need to avoid falling in the trap of "chasing" like I did following the last NFP report. I'll let markets settle down after I (hopefully) win big immediately following.
This is what I expect the 10AM-to-ending of day to look like tomorrow...Just like today, but with greater range... Whether it is an uptrend or downtrend depends on the number, so it could be a mirror image.