Good topic. May I ask, does that mean you don't suggest any open position during key data announcement like NFP? I agree for short swing trades that suppose to last few days are better off with position closed than off. But what about short-medium term open position that suppose to sit for one or two months? Should we close it and re-enter after announcement? What is the rationale here...? Much appreciated. Am learning PA, Harmonic, Elliot.
NFP has the ability to spark trends that last 1-2-3 months long so we always suggest if you are a scalper or a short-term day trader to avoid trading around the announcement because it is so unpredictable. However if you are holding a longer term swing trade with an appropriate stop loss and position size where your risk isn't detrimental then you would probably be okay to hold it through the announcement.