Forex Trading Signal 11/25/08

Forex Trading Signal 11/25/08 - Today, 08:12 AM
Hi there my forex friend

Let's first review what happened on Monday.

German IFO came out much lower than expected but EUR/USD moved down by about 15 pips and then it moved the other way. EUR/USD was on buy mode, and German IFO could not change it. Well, the funny part of story is that I traded it with the SNW so I was selling EUR/USD and.... I made money. Well, the reason why I made money is because I have a pretty good experience and I saw EUR/USD acting strangely on -2.9 deviation so I decided to exit IMMEDIATELY.

Let's talk about Tuesday.

1a. Tuesday, November 25th, 2008 (8:30 a.m. New York Time) USA
At 8:30 a.m. we will have U.S. GDP Annualized and Canadian Retail Sales. Last time we had U.S. GDP annualized (in August), on +0.6 deviation we had only 30 pips move on USD/JPY and eventually it retraced. Well, I think we can give a try with a buy signal on EUR/JPY or USD/JPY if it comes out at 0.0% or higher and expect 30 pips move. If it comes out at -1.0% or lower, USD/JPY may move down a little but bad news are not necessarily bad for the USD anymore so I will not be trading negative deviation at all. If anything, I want to trade only a good news with very conservative money management and very small profit target (say, around 15 pips or so).

1b. Tuesday, November 25th, 2008 (8:30 a.m. New York Time) CANADA
At 8:30 a.m. we will also have Canadian Retail Sales. I will not be trading it at all for a few reasons. The most important is we will have U.S. report at the same time. Also, we did not see decent deviations in past months so it is hard to predict how would it react. I do not want to test it on my account. I prefer not to trade than gamble. I do not gamble.

2. Tuesday, November 25th, 2008 (10:00 a.m. New York Time) USA
At 10:00 a.m. we will have U.S. Consumer Confidence. Last month it worked OK but it did not spike instantly so I don't really like trading stuff like that. Also, the deviation was huge and it took USD/JPY 5 minutes to move 45 pips. Sir Pips likes it, I am not really convinced to trade so I am going to write what he says but I will not be trading it myself. The range of expectations is between 30 to 45. If it comes out at 32 or lower, you might sell EUR/JPY or GBP/JPY. If it comes out at 44 or higher, you may buy EUR/JPY or GBP/JPY. It might work but this is not how I trade.

That's all for Tuesday.

To Our Success!

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Forex Trading Signal 11/14/08

Forex Trading Signal 11/14/08 - Today, 06:45 AM
Hi there my Forex friend

Let's talk about Friday.

At 8:30 a.m. we will have U.S. Retail Sales X Autos (Core). It is expected to come out at -1.2%. This is not as hot report as it used to be but we might see 30 pips spike on USD/JPY if it deviates by 0.5. Therefore, if it comes out at -1.7% or more negative, I would sell USD/JPY and expect 30 pips move; if it comes out at -0.7% or less negative, I would buy USD/JPY and expect 30 pips move as well. Do not trade it on other pairs than USD/JPY because currently it is tradable on USD/JPY only. I do not recommend trading against it because last month it would work whereas two months ago it did not work at all. That basically means that it can either move even more or retrace and go the other way. Probably right before the report we would have much clearer situation based on technicals what to do; I cannot tell you that now.

Then at 9:55 a.m. we will have Consumer Sentiment. I am not going to trade this report. If anything, maybe a huge positive surprise would move USD/JPY, something like +10 deviation, but even that can be very risky. I am making enough money with more reliable reports so I am going to skip this one.

That would be all for Friday.

To Our Success!

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Forex Trading Signal 11/12/08

Forex Trading Signal 11/12/08 - Today, 06:30 AM
Hi there my forex friend

Let's first review what happened on Tuesday.

At 5:00 a.m. we had German ZEW. It did not hit our trigger so it was a no trade for spike trading. However, trading against the number worked pretty well. If you followed that advice, you probably made around 15 pips or so.

Let's talk about Wednesday.

1. Wednesday, October 12th, 2008 (4:30 a.m. New York Time) UK
At 4:30 a.m. we will have UK Claimant Count Change. It is expected to come out at 40K. It is not tradable with the SNW, in my opinion. Because of BOE Inflation report coming out an hour later, I would skip this report at all.

2. Wednesday, October 12th, 2008 (5:30 a.m. New York Time) UK
At 5:30 a.m. we will have BOE Inflation report. This is not for beginners, and if you want to trade it, please watch the video for more detailed information.

3. Wednesday, October 12th, 2008 (4:45 p.m. New York Time) NEW ZEALAND
At 4:45 a.m. we will have Retail Sales headline coming out of New Zealand. It is expected to come out at 0.4. If it comes out at 1.0% or better and the other numbers are not conflicting, I would buy NZD/USD and expect 30 pips move. On the other, if it comes out at -0.2% or more negative and the other numbers are not conflicting, I would sell NZD/USD and expect 30 pips move as well. Be very careful because spreads tend to be very high for NZ reports.

That's all for Wednesday.

To Our Success!

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