Forex Trading Signals Summary - Friday, February 24 2017

Peter O

Special Consultant to the FPA
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What is news trading? How does forex news trading work?

Forex News Trading can be extremely profitable if you have an understanding of fundamental analysis and have access to low latency forex trading software. Sounds too complex or expensive? Do not worry, Forex Peace Army analyst will help you to identify high-probability tradable economic news reports and advise on the trading strategy. Best of all: Forex News Gun - automated forex trading software is free for all. You find all details on Forex News Gun forum and if you want make pips easier you can find additional tools at Forex Tactical Squad.

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Forex News Gun Trade Plan​

Canada Core CPI ⋯ 8:30am NY time (Friday, February 24)

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Traded pairExpected figureDeviation trigger
USDCAD-0.1 (%)±0.3 (%)
BuyUSDCADif actual figure is or is below-0.4 (%)
SellUSDCADif actual figure is or is above0.2 (%)

Expected move during first 20 minutes after the release is 20 pips or more.


Review historical charts where the same deviation of at least 0.3 (%) occurred:​

Canada Core CPI history of charts.​




⋯⋯⋯⋯⋯ FNG Configuration ⋯⋯⋯⋯⋯​

Release name in FNG client: CAD CPI excluding CORE 8 (MoM)

Clicks: first row is for Buy USDCAD button, second one is for Sell USDCAD button:​



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Diamonds Trading Signals Trade Plan​

Canada Core CPI ⋯ 8:30am NY time (Friday, February 24)

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Traded currency pairUSDCAD
Initial spike duration limit15 seconds
Initial spike price action threshold10 pips
Triggering retracement percentage40 %
Retracement duration limit40 seconds
Maximum trade hold time after release15 minutes
Stop loss10 pips
Take profit10 pips
Maximum spread2 pips


  1. If between 08:30:00am and 08:30:15am, so during the first 15 seconds you see USDCAD move up or down by 10 pips or more, then enter in the direction of the initial spike at the very first 40% retracement if it doesn't take more than 40 seconds (till 08:30:40am) – and if spread is at 2 pips or less. Set stop/loss at 10 pips, and set take/profit at 10 pips immediately.

  2. If the move either up or down was less than 10 pips during the first 15 seconds, then the actual number of the report did not generate sufficient interest in the market, and you simply skip the trade.

  3. If by 08:45:00am, so 15 minutes after the report release, neither your stop/loss nor your take/profit points were hit, then close the trade automatically at market price of the time.


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Forex News Gun Trade Plan​

USA New Home Sales ⋯ 10:00am NY time (Friday, February 24)

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Traded pairExpected figureDeviation trigger
USDJPY575 (k)±70 (k)
BuyUSDJPYif actual figure is or is above645 (k)
SellUSDJPYif actual figure is or is below505 (k)

Expected move during first 30 minutes after the release is 20 pips or more.


Review historical charts where the same deviation of at least 70 (k) occurred:​

USA New Home Sales history of charts.​




⋯⋯⋯⋯⋯ FNG Configuration ⋯⋯⋯⋯⋯​

Release name in FNG client: USA New One Family Houses Sold

Clicks: first row is for Sell USDJPY button, second one is for Buy USDJPY button:​


WARNING: Be sure to set 'Range From' interval also in this case in first row (lower interval)!
Otherwise event triggers anyway because there is a name conflict in FNG events dictionary.
(It mixes up New Home Sales and New Home Sales Change.)​


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Diamonds Trading Signals Trade Plan​

USA New Home Sales ⋯ 10:00am NY time (Friday, February 24)

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Traded currency pairUSDJPY
Initial spike duration limit30 seconds
Initial spike price action threshold10 pips
Triggering retracement percentage40 %
Retracement duration limit90 seconds
Maximum trade hold time after release20 minutes
Stop loss10 pips
Take profit10 pips
Maximum spread2 pips


  1. If between 10:00:00am and 10:00:30am, so during the first 30 seconds you see USDJPY move up or down by 10 pips or more, then enter in the direction of the initial spike at the very first 40% retracement if it doesn't take more than 90 seconds (till 10:01:30am) – and if spread is at 2 pips or less. Set stop/loss at 10 pips, and set take/profit at 10 pips immediately.

  2. If the move either up or down was less than 10 pips during the first 30 seconds, then the actual number of the report did not generate sufficient interest in the market, and you simply skip the trade.

  3. If by 10:20:00am, so 20 minutes after the report release, neither your stop/loss nor your take/profit points were hit, then close the trade automatically at market price of the time.


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Peter i have just opened FNG this morning Friday the 24th. February to see that the triggered information does Not match up with the two trades for today.
What is shown is the following:-
AUD Company Operating Profit (QoQ)
AUD GDP q/q
AUD GDP y/y
CAD GDP Annualised (QoQ)

Japan BSI - All Industry QoQ
Japan BSI - Manufacturing
NZD Current Account Balance

By the way i have updated FNG.
There definitely seems to be a problem not only for today but this whole week!
Can something be done ?

Aubrey
 
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