Diamonds Trading Signals Summary - Friday, June 23 2017

Peter O

Special Consultant to the FPA
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How does after spike forex news trading work?

Forex News Trading can be extremely profitable if you have an understanding of fundamental analysis and have good trade plans to benefit from price action as they unfold after an ecomonic release. Do not worry, Forex Peace Army analyst will help you to identify high-probability tradable economic news reports and advise on the trading strategy. You can find more details at Introduction to Afterspike Trading using Diamonds Trading Signals.
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Diamonds Trading Signals Trade Plan​

Canada CPI ⋯ 8:30am NY time (Friday, June 23)

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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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Diamonds Trading Signals Trade Plan​

USA New Home Sales ⋯ 10:00am NY time (Friday, June 23)

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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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