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Forex Signal (Tuesday February 21 2012, NY TIME 8:30am EDT) - CA Core Retail Sales

Discussion in 'Current Forex Trading Signals' started by Stavro D'Amore, Feb 20, 2012.

  1. Stavro D'Amore

    Stavro D'Amore Former FPA Special Consultant

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    Hello

    Please see my trade plan:

    CA Core Retail Sales m/m
    Forecast 0.1%
    Previous 0.3%
    Pair to trade: USD/CAD

    Numbers we need: BUY USD/CAD -0.4%
    SELL USD/CAD 0.6%

    Economical Impact: Critical
    Typical Result: Good for currency
    Occurrence: monthly, about 50 days after the month ends
    Spike Probability: Very Good, 35 pips if triggered

    About our Triggers:
    CA Core Retail Sales m/m is forecasted to arrive at 0.1%.
    We are looking for a deviation of 0.5% on this trade.
    If we get -0.4% or lower I will look to enter a LONG position on USD/CAD and if we get 0.6% or greater I will go SHORT on USD/CAD.
    Should this report be triggered, we can expect to see about 35pips on the initial spike.


    What is it? And why does the market care?
    The Core Retail Sales is a monthly measurement of all goods sold by retailers based on a sampling of retail stores of different types and sizes in Canada, excluding auto. The Auto market tends to be very volatile and distorts the underlying actual trend. The Core data is therefore thought to be a better gauge of spending trend as it excludes auto. It is an important indicator of consumer spending and also correlated to consumer confidence and considered as a pace indicator of the Canadian economy.

    A higher than expected reading should be taken as positive/bullish for the CAD
    A lower than expected reading should be taken as negative/bearish for the CAD

    Method I use to trade this:
    Stavro D’Amore Trading Method

    I will look for a 30-50% retracement in the original spike before entering a trade; I will be looking at a 15 minute chart.

    I will sell half my position as soon as I hit the original high point of the first initial spike and place a SL at the original spike price.

    NOTE: I will not take retracement on this trade unless our triggers are hit or I see a minimum of 30+ pips move

    My TP level would be just before a resistance level or if the chart decides to form a support level, looking at a 15 minute chart time frame to analyse this.

    I do recommend spike trading as an option because the liquidity is very good at the moment if you are using an ECN broker.

    Historical Chart and Data for CA Core Retail Sales

    All the best

    Stavro D’Amore
     
  2. croatpolish

    croatpolish Recruit

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    Best sites for news updates

    Hi everyone , can someone recommend the official or other websites which are best to get the information for see releases , I mean the fastest way to get the news results

    Thanks a million

    Steve C
     
  3. NicoRoets

    NicoRoets Recruit

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  4. ganiyu wahab

    ganiyu wahab Recruit

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  5. Alaa Dein

    Alaa Dein Recruit

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    Forex Factory
     
  6. AsstModerator

    AsstModerator FPA Forums and Reviews Admin

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  7. RahmanSL

    RahmanSL 2nd Lieutenant

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    AH, there you are AsstModerator! How is your AUD/CAD doing???


    I suppose most everyone (including me) are so busy looking for FREE signals & analysis, and arguing that they/we forgot there is a Forex Calendar at the top of this page:p

    Looks like constant reminder is required to highlight that there are many more features here at the FPA other than posting in this forum;)
     

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