Hi my dear Trader
If you wish to watch the video, just click on it, and then click on "play" icon. My video version is MUCH MORE detailed so I encourage you to watch it.
HI-res Review.: http://www.yummyapple.com/5-02-2008review.html
HI-res Preview.: http://www.yummyapple.com/5-02-2008preview.html
Let's first review what happened on Thursday.
At 4:30 a.m. we had UK Manufacturing PMI. I did not recommend to trade it; it did not deviate much anyway, so it was just a no trade.
At 8:30 a.m. we had US Core PCE. It came out slightly high but not high enough to enter a trade. The Initial Jobless Claims came out higher by 15 K so it slightly hit sell signal on USD/JPY. First few minutes were very tough but then it worked very well. Watch the video for more details.
At 10:00 a.m. we had U.S. ISM Manufacturing coming out. It did not hit my trigger so it was a no trade. The most aggressive trigger you can use is 1.0 trigger but we got only 0.6 deviation. However, the price moved quite well with 0.6 deviation although it would be too risky to trade with a such small trigger.
At 9:30 p.m. we had Australian Retail Sales which came out pretty close to expectations. It deviated only by 0.2 but the price moved quite well. The price initially moved by 25 pips but again it was not worthy to take a risk.
Let's talk about Friday.
1. Friday, May 02nd, 2008 (8:30 a.m. New York Time) USA
At 8:30 we will have U.S. Non-Farm Payroll. It is expected to come out at -75K but the expectations range from -150K to -18K. Even the most optimistic economists expects a decline on the job market. I would use conservative triggers here. If it comes out at 0K or positive, then it would be good enough to buy and hold USD/JPY, assuming there is no big conflict with the revision. In such case, you can expect 50 to 70 pips move in the first hour of the report. If it comes out at -150K or lower, I would sell USD/JPY, hold for a while and expect 50 to 70 pips move as well. Watch out for the unemployment rate. 0.2 is a significant deviation. If it is conflicting, be extremely careful. In general, higher unemployment rate is bad for the U.S. dollar, and lower unemployment rate is good for the U.S. dollar.
For tips and suggestions how to trade Non-Farm Payroll, please watch the video. Today's preview video is all about the NFP.
If you want to make some money on nice spikes, try The Secret News Weapon - they also offer 21 days money back policy so try it and see if you can grow your account that way. A nice thing about the SNW is it has not only the autoclick feature but it will also allow you to see other reports so you will immediately know if there are any conflicts, and therefore you would know if you should stay in your trade or get out, or maybe even reenter on the retracement. With a fast market moving I cannot imagine checking on-line forex calendars which are really slow.
If you are interested more in trading news, go to Forex Diamonds - News Trading Education as I am trading there all of mentioned indicators live. Join the room, and get a lot of education from me and other traders that are there. I post trade plans and talk about the trades as well as give entry and exit signal live while the market moves. You can try it with no risk for 21 days so if you don't like it it is free. If you find it useful, then you can stick with us and make grow you live account with us. I am pretty sure you will be satisfied but at least give a try.
Thank you and good luck with your trades.
To Our Success!
-Sir Pipsalot
The video with the signal is recorded by Sir Pipsalot.
For your convenience, this text is written based on the video by Crazy Cat
If you wish to watch the video, just click on it, and then click on "play" icon. My video version is MUCH MORE detailed so I encourage you to watch it.
HI-res Review.: http://www.yummyapple.com/5-02-2008review.html
HI-res Preview.: http://www.yummyapple.com/5-02-2008preview.html
Let's first review what happened on Thursday.
At 4:30 a.m. we had UK Manufacturing PMI. I did not recommend to trade it; it did not deviate much anyway, so it was just a no trade.
At 8:30 a.m. we had US Core PCE. It came out slightly high but not high enough to enter a trade. The Initial Jobless Claims came out higher by 15 K so it slightly hit sell signal on USD/JPY. First few minutes were very tough but then it worked very well. Watch the video for more details.
At 10:00 a.m. we had U.S. ISM Manufacturing coming out. It did not hit my trigger so it was a no trade. The most aggressive trigger you can use is 1.0 trigger but we got only 0.6 deviation. However, the price moved quite well with 0.6 deviation although it would be too risky to trade with a such small trigger.
At 9:30 p.m. we had Australian Retail Sales which came out pretty close to expectations. It deviated only by 0.2 but the price moved quite well. The price initially moved by 25 pips but again it was not worthy to take a risk.
Let's talk about Friday.
1. Friday, May 02nd, 2008 (8:30 a.m. New York Time) USA
At 8:30 we will have U.S. Non-Farm Payroll. It is expected to come out at -75K but the expectations range from -150K to -18K. Even the most optimistic economists expects a decline on the job market. I would use conservative triggers here. If it comes out at 0K or positive, then it would be good enough to buy and hold USD/JPY, assuming there is no big conflict with the revision. In such case, you can expect 50 to 70 pips move in the first hour of the report. If it comes out at -150K or lower, I would sell USD/JPY, hold for a while and expect 50 to 70 pips move as well. Watch out for the unemployment rate. 0.2 is a significant deviation. If it is conflicting, be extremely careful. In general, higher unemployment rate is bad for the U.S. dollar, and lower unemployment rate is good for the U.S. dollar.
For tips and suggestions how to trade Non-Farm Payroll, please watch the video. Today's preview video is all about the NFP.
If you want to make some money on nice spikes, try The Secret News Weapon - they also offer 21 days money back policy so try it and see if you can grow your account that way. A nice thing about the SNW is it has not only the autoclick feature but it will also allow you to see other reports so you will immediately know if there are any conflicts, and therefore you would know if you should stay in your trade or get out, or maybe even reenter on the retracement. With a fast market moving I cannot imagine checking on-line forex calendars which are really slow.
If you are interested more in trading news, go to Forex Diamonds - News Trading Education as I am trading there all of mentioned indicators live. Join the room, and get a lot of education from me and other traders that are there. I post trade plans and talk about the trades as well as give entry and exit signal live while the market moves. You can try it with no risk for 21 days so if you don't like it it is free. If you find it useful, then you can stick with us and make grow you live account with us. I am pretty sure you will be satisfied but at least give a try.
Thank you and good luck with your trades.
To Our Success!
-Sir Pipsalot
The video with the signal is recorded by Sir Pipsalot.
For your convenience, this text is written based on the video by Crazy Cat
Last edited by a moderator: