Forex Trading Signals Summary - Friday, February 7 2014

[Peter O]

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 Employment Change - 8:30am NY time (Friday, February 7)


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[TR]
[TD][/TD]
[TD="width: 140, align: center"]Traded pair[/TD]
[TD="width: 140, align: center"]Expected figure[/TD]
[TD="width: 140, align: center"]Deviation trigger[/TD]
[TD][/TD]
[/TR]
[TR]
[TD][/TD]
[TD="align: center"]CADJPY[/TD]
[TD="align: center"]14.5 (k)[/TD]
[TD="align: center"]±20.0 (k)[/TD]
[TD][/TD]
[/TR]

[TR]
[TD][/TD]
[TD="width: 30, align: center"]Buy[/TD]
[TD="width: 60, align: center"]CADJPY[/TD]
[TD="width: 230, align: center"]if actual figure is or is above[/TD]
[TD="width: 80, align: right"]34.5 (k)[/TD]
[TD][/TD]
[/TR]
[TR]
[TD][/TD]
[TD="width: 30, align: center"]Sell[/TD]
[TD="width: 60, align: center"]CADJPY[/TD]
[TD="width: 230, align: center"]if actual figure is or is below[/TD]
[TD="width: 80, align: right"]-5.5 (k)[/TD]
[TD][/TD]
[/TR]

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




Review historical charts where the same deviation of at least 20.0 (k) occurred:


Canada Employment Change history of charts.


Once there, set filter to Difference Actual-Forecast >= 20.0 and click "Filter" to see list of charts.




To review Forex News Gun step by step trade plan go to weekly detailed posts.




--–––––————— FNG Configuration —————–––––--


Release name in FNG client: STCA Canada Net Change in Labo


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







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O O O
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Forex News Gun Trade Plan


USA Nonfarm Payroll - 8:30am NY time (Friday, February 7)


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[TR]
[TD][/TD]
[TD="width: 140, align: center"]Traded pair[/TD]
[TD="width: 140, align: center"]Expected figure[/TD]
[TD="width: 140, align: center"]Deviation trigger[/TD]
[TD][/TD]
[/TR]
[TR]
[TD][/TD]
[TD="align: center"]USDJPY[/TD]
[TD="align: center"]180 (k)[/TD]
[TD="align: center"]±75 (k)[/TD]
[TD][/TD]
[/TR]

[TR]
[TD][/TD]
[TD="width: 30, align: center"]Buy[/TD]
[TD="width: 60, align: center"]USDJPY[/TD]
[TD="width: 230, align: center"]if actual figure is or is above[/TD]
[TD="width: 80, align: right"]255 (k)[/TD]
[TD][/TD]
[/TR]
[TR]
[TD][/TD]
[TD="width: 30, align: center"]Sell[/TD]
[TD="width: 60, align: center"]USDJPY[/TD]
[TD="width: 230, align: center"]if actual figure is or is below[/TD]
[TD="width: 80, align: right"]105 (k)[/TD]
[TD][/TD]
[/TR]

Expected move during first 15 minutes after the release is 50 pips or more.




Review historical charts where the same deviation of at least 75 (k) occurred:


USA Nonfarm Payroll history of charts.


Once there, set filter to Difference Actual-Forecast >= 75 and click "Filter" to see list of charts.




To review Forex News Gun step by step trade plan go to weekly detailed posts.




--–––––————— FNG Configuration —————–––––--


Release name in FNG client: US NonFarm Payrolls


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







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O O O
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Diamonds Trading Signals Trade Plan


USA Nonfarm Payroll - 8:30am NY time (Friday, February 7)


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[TR]
[TD][/TD]
[TD="width: 300"]Traded currency pair[/TD]
[TD="width: 20"]:[/TD]
[TD="width: 100"]USDJPY[/TD]
[TD][/TD]
[/TR]
[TR]
[TD][/TD]
[TD]Initial spike duration limit[/TD]
[TD]:[/TD]
[TD]30 seconds[/TD]
[TD][/TD]
[/TR]
[TR]
[TD][/TD]
[TD]Initial spike price action threshold[/TD]
[TD]:[/TD]
[TD]25 pips[/TD]
[TD][/TD]
[/TR]
[TR]
[TD][/TD]
[TD]Triggering retracement percentage[/TD]
[TD]:[/TD]
[TD]30 %[/TD]
[TD][/TD]
[/TR]
[TR]
[TD][/TD]
[TD]Retracement duration limit[/TD]
[TD]:[/TD]
[TD]90 seconds[/TD]
[TD][/TD]
[/TR]
[TR]
[TD][/TD]
[TD]Maximum trade hold time after release[/TD]
[TD]:[/TD]
[TD]15 minutes[/TD]
[TD][/TD]
[/TR]
[TR]
[TD][/TD]
[TD]Stop loss[/TD]
[TD]:[/TD]
[TD]15 pips[/TD]
[TD][/TD]
[/TR]
[TR]
[TD][/TD]
[TD]Take profit[/TD]
[TD]:[/TD]
[TD]15 pips[/TD]
[TD][/TD]
[/TR]
[TR]
[TD][/TD]
[TD]Maximum spread[/TD]
[TD]:[/TD]
[TD]3 pips[/TD]
[TD][/TD]
[/TR]

1. If between 08:30:00am and 08:30:30am, so during the first 30 seconds you see USDJPY move up or down by 25 pips or more, then enter in the direction of the initial spike at the very first 30% retracement if it doesn't take more than 90 seconds (till 08:31:30am) – and if spread is at 3 pips or less. Set stop/loss at 15 pips, and set take/profit at 15 pips immediately.
2. If the move either up or down was less than 25 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 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.

To review Diamonds Trading Signals more detailed trade plan go to weekly posts.


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[Pakito99]

Hi guys! Does anybody know what's the fastest source to see News Releases (economic calendar updates) ?

Until now I used forexrazor but lately it's now that fast anymore. What do you guys use?

Please Help!

Thanks!

 

[Onyebuchim C. Obike]

Forex Factory is quite fast but due to server loads especially for high impact release like NFP you would not likely get an instant result until you refresh the page. As for me i use two news sources side by side in case one fails. Try Forex Trading Resources & Tools: LIVE FX-CALENDAR and Forex Economic Calendar @ DailyFX

I use both of them. However for a high impact news release like the NFP do not expect too much from news sources. On the contrary you can hook up to LIVE CNBC Squark on your Cable Network or Satellite Television

 

[gagolek]

Dear Peter?
Are you checking us again;-)
"Expected move during first minutes after the release is pips or more."
How many minutes? How many pips?
Thanks, regards
gagolek

 

[Exoskeletor]

US NOnFarm Payroll triggered,lets see how it goes. i doubled check the settings they ware fine, for now im -50 pips
and now +50

 

[Peter O]

Dear Peter?
Are you checking us again;-)
"Expected move during first minutes after the release is pips or more."
How many minutes? How many pips?
Thanks, regards
gagolek

You just spotted again corrected even for future events.

 

[Pakito99]

Hi!

Thanks for your response. That means that forexrazor is the same. On the big news releases it's a bit slow.

Imagine that forexrazor released nonfarm payrolls result at 13:30:45 GMT.

USD/JPY was already down by 50-70 pips, and that confuses you. By the time you see the result you don't know anymore what to do, I'ts gonna continue to drop or it's gonna be a retracement.