Forex Trading Signals Summary - Tuesday, November 5 2013

[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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Diamonds Trading Signals Trade Plan

UK Services PMI - 4:28am NY time (Tuesday, November 5)

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	Traded currency pair	:	GBPUSD
	Initial spike duration limit	:	30 seconds
	Initial spike price action threshold	:	12 pips
	Triggering retracement percentage	:	40 %
	Retracement duration limit	:	90 seconds
	Maximum trade hold time after release	:	20 minutes
	Stop loss	:	10 pips
	Take profit	:	10 pips
	Maximum spread	:	2 pips

1. If between 04:28:00am and 04:28:30am, so during the first 30 seconds you see GBPUSD move up or down by 12 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 04:29:30am) – 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 12 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 04:48:00am, 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.

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

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O O O
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Forex News Gun Trade Plan

USA Non-Manufacturing PMI - 10:00am NY time (Tuesday, November 5)

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	Traded pair	Expected figure	Deviation trigger
	USDJPY	54.0	±2.5

	Buy	USDJPY	if actual figure is or is above	56.5
	Sell	USDJPY	if actual figure is or is below	51.5

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


Review historical charts where the same deviation of at least 2.5 occurred:

USA Non-Manufacturing PMI history of charts.

Once there, set filter to Difference Actual-Forecast >= 2.5 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: ISM Non-Manufacturing Composite

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 Non-Manufacturing PMI - 10:00am NY time (Tuesday, November 5)

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	Traded currency pair	:	USDJPY
	Initial spike duration limit	:	30 seconds
	Initial spike price action threshold	:	12 pips
	Triggering retracement percentage	:	40 %
	Retracement duration limit	:	90 seconds
	Maximum trade hold time after release	:	15 minutes
	Stop loss	:	10 pips
	Take profit	:	10 pips
	Maximum spread	:	2 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 12 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 12 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 10:15:00am, 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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O O O
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Forex News Gun Trade Plan

New Zealand Employment Change - 4:45pm NY time (Tuesday, November 5)

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	Traded pair	Expected figure	Deviation trigger
	NZDUSD	0.6 (%)	±0.4 (%)

	Buy	NZDUSD	if actual figure is or is above	1.0 (%)
	Sell	NZDUSD	if actual figure is or is below	0.2 (%)

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


Review historical charts where the same deviation of at least 0.4 (%) occurred:

New Zealand Employment Change history of charts.

Once there, set filter to Difference Actual-Forecast >= 0.4 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: New Zealand Employment Change (QoQ)

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




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[shogunfx]

UK Services PMI - was scheduled at 4:28am NY time , but in FNG was delayed by 2 minutes.

 

[Peter O]

UK Services PMI - was scheduled at 4:28am NY time , but in FNG was delayed by 2 minutes.

Hi,

Actually this is why I don't send out Forex News Gun trade plans for UK PMIs because those services that get these events 2 minutes earlier aren't integrated into FNG yet. As soon as we succeed in doing that I send out a message and I include FNG trade plans.

Peter