Please see my trade plan:
CA Core Retail Sales
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 is forecasted to arrive at 0.1%.
We are looking for a 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 .
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
Results 1 to 7 of 7
02-20-2012, 03:49 PM #1
Forex Signal (Tuesday February 21 2012, NY TIME 8:30am EDT) - CA Core Retail Sales
02-20-2012, 07:18 PM #2
02-20-2012, 08:45 PM #3
02-20-2012, 08:50 PM #4
02-20-2012, 10:50 PM #5
02-20-2012, 11:53 PM #6
02-21-2012, 12:24 AM #7
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
Looks like constant reminder is required to highlight that there are many more features here at the FPA other than posting in this forum"Making Profit IS EASY, keeping it IS NOT!"
Each & everyone of us started & came out number ONE in a group race of between 20 to 40 million individual sperms.
Nothing ilks a professional Trader more than a successful Trader who simply trade with what he/she see/read in the market and without any fancy/complicated indicators/analysis/what-so-ever.
By Stavro D'Amore in forum Current Forex Trading SignalsReplies: 0Last Post: 04-24-2012, 05:27 AM
By Stavro D'Amore in forum Current Forex Trading SignalsReplies: 0Last Post: 03-13-2012, 04:38 AM
By Stavro D'Amore in forum Current Forex Trading SignalsReplies: 0Last Post: 02-13-2012, 06:12 PM
By Stavro D'Amore in forum Current Forex Trading SignalsReplies: 3Last Post: 01-24-2012, 03:24 PM
By Stavro D'Amore in forum Current Forex Trading SignalsReplies: 0Last Post: 10-24-2011, 04:36 PM