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.:
02-28-2008.swf
Let's now first review what happened on Wednesday.
Unfortunately, the UK GDP came out exactly as expected so there was no opportunity to place any trade.
U.S. Durable Goods came out low but not low enough to enter the trade. Another no trade here.
U.S. Home Sales came out close to expectations so it also did not give us any opportunity to trade. It was a slow day.
Let's now talk about tomorrow.
1. Thursday, February 28th, 2008 (3:15 a.m. New York Time) SWITZERLAND
At 3:15 a.m. we had Swiss Employment m/m. It is expected to come out at 2.5%. I would trade 0.4 deviation. If it comes out at 2.9% or higher, I would sell USD/CHF. If it comes out at 2.1% or lower, I would buy USD/CHF or GBP/CHF. On USD/CHF I would expect about 25 pips price action.
2. Thursday, February 28th, 2008 (8:30 a.m. New York Time) USA
At 8:30 a.m. we will have U.S. GDP annualized. It is expected to come out at 0.8%. Tomorrow is a second revision number. 0.4 trigger should be sufficient on this one. If it comes out at 1.2% or higher, I would buy USD/JPY. If it comes out at 0.4% or lower, I would sell USD/JPY, looking for 40 pips of a price action. Remember, the way how it is calculated the annualized form is they take actual quarterly number and then multiply by 4; that's why we have wider trigger here as opposed to the UK we saw earlier today.
3. Thursday, February 28th, 2008 (6:30 p.m. New York Time) JAPAN
At 6:30 p.m. we will have Tokyo CPI X Fresh Food y/y. It is expected to come out at 0.5%, largely due to oil. I will be trading 0.2 deviation on this. If it comes out at 0.7%, I will be a big sell signal on USD/JPY, looking for 35 to 50 pips of a price action. If it comes out low at 0.3% or lower, I would go long on EUR/JPY because the USD may stay weak all week, and if it is the case for tomorrow, I think long EUR/JPY is more safe and fruitful. I would expect 40 to 50 pips move if the low trigger is hit.
That's all for tomorrow. As always, you can watch more detailed signal by clicking on the video link.
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
Forex Trading Signal 02/28/08 -
02-28-2008, 05:59 AM
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