Forex Trading Signal 05/13/08

Crazy Cat · (#1 (**permalink**))

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.

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YouTube - Forex News Day Trading Signal - 05/13/08 Part 2

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Hi res: 5-13-2008review.swf

Hi res: 5-13-2008preview.swf

Let's first review what happened on Monday.

We had UK PPI and Trade Balance, and it actually worked very well. There was no signal on this so if you are interested in review, please watch the video.

Now let's focus on Tuesday.

1. Tuesday, May 13th, 2008 (3:30 a.m. New York Time) SWEDEN
At 3:30 a.m. we will have Sweden CPI Underlying y/y which is expected to come out at 2.3%. I would use 0.2 deviation here as long as there is no conflict with the headline. If it comes out at 2.5% or higher, I would sell EUR/SEK, looking for about 400 pips. If it comes out at 2.1% or lower, I would buy EUR/SEK, looking for about 400 pips as well.

2. Tuesday, May 13th, 2008 (4:30 a.m. New York Time) UK
At 4:30 a.m. we will have UK CPI headline y/y. This is going to be highly anticipated number. Because we just had the PPI indicator, there will be a lot of speculations that the CPI is going to come out higher. I am going to trade the headline number which is more in focus right now. It is expected to come out at 2.6%. If it comes out at 2.9% or higher, I would buy GBP/USD and expect 40 pips move; if it comes out at 2.4% or lower (or 2.5% if there are no conflicts), I would sell GBP/USD and expect 40 pips move as well. Because people are expecting higher CPI, if it comes out higher by 0.1 or 0.2, it may spike up but it might be a short living trade. Probably there are a lot of people already holding long positions on GBP/USD so they might be taking profits as soon as the number is released. Therefore, be very careful with a long trade at the time of release. Also, you might consider entering a long trade around 2.00 a.m. and get out before the news. Don't put a lot of money on such speculative trade, and make your own judge on it. In addition to GBP/USD, try to trade some other pairs such as GBP/JPY, EUR/GBP (reverse triggers) or GBP/CHF. On the other hand, if we get 2.4% (or 2.5% with no conflicts from the other numbers), that should be a great selling opportunity on the GBP/USD because that would be totally opposite to what people are expecting right now.

PLEASE WATCH THE VIDEO FOR DETAILED INFORMATIONS ABOUT THIS TRADE.

3. Tuesday, May 13th, 2008 (8:30 a.m. New York Time) USA
At 8:30 a.m. we will have U.S. Retail Sales Core m/m. I would trade 0.5 deviation on it. If it comes out at 0.7% or higher, I would buy USD/JPY, looking for about 40 to 50 pips of a price action. If it comes out at -0.3% or lower, I would sell USD/JPY, looking for 40 to 50 pips as well. Make sure there are no conflicts with the headline number.

That would be all for tomorrow.

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

icash55 · (#2 (**permalink**))

You were right, GBP/USD upmove after news was short lived. Thank you!

cephask · (#3 (**permalink**))

I got burned on GU 4.30am. It was my fault, cos I could remember Sir Pips asked us to be careful with entry, cos according to him, many people were on the bull ride before the news. The price skyrocketed in the first few seconds. Seems some people got the news even before it was posted. I had to enetr somehow, and lost 40 pips in the end.
Out of fear, I missed up to 30pips I could have made, if I entered UJ at 104.18, that I had the chance. Oh, no! There has to be a way to subscribe to FX Diamonds.

Scam Investigations Committee · (#4 (**permalink**))

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