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:
Review for Friday and preview for Monday (no trades) and Tuesday (2 possible trades)
(the video with signals for Wednesday will be published tomorrow)
There was nothing tradable on Monday, and therefore there is nothing to review.
Let's talk about Tuesday.
1. Tuesday, May 20th, 2008 (5:00 a.m. New York Time) GERMANY, EURO ZONE
At 5:00 a.m. we will have German ZEW Economic Sentiment coming out. It has not been deviating greatly recently; however, we saw pretty good price actions. It is expected it will come out at -37. Even 5 trigger moved EUR/USD pretty well; I will, however, use 8 trigger on both directions. If it comes out at -35 or more negative, I would sell EUR/USD, looking for 35 pips. If it comes out at -29 or less negative, I would buy EUR/USD and look for 35 pips as well. In the past it was a small indicator where you would take 15 pips profit at most, but lately it is more and more tradable. Watch out for comments that may be released after the report as they can mute or accelerate the move depending if they are conflicting or supporting the released number.
2. Tuesday, May 20th, 2008 (8:30 a.m. New York Time) USA
At 8:30 a.m. we will have U.S. PPI coming out. The PPI out of UK did really well so chances are good this U.S. PPI might be tradable too. I would focus more on the core PPI m/m which is expected to come out at 0.2%. I would play safe here and trade this indicator with a bit wider triggers of 0.2 on either direction. If it comes out at 0.4% or higher, this should be significant enough to short on GBP/USD. If it comes out at 0.0% or negative, you might want to enter long on GBP/USD. In either case, I would look for 30 to 40 pips each way. However, if there are conflicts, do NOT trade with 0.2 trigger on core PPI m/m.
That's all for Tuesday.
If you want to make some money on nice spikes, try
The Secret News Weapon - they also offer 25 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 that 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
Forex Trading Signal 05/20/08 -
05-20-2008, 04:59 AM
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