Hi there
This is Crazy Cat, with the review of the week.
This week, we were watching 6 economic indicators. 2 of them hit the triggers that I sent to you. Let's review them...
1. Tuesday, January 26th (04:30 New York time) UK (SUCCESS)
The trigger for this indicator was 0.3. This means that if UK GDP q/q comes out at 0.1 or higher, GBP/USD will probably go down by 40 pips in the first 45 minutes of the report. It did come out at 0.1, and GBP/USD moved down by about 90 pips.
Please see for yourself what happened on this chart:
Forex news trading currency exchange charts
2. Friday, January 29th (08:30 New York time) USA
(SUCCESS)
I said if it comes out at 4.9 or higher, USD/JPY would probably go up by 30 pips or more in the first 45 minutes of the report. It actually came out at 5.7, and USD/JPY moved by about 50 pips.
Here is what happened: Forex news trading currency exchange charts
This was a huge deviation and a pretty good trade. If you did not trade the spike, and you entered at the retracement, you probably made a few pips too. Oddly enough, over two hours later the price reversed to the pre-news level. This is why I am not a big fan of U.S. reports right now. Even the spike itself, although great money maker, was not impressive considering such huge deviation we had. Nevertheless, both UK and US reports brought me a decent pay, and since the U.S. number was better than expected, not only I made nice money but also ended a week with a good news from the U.S. economy.
Oh, and Apple announced iPad - certainly a nice toy to have...
I hope you made some good money as well.
Have a good weekend!
--Crazy Cat
This is Crazy Cat, with the review of the week.
This week, we were watching 6 economic indicators. 2 of them hit the triggers that I sent to you. Let's review them...
1. Tuesday, January 26th (04:30 New York time) UK (SUCCESS)
The trigger for this indicator was 0.3. This means that if UK GDP q/q comes out at 0.1 or higher, GBP/USD will probably go down by 40 pips in the first 45 minutes of the report. It did come out at 0.1, and GBP/USD moved down by about 90 pips.
Please see for yourself what happened on this chart:
Forex news trading currency exchange charts
2. Friday, January 29th (08:30 New York time) USA
(SUCCESS)
I said if it comes out at 4.9 or higher, USD/JPY would probably go up by 30 pips or more in the first 45 minutes of the report. It actually came out at 5.7, and USD/JPY moved by about 50 pips.
Here is what happened: Forex news trading currency exchange charts
This was a huge deviation and a pretty good trade. If you did not trade the spike, and you entered at the retracement, you probably made a few pips too. Oddly enough, over two hours later the price reversed to the pre-news level. This is why I am not a big fan of U.S. reports right now. Even the spike itself, although great money maker, was not impressive considering such huge deviation we had. Nevertheless, both UK and US reports brought me a decent pay, and since the U.S. number was better than expected, not only I made nice money but also ended a week with a good news from the U.S. economy.
Oh, and Apple announced iPad - certainly a nice toy to have...
I hope you made some good money as well.
Have a good weekend!
--Crazy Cat
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