Forex Signal (October 14, 2011 TIME 8:30am EDT) – US CORE Retail Sales

Stavro D'Amore

Former FPA Special Consultant
Messages
547
Hello All,

Today we have US Core retail sales, Im very pip hungry'and this trade could pull a surprise.

US CORE Retail Sales
Forecast 0.3%
Previous 0.1%
Pair to trade: USD/JPY and EUR/USD
Estimated Pips: 40 pips on initial spike


The numbers we will look for:
BUY USD/JPY at 0.8%
BUY EUR/USD at -0.2%


Economical Impact: High (will bring strong volatility)
Typical Result: Good for currency
Occurrence: Released monthly, about 20 days after the month ends


About our Triggers:
We will be looking for a deviation of 0.5 % to BUY USD/JPY and -0.5 to BUY EUR/USD.
If our deviation is hit, there is a strong possibility that the market will move 40 pips on spike immediately; there is a good chance that we will get a 30% retracement before entering if we miss the spike.

What is it? Why does the market care?
Core Retail Sales measures the change in the total value of sales at the retail level in the U.S., excluding automobiles. It is an important indicator of consumer spending and is also considered as a pace indicator for the U.S. economy.

A higher than expected reading should be taken as positive/bullish for the USD
A lower than expected reading should be taken as negative/bearish for the USD.

Method I use to trade this:
Stavro D’Amore Trading Method

Pre News
There is no pre news for this release

Spike Trading
I do recommend spike trading as an option if you have an Auto clicker.
Please use limit orders or bounds set to 15 pip entry

After Spike
I will look for a 30% retracement in the original spike before entering a trade; 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 entry price.

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. I expect to be in this trade for a total of 30 mins.

Historical Chart and Data US CORE Retail Sales

All the best

Stavro D’Amore
 
Last edited by a moderator:
hey bro, i'm sherman here and a new trader.
wat u mean is we go sell or buy at which point and time?


thanks
Dear Sherman,I think you are very new to Forex and stravo probably wil have no time to answer your query cos it has to be explained a bit longer.If you can contact me in "sivaraj.t@gmail.com" I will help.
 
Graphic example

Hello stavro


I folow your recommendations, because I am a news trader, however, please you could add some graphic example (chart) with your retracemen trade, sometie I do not know how entry a trade, 30% retracement fisrt spike ? where? how? (pending order or market order?

Thanks for your pacience

Regards

Alvaro:D
 
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