Diamonds Trading Signals Summary - Wednesday, September 16 2020

Peter O

Special Consultant to the FPA
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3,672

How does after spike forex news trading work?

Forex News Trading can be extremely profitable if you have an understanding of fundamental analysis and have good trade plans to benefit from price action as they unfold after an economic release. Do not worry, Forex Peace Army analyst will help you to identify high-probability tradable economic news reports and advise on the trading strategy. You can find more details at Introduction to Afterspike Trading using Diamonds Trading Signals.
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Diamonds Trading Signals Trade Plan

UK CPI ⋯ 2:00am NY time (Wednesday, September 16)

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Traded currency pairGBPUSD
Initial spike duration limit20 seconds
Initial spike price action threshold15 pips
Triggering retracement percentage50 %
Retracement duration limit60 seconds
Maximum trade hold time after release15 minutes
Stop loss10 pips
Take profit10 pips
Maximum spread2 pips


  1. If between 02:00:00am and 02:00:20am, so during the first 20 seconds you see GBPUSD move up or down by 15 pips or more, then enter in the direction of the initial spike at the very first 50% retracement if it doesn't take more than 60 seconds (till 02:01:00am) – and if spread is at 2 pips or less. Set stop/loss at 10 pips, and set take/profit at 10 pips immediately.

  2. If the move either up or down was less than 15 pips during the first 20 seconds, then the actual number of the report did not generate sufficient interest in the market, and you simply skip the trade.

  3. If by 02:15:00am, so 15 minutes after the report release, neither your stop/loss nor your take/profit points were hit, then close the trade automatically at market price of the time.

To review Diamonds Trading Signals more detailed trade plan go to weekly posts.

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Diamonds Trading Signals Trade Plan

Canada CPI ⋯ 8:30am NY time (Wednesday, September 16)

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Traded currency pairUSDCAD
Initial spike duration limit15 seconds
Initial spike price action threshold10 pips
Triggering retracement percentage40 %
Retracement duration limit40 seconds
Maximum trade hold time after release15 minutes
Stop loss10 pips
Take profit10 pips
Maximum spread2 pips


  1. If between 08:30:00am and 08:30:15am, so during the first 15 seconds you see USDCAD move up or down by 10 pips or more, then enter in the direction of the initial spike at the very first 40% retracement if it doesn't take more than 40 seconds (till 08:30:40am) – and if spread is at 2 pips or less. Set stop/loss at 10 pips, and set take/profit at 10 pips immediately.

  2. If the move either up or down was less than 10 pips during the first 15 seconds, then the actual number of the report did not generate sufficient interest in the market, and you simply skip the trade.

  3. If by 08:45:00am, so 15 minutes after the report release, neither your stop/loss nor your take/profit points were hit, then close the trade automatically at market price of the time.

To review Diamonds Trading Signals more detailed trade plan go to weekly posts.

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Diamonds Trading Signals Trade Plan

USA Core Retail Sales ⋯ 8:30am NY time (Wednesday, September 16)

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Traded currency pairUSDJPY
Initial spike duration limit15 seconds
Initial spike price action threshold8 pips
Triggering retracement percentage35 %
Retracement duration limit40 seconds
Maximum trade hold time after release15 minutes
Stop loss8 pips
Take profit8 pips
Maximum spread2 pips


  1. If between 08:30:00am and 08:30:15am, so during the first 15 seconds you see USDJPY move up or down by 8 pips or more, then enter in the direction of the initial spike at the very first 35% retracement if it doesn't take more than 40 seconds (till 08:30:40am) – and if spread is at 2 pips or less. Set stop/loss at 8 pips, and set take/profit at 8 pips immediately.

  2. If the move either up or down was less than 8 pips during the first 15 seconds, then the actual number of the report did not generate sufficient interest in the market, and you simply skip the trade.

  3. If by 08:45:00am, so 15 minutes after the report release, neither your stop/loss nor your take/profit points were hit, then close the trade automatically at market price of the time.

To review Diamonds Trading Signals more detailed trade plan go to weekly posts.

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Diamonds Trading Signals Trade Plan

Australia Employment Change ⋯ 9:30pm NY time (Wednesday, September 16)

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Traded currency pairAUDUSD
Initial spike duration limit20 seconds
Initial spike price action threshold20 pips
Triggering retracement percentage30 %
Retracement duration limit60 seconds
Maximum trade hold time after release15 minutes
Stop loss10 pips
Take profit10 pips
Maximum spread2 pips


  1. If between 09:30:00pm and 09:30:20pm, so during the first 20 seconds you see AUDUSD move up or down by 20 pips or more, then enter in the direction of the initial spike at the very first 30% retracement if it doesn't take more than 60 seconds (till 09:31:00pm) – and if spread is at 2 pips or less. Set stop/loss at 10 pips, and set take/profit at 10 pips immediately.

  2. If the move either up or down was less than 20 pips during the first 20 seconds, then the actual number of the report did not generate sufficient interest in the market, and you simply skip the trade.

  3. If by 09:45:00pm, so 15 minutes after the report release, neither your stop/loss nor your take/profit points were hit, then close the trade automatically at market price of the time.

To review Diamonds Trading Signals more detailed trade plan go to weekly posts.

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