Forex Signal (Friday August 12, 2011 - 8:30AM NY Time, EDT) - US Core Retail Sales

[Stavro D'Amore]

In the AU Employment Change you said :
"Prior to the release (10 mins) I will be looking for a short term LONG position in AUD/USD and I would be out of this LONG trade 3 minutes before the actual release or to avoid any spreads that should widen."

For this release you say :

"Approximately 5 minutes prior to the news release I will be looking for a short term LONG position in EUR/USD.
I would be out of this LONG trade 2 minutes before the actual release, or to avoid any spreads that should widen."

Is there a reason for the different timings or is it a typo ?

No there is a reason, different pairs, different volatility and the impact of the news is different so the time limit will be different. No typo there.

 

[Stavro D'Amore]

In the AU Employment Change you said :
"Prior to the release (10 mins) I will be looking for a short term LONG position in AUD/USD and I would be out of this LONG trade 3 minutes before the actual release or to avoid any spreads that should widen."

For this release you say :

"Approximately 5 minutes prior to the news release I will be looking for a short term LONG position in EUR/USD.
I would be out of this LONG trade 2 minutes before the actual release, or to avoid any spreads that should widen."

Is there a reason for the different timings or is it a typo ?

No typo, this is because its a different trade, different impact of news release.

 

[samfx]

Starvo you said that :
"We are looking for a deviation on this trade of 0.6% to enter a LONG position on USDJPY and -0.4% to enter LONG position on EUR/USD".

My question is why we don't short USDJPY pair if we get -0.4% instead of buying EURUSD? It makes it more easier to trade the auto-click software and use one pair either buy or short depend on the deviation (forecast/actual).

Are you considering support/resistance level or the trend direction? and based on that you pick which pair(s) to trade? I am just guessing.

Thank you for the info.

 

[Rah]

Hello Starvo,

Can you please provide recomemded Slippage and Stop Loss ? Thanks