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Forex Signal (Mon, July 05, 4:28 am EST) UK Services PMI

Discussion in 'Current Forex Trading Signals' started by Crazy Cat, Jul 4, 2010.

  1. Crazy Cat

    Crazy Cat Former FPA Special Consultant

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    Hi there :)

    This is Crazy Cat with a potentially profitable trading opportunity...

    Monday, July 05 at 4:28 am New York Time we will have UK Services PMI coming out. It is expected to read 55.0. Last month it read 55.4.

    Two months ago this report did not work but I think it was a one time deal, and I still think it is worthy to give a try. I am providing, however, a bit bigger triggers.

    I recommend trading GBP/USD for this report.

    Please read what this indicator means and how it affects the GBP/USD by going to this link: http://www.forexpeacearmy.com/forex-forum/economic-indicator-descriptions/7370-uk-services-pmi.html

    The trigger for this indicator is 2.1. This means that if UK Services PMI comes out at 57.1 or more, GBP/USD will probably go up by 35 pips or more in the first 45 minutes of the report. If it comes out at 52.9 or less, GBP/USD will probably go down by 35 pips or more in the first 45 minutes of the report.

    Obviously, the bigger the difference between expected and actual numbers, the bigger will be the move.

    To read the after-spike retracement strategy for this report click here: Diamonds Forex Trading System (Trading News After The Spike) - Forex Peace Army Forum

    For example: on April 07, UK Services PMI came out at 56.5, versus an expectation of 58.0. GBP/USD went down by 60 pips. See for yourself what happened on this chart: Forex news trading currency exchange charts

    I highly recommend you study the entire history and charts of this report by following this link: Forex News Trading | Details and History for GBP Services PMI

    I hope you make some money on this report.
    -Crazy Cat
     
    #1 Crazy Cat, Jul 4, 2010
    Lasted edited by : Sep 8, 2016
  2. KJeff

    KJeff Recruit

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    Hello, so where do we look for the outcome of the report 4 hours from now?
    I'm a newbie so sorry for the question.
     
  3. ishmael2013

    ishmael2013 Recruit

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    Where to look for the news

    Look on forexpeacearmy.com under the "Forex Calendar & Tools" tab, then select Forex News Calendar.

    There are also DOZENS of other sources if you just google "Forex calendar." I prefer to use the FPA one.

    I hope you're not trading on a live account yet!!
     
  4. brysown1

    brysown1 Recruit

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    Forex Calendar @ Forex Factory

    One place to get scheduled news events
    IMO
    Best to wait for spike, read the advice/rules from the chapter, trying to get news first and place trade at same time very tough
     
  5. KJeff

    KJeff Recruit

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    Thanks for the reply ishmael2013.
    Apparently, I am already trading on a real account.
     
  6. Techboy

    Techboy Banned affilate spammer for JustForex

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    I just rack 20 pips on UK PMI. Keep up the good work to your fellow trader, More power! I could have taken more but I am a conservative type of a trader. 20 pips is enough for me!
     
  7. ashish_211

    ashish_211 Recruit

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    ishmael, pls confirm if the trade got triggered. I was on standby and did not see any trading opportunity from this report as it did not meet the trigger criteria of 2.1 from crazy cat and also the divergence was too less to act upon. thanks.
     
  8. gibson

    gibson Private

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    thanks

    thanks for information but i still want to know since the triger goes not reach up to 2.1, did you buy or sell?

    Thanks
     

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