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Forex Signal (Thu, April 01, 04:28 am EST) UK Manufacturing PMI

Discussion in 'Current Forex Trading Signals' started by Crazy Cat, Mar 31, 2010.

  1. Crazy Cat

    Crazy Cat Former FPA Special Consultant

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    Hi there :)

    This is Crazy Cat writing.

    On Monday, April 01 at 04:28 am New York Time we will have UK Manufacturing PMI coming out. It is expected to read 56.8. Last month it read 56.6.

    This should be released at 04:28.

    I recommend trading GBP/USD for this report.

    This is quite risky report to trade and recently it was causing some problems. I still think it might be worthy to give a try but please be very careful and be ready to exit if the price does not seem to go anywhere.

    Please read what this indicator means and how it affects the GBP/USD by going to this link: http://www.forexpeacearmy.com/forex...r-descriptions/7326-uk-manufacturing-pmi.html

    The trigger for this indicator is 3.2. This means that if UK Manufacturing PMI comes out at 60.0 or higher, GBP/USD will probably go up by 30 pips or more in the first 45 minutes of the report. If it comes out at 53.6 or lower, GBP/USD will probably go down by 30 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: http://www.forexpeacearmy.com/forex...ing-pmi-after-spike-retracement-strategy.html

    For example: on January 04th, UK Manufacturing PMI came out at 54.1, versus an expectation of 52. GBP/USD went up by around 65 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 Manufacturing PMI

    I hope you make some money on this report.
    -Crazy Cat
     
    #1 Crazy Cat, Mar 31, 2010
    Lasted edited by : Sep 8, 2016
  2. eaga70

    eaga70 Recruit

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    I have a question

    Hi Crazy Cat,

    Thank you very much for your tip, and thanks for sharing it with all of us.

    I just want to know to be able to benefit best from your tip when is the best time to buy. Do I buy now, but if I buy now then the during the day and untill 4:28 am the fluctuation will be there and if there is big negative fluctuation, then I might lose money if I put stop limit on the trade and if I do not put a stop limit on the trade I might lose the account.

    Please note that I am new at this and I seek your expertise to help me become a good trader.

    Thank you for your help.
     
  3. phale

    phale Recruit

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    I'd like to trade GU pair, thank you very much
     
  4. Boko Maru

    Boko Maru Sergeant

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    Quick comment for what it may be worth. I think a lower trigger can possibly work. Reason for that is the release on 2-2-2010 sure looks like a leak ahead of time. The deviation was +2.8, but it only spiked up 19 pips then right back down. But, if you add in the upward movement several minutes before the release, the move was around 40 pips; much more typical for that deviation.

    The reason I think it was a leak and not just an unrelated upmove was because GU was in a distinct downtrend right up until about 5 minutes before the release. Then, it moved up about 25 pips right before release time, then spiked another 15-20 pips at the release. In total, that equals about a 40 pip move, which is quite normal for a 2.8 deviation (per history).

    So, how to trade it? For SNW users, one option might be to setup for a lower trigger like 2.5 or something, then if it looks like no leak, stick with that. If it does look like a leak however, change the trigger to the 3.2 before SNW fires.

    Just a suggestion, but thought it might worth noting...
     

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