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Forex Signal (Thu, July 08, 04:30 am EST) UK Industrial Production

Discussion in 'Current Forex Trading Signals' started by Crazy Cat, Jul 7, 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...

    Thursday, July 08 (04:30 am New York Time) UK

    We have UK Industrial Production coming out. It is expected to read 0.4. Last month it read -0.3.

    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...scriptions/7394-uk-industrial-production.html

    The trigger for this indicator is 2.0. This means that if UK Industrial Production comes out at 2.4 or more, GBP/USD will probably go up by 30 pips or more in the first 45 minutes of the report. If it comes out at -1.6 or more negative, GBP/USD will probably go down by 30 pips or more in the first 45 minutes of the report.

    I still prefer to be very careful because sometimes this report works really nice and sometimes it does not work at all.

    We will also have UK Manufacturing Production, both m/m and y/y coming out and UK Industrial Production y/y. If they conflict, I recommend skipping the trade, but most likely they won't conflict.

    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 May 11th, UK Industrial Production came out at 2.0, versus an expectation of 0.3. Although it would not hit my trigger, GBP/USD went up by around 30 pips. However, this was a quite disappointing price action, and other months it worked better. Nevertheless, it shows that you have to be prepared for this kind of price action, and plan your TP and SL wisely. See for yourself what happened by seeing this chart: Forex news trading currency exchange charts

    Still, I would not trust this report too much as this is generally a weak report to trade.

    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 Industrial Production m/m

    I hope you make some money on this report.
    -Crazy Cat
     
    #1 Crazy Cat, Jul 7, 2010
    Lasted edited by : Sep 8, 2016

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