Forex Signal (Thu September 16 2010, 4:30am NY Time EDT) - UK Retail Sales m/m

[swingfiddle]

what is happening to EUR/USD??ITS 70 PIPS up after the release!?

regarding this release and every release, for one to be profitable must know WHEN to enter and when to get out which cannot be calculated excactly.i guess that comes only with big experience and many many practising trades.

 

[rizzo8]

Instead of Henry's suggestion to enter after retracement, I used the Spike method instead. Stayed short for about 2 minutes after news, and exited with a nice 50 pips profit. Thanks Henry :

 

[gunner12]

Hi Sam

Still having a blindspot working out the deviation.
The Actual Release was -0.5. If you apply the formula do you get (-0.5 -0.3) = -0.8%...is this a BUY? or a SELL?

 

[Huwee]

Hi Sam

Still having a blindspot working out the deviation.
The Actual Release was -0.5. If you apply the formula do you get (-0.5 -0.3) = -0.8%...is this a BUY? or a SELL?

The forecast was 0.3%. From Henry's post he says the deviation is:

0.5% to BUY and 0.6% to SELL

He should really say "-0.6%" rather than just 0.6%. However he's done all the calculations for you when he says:

ACTION: GBP/USD BUY 0.8% SELL -0.3%

Note that
0.3% + 0.5% = 0.8%, i.e. BUY
0.3% - 0.6% = -0.3%, i.e. SELL

In this case the result was to SELL (-0.5% is a greater SELL deviation than just -0.3%), although the market retraced almost back to pre-release levels. :- (

Hope this helps!

Huwee.