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Forex Signal (Thur, April 08, 04:30 am EST) UK Industrial Production

Discussion in 'Current Forex Trading Signals' started by Crazy Cat, Apr 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, April 08th (4:30 am New York Time) UK

    We have UK Industrial Production coming out. It is expected to read 0.5. Last month it read -0.4.

    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 1.5. This means that if UK Industrial Production comes out at 2.0 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 -1.0 or more negative, GBP/USD will probably go down by 35 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 (like last month) 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: http://www.forexpeacearmy.com/forex...duction-after-spike-retracement-strategy.html

    For example: on March 10th, UK Industrial Production came out at -0.4, versus an expectation of 0.3. Although it would not hit my trigger, GBP/USD went down by around 60 pips. 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 two months ago similar deviation did not produce any meaningful price action.

    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, Apr 7, 2010
    Lasted edited by : Sep 8, 2016
  2. Dubai

    Dubai Private, 1st Class

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    Why do you not trade the manufacturing production considering it takes up 80% of total production and industrial only counts for 20%?
     
  3. fredpipster

    fredpipster Private

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    It's the other way around... industrial is bigger news...
     
  4. Dubai

    Dubai Private, 1st Class

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    Taken from FF:

    'Manufacturing makes up around 80% of total Industrial Production and tends to dominate the market impact;'.
     
  5. omo9ja

    omo9ja Private, 1st Class

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    Nice move, but only saw the train moving, i never had the chance to get on it. Crazy cat, could u please pay a little more attention to the m/m and y/y stuff on these news. it could be confusing atimes though not like today. Thanks.
     
  6. Boko Maru

    Boko Maru Sergeant

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    You can trade both if you want to, especially with SNW; I do it every month. I set up for a 0.6 trigger on Ind, and a 0.9 trigger on Manf. Simple. You can review the history on the FPA calender and determine your own triggers. That's a good practice anyway, as Crazy Cat may not always be available every release to provide them.

    I typically use different triggers myself anyway, based on my own research....

    I wouldn't take what FF says as authoritative to be honest. They have some releases listed as "high impact" that are basically no impact. But it really doesn't matter. Doing the research will tell you what you need to know re. what triggers to use for what release, and again, that's a habit you should get into anyway if you want to trade the news seriously.
     
    #6 Boko Maru, Apr 8, 2010
    Last edited: Apr 8, 2010

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