1. This site uses cookies. By continuing to use this site, you are agreeing to our use of cookies. Learn More.

Forex Signal (Tue, May 11, 04:30 am EST) UK Industrial Production

Discussion in 'Current Forex Trading Signals' started by Crazy Cat, May 10, 2010.

  1. Crazy Cat

    Crazy Cat Former FPA Special Consultant

    Joined:
    Sep 30, 2007
    Messages:
    752
    Likes Received:
    0
    Hi there :)

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

    Tuesday, May 11th (4:30 am New York Time) UK

    We have UK Industrial Production coming out. It is expected to read 0.3. Last month it read 1.0.

    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 1.2. This means that if UK Industrial Production comes out at 1.5 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 -0.9 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 three 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, May 10, 2010
    Lasted edited by : Sep 8, 2016
  2. Mary7777777

    Mary7777777 Private

    Joined:
    Apr 23, 2009
    Messages:
    12
    Likes Received:
    0
    Hello, Crazy Cat. Tell me please, what trading platform you use? Of course, if it is not a secret.:)
     
  3. West Coast Pips

    West Coast Pips Sergeant

    Joined:
    Sep 24, 2009
    Messages:
    132
    Likes Received:
    0
    A big deviation of +1.7 for industrial production m/m saw gbp/usd spike up a maximum of 27 pips. It hit one of my resistance levels bang on and fully reversed a few minutes later. You had to be very quick closing this trade to make some profit, especially depending on where your entry was.
     
  4. Crazy Cat

    Crazy Cat Former FPA Special Consultant

    Joined:
    Sep 30, 2007
    Messages:
    752
    Likes Received:
    0
    I actually took a profit of 20 pips. Yes, I closed it a few seconds after the signal.
     

Share This Page