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

Forex Signal (Tuesday August 9, 2011 - 8:15am EDT NY Time EDT) - CA Housing Starts

Discussion in 'Current Forex Trading Signals' started by Stavro D'Amore, Aug 8, 2011.

  1. Stavro D'Amore

    Stavro D'Amore Former FPA Special Consultant

    Joined:
    Jul 29, 2011
    Messages:
    547
    Likes Received:
    1
    CA Housing Starts
    Forecast 193K
    Previous 201K
    Pair to trade: USD/CAD
    The triggers we need: BUY 213 SELL 173


    Economical Impact: Medium to High
    Typical Result: The actual forecast is good for the currency
    Occurrence: Monthly, about 9 days after the month ends

    About our Triggers:
    I like to trade this report / sentiment as I usually get a good fill as there are not many traders that trade this release; therefore if you are using an ECN broker and have tight entry levels, you should get a good fill and make a few pips. This news is tradable with a minimum deviation of 20 for a BUY and -20 for a SELL, which is the difference between the forecast and the actual release. Our triggers are conservative and this will ensure a good fill.

    Why do we care? And what is it?

    This is a leading indicator of economic health because building construction produces a wide-reaching ripple effect, which is the first sign of a dismal or poor performing economy. Example: jobs are created for the construction workers, subcontractors and inspectors are hired, and various construction services are purchased by the builder. While this is monthly data, it is reported in an annualized format (monthly figure over 12 months). Market impact tends to vary and is occasionally quite hefty.

    Method to trade this: Stavro D’Amore Trading Method
    I would recommend spike trading as the best option. Please have a minimal slippage of 5 pips on this release as if triggered, we could see a 15 pip spike or slightly more.

    Should you not get a spike trade, I will look for a 30% retracement in the original spike before entering a trade. I will sell all of my positions as soon as I hit the original high point of the first initial spike and place a SL at my entry price. My TP level would be 5 pips more than the original high.

    Historical Chart and Data for CA Housing Starts m/m



    All the best

    Stavro D’Amore
     
    #1 Stavro D'Amore, Aug 8, 2011
    Lasted edited by : Sep 8, 2016
  2. Aldo Colombo

    Aldo Colombo Corporal

    Joined:
    Jul 6, 2011
    Messages:
    107
    Likes Received:
    3
    Eurusd

    Is it ok? i.e. trading EURUSD for a CAD based news.
     
  3. Stavro D'Amore

    Stavro D'Amore Former FPA Special Consultant

    Joined:
    Jul 29, 2011
    Messages:
    547
    Likes Received:
    1
    Thnx Its has been amended to USD/CAD this what happens when you write a dozen reports! LOL :)
     
  4. Stavro D'Amore

    Stavro D'Amore Former FPA Special Consultant

    Joined:
    Jul 29, 2011
    Messages:
    547
    Likes Received:
    1
    I have amended you can also trade EUR/CAD it correlates the same as USD/CAD some times its better to trade EUR/CAD on these releases.;)
     
  5. church

    church Recruit

    Joined:
    Jul 20, 2011
    Messages:
    15
    Likes Received:
    0
    but why

    CA Housing Starts
    Forecast 193K
    Previous 201K
    Pair to trade: USD/CAD
    The triggers we need: BUY 213 SELL 173

    This is confusing man sadvo are sure u are a trader

    this should read SELL213BUY173 please correct yourself
     
  6. church

    church Recruit

    Joined:
    Jul 20, 2011
    Messages:
    15
    Likes Received:
    0
    mistake

    analyse very well before u send signal
     
  7. drbarney2

    drbarney2 Private

    Joined:
    Oct 16, 2009
    Messages:
    17
    Likes Received:
    0
    Just a quick thank you!

    Hi Stavro

    Just a quick reply to say I really like your analysis. The best I've seen in many years on FPA. Although the others were good you are GREAT!
     
  8. Stavro D'Amore

    Stavro D'Amore Former FPA Special Consultant

    Joined:
    Jul 29, 2011
    Messages:
    547
    Likes Received:
    1
    Thanks :) means a lot to me to be able to help
     

Share This Page