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Forex Signal (Tuesday December 6, 2011 – 7:30PM EDT) – AU GDP q/q

Discussion in 'Current Forex Trading Signals' started by Stavro D'Amore, Dec 5, 2011.

  1. Stavro D'Amore

    Stavro D'Amore Former FPA Special Consultant

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    Hello

    Please find attached my trade plan for AU GDP q/q

    AU GDP q/q
    Forecast 1.2%
    Previous 1.2%
    Pair to trade: AUD/USD

    Numbers we need:
    BUY AUD/USD 1.5%
    SELL AUD/USD 0.9%


    Economical Impact: High
    Typical Result: Good for Currency
    Occurrence 65 days after the month ends
    Spike Probability: Good, we can see 40 pips on initial spike

    About our Triggers:
    AU GDP q/q is forecasted to arrive at 1.2%
    We are looking for a deviation of 0.3% to LONG the AUD and a deviation of 0.3 to SHORT the AUD.
    If the numbers we get 1.5% or better I will look to enter a LONG position on AUD/USD and if we get 0.9% or worse I will go SHORT on AUD/USD.
    Should this report be triggered, we can expect to see about 40 pips on the down side and 30 pips to the upside. This trade will have a good chance of a 30% retrace on the initial spike

    What is it? And why does the market care?
    The Gross Domestic Product (GDP) is the broadest measure of economic activity and is a key indicator for the economy's health. The quarterly percent changes in GDP shows the growth rate of the economy as a whole.

    A higher than expected reading should be taken as positive/bullish for the AUD.
    A lower than expected reading should be taken as negative/bearish for the AUD.

    Method I use to trade this:
    Stavro D’Amore Trading Method

    Felix Descriptions:
    Indicator Descriptions

    Pre News trading
    Approximately 15 minutes prior to the news release I will be looking for a short term SHORT position in AUD/USD.
    I would be out of this trade 1 minute before the actual release, or to avoid any spreads that should widen.

    After Spike
    I will look for a 30% retracement in the original spike before entering a trade; I will sell half my position as soon as I hit the original high point of the first initial spike and place a SL at entry price. My TP level would be just before a resistance level or if the chart decides to form a support level, looking at a 15 minute chart time frame.

    Spike
    I do recommend spike trading as an option when there is great uncertainty in the markets; also the liquidity is very good at the moment if you are using an ECN broker.

    Please note
    Australian data is known for Latency should the spike begin and your Auto clicker has not provided a number please cancel your spike trade to avoid yourself getting caught with slippage; you will have a better chance using retracement and pre news methods.

    Historical Chart and Data for AU GDP q/q

    All the best
     
    #1 Stavro D'Amore, Dec 5, 2011
    Lasted edited by : Sep 8, 2016
  2. Louis123321

    Louis123321 Corporal

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    ANOTHER Successful / profitable trade

    Another fantastic signal. Unfortunately I was quite greedy and initiated a buy even though the triggers were not hit. Also, the spread was so high my buy was placed about 10%-20% below the high point of the trade. However after 15 min it has gone back above the high point (for a split second) and allowed me not only to close the trade, but to close it in profit.

    Following your signals is an honor, my wallet enjoys it very much. ;)

    Thanks again !!
     
  3. PipDog

    PipDog Corporal

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    Congratulations...

    But, your luck on this trade had nothing to do with Stavro's signal.
     
  4. Fxonuoha

    Fxonuoha Private, 1st Class

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    Triggers

    This is why I keep asking.....
    do the triggers need to get hit before we enter for the retracement?
    this has actually kept me on my toes.
     
  5. Stavro D'Amore

    Stavro D'Amore Former FPA Special Consultant

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    yes i don't get in unless tigers are hit or movement is big
     

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