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Forex Signal (Tuesday February 14, 2012 – 8:30am EDT) – US Core Retail Sales

Discussion in 'Current Forex Trading Signals' started by Stavro D'Amore, Feb 13, 2012.

  1. Stavro D'Amore

    Stavro D'Amore Former FPA Special Consultant

    Joined:
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    Hello

    Please see my US core retail sales trade plan.

    US CORE Retail Sales
    Forecast 1.1%
    Previous -0.2%
    Pair to trade: USD/JPY
    Estimated Pips: 30 pips on initial spike

    The numbers we will look for:
    BUY USD/JPY at 1.6%
    SELL USD/JPY at 0.6%

    Economical Impact: High (will bring strong volatility)
    Typical Result: Good for currency
    Occurrence: Released monthly, about 20 days after the month ends


    About our Triggers:
    We will be looking for a deviation of 0.5 % to BUY USD/JPY and -0.5 to SELL USD/JPY.
    If our deviation is hit, there is a strong possibility that the market will move 30 pips on spike immediately; there is a good chance that we will get a 30% retracement before entering if we miss the spike.

    What is it? Why does the market care?
    Core Retail Sales measures the change in the total value of sales at the retail level in the U.S excluding automobiles. It is an important indicator of consumer spending and is also considered as a pace indicator for the U.S. economy.

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

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

    Pre News
    There is no pre news for this release

    Spike Trading
    I do recommend spike trading as an option if you have an Auto clicker.
    Please use limit orders or bounds set to 15 pip entry

    After Spike
    I will look for a 20% retracement in the original spike before entering a trade; I will close 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. I expect to be in this trade for a total of 20 mins.

    Historical Chart and Data US CORE Retail Sales

    All the best

    Stavro D’Amore
     

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