Forex Signal (Wed, March 24, 04:30 EST) German Manufacturing PMI

Crazy Cat

Former FPA Special Consultant
Messages
753
Hi there :)

This is Crazy Cat writing.

On Wednesday, March 24th (04:30 am New York Time) we will have German Manufacturing PMI coming out. It is expected to read 56.7. Last month it read 57.2.

I recommend staying out. I will not be trading it and the only reason I post this message is because some people ask for this report.

Please read what this indicator means and how it affects the EUR/USD by going to this link: http://www.forexpeacearmy.com/forex...scriptions/7687-german-manufacturing-pmi.html

The trigger for this indicator is 99999. This means: no trade.

I highly recommend you study the entire history and charts of this report by following this link:
Forex News Trading | Details and History for GER Manufacturing PMI

Good luck!
-Crazy Cat
 
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West Coast Pips

Sergeant
Messages
132
Crazy Cat has made it very clear not to trade this report and I agree. German Flash Manufacturing PMI rarely provides any decent deviation to make this tradable. On top of that there is another report coming out that same time, German Flash Services PMI and this can potentially cause conflict.

If you go back to Feb 19, 2010, you will see German Flash Manufacturing PMI deviated by 3.1 which could be seen as a decent triggger. However, there was no spike at all on this deviation: Forex news trading currency exchange charts

Eur/usd did go long after this release but very slowly and am sure not as a consequence of the 3.1 deviation.

DON'T trade every report that comes out. Some simply do not move the market. Stick with reports that do move the market if appropriate deviations come out. You will never see a deviation of 99 for this report either! If you still want to be awake around this time I suggest you look at safe triggers for German Ifo Business Climate at 5am EST.
 
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Paul Destro

Recruit
Messages
2
Where to

Where can I find the economic figures I tried in vain to find a website that publishes the figures as soon as they are released but could not find the GBP CPI at anouncement time last night?:embarrassed:
 

West Coast Pips

Sergeant
Messages
132
No website is going to give you the news data as soon as it comes out. The one that does come remotely close is this one: Forex Calendar @ Forex Factory. If you want to be be trading the news as soon as it comes out you need software like Secret News Weapon. Hope that helps.
 
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