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Forex Signal (Wednesday August 3, 2011 - 10:00am NY Time EDT) - US ISM PMI

Discussion in 'Current Forex Trading Signals' started by Stavro D'Amore, Aug 2, 2011.

  1. Stavro D'Amore

    Stavro D'Amore Former FPA Special Consultant

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    US ISM Non-Manufacturing PMI
    Forecast 53.9
    Previous 53.3
    Pair to trade: USD/JPY and EUR/USD
    Triggers we need: 56.0 BUY USDJPY / 51.0 BUY EURUSD


    Economical Impact: High
    Typical Result: Actual forecast is good for the currency
    Occurrence: Released monthly, on the third business day after the month ends

    About our Triggers:
    With the current forecast is above is above the 53.9 level at our trigger of 56.0 This release indicates an expansion in the services sector where 50 is the medium point for the PMI. We'll be using deviation of 2.1 points in order to BUY or SELL USD. In the event that 56.0 reached, we could see some USD strength and JPY weakness. Therefore you could BUY USD/JPY; however, if the opposite is true and a figure of 51.0 is released, expect to see stronger EUR and possibly another strong sentiment for the USD.

    If our tradable releases are reached, there is a good expectation that the market will move 60-70 pips within the next 2 hours on both USD/JPY and EUR/USD.

    Why do we care?
    It's a leading indicator of economic health and businesses both global and local businesses will react quickly to market conditions. A Higher deviation means industry expansion, lower deviations indicates a significant contraction in the economy. It is derived by a survey of about 400 purchasing managers which asks respondents to rate the relative level of business conditions including employment, production, new orders, prices, supplier deliveries and inventories

    Method to trade this: Stavro D’Amore Trading Method
    Please keep in mind possibility of Revision number before entering any of these strategies.

    Prior to the release (2-3 mins) I will be looking for a short term long position in EUR/USD and I will get out of this trade 30 seconds before the actual release or any spreads that should widen.

    I'd recommend spike trading as the best option when there is great uncertainty in the markets; also the liquidity is very good at the moment if you’re using an ECN broker.

    I will look for a 50% retracemeant 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 level looking at a 15 min time frame. If my triggers are hit I will defiantly try to run this for over 120 minutes depending on current market volume, to do this I will look for a choppy volume (if you’re using MT4 you would look for the volume bar tab).

    Historical Chart and Data for US ISM Non-Manufacturing PMI

    What is US ISM Non-Manufacturing PMI?
    Defined from (wikipedia) The Non-Manufacturing ISM Report on Business is a purchasing survey of the United States service economy published by the Institute for Supply Management since June 1998. Its results are a popular economic indicator and forecaster.

    All the best

    Stavro D’Amore
     
    #1 Stavro D'Amore, Aug 2, 2011
    Lasted edited by : Sep 8, 2016
  2. alvin050

    alvin050 Private, 1st Class

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    same phrases

    Stavro, if I compare your analysis of this news and Henry Liu's analysis on his own website, certain sections are startlingly similar. I am not referring to information on deviations or figures. I am referring to the writing style, and sometimes even exact same phrases and expressions are used. How can this be if they are written by 2 separate people?
     
  3. yurps

    yurps Private, 1st Class

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    Mr. X

    Lol Alvin, that could be the case, the signals look very similar to Henry Liu's signals.

    Henry Liu used to be called Mr. X and after all the terrible losses he has caused to customers who have paid Henry Lui for the privilage of having him loose money for them. I am sure Henry needs to create a new identity for himself
    so he can sell more bullsh*t forex scam services.

    He is great at marketing, all his ad's are glossy and tell the masses on the internet exactly what they want to hear. "Make money while you sleep and enjoy your family and life, I will do all the work for you" "Easy money, no work"
    etc etc. Any honest service will also tell you that learning to trade forex might actually require some time and effort, but people usually don't want to spend their money on someone trying to be honest.

    They want to throw their money at a dream, and Henry knows this and this is what he does best, spinning lies like a dream catcher. And selling his bogus services and EAs that don't work. He certainly cannot be making much money with trading. He will run a bunch of EAs and maybe get a few months of profit which he can put on his site as a performance example.

    Chinese people also are known to change their name alot...for instance 1 european country had only 1 recorded death of a chinese person in a whole year. This is because when a chinese person dies they reuse the pass the passport onto another chinese person, this is why there are so many John Lee's in the world.
     
  4. juangecko

    juangecko Private

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    Why selling before report?
     
  5. Surf67

    Surf67 Recruit

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    "Choppy Volume"?




    Stavro,

    A couple of (last-minute) questions:
    1) What do you consider to be "choppy volume"? Do you have certain parameters you use to determine "choppy"?
    2) If you are going to run the trade for over 120 minutes "depending on current market volume", what are you looking for in the volume...an large increase in volume, a decrease in volume?

    Thanks.
     
  6. alvin050

    alvin050 Private, 1st Class

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    yurps, indeed. Hence I am very interested in Stavro's reply to my question.
     
  7. Stavro D'Amore

    Stavro D'Amore Former FPA Special Consultant

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    Guys,

    I can ensure you I’m a different person, I dont know Henry, never met him, never followed him, i have heard of him being involved in Forex but thats as far as my relationship goes.

    You can even do your own research and Goggle me. This service i offer is simply out of good will to the FPA.

    Regards

    Stavro D'Amore
     
  8. Stavro D'Amore

    Stavro D'Amore Former FPA Special Consultant

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    Guys,

    I can ensure you I’m a different person, I dont know Henry, never met him, never followed him, i have heard of him being involved in Forex but thats as far as my relationship goes.

    You can even do your own research and Goggle me. This service i offer is simply out of good will to the FPA.

    Regards

    Stavro D'Amore
     
  9. Stavro D'Amore

    Stavro D'Amore Former FPA Special Consultant

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    I look for an inconstancy in volume not a flat volume bars.
     
  10. Stavro D'Amore

    Stavro D'Amore Former FPA Special Consultant

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    Sorry to disapoint you im not Henry! :)
    Much better looking LOL :)
    My name is Stavro D'Amore and im here to assist the you guys and FPA provide free triggers for news trading and signals.

    I can ensure you I’m a different person, I dont know Henry, never met him, never followed him, i have heard of him being involved in Forex but thats as far as my relationship goes.

    You can even do your own research and Goggle me. This service i offer is simply out of good will to the FPA.

    Regards

    Stavro D'Amore
     

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