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Forex Signal (Wednesday August 4, 2011 - 8:30am NY Time EDT) - EU ECB Press Conferenc

Discussion in 'Current Forex Trading Signals' started by Stavro D'Amore, Aug 3, 2011.

  1. Stavro D'Amore

    Stavro D'Amore Former FPA Special Consultant

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    EU ECB Press Conference
    Forecast: N/A
    Previous: N/A
    Pair to trade: EUR/USD
    Verbal Announcement
    Triggers we need: (Please Method to trade this bellow)


    Economical Impact: High
    Typical Result: Mixed, usually dovish comments
    Occurrence: Scheduled monthly, about 45 minutes after the ECB Rate decision.

    About our Triggers:
    The press conference is about an hour long and has two parts. First part, a statement is read and second part is open to press questions. Questions often lead to answers that create heavy market volatility.

    Considering that the EU is facing a debt crisis, the conference will be quite interesting as to what will actually happen, if there is a reaction.

    Why do we care?
    This is the primary method the ECB uses to communicate with investors regarding monetary policy. It covers in detail the factors that affected the most recent interest rate and other policy decisions, such as the overall economic outlook and inflation. Most importantly, it provides clues regarding future monetary policy.

    Method to trade this
    : Stavro D’Amore Trading Method
    During the press conference, we will look for dovish and or bullish terminology / sentences.

    I usually have a live news feed to read/listen to comments prior to trading any comments. The trick I notice is when the market reacts, the spread will widen and head towards a moderate pace momentum. I usually BUY or SELL in this price action. I always go with the same way it is trending (Example a bullish trend I would BUY and a dovish trend I would SELL). I enter with a 15 pip SL and have a TP of 25 pips, if I see that the momentum is strong I would sell half of my position at the TP level of 25 pips and let the remaining of my position run.

    What is the ECB Press conference?
    This is a meeting with questions and answers during a press conference with the ECB president and Vice president.

    All the best

    Stavro D’Amore
     
  2. Simbasimba

    Simbasimba Recruit

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    hi, may i know which time duration chart is most suitable for this trade.thanks
     
  3. vpj

    vpj Recruit

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    Hallo Stavro;

    may I ask you where do you watch these press conferences? I mean which feed do you use?

    Many thanks for the answer

    vitvs
     

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