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Forex Signal (Wednesday December 21, 2011 NY TIME 4:30am EDT NY TIME) – UK MPC Meeting Minutes

Discussion in 'Current Forex Trading Signals' started by Stavro D'Amore, Dec 20, 2011.

  1. Stavro D'Amore

    Stavro D'Amore Former FPA Special Consultant

    Jul 29, 2011
    Likes Received:

    Please see my trade plan below.

    UK MPC Meeting Minutes
    Forecast: 0-0-9
    Previous: 0-0-9
    Pair to trade: GBP/USD

    The numbers we will look for:
    BUY GBP/USD if we get 2 Votes for hike
    SELL GBP/USD if we get 2 Votes for quantities easing

    Economical Impact: High (will bring strong volatility to GBP pairs)
    Typical Result: More hawkish than expected is good for currency
    Occurrence: Released monthly, 13 days after the Official Bank Rate is announced

    About our Triggers:
    The breakdown of the MPC member’s interest rate votes tends to be the most important part of the minutes. The vote is reported as X-X-X format, we are currently on 0-0-9 forecast and previous was also 0-0-9.
    The first number is how many voted to increase rates.
    The second number is how many voted for a rate reduction
    The third number is how many voted to hold rates.
    If we get 2 votes for an increase (which is very unlikely) we will immediately BUY GBP/USD. If we get 2 votes for quantities easing we will sell GBP/USD. Should the vote remain the same, I will not enter this trade on any retracement due to uncertainty and other comments that could have been circulated during the MPC meeting.

    What is it? Why does the market care?
    The Bank of England (BOE) Monetary Policy Committee (MPC) Meeting Minutes are a detailed record of the committee's interest rate meeting held about two weeks earlier.
    It gives a picture of economic conditions in the UK.
    It also records the votes of the individual members of the Committee
    If the BoE is hawkish about the inflationary outlook; it should be taken as positive/bullish for the GBP.

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

    Felix Trading Description
    Indicator description

    To trade this release you will need direct news feed our economic news feed.

    Approximately 5 minutes prior to the news release I will be looking for a short term SHORT position using GBP/USD pair. I would be out of this SHORT trade 1 minute before the actual release, or to avoid any spreads that should widen.

    I do NOT recommend spike trading as an option for this release.

    Historical Chart and MPC Meeting Minutes

    All the best

    Stavro D’Amore
    #1 Stavro D'Amore, Dec 20, 2011
    Lasted edited by : Sep 8, 2016
  2. farisjunior

    farisjunior Recruit

    Apr 6, 2010
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    where to get the news releases

    Thank you very much for the post, but my problem is that i find hard to locate where to get the accurate news release at the point of release. pls assist in directing me:confused:
  3. Sazu

    Sazu Corporal

    Jan 12, 2011
    Likes Received:
    Merry Christmas Stavro,

    Can you tell us where to get the news feeds from so that we are better armed for your method of trading?

  4. Sazu

    Sazu Corporal

    Jan 12, 2011
    Likes Received:
    FOLLOW UP FOR NEWS FEEDS. To anyone interested RTTNEWS.com provides realtime feeds for economic news, it also gives you a 30 day free trial. Download the desktop application and the information will flow, NOTE the application only works with Microsoft Windows platform, Apple users are out of luck.

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