Hi there,
This is Crazy Cat writing.
On Wednesday, Jan 20th (07:00 am New York Time) we will have Canadian CPI m/m coming out. It is expected to read 0.2. Last month it read 0.4.
Please read what this indicator means and how it affects the USD/CAD by going to this link: https://www.forexpeacearmy.com/forex-forum/economic-indicator-descriptions/7508-canadian-cpi.html
The trigger for this indicator is 999. This means that if Canadian CPI m/m comes out at 999.2 or higher, USD/CAD will probably go down by 30 pips or more in the first 45 minutes of the report. If it comes out at -998.8 or less, USD/CAD will probably go up by 30 pips or more in the first 45 minutes of the report.
WHAT? A 999 trigger? What the...? Yes! That basically means a NO TRADE guaranteed! That means I am not going to enter a trade with any trigger.
WHY? Here are two reasons:
1) I never traded that report, I don't trust it, and it's crappy.
2) I guess you need a proof. Well, last month we had everything higher than expected by 0.2 - so it should be a nice trade, right? USD/CAD went down by 15 pips and then reversed. See for yourself what happened on this chart: Forex news trading currency exchange charts
I have been in this business for a long time, so please trust me on this: you don't want to trade it. But if you must, always feel free....
I highly recommend you study the entire history and charts of this report by following this link: Forex News Trading | Details and History for CAD Core CPI m/m
I hope you will not lose money on this report.
-Crazy Cat
This is Crazy Cat writing.
On Wednesday, Jan 20th (07:00 am New York Time) we will have Canadian CPI m/m coming out. It is expected to read 0.2. Last month it read 0.4.
Please read what this indicator means and how it affects the USD/CAD by going to this link: https://www.forexpeacearmy.com/forex-forum/economic-indicator-descriptions/7508-canadian-cpi.html
The trigger for this indicator is 999. This means that if Canadian CPI m/m comes out at 999.2 or higher, USD/CAD will probably go down by 30 pips or more in the first 45 minutes of the report. If it comes out at -998.8 or less, USD/CAD will probably go up by 30 pips or more in the first 45 minutes of the report.
WHAT? A 999 trigger? What the...? Yes! That basically means a NO TRADE guaranteed! That means I am not going to enter a trade with any trigger.
WHY? Here are two reasons:
1) I never traded that report, I don't trust it, and it's crappy.
2) I guess you need a proof. Well, last month we had everything higher than expected by 0.2 - so it should be a nice trade, right? USD/CAD went down by 15 pips and then reversed. See for yourself what happened on this chart: Forex news trading currency exchange charts
I have been in this business for a long time, so please trust me on this: you don't want to trade it. But if you must, always feel free....
I highly recommend you study the entire history and charts of this report by following this link: Forex News Trading | Details and History for CAD Core CPI m/m
I hope you will not lose money on this report.
-Crazy Cat
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