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Forex Trading Signal 01/03/08

Discussion in 'Current Forex Trading Signals' started by Felix Homogratus, Jan 2, 2008.

  1. Felix Homogratus

    Felix Homogratus Commander in Chief

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    This is Sir Pips.

    If you wish to watch the video, just click on it, and then click on "play" icon. My video version is MUCH MORE detailed so I encourage you to watch it.

    Hi-res: 01-03-2008.swf

    Let's first review what happened earlier today.

    The first indicator we had was UK Manufacturing PMI. Since there was some deviation, the price moved about 30 pips but it did not hit our trigger so it was a no trade.

    Then we had U.S. ISM Manufacturing which hit a big downside trigger. It came out at 47.7 so it was the lowest reading since sometime in 2003, and it was a big buy signal. EUR/USD traded in the range of 1.4665 to 75 for quite a bit so there was plenty time to get in quite relatively close to the pre-release price. Then, it went up to 1.4750 within 90 minutes so it moved almost 90 pips from that level without much retracement at all. It was awesome trading opportunity, and I hope you made money on this. Due to a huge deviation, even USD/JPY worked very well moving 158 pips although I did not recommend you to trade that pair. GBP/USD did not react too well as pound was much weaker than euro before the report.

    Then we had U.S. FOMC Minutes. We got what we were expecting: it was dovish but there were some mixed comments there. I thought it would weaken the dollar but it did not really end up that way. It was just not clear enough to generate decent price actions.

    Tomorrow we will have two trades I will be looking at.

    1. Thursday, January 3rd, 2008 (8:15 a.m. New York Time) USA
    At 8:15 a.m. New York time we will have U.S. ADP Employment Change. That is expected to come out at 47.5 K, and I see 33K expected from another source so that numbers may change as we are approaching to the report. Last month it came out at 189K, and it was a great trade. To be safe, a reading of -20K or more negative would be weakening the U.S. dollar in general. A reading of 100K or higher would be strengthening the U.S. dollar. I would trade this on USD/JPY. I would look to buy USD/JPY on reading of 100K or higher, and sell USD/JPY on a reading of -20K or more negative.

    2. Thursday, January 3rd, 2008 (8:30 a.m. New York Time) USA
    Then at 8:30 a.m. New York time we will have U.S. Unemployment Claims which is expected to come out at 345K. It is a weekly indicator and recently more people are focused on it. If it comes out at 360K or higher, that should be weakening for the dollar, and it would constitute a sell signal on USD/JPY, good for 15 to 40 pips. If it comes out at 330K or lower, it would be strengthening the U.S. dollar, and it would be a buy signal on USD/JPY, good for 15 to 40 pips.

    That would be all for tomorrow.

    If news trading seems to be very interesting for you, then I suggest you to go to Forex Diamonds - News Trading Education and read everything about this service. It is a live trading service I provide with Felix, and I will be able to show you exactly what I am doing as I am leading hundreds of traders just like you every day with very clear strategies on when to get in and get out. As people are following my trades, they are learning how to trade the news, feel comfortable with trading and make good profits. We offer 21 days free trial so you can just try it and see how you like it.

    Thank you very much, and good luck with your trades.

    To Our Success!
    -Sir Pipsalot
     
  2. shoboy

    shoboy Recruit

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    felix has good to mehappy new
     
  3. Patso

    Patso Recruit

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    Lets see the results of the "Signals".....

    Hey Felix,

    Not to question your trading "philosophy," but, if you could provide us with some "proof" on the overall results of your advice, that would be more "convincing" as to whether it's truly "useful" or not.

    Thanks
     
  4. bimbs

    bimbs Recruit

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    Bimbsyo

    you're the man.i Find it hard to make a lose since i registered with you.like today i made 425 on USD/JPY i took a long position.L8r yo;)
     

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