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Forex Trading Signal 01/07/09

Discussion in 'Current Forex Trading Signals' started by Crazy Cat, Jan 7, 2009.

  1. Crazy Cat

    Crazy Cat Former FPA Special Consultant

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    Hey folks,

    As usual, there's a lot of trading tidbits, market outlooks and chart analysis in the outlook video, so be sure to check it out:
    01-07-2009.swf

    Yesterday, UK Nationwide and EUR CPI Estimates had solid trades even though we chose to skip them. UK Services PMI came out high, but not high enough to satisfy our trigger, but still made a nice 30-40 pip move that was easy to make money on if you took it. Unfortunately though, US ISM Non-Manufacturing price action disappointed and despite a very strong positive deviation, it failed to give USD/JPY upside, so chances are you took a small loss if you traded it.

    Tomorrow, Wednesday 1-7-09 we have one report worth watching:

    0815 US ADP Employment Change expected at -493K, I expect a worse number to spark a USD/JPY sell-off unless people have already sold it hard based on rumors of a very bad number. The FOMC minutes earlier today hinted at very long lasting and significant jobs weakness. A higher than expected release will likely see a short term USD/JPY rise, but I think that rise will peter out and create a short opportunity as people may not trust the better number.

    If it comes out at -400K or higher USD/JPY should go up by 30-40 pips, so it's a decent buy scalp opportunity, but also look to sell the top if it stalls out as I'm expecting a strong retracement or reversal.
    If it comes out at -560K or lower USD/JPY should go down by 40-50 pips as the market already seems to be bracing for a horrible NFP number on Friday and this might be the last straw.

    Our EUR/USD short position is continuing to work nicely for us and may be setting up to add more to the short depeding on your situation. Watch the second half of the video for more info.

    TRADE LIVE WITH SIR PIPS FOR $39.00 FOR 2 WEEKS
    Sir Pipsalot has a live trading room, in which he trades these news reports. There, he shares his trades in real time, including exact entries and exits, and detailed explanation for every entry and exit. The service costs $299 per month, but we have a 14-days $39.00 trial. Go to Forex Diamonds and take advantage of this offer. This offer is for NEW customers only.

    To our success,
    Sir Pipsalot
     
  2. Mark Harding

    Mark Harding Corporal

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    Hi SP

    Thanks again for the video.

    My trading is actually going quite well since I gave up day trading, and gave back other people's money. I'm currently only looking at charts once or twice a day.

    Picked up 150 pips yesterday on a euro short after a break of hourly support that cost me 30 pips on the long I had just entered, but unfortunately also took off my AU long because it was inconsistent with my eu short, so missed out on what at the moment is another 150 pips there (except that my stop would still be below my exit point, so who knows). Currently long eu at 3586 sl 3290 looking for the moon because 1. uc reversed 2. usdcad broke tl support 3. au and nzdusd still heading up 4. gu looks to have bottmed out. I would have called this an anti-sp trade, but I see from the video that you guys were long well before me...

    All the best

    Mark
     
  3. Ali Hamdul

    Ali Hamdul Recruit

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    hi Mark,

    may I ask which time period you use in your chart analysis ?

    Thanks :)
     
  4. hobie32533

    hobie32533 Recruit

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    Video download issues

    Hi, I have hi speed internet and all other videos download without any problems. When I try to download your daily video the load bar stops somewhere between 1/3 and 1/2 way across, so I only get that portion of the video. Is there any other link I can download from?
    Thanks
    Video Pip starved
     
  5. Mark Harding

    Mark Harding Corporal

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    Daily and hourly
     

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