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Forex Trading Signal 01/09/09

Discussion in 'Current Forex Trading Signals' started by Crazy Cat, Jan 9, 2009.

  1. Crazy Cat

    Crazy Cat Former FPA Special Consultant

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    Hello everyone,

    Here is the video:
    01-09-2009.swf

    Tomorrow's a big day, and as usual I talk a lot more in depth about the scenarios in the video, so take a look. Yesterday's UK Interest rates came out as expected, so no trade there. Initial Jobless Claims out of the US gave us a fakeout and a loser unfortunately as there was a conflict with the continuing claims number coming out the other way.

    Oh, by the way, U.S. porno "industry" is seeking 5 B bailout from the U.S. congress....
    Channel 4 - News - Hard times for US porn industry
    Porn Industry Moguls Ask Congress For Bail Out

    This is the best: "It is time for congress to rejuvenate the sexual appetite of America. The only way they can do this is by supporting the adult industry and doing it quickly." and "Congress seems willing to help shore up our nation's most important businesses."

    I suspect this is just a clever provocation.

    Anyway, let's talk about Friday.

    0430 UK PPI and Industrial Production. You can't just trade one number here as they're all somewhat important. If they're generally all coming out high that should be GBP/USD strengthening for 40-50 pips and if they're all coming in low that should be weakening for 40-50 pips of downside. A big deviation of +/- 2.0% on PPI Input m/m or +/- 0.5% or 1% on Industrial Production should give the trade a nice boost.

    0700 CAD Employment expected at -20K. A 20K trigger should suffice, but expect stiffer retracements on smaller deviations (20-40K), and better price actions at larger deviations (40K+)
    If it comes out at 0 or positive, that should be a sell on USD/CAD good for 40+ pips of downside
    If it comes out at -40K or lower, that should send USD/CAD up 40+ pips for a buy

    0830 US Nonfarm Payrolls expected at -525K. I'm worried about a potential whipsaw on this due to rumor based order flows taking profits after the news. My recommendation is to trade the volatility on the USD/JPY, not necessarily the overall direction. On the one hand, people are expecting a horrible number and are already short, so there could be profit taking that actually sends the USD/JPY up ultimately like we saw last month. But also, we have not seen back to back 500K job losses in the US since 1940, so this report could be the jolt of cold, hard reality that the market really needs to resume a selloff. My plan is actually to trade against the number on the USD/JPY expecting the short term spike to retrace up to prerelease, and that isn't really dependent upon trigger levels.

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    #1 Crazy Cat, Jan 9, 2009
    Last edited: Jan 9, 2009
  2. Mark Harding

    Mark Harding Corporal

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    not sitting on hands

    Thanks SP.

    I should be sitting on my hands as I'm finding the charts to be conflicted, but I always find it hard to do that, so I'm long eu at 3721 sl 3620, an hourly chart trade, hoping it can break up past the 3830 area and give me more - I guess this is an anti-sp trade !

    dem get sense pass dis one wey u dey do...
     
  3. omo9ja

    omo9ja Private, 1st Class

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    My Dearest Mark Harding, if what u mean by eu is eur/usd i hope you are out of that trade else you are sitting on the looooong thing like they say in nigeria.
     
    #3 omo9ja, Jan 9, 2009
    Last edited: Jan 9, 2009
  4. Arowosaye Vincent

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    Hi

    You guys are doing very good work in forex peace army.
    Keep it up and more power to your elbow.

    To my 9ja person that ogbonge yan wey you wan yan so, that beta tori wey go helep person do am well 4 trade, make una yan am for my mail drsayesayo we de yahoo.com.
     
  5. mathez07

    mathez07 Recruit

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    bros una weldone abeg dat ogobnge tori wey u wan yan us about our trade abeg u fit helep me with am 4 my mail wey be cybermailmathew wey dey yahoo.co.uk. tanx bro
     

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