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.
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
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.
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
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