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.: 01-17-2008.swf
Let's first review what happened earlier today.
At 4:30 a.m. we had U.K. Average Earnings with bonus. We were going to buy on 4.1 number. It came out at 4.0, and it was not really tradable as we had only 20 pips in the first 15 minutes. It was a no trade.
At 8:30 a.m. we had U.S. Core CPI which came out exactly as expected so it was a no trade.
The TIC report came out at 90 so it was quite decent trigger but it did not hit our trigger anyway. We did not see any good price action either. However, after a few minutes we saw some price action. Although it did not hit our trigger, it traded up about 30 pips on USD/JPY before it retraced at all.
Then we had New Zealand CPI. It hit our upper trigger but the move was very short lived. It spiked up about 30 pips, and then it retraced and went the other way. I don't think anybody was able to make money on this trade unless someone used the Secret News Weapon and exited the trade immediately. Other than that, it was a failure.
Then we had Australian Employment Change. It came out almost exactly as expected, and the unemployment rate came out a little bit better but still not enough to enter any trade. No trade here.
Let's now talk about tomorrow.
1. Thursday, January 17th, 2008 (8:30 a.m. New York Time) USA
At 8:30 a.m. we will have U.S. Housing Starts. It is expected to come out at 1.15 M (1150 K). Out of all housing indicators this indicator is the most powerful one. I think the lower number is kind of priced in since people are expecting lower numbers so I would be a little bit more conservative on the sell and a little more aggressive on the buy signal. If it comes out at 1.2 M (1200 K) or higher, that should be a good buy signal on USD/JPY, looking for about 30 to 40 pips or more in the first hour of the report. If it comes out at 1.05 M (1050 K) or lower, I think that would signal much more negativity than expected and it would be a good signal on sell, and I would look for 30 to 40 pips or more on the USD/JPY.
2. Thursday, January 17th, 2008 (10:00 a.m. New York Time) USA
At 10 a.m. we will have Bernanke speaking. It is something you can be aware of. It is hard to say what may surprise the market so I don't recommend trading his speech.
3. Thursday, January 17th, 2008 (4:45 p.m. New York Time) NEW ZEALAND
At 4:45 p.m we will have New Zealand Retail Sales coming out. I would be very careful because it is right before the 5 p.m. New York close, and I think it is one of the reasons the New Zealand trade did not work today. Because of that, I would trade a little bit more conservative trigger than usually. Normally 0.4 to 0.5 trigger would be good enough but we recently had 0.7 trigger at 4:45 p.m. and the move was quite weak: about 25 pips. Let's play save here so I would use 0.8 trigger. If it comes out at 1.7% or higher, it would be a buy signal on New Zealand dollar, looking for 30 to 40 pips or more in the first hour of the report. If it comes out at 0.1% or lower, it would be a sell signal on New Zealand dollar causing 30 to 40 pips move in the first hour of the report.
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
The video with the signal is recorded by Sir Pipsalot.
For your convenience, this text is written based on the video by Crazy Cat
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.: 01-17-2008.swf
Let's first review what happened earlier today.
At 4:30 a.m. we had U.K. Average Earnings with bonus. We were going to buy on 4.1 number. It came out at 4.0, and it was not really tradable as we had only 20 pips in the first 15 minutes. It was a no trade.
At 8:30 a.m. we had U.S. Core CPI which came out exactly as expected so it was a no trade.
The TIC report came out at 90 so it was quite decent trigger but it did not hit our trigger anyway. We did not see any good price action either. However, after a few minutes we saw some price action. Although it did not hit our trigger, it traded up about 30 pips on USD/JPY before it retraced at all.
Then we had New Zealand CPI. It hit our upper trigger but the move was very short lived. It spiked up about 30 pips, and then it retraced and went the other way. I don't think anybody was able to make money on this trade unless someone used the Secret News Weapon and exited the trade immediately. Other than that, it was a failure.
Then we had Australian Employment Change. It came out almost exactly as expected, and the unemployment rate came out a little bit better but still not enough to enter any trade. No trade here.
Let's now talk about tomorrow.
1. Thursday, January 17th, 2008 (8:30 a.m. New York Time) USA
At 8:30 a.m. we will have U.S. Housing Starts. It is expected to come out at 1.15 M (1150 K). Out of all housing indicators this indicator is the most powerful one. I think the lower number is kind of priced in since people are expecting lower numbers so I would be a little bit more conservative on the sell and a little more aggressive on the buy signal. If it comes out at 1.2 M (1200 K) or higher, that should be a good buy signal on USD/JPY, looking for about 30 to 40 pips or more in the first hour of the report. If it comes out at 1.05 M (1050 K) or lower, I think that would signal much more negativity than expected and it would be a good signal on sell, and I would look for 30 to 40 pips or more on the USD/JPY.
2. Thursday, January 17th, 2008 (10:00 a.m. New York Time) USA
At 10 a.m. we will have Bernanke speaking. It is something you can be aware of. It is hard to say what may surprise the market so I don't recommend trading his speech.
3. Thursday, January 17th, 2008 (4:45 p.m. New York Time) NEW ZEALAND
At 4:45 p.m we will have New Zealand Retail Sales coming out. I would be very careful because it is right before the 5 p.m. New York close, and I think it is one of the reasons the New Zealand trade did not work today. Because of that, I would trade a little bit more conservative trigger than usually. Normally 0.4 to 0.5 trigger would be good enough but we recently had 0.7 trigger at 4:45 p.m. and the move was quite weak: about 25 pips. Let's play save here so I would use 0.8 trigger. If it comes out at 1.7% or higher, it would be a buy signal on New Zealand dollar, looking for 30 to 40 pips or more in the first hour of the report. If it comes out at 0.1% or lower, it would be a sell signal on New Zealand dollar causing 30 to 40 pips move in the first hour of the report.
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
The video with the signal is recorded by Sir Pipsalot.
For your convenience, this text is written based on the video by Crazy Cat
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