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Forex Trading Signal 01/22/08

Discussion in 'Current Forex Trading Signals' started by Crazy Cat, Jan 21, 2008.

  1. Crazy Cat

    Crazy Cat Former FPA Special Consultant

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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.: 01-22-2008.swf

    Let's first review what happened on Friday.

    There was only one report that was worthy watching, the UK Retail Sales m/m. It came out -0.4 versus 0.2 expected so it was a big sell signal. If the trigger was hit, I was expecting 35 to 45 pips but it just took off, mostly because of a huge deviation. In the first few seconds it moved by 40 pips, and then it moved even more. There was almost no opportunity to enter after the spike. A lot of people were able to make money using the SNW but even with the SNW not everyone was able to get in. If you made money on this, congratulations.

    Let's better talk about Tuesday.

    1. Tuesday, January 22th, 2008 (8:30 a.m. New York Time) CANADA
    At 8:30 a.m New York time we will have Canadian Retail Sales headline coming out. It is expected to come out at 0.3, and I believe the headline number is a little more watched than the core number. Because we will have Canadian interest rate statement, that may interrupt this trade a little. Deviations of 0.3 and 0.4 are quite risky, 0.5 is a little better but because of the interest rate statement coming out later I would use 0.6 deviation on the headline retail sales. If it comes out at 0.9% or higher I would sell USD/CAD; if it comes out at -0.3% or lower, I would buy USD/ CAD. If the trigger is hit, I would expect 25 to 35 pips move in the first 30 minutes after the report. With a big deviation such as 1 or 1.2, it can easily move the market by 40 to even 70 pips or more. Recently retail sales came out, in general, lower so if you consider any pre-news trade, you may consider it towards Canadian dollar weakness. It is better chance it will come out lower than higher although I am NOT saying it will be lower for sure.

    2. Tuesday, January 22th, 2008 (9:00 a.m. New York Time) CANADA
    Then at 9.00 a.m we will have Canadian interest rate statement. Everyone is expecting them to cut the rates by 25 bp (0.25%) so if they do anything else, it is going to be a big surprise. If they left rates unchanged, it would be very strengthening for the Canadian dollar so you can sell USD/CAD and expect at least 50 pips price action. If the cut the rates by 50 bp (0.50%) to 3.75% then you can buy USD/CAD and expect at least 50 pips price action in the first 1 hour.

    3. Tuesday, January 22th, 2008 (7:30 p.m. New York Time) AUSTRALIA
    At 7:30 p.m. we will have Australian CPI coming out. Here is the problem. Last quarter it came out low deviating by 0.2; however, they just started releasing the new type of CPIs such as Trimmed Mean CPI so what happened was the headline came out low but the Trimmed Mean CPI came out high also deviating by 0.2 so we had a conflict and actually it went the other way. I would be very careful with this trade. You still want to trade 0.2 deviation but you need to make sure there is no conflict with the other CPIs; in fact, you can even trade them if you have an access to that information. The CPI q/q is expected to come out at 1.0%, and y/y is expected at 3.0. If the q/q comes out at 1.2%, that would be buy on AUD/USD. If it comes out at 0.8% or lower, it would be a sell signal on AUD/USD. Again, make sure the other CPIs deviate the same direction before you enter the trade.

    Well, 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



    The video with the signal is recorded by Sir Pipsalot.
    For your convenience, this text is written based on the video by Crazy Cat
     
    #1 Crazy Cat, Jan 21, 2008
    Lasted edited by : Aug 15, 2015
  2. penuel

    penuel Recruit

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    Please, I Wish to know.

    Sir Pipsalot,

    Please, I would like to know how to control slippage in a limit order, this is very important to me, and thanks for the knowledge.

    Best regards,

    Penuel.
     
  3. fxboss

    fxboss Recruit

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    does ur broker slip u? maybe u should consider changing him.:)





     
  4. Pharaoh

    Pharaoh Colonel

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    Use lots of duct tape.
    :D
     
  5. fxboss

    fxboss Recruit

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    ha! ha! ha! ha! ha! straight up soldier


     
  6. Sir Pipsalot

    Sir Pipsalot Former FPA Special Consultant

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    No simple answer boss. Controlling slippage is really dependent upon your broker and the conditions. Go to the messageboards for forexpeacearmy or forexfactory, or if your particular broker has its own messageboards and talk to people who use it well. If you can't find a way to get the job done, then consider switching.
     
  7. amy670

    amy670 Recruit

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    help me!

    Dear Sir
    Thank you so much for your knowledge, but I have a big problem with your signals that you post.
    I dont know realy how can I understand that whats happend! For exaple you wrote above:"At 3:00 p.m. we are going to have New Zealand Interest Rate statement. They are expected to keep the ratessteady at 8.25%. If they cut the rates, you can sell NZD/USD and look for 50 to 70 pips price action", now how can I follow this matter or how can I see it?
    Really I have a big problem with this matter or better to say I cant use your signals.
    Thank you so much.
    Best regards
     
    #7 amy670, Jan 25, 2008
    Last edited: Jan 25, 2008
  8. Tom

    Tom Recruit

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  9. OzWizard

    OzWizard Corporal Punishment

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    Duh, IF ya trade....

    .... in FUTURES with the CME then a ' limit ' order IS a " LIMIT " order!

    YOUR limit price is exactly what you will get IF...... the market actually goes to your LIMIT PRICE!!!

    "I keep asking myself why?????" :hissyfit:

    OZ in "Readin about stupid KAKASHKA is driving me to drink!"

    ..... MORE !!! :eek:oh:

    [​IMG]
    Pharaoh
    Sergeant
    Posts: 238
    Join Date: Oct 2007
    Location: Sunny Florida

    Quote:
    Originally Posted by penuel
    Please, I would like to know how to control slippage in a limit order, this is very important to me, and thanks for the knowledge.

    Use lots of duct tape.
     
  10. Sir Pipsalot

    Sir Pipsalot Former FPA Special Consultant

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    Hey Amy,
    Unfortunately, I can't teach someone news trading strategies on a message board, heh. There are lots of strategies out there from all over about how to take advantage of news price action. Technical strategies, retracements, contrarian trading, fibonnaci, support/resistance, moving averages, pivot point analysis, etc. What these signals do is try to help give you some fundamental context as to what to expect to help you do whatever it is that you do when you try to trade around the news volatility. That's why I run forex diamonds to take this type of analysis and do our best to turn it into winning trades over time. Unfortunately, it's just not as simple as buy if X and sell if Y. I hope that helps somewhat.

    -Sir Pipsalot
     

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