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.: 01-28-2008.swf
I am sorry to send this message so late but there was so much other stuff to do. I apologize.
Let's first talk about past Thursday and Friday.
On Thursday everything came out close to expectations so we had no trades only.
On Friday we had only one trade we were looking for, and that was Canadian Core CPI. It was expected to come out at -0.1%, and it came out -0.3% giving us a buy signal on the USD/CAD. The pre-release price was around of 1.0057 so we saw about 50 pips price action in a first few minutes. Initially it spiked up to 85-90, then it stayed there for less than 1 minute, and then it moved to around 1.0110. Then it retraced, and moved up again, and then retraced completely. As things were very bearish on the USD/JPY, it was hard to keep the USD/CAD high. Because of that, once people got a better price they were willing to sell rather than buy.
Tomorrow there is only one trade that I think is worthy watching and possibly trading.
1. Monday, January 28th, 2008 (10:00 a.m. New York Time) USA
At 10:00 a.m we will have U.S. New Home Sales coming out. It is expected to come out at 645K. Last month it came out at 647 K so it was a very shocking negative number. This time I would trade it on the USD/JPY. If it comes out at 700 K or higher, then I think it would constitute a good buy signal on the USD/JPY. If it comes out at 550 K or lower so a very large trigger on a negative side, then I think it would be enough to put a sell trade on USD/JPY and look for 30 to 40 pips of movement, if not more. The reason why I set up much bigger trigger on the lower side is because the negative news on housing is largely priced in so it is not shocking to the market any more. Be very careful on this one, you really need to have a shocking number if you want to sell USD/JPY.
That's all for today.
If news trading seems to be very interesting for you, then I suggest you to go to www.forexdiamonds.com 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.: 01-28-2008.swf
I am sorry to send this message so late but there was so much other stuff to do. I apologize.
Let's first talk about past Thursday and Friday.
On Thursday everything came out close to expectations so we had no trades only.
On Friday we had only one trade we were looking for, and that was Canadian Core CPI. It was expected to come out at -0.1%, and it came out -0.3% giving us a buy signal on the USD/CAD. The pre-release price was around of 1.0057 so we saw about 50 pips price action in a first few minutes. Initially it spiked up to 85-90, then it stayed there for less than 1 minute, and then it moved to around 1.0110. Then it retraced, and moved up again, and then retraced completely. As things were very bearish on the USD/JPY, it was hard to keep the USD/CAD high. Because of that, once people got a better price they were willing to sell rather than buy.
Tomorrow there is only one trade that I think is worthy watching and possibly trading.
1. Monday, January 28th, 2008 (10:00 a.m. New York Time) USA
At 10:00 a.m we will have U.S. New Home Sales coming out. It is expected to come out at 645K. Last month it came out at 647 K so it was a very shocking negative number. This time I would trade it on the USD/JPY. If it comes out at 700 K or higher, then I think it would constitute a good buy signal on the USD/JPY. If it comes out at 550 K or lower so a very large trigger on a negative side, then I think it would be enough to put a sell trade on USD/JPY and look for 30 to 40 pips of movement, if not more. The reason why I set up much bigger trigger on the lower side is because the negative news on housing is largely priced in so it is not shocking to the market any more. Be very careful on this one, you really need to have a shocking number if you want to sell USD/JPY.
That's all for today.
If news trading seems to be very interesting for you, then I suggest you to go to www.forexdiamonds.com 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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