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.: 01-29-2008.swf
Let's review first.
Not much to review: on Monday we had only U.S. New Home Sales which did hit our trigger so it was a no trade. The price action was mixed so there was no opportunity to make any pips so I am glad the trigger kept us out.
Let's now talk about Tuesday.
1. Tuesday, January 29th, 2008 (8:30 a.m. New York Time) USA
At 8:30 a.m. we are going to have U.S. Durable Good X Transportation (Core) m/m. It is expected to come out at 0.0% or 0.1% according to some other sources. Based on the current situation, I recommend trading it with 1.5 to 2.5 trigger, and I would trade EUR/USD this time. Well, let's say if it comes out at 2% or higher, it would be positive for the U.S. dollar, and I would sell EUR/USD looking for 30 to 40 pips price action in the first hour of the report. If it comes out low, at -2% or even more negative, I would then buy EUR/USD and look for 30 to 40 pips price action in the first hour. This report is "hit or miss" type. If it comes out against a strong trend, then I would not recommend taking the trade on given pair and I would look for an alternative pair such as USD/JPY or USD/CHF (don't forget to flip triggers for USD based pairs as the trigger is provided for EUR/USD) or GBP/USD. Just try to pick a pair that will let you go with the trend if the trigger is hit.
2. Tuesday, January 29th, 2008 (9:00 a.m. New York Time) USA
At 9:00 a.m we will have U.S. National HPI Composite-20 y/y coming out. It is expected to come out at -7.0% or even -7.1%. If it comes out at -7.3% or more negative, it is going to be bad enough to create some weakness, and I would sell the USD/JPY or buy EUR/USD, whatever is more appropriate at the time the news is given. On either pair I would expect 25 to 35 pips price action. If it comes out -6.7% or less negative, that would be good for the dollar so I would buy USD/JPY or sell EUR/USD, looking for 25 to 35 pips of price action as well.
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.: 01-29-2008.swf
Let's review first.
Not much to review: on Monday we had only U.S. New Home Sales which did hit our trigger so it was a no trade. The price action was mixed so there was no opportunity to make any pips so I am glad the trigger kept us out.
Let's now talk about Tuesday.
1. Tuesday, January 29th, 2008 (8:30 a.m. New York Time) USA
At 8:30 a.m. we are going to have U.S. Durable Good X Transportation (Core) m/m. It is expected to come out at 0.0% or 0.1% according to some other sources. Based on the current situation, I recommend trading it with 1.5 to 2.5 trigger, and I would trade EUR/USD this time. Well, let's say if it comes out at 2% or higher, it would be positive for the U.S. dollar, and I would sell EUR/USD looking for 30 to 40 pips price action in the first hour of the report. If it comes out low, at -2% or even more negative, I would then buy EUR/USD and look for 30 to 40 pips price action in the first hour. This report is "hit or miss" type. If it comes out against a strong trend, then I would not recommend taking the trade on given pair and I would look for an alternative pair such as USD/JPY or USD/CHF (don't forget to flip triggers for USD based pairs as the trigger is provided for EUR/USD) or GBP/USD. Just try to pick a pair that will let you go with the trend if the trigger is hit.
2. Tuesday, January 29th, 2008 (9:00 a.m. New York Time) USA
At 9:00 a.m we will have U.S. National HPI Composite-20 y/y coming out. It is expected to come out at -7.0% or even -7.1%. If it comes out at -7.3% or more negative, it is going to be bad enough to create some weakness, and I would sell the USD/JPY or buy EUR/USD, whatever is more appropriate at the time the news is given. On either pair I would expect 25 to 35 pips price action. If it comes out -6.7% or less negative, that would be good for the dollar so I would buy USD/JPY or sell EUR/USD, looking for 25 to 35 pips of price action as well.
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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