Hey folks,
Here is the video:
02-12-2009.swf
0430 UK Claimant Count Change came in a bit lower (better) and worked as I expected to PERFECTION if you watched the video and played my strategy for it. Again, I was expecting the GBP to be weak and under a lot of pressure with a general selloff the session heading into the number which happened, AND I was expecting anything that wasn't horrible to incite a short covering rally after the news and that also happened good for 100 pips in minutes. I hope you got a piece of that because it looked great.
0530 UK BoE Inflation Report - I neglected to mention this one yesterday because there's only so much you can preview for a text type release like this, but it's one of our specialties to do live in the Diamonds room. This time was no exception as a very clearly bearish tone on all fronts prompted a very large selloff that I think will continue to drag the GBP lower for some time to come, so look for selling opportunities on different GBP pairs. Watch the video for more detail on this.
1930 AU Employment Change - A borderline positive deviation of 19.2K higher than expected prompted a surprisingly large rally on AUD/USD.
For tomorrow, 2-12:
0830 US Retail Sales Ex Autos - (-0.4% expected) - This report usually provides a predictable whipsaw and your best bet is to trade against it after it spikes; however, I would not do that with the upside if it comes out higher than expected as it may hold on longer like some other recent trades have done on positive surprises.
If it comes out at 0.5% or higher, a short term buy on USD/JPY for 30 pips or medium term retracement trade on EUR/JPY is the best way to go.
If it comes out at -2.0% or lower, a short term sell on USD/JPY for 30 pips should work, or try trading the reversal after the down move expecting a retracement to prerelease or a bit beyond.
1645 NZ Retail Sales (-0.7% expected) Again, be a little more generous on the upside for a short term trade, and make sure the Quarterly Retail Sales Ex Inflation (-0.4% expected) comes out in the same direction to have faith in the trade.
If montly Retail Sales comes out 0.0% or higher AND the quarterly number comes out higher than -0.4%, NZD/USD should go up by 30-40 pips or more.
If monthly Retail Sales comes out -1.7% or lower AND the quarterly number comes out lower than -0.4%, NZD/USD should go down by 30 pips or more, but the market may not pay as much attention to a sell trigger here.
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:
02-12-2009.swf
0430 UK Claimant Count Change came in a bit lower (better) and worked as I expected to PERFECTION if you watched the video and played my strategy for it. Again, I was expecting the GBP to be weak and under a lot of pressure with a general selloff the session heading into the number which happened, AND I was expecting anything that wasn't horrible to incite a short covering rally after the news and that also happened good for 100 pips in minutes. I hope you got a piece of that because it looked great.
0530 UK BoE Inflation Report - I neglected to mention this one yesterday because there's only so much you can preview for a text type release like this, but it's one of our specialties to do live in the Diamonds room. This time was no exception as a very clearly bearish tone on all fronts prompted a very large selloff that I think will continue to drag the GBP lower for some time to come, so look for selling opportunities on different GBP pairs. Watch the video for more detail on this.
1930 AU Employment Change - A borderline positive deviation of 19.2K higher than expected prompted a surprisingly large rally on AUD/USD.
For tomorrow, 2-12:
0830 US Retail Sales Ex Autos - (-0.4% expected) - This report usually provides a predictable whipsaw and your best bet is to trade against it after it spikes; however, I would not do that with the upside if it comes out higher than expected as it may hold on longer like some other recent trades have done on positive surprises.
If it comes out at 0.5% or higher, a short term buy on USD/JPY for 30 pips or medium term retracement trade on EUR/JPY is the best way to go.
If it comes out at -2.0% or lower, a short term sell on USD/JPY for 30 pips should work, or try trading the reversal after the down move expecting a retracement to prerelease or a bit beyond.
1645 NZ Retail Sales (-0.7% expected) Again, be a little more generous on the upside for a short term trade, and make sure the Quarterly Retail Sales Ex Inflation (-0.4% expected) comes out in the same direction to have faith in the trade.
If montly Retail Sales comes out 0.0% or higher AND the quarterly number comes out higher than -0.4%, NZD/USD should go up by 30-40 pips or more.
If monthly Retail Sales comes out -1.7% or lower AND the quarterly number comes out lower than -0.4%, NZD/USD should go down by 30 pips or more, but the market may not pay as much attention to a sell trigger here.
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
