Forex Trading Signal 02/20/08

Crazy Cat

Former FPA Special Consultant
Hi my dear Trader :)

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.: 02-20-2008.swf

Let's first review what happened on Monday.

We got a buy signal on EUR/SEK and it moved about 370 pips in a first few minutes. It was hard to get in on the initial spike but was possible to get in on over 50% retracement. We made a little profit on it on the Diamonds room.

At 7 a.m. we got Canadian Core CPI which came out exactly as expected so there was a no trade.

Let's talk about Wednesday.

1. Tuesday, February 20th, 2008 (4:30 a.m. New York Time) UK
At 4:30 a.m. we will have BOE Minutes coming out. The consensus is between 7:2 to 9:0. Majority of economists expect, however, 9:0 vote. I think if the vote is NOT 9:0 but 6:3 or 7:2, it would be worthy to buy GBP/USD. For 8:1 or 9:0 it would be a no trade. There is no sell opportunity for this report unless you know how to analyze the commentary.

2. Tuesday, February 20th, 2008 (8:30 a.m. New York Time) USA
At 8:30 a.m. we will have U.S. CPI X Food & Energy m/m, and Building Permits and House Starts. My only concern is if we get dollar weakening CPI number and good numbers from the housing market (positive deviation of 100 or more), then it may move the market the other way. Let's assume there is no major conflict. If the CPI comes out at 0.3% or higher, I think it would be a sell opportunity for GBP/USD. If it comes out at 0.1% or lower, it would be a buy opportunity for the GBP/USD. Either case, I would look for 40 to 50 pips or more in the first 1 hour of the report.

3. Tuesday, February 20th, 2008 (2:00 p.m. New York Time) USA
At 2 p.m. we will have U.S. FOMC Minutes. This is not for beginners. If you are interested to trade it, watch the video.

4. Tuesday, February 20th, 2008 (7:30 p.m. New York Time) AUSTRALIA
At 7:30 p.m. we will have some wage data out of Australia. I will skip this one.

That's all for tomorrow. As always, you can watch more detailed signal by clicking on the video link.

If you are interested more in trading news, go to Forex Diamonds - News Trading Education as I am trading there all of mentioned indicators live. Join the room, and get a lot of education from me and other traders that are there. I post trade plans and talk about the trades as well as give entry and exit signal live while the market moves. You can try it with no risk for 21 days so if you don't like it it is free. If you find it useful, then you can stick with us and make grow you live account with us. I am pretty sure you will be satisfied but at least give a try.

Thank you 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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hi every body, i new here.

Hi, My name is Elumelu Philip. A young Nigerian studying mass communication. I just started trading forex bt still have a long way to go. bcos i only know how to trade technically which i find quite stressful to trade cos of the time consumption. I hope i could meet FX traders who could teach me how to trade fundamentally.