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Forex Trading Signal 02/26/08

Discussion in 'Current Forex Trading Signals' started by Crazy Cat, Feb 26, 2008.

  1. Crazy Cat

    Crazy Cat Former FPA Special Consultant

    Sep 30, 2007
    Likes Received:
    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.: 02-26-2008.swf

    Let's review what happened on Friday.

    On Friday we had Canadian Retail Sales coming out. The headline came out very close to expectations so it was officially a no trade. However, the core number gave a big surprise and obviously the market reacted well. USD/CAD moved up about 50 pips; if you did not trade because of headline, at least you did not lose any money; if you entered based on the core number, congratulations.

    On Monday we had Existing Home Sales but I did not want to trade it as market barely cares about that indicator lately unless there would be a big surprise on the upside. This time USD/JPY reacted positively but I did not give any signal so it was a no trade. Watch the video for more details.

    Let's talk about tomorrow.

    1. Tuesday, February 26th, 2008 (4:00 a.m. New York Time) GERMANY
    At 4:00 a.m. we will have German IFO coming out. I don't recommend trading that.

    2. Tuesday, February 26th, 2008 (8:30 a.m. New York Time) USA
    At 8:30 a.m. we will have U.S. Core PPI m/m. This is a quite small indicator. It is expected to come out at 0.2%. In order to move the market, we would need to have a large deviation here. I would enter a trade with 0.2 deviation on Core PPI supported by 0.5 deviation in the same direction on headline. If the core goes the other way than the headline, or headline is just as expected, probably you would want to exit the trade rather sooner than later. Having said all that, if the core PPI m/m comes out at 0.4% or higher, I would sell GBP/USD and look for about 35 pips. If it comes out at 0% or negative, you may want to buy GBP/USD and also look for 35 pips move.

    3. Tuesday, February 26th, 2008 (9:00 a.m. New York Time) USA
    At 9 a.m. we will have U.S. S&P C20 House Price Index coming out. It is expected to come out at -9.7. I would enter only on positive deviation unless there is a great opportunity to enter at negative deviation. If it comes out at -9.3 or less negative, I would buy USD/JPY and look for 25 to 35 pips. I don't have a trigger for a negative deviation so I would say it would be a no trade - unless there is something crazy going on.

    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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