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Forex Trading Signal 02/29/08

Discussion in 'Current Forex Trading Signals' started by Crazy Cat, Feb 29, 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.: 02-29-2008.swf

    Let's review what happened earlier today.

    First, we had Swiss employment indicator. That came out very close to expectations so it was a no trade.

    At 8:30 a.m. we had U.S. GDP coming out. It did not hit our 0.4 trigger so there was not much we could do about it.

    The Tokyo CPI did not hit our trigger either so another no trade here. By the way, the Yen is gaining incredibly versus everything right now. Watch the video for more details.

    Let's now talk about tomorrow.

    1. Friday, February 29th, 2008 (2:00 a.m. New York Time) UK
    At 2:00 a.m. we will have U.K. Nationwide House Prices m/m coming out. It is expected to come out at 0%. If it comes out at 0.3%, I would buy GBP/USD or GBP/JPY whichever seems to better to take based on a price action right before the report. If it comes out at -0.3%, I would sell GBP/USD or GBP/JPY. If the trigger is hit, I would expect a move of 30 pips on GBP/USD and 45 pips on GBP/JPY.

    2. Friday, February 29th, 2008 (3:30 a.m. New York Time) SWEDEN
    At 3:30 a.m. we will have Swedish GDP q/q coming out. It is expected to come out at 0.7% (some people say 0.6%). I would use 0.3 trigger here. If it comes out at 1.0% or higher, I think it would be a good opportunity to sell EUR/SEK. If it comes out at 0.3% or lower, I think it would be a good opportunity to buy EUR/SEK. If the trigger is hit, expect 300 pips of a price action. This is kind of different animal to trade so if you did not get used to it, just observe. Although spikes are big in terms of how many pips they move the market, a spread is also much bigger and a value per pip is very low on EUR/SEK.

    3. Friday, February 29th, 2008 (8:30 a.m. New York Time) USA
    At 8:30 a.m. we will have a few indicators coming out but I think U.S. Core PCE m/m would be a key indicator here. It is expected to come out at 0.2 (some people say 0.3). If it comes out at 0.5 or higher, I would sell GBP/USD. If it comes out at 0 or negative, I would buy GBP/USD. Try to avoid conflicts with the other indicators although I think the Core PCE is going to be the most important indicator. Nevertheless, if there are big deviations on the other indicators and they are conflicting with the PCE, I am not sure how the market is going to react on that so I would just stay away as some people say: "better safe than sorry."

    Tomorrow we will also have Chicago PMI and the Consumer Sentiment. I don't recommend trading them. Keep in mind that Chicago PMI comes out 3 minutes before official release through other sources.

    This week was one of the slowest in a while so be careful tomorrow. I think next week can be a nice as we will have a few very important indicators coming out.

    That's all for tomorrow. As always, you can watch more detailed signal by clicking on the video link. Good luck and have a nice weekend.

    Oh, 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 again 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
    #1 Crazy Cat, Feb 29, 2008
    Lasted edited by : Aug 15, 2015

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