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.
Part 1 - HI-res.: 03-05-2008review.swf
Part 2 - Hi res.: 03-05-2008preview.swf
Let's first review what happened earlier today.
At 1:45 a.m. we had Swiss GDP and CPI coming out. GDP came out higher than expected but CPI m/m came out lower than expected so I chose not to trade it. According to my signal, it was a no trade too. Watch the video for details.
At 9:00 a.m. we had Canadian Interest Rate coming out. It was a guaranteed signal. The did cut by 50 bp so it was a buy signal on USD/CAD. In first minutes the price moved by about 60 pips, and then we had 100% retracement. If you were patient enough, there was a good opportunity to enter on that retracement. I hope you made some money on this. Since the price never moved below the prerelease price, people who had smart SL could survive that retracement if they had entered long at worst price before the end of the retracement.
At 7:30 p.m. we had Australian GDP. It came out as expected so it was a no trade.
Let's now talk about tomorrow.
1. Wednesday, March 5th, 2008 (4:30 a.m. New York Time) UK
At 4:30 we will have UK Services PMI. It is expected to come out at 52. This indicator has been performing pretty well in the past four months. GDP/JPY moves on this a little better. I would use 0.8 trigger on GBP/JPY pair. If it comes out at 52.8, I would buy GBP/JPY and expect 50 pips move on this. If it comes out at 51.2 or lower, I would sell GBP/JPY and also look for 50 pips move. I hope it will be more, possibly even 100 pips.
2. Wednesday, March 5th, 2008 (8:15 a.m. New York Time) USA
At 8:15 we will have U.S. ADP Non-Farm Employment. It is expected to come out at 17.5K. Friday's NFP is expected to come out at 20K so big deviation on ADP could shift that expectations. If the ADP comes out at -50K or more negative, that would be big enough to sell USD/JPY and look for about 40 to 50 pips of a price action. If it comes out at 100K or higher, I would go long on USD/JPY and also expect 40 to 50 pips move.
3. Wednesday, March 5th, 2008 (10:00 a.m. New York Time) USA
At 10:00 a.m. we will have U.S. ISM Non-Manufacturing. Last month we had a huge negative deviation on this, and it caused a huge panic across the market. I think tomorrow a lot of people will be looking at it really closely. Market pays attention to ISM Non-Manufacturing Composite number. It takes under consideration a few more things, and ISM started reporting this indicator recently. Last month it came out at 44.6 whereas expectations were 52. This month it is expected to come out at 47.3. I would use 3.0 trigger on this. If it comes out at 50.3 or higher, I would go long on USD/JPY, and expect about 40 pips of a price action. If it comes out at 44.3 or lower, then it would signal sell on USD/JPY and we should see 40 pips of a price action as well. You can also trade EUR/USD with *reversed* triggers.
4. Wednesday, March 5th, 2008 (3:00 p.m. New York Time) NEW ZEALAND
At 3:00 p.m. we will have NZD Interest Rate Statement. It is expected they will keep the rates unchanged at 8.25%. The only way to trade it is look for a surprise. If they hike the rates to 8.50%, then buy NZD/USD and expect even as much as 100 pips move. If they start cutting rates and they cut to 8.00%, then sell NZD/USD and expect 50 to 100 pips of a price action. Watch out for comments.
That's all for tomorrow. It is going to be another busy day. 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
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.
Part 1 - HI-res.: 03-05-2008review.swf
Part 2 - Hi res.: 03-05-2008preview.swf
Let's first review what happened earlier today.
At 1:45 a.m. we had Swiss GDP and CPI coming out. GDP came out higher than expected but CPI m/m came out lower than expected so I chose not to trade it. According to my signal, it was a no trade too. Watch the video for details.
At 9:00 a.m. we had Canadian Interest Rate coming out. It was a guaranteed signal. The did cut by 50 bp so it was a buy signal on USD/CAD. In first minutes the price moved by about 60 pips, and then we had 100% retracement. If you were patient enough, there was a good opportunity to enter on that retracement. I hope you made some money on this. Since the price never moved below the prerelease price, people who had smart SL could survive that retracement if they had entered long at worst price before the end of the retracement.
At 7:30 p.m. we had Australian GDP. It came out as expected so it was a no trade.
Let's now talk about tomorrow.
1. Wednesday, March 5th, 2008 (4:30 a.m. New York Time) UK
At 4:30 we will have UK Services PMI. It is expected to come out at 52. This indicator has been performing pretty well in the past four months. GDP/JPY moves on this a little better. I would use 0.8 trigger on GBP/JPY pair. If it comes out at 52.8, I would buy GBP/JPY and expect 50 pips move on this. If it comes out at 51.2 or lower, I would sell GBP/JPY and also look for 50 pips move. I hope it will be more, possibly even 100 pips.
2. Wednesday, March 5th, 2008 (8:15 a.m. New York Time) USA
At 8:15 we will have U.S. ADP Non-Farm Employment. It is expected to come out at 17.5K. Friday's NFP is expected to come out at 20K so big deviation on ADP could shift that expectations. If the ADP comes out at -50K or more negative, that would be big enough to sell USD/JPY and look for about 40 to 50 pips of a price action. If it comes out at 100K or higher, I would go long on USD/JPY and also expect 40 to 50 pips move.
3. Wednesday, March 5th, 2008 (10:00 a.m. New York Time) USA
At 10:00 a.m. we will have U.S. ISM Non-Manufacturing. Last month we had a huge negative deviation on this, and it caused a huge panic across the market. I think tomorrow a lot of people will be looking at it really closely. Market pays attention to ISM Non-Manufacturing Composite number. It takes under consideration a few more things, and ISM started reporting this indicator recently. Last month it came out at 44.6 whereas expectations were 52. This month it is expected to come out at 47.3. I would use 3.0 trigger on this. If it comes out at 50.3 or higher, I would go long on USD/JPY, and expect about 40 pips of a price action. If it comes out at 44.3 or lower, then it would signal sell on USD/JPY and we should see 40 pips of a price action as well. You can also trade EUR/USD with *reversed* triggers.
4. Wednesday, March 5th, 2008 (3:00 p.m. New York Time) NEW ZEALAND
At 3:00 p.m. we will have NZD Interest Rate Statement. It is expected they will keep the rates unchanged at 8.25%. The only way to trade it is look for a surprise. If they hike the rates to 8.50%, then buy NZD/USD and expect even as much as 100 pips move. If they start cutting rates and they cut to 8.00%, then sell NZD/USD and expect 50 to 100 pips of a price action. Watch out for comments.
That's all for tomorrow. It is going to be another busy day. 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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