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Forex Trading Signal 03/10/08

Discussion in 'Current Forex Trading Signals' started by Crazy Cat, Mar 9, 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.: 03-10-2008.swf

    Let's first talk about past Friday.

    Actually, before I start, I would like to apologize for sending a wrong signal last Friday. The video was right but the text was not. I had several windows with already written text that I just copy/paste, but it seems I copied the text from a wrong window. This is what happens when we have such a busy week like last week. Only what I can say is I made tons of money on my own account, and I wish every week was like last week we just had, even if it causes some glitches. At least you know we are not just sending signals but putting real money on all trades. Anyway, I apologize for that.

    Well, let's talk about the Canadian Employment first. It came out as a big positive number. The price moved down very rapidly. In fact, I think the SNW was the only way to take advantage of that big move. The afterspike was tough here, and in fact, after a while the price retraced completely. If you made a quick afterspike trade, probably you were able to grab a few pips but if you left it for a longer time, it would be a BE or even a losing trade. In fact, Diamonds people took a small loss here.

    Then we had U.S. Non-Farm Payroll coming out. It was the worst NFP in a recent history. It was a sell signal on USD/JPY. It went down by 70 pips or so; however, the price completely retraced after a few minutes. One of the reasons could be unemployment rate better by 0.2% (and therefore a big conflict). A deviation by 0.2 does not happen too often, and it is a significant deviation. On the NFP I don't keep my positions opened for a long time; I usually enter and exit all the time, and it worked OK this time. It was hard to make money and I think I was kind of BE on this.

    Let's talk about Monday.

    1. Monday, March 10th, 2008 (5:00 a.m. New York Time) NORWAY
    At 5:00 a.m. we will have Norway CPI m/m coming out. If you are not able to trade their currency, do not worry - just skip this trade. A headline number is important but you want to trade the underline number. The underline m/m is expected to come out at 0.6% and the y/y is expected to come out at 1.9%. I think I will trade the CPI underline y/y as it usually comes out first. If it comes out at 2.2% or higher, I would sell on EUR/NOK or USD/NOK, looking for 300 to 400 pips move. If it comes out at 1.6% or lower, I would buy EUR/NOK or USD/NOK, and look for 300 to 400 pips move as well.

    2. Monday, March 10th, 2008 (5:30 a.m. New York Time) UK
    At 5:30 a.m. we will have U.K. Industrial Production coming out. I would trade m/m number, looking for 0.3 deviation. If it comes out at 0.4 or higher, I would buy GBP/USD or GBP/JPY and look for 40 to 50 pips. If it comes out at -0.2 or lower, I would sell GBP/USD or GBP/JPY and look for 40 to 50 pips as well.

    3. Monday, March 10th, 2008 (8:01 p.m. New York Time) UK
    At 8:01 p.m. we will have U.K. RICS House Price Index coming out. I don't think it is going to be tradable. Maybe if it comes out at -45 or higher, you can buy GBP/USD and look for 30 pips or so but quite honestly, you would need to have a good deviation on this in order to place a trade. I am pretty sure I will not trade it myself so I don't want to recommend trading it if I want to skip it myself.

    That's all for tomorrow.

    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
    #1 Crazy Cat, Mar 9, 2008
    Lasted edited by : Aug 15, 2015

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