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Forex Trading Signal 03/25/08

Discussion in 'Current Forex Trading Signals' started by Crazy Cat, Mar 24, 2008.

  1. Crazy Cat

    Crazy Cat Former FPA Special Consultant

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    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.: 03-25-2008.swf

    Last Thursday we had UK Retail Sales m/m. It was expected to come out at -0.2% and with the deviation of 1.2 it was a BIG buy signal on GBP/USD (the y/y deviated even more). The GBP/USD moved up about by 87 pips very quickly but then it retraced below the prerelease price, and then it moved up even more. The dollar was strengthening to the Euro at that time and this might be a reason why the retracement was so huge on GBP/USD. GBP/JPY worked better - it moved by 100 pips, then retraced about 50%, and then it moved even higher. The best pair to trade happened to be GBP/CHF - the initial move was 115 pips and it kept pushing to new highs eventually reaching 200 pips target.

    On Friday we did not have anything tradable. Then we had Easter so nothing to trade on Sunday. On Monday we had U.S. Existing Home Sales but I don't recommend to trade it, especially during holidays.

    Let's talk about Tuesday.

    1. Tuesday, March 25th, 2008 (8:30 a.m. New York Time) CANADA
    At 8:30 a.m. we will have Canadian Retail Sales (headline) m/m. Some people focus on the core number but I prefer to focus on the headline number. However, in order to trade safe, it is good to have the two numbers complementing each other. If there is a conflict, I would stay out completely. It is expected to come out at 1.4% on m/m. I would use 0.6 trigger on the m/m headline. If it comes out at 2.0% or higher, I would sell USD/CAD, and I would expect 40 pips of price action (or more). If it comes out at 0.8% or lower, I would buy USD/CAD and expect 40 pips of price action. If it deviates by 1.5, you would probably see 70 pips move - assuming that the core number is not conflicting.

    2. Tuesday, March 25th, 2008 (9:00 a.m. New York Time) USA
    At 9:00 a.m. we will have U.S. Home Price Index Composite 20 y/y. I would not worry about this one.

    3. Tuesday, March 25th, 2008 (10:00 a.m. New York Time) USA
    At 10:00 a.m. we will have U.S. Consumer Confidence but it did not move the market well last few times so I would also forget about this. Keep an eye on it as you never know what may happen, especially if you are in a trade already.

    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



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    #1 Crazy Cat, Mar 24, 2008
    Lasted edited by : Aug 15, 2015
  2. dances with Forex

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    I'm betting (not so heavily as to be imprudent) on a negative reaction to the news, based solely on how strong the AUD/CAD appears technically. Not anticipating strong good news on the Aussie, I'm betting the Canadian news will be negative. We'll see...
     
  3. ckotelmach

    ckotelmach Recruit

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    I find it confusing sometimes with these videos to understand the numbers. He sometimes refers to the number as a percentage, but there is not percentage here, it's a number with a decimal. Can someone please explain how the numbers work, and now to trade on them. What I am looking for is a frame of reference to begin to understand them.
    Thanks.
     

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