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Forex Trading Signal 03/31/08

Discussion in 'Current Forex Trading Signals' started by Crazy Cat, Mar 31, 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.: 03-31-2008.swf

    Let's first review Thursday first.

    On Thursday we had US GDP and Jobless Claims at the same time. The Jobless claims did not deviate, and the GDP annualized came out as expected. A no trade here.

    The GDP out of New Zealand came out higher than expected, triggering a buy signal on NZD/USD. Within 15 minutes the price moved by about 40 pips. I hope you made some money on it.

    The Tokyo CPI came out too close to expectations to place a trade. A no trade here.

    On Friday we had UK Nationwide House Prices. The m/m barely gave a sell signal but the y/y had a pretty large deviation. The price opened at 2.0007 trading down to 1.9934 within 1 hour. It was a nice, steady down move. I hope you made a good money on this.

    Then we had U.S. Personal Income and Personal Spending, and Core PCE. Everything came out very close to expectations so it was a no trade. It was a little positive for the U.S. dollar; the price moved by about 28 pips. Watch the video for more details.

    Let's talk about Monday.

    I am going to ignore the Euro Zone CPI indicators. It seems people are more focused on the growth right now.

    1. Monday, March 31st, 2008 (8:30 a.m. New York Time) CANADA
    At 8:30 a.m. we will have Canadian GDP coming out. The m/m is expected to come out at 0.5%. I would trade 0.3 deviation here. If it comes out at 0.8% or higher, I would sell USD/CAD looking for 40 pips of a price action. If it comes out at 0.2% or lower, it would be much lower than expected; therefore, I would buy USD/CAD and expect about 40 pips of a price action.

    2. Monday, March 31st, 2008 (9:42 a.m. New York Time) USA
    At 9:45 (9:42) a.m. we will have Chicago PMI. I don't recommend trading this mainly because at 9:42 a.m. the number is released to some special subscribers, and some news agencies are able to broadcast it. Therefore, you cannot trade it at 9:45 a.m. I am personally not going to trade it.

    3. Monday, March 31st, 2008 (11:30 p.m. New York Time) AUSTRALIA
    At 11:30 p.m. we will have Australian Interest Rate statement coming out. Unfortunately, they just hiked the rates so there is no way they would do it three times in a row. There is also no way they would cut it. If they would either cut or hike the rates, it would be a big price action but the chance they will do is almost 0. However, if they hike the rates to 7.50% it would be a big signal on AUD/USD. If they cut the rates to 7.00%, it would be a big sell signal on AUD/USD. Look for at least 50 pips of a price action.

    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 31, 2008
    Lasted edited by : Aug 15, 2015
  2. newbie1

    newbie1 Private

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    Can somebody explain this to me?

    Hi I am new to this forum and am trying to utilise these signals. So....

    "1. Monday, March 31st, 2008 (8:30 a.m. New York Time) CANADA
    At 8:30 a.m. we will have Canadian GDP coming out. The m/m is expected to come out at 0.5%. I would trade 0.3 deviation here. If it comes out at 0.8% or higher, I would sell USD/CAD looking for 40 pips of a price action. If it comes out at 0.2% or lower, it would be much lower than expected; therefore, I would buy USD/CAD and expect about 40 pips of a price action."

    Can you explain what the m/m is and tell me or give me a link to where I can get a timely listen in to what it is?

    When you say: " If it comes out at 0.8%" what exactly do you mean? The GDP or the m/m?

    And what do you mean when you say " I would trade 0.3 deviation here"

    Thanks
     
  3. Nfaifa

    Nfaifa Recruit

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    Deviation

    The deviation is simply how much a number differs from the consensus view of what it was expected to be. The size of the deviation gives the size of the surprise that the market has to react to. With a large enough deviation from the expected value, the market can be confidently predicted to go in a particular direction.
     
  4. Pharaoh

    Pharaoh Colonel

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    This is not an either/or situation. The event is the Canadian GDP m/m. It's the month to month change of Canada's Gross Domestic Product.
     
  5. Contest Director

    Contest Director 1st Lieutenant

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