Forex Trading Signal 04/04/08

[Crazy Cat]

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.: 04-04-2008.swf

UK Services PMI came out lower than expected but not quite hitting my triggers. In first six minutes it popped down by about 40 pips, and then it completely retraced.

At 8:30 a.m. we had U.S. Initial Jobless Claims. It was a big sell signal on USD/JPY. The price moved by 81 pips in first 25 minutes.

The ISM Manufacturing did not deviate enough to give us a buy signal.

Then we had Australian Retail Sales. It came out lower than expected. AUD/USD moved down by about 40 pips.

Let's talk about Friday.

1. Friday, April 4th, 2008 (1:45 a.m. New York Time) SWITZERLAND
At 1:45 a.m. we are going to have Swiss CPI. If it deviates, the price moves very slow so I would not recommend trading it if you are new. Skip it.

2. Friday, April 4th, 2008 (7:00 a.m. New York Time) CANADA
At 7:00 a.m. we will have Canadian Employment Change coming out. It is expected to come out at 15K. If it comes out at 0 or lower, you may buy USD/CAD and look for 40 to 50 pips in a first hour of the report. If it comes out at 30K or higher, you may want to sell USD/CAD and also expect 40 to 50 pips of a price action. It it deviates by 30K or more, you may see USD/CAD moving by 70 pips.

3. Friday, April 4th, 2008 (8:30 a.m. New York Time) USA
At 8:30 a.m. we will have U.S. Non-Farm Payroll coming out. It is expected to come out at -50K. If it comes out at 0 or anything positive, I would buy USD/JPY assuming there is no conflict with the revision number. If it comes out at -100K or lower, it would be a big sell signal on USD/JPY. If the trigger is hit, I would look for 50 pips of a price action. For tips how to trade this report, please watch the video.

4. Friday, April 4th, 2008 (10:00 a.m. New York Time) CANADA
At 10:00 a.m. we will have Canadian Ivey PMI. It is expected to come out at 62.5. This indicator can be tradable. If the other reports deviate a lot, I would skip this report. If the other reports comes out as expected, then I would trade this indicator with a 5 trigger. If it comes out at 67.5 or higher, I would sell USD/CAD and look for 30 pips of a price action. If it comes out at 57.5, I would buy USD/CAD and look for 30 pips of a price action.

That's all for this week.

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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[cutiez]

???

Thanks a lot for the signal.

If the other reports today deviates a lot, I would skip this report but if they not, then I would trade this indicator with a 5 trigger.
What do u mean by saying that???

Thanks

 

[Contest Director]

THE END IS HERE! Today's the deadline for entering FPA's first contest. If we don't get some more entries, it might be our last contest. Win some money and help keep your Contest Director employed.
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It's easy to enter. There's a link right there at the end of today's Daily Trading Signals. The deadline is high noon, New York time.

If the other reports today deviates a lot

He's saying that if the reports from earlier in the day deviate a lot that the market probably won't move much on this report or might move in an unpredictable way.