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Forex Trading Signal 04/08/08

Discussion in 'Current Forex Trading Signals' started by Crazy Cat, Apr 8, 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.

    1) HI-res.: 04-08-2008review.swf

    2) HI-res.: 04-08-2008preview.swf

    Let's first review last Friday and Monday.

    On Friday we had Swiss CPI. It came out a little high but it was not tradable anyway.

    The Canadian Employment came out as expected but the unemployment rate came out higher by 0.2%. Nevertheless, it was a no trade.

    U.S. Non-Farm payroll came out very low but still not enough low to enter a trade. However, last two months were revised lower, and the unemployment rate came out higher from 4.8% to 5.1%. All three factors allowed me to give a few trades on the Diamonds room, and we made a nice money there. USD/JPY moved by around 80 pips in a first few minutes so it was a very nice drop. The retracement was amazing as well, allowing to reenter at a very good price. I hope you made a nice money on it.

    Then we had Canadian Ivey PMI. It came out lower but not low enough to trade it.

    On Monday we had Canadian Building Permits. It came out lower but not low enough to enter a trade. The price actually moved pretty well. I will look at this indicator even closer in the future. If the next time the price moves well on smaller deviations, I will consider tightening my triggers. For now, better safe than sorry.

    Let's talk about Tuesday.

    1. Tuesday, April 8th, 2008 (10:00 a.m. New York Time) USA
    At 10:00 a.m. we will have U.S. Pending Home Sales m/m coming out. It is expected to come out at -0.8% but other sources say -1.0%. I would recommend to skip this report as it is not safe to trade it at all. If you are around and have nothing to do, you can try to use a huge trigger of ~3.0 or so, and only on the positive side. Therefore, if it comes out at 2.2% or higher, I would buy USD/JPY and expect a move of 30 pips or so. If it deviates negatively, it would be a no trade.

    2. Tuesday, April 8th, 2008 (2:00 p.m. New York Time) USA
    At 2:00 p.m. we will have U.S. FOMC Meeting. There is a lot of reading involved, and you have to judge really fast in order to enter a profitable trade. If you are new in Forex and/or you are not able to read critically and/or fast, skip this report. If you are interested in trading it, please watch the video. On that video you will find everything what you need to trade this event.

    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, Apr 8, 2008
    Last edited: Apr 8, 2008
  2. newbie1

    newbie1 Private

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    Hi there, do you have some sort of pip success scale to measure the success of Forex Diamonds with?
     

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