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.: 4-16-2008.swf
Let's first review what happened earlier today.
At 4:30 a.m. we had UK CPI. It came out lower but not low enough to enter a trade. The price moved nicely by 50 pips but it was a no trade according to my triggers.
Then we had German ZEW which gave a sell signal on EUR/USD. Initially it moved by 35 pips or so there was a pretty good reaction.
The PPI at 8:30 worked pretty well. The core number came out as expected but the headline number came out higher. The Empire State Business Conditions Index was expected to be -17 but it came out positive: +0.6. Initially USD/JPY moved by 20 pips but it kept going that direction.
The TIC came out a bit better but it was a no trade according to my standards. Of course, we can say we should have traded but sometimes I just want to avoid more risky trades. However, I am glad to see that good market reaction so I might be trading them in the future.
Let's talk about tomorrow.
1. Wednesday, April 15th, 2008 (4:30 a.m. New York Time) UK
At 4:30 a.m. we will have UK Average Earnings with Bonus Index coming out. It is expected to come out at 3.6%. I think it is worth trading with 0.2 deviation assuming we will not get a conflict from the unemployment rate. If it comes out at 3.4% or lower, I would sell GBP/USD; if it comes out at 3.8% or higher, I would buy GBP/USD. If my trigger is hit and there are no conflicts, I would expect 35 pips of a price action.
2a. Wednesday, April 15th, 2008 (8:30 a.m. New York Time) CANADA
At 8:30 a.m. we will have Canadian Manufacturing Shipments coming out. I would skip this one as I think people will be focused on the U.S. indicators.
2b. Wednesday, April 15th, 2008 (8:30 a.m. New York Time) USA
At 8:30 a.m. we will have U.S. Core CPI m/m (also known as X Food and Energy). It is expected to come out at 0.2%. I think it is still OK to trade 0.1 trigger on this. Last month with a big 0.2 deviation the dollar did not respond at all; in fact, GBP/USD went down a little bit and then completely reversed. Every other time the dollar responded very well so I am going to ignore what happened last month. Therefore, if it comes out at 0.1% or lower, I think it would be bad for the U.S. dollar and I would buy GBP/USD, looking for 45 pips move. If it comes out at 0.3% or higher, it would be good for the U.S. dollar and I would sell GBP/USD and expect 45 pips move as well. If there are any conflicts, don't trade it.
2c. Wednesday, April 15th, 2008 (8:30 a.m. New York Time) USA
At 8:30 a.m. we will also have Housing Starts. It is expected to come out at 1010 K. I would trade it with 60K trigger. If it comes out at 950 K or lower, I would sell USD/JPY. If it comes out at 1070 K or higher, I would buy USD/JPY. If my trigger is hit, I would expect 35 pips move if there are no conflicts with the other numbers.
3. Wednesday, April 15th, 2008 (9:15 a.m. New York Time) USA
At 9:15 a.m. we will have U.S. Industrial Production. Sometimes you can scalp a few pips with 0.5 trigger but this indicator is not too reliable.
That's all for tomorrow.
If you want to make some money on nice spikes, try Forex Secret News Weapon - they also offer 21 days money back policy so try it and see if you can grow your account that way. A nice thing about the SNW is it has not only the autoclick feature but it will also allow you to see other reports so you will immediately know if there are any conflicts, and therefore you would know if you should stay in the trade or get out, or maybe even reenter on the retracement. With a fast market moving I cannot imagine using websites for such informations that you need to know immediately.
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
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.: 4-16-2008.swf
Let's first review what happened earlier today.
At 4:30 a.m. we had UK CPI. It came out lower but not low enough to enter a trade. The price moved nicely by 50 pips but it was a no trade according to my triggers.
Then we had German ZEW which gave a sell signal on EUR/USD. Initially it moved by 35 pips or so there was a pretty good reaction.
The PPI at 8:30 worked pretty well. The core number came out as expected but the headline number came out higher. The Empire State Business Conditions Index was expected to be -17 but it came out positive: +0.6. Initially USD/JPY moved by 20 pips but it kept going that direction.
The TIC came out a bit better but it was a no trade according to my standards. Of course, we can say we should have traded but sometimes I just want to avoid more risky trades. However, I am glad to see that good market reaction so I might be trading them in the future.
Let's talk about tomorrow.
1. Wednesday, April 15th, 2008 (4:30 a.m. New York Time) UK
At 4:30 a.m. we will have UK Average Earnings with Bonus Index coming out. It is expected to come out at 3.6%. I think it is worth trading with 0.2 deviation assuming we will not get a conflict from the unemployment rate. If it comes out at 3.4% or lower, I would sell GBP/USD; if it comes out at 3.8% or higher, I would buy GBP/USD. If my trigger is hit and there are no conflicts, I would expect 35 pips of a price action.
2a. Wednesday, April 15th, 2008 (8:30 a.m. New York Time) CANADA
At 8:30 a.m. we will have Canadian Manufacturing Shipments coming out. I would skip this one as I think people will be focused on the U.S. indicators.
2b. Wednesday, April 15th, 2008 (8:30 a.m. New York Time) USA
At 8:30 a.m. we will have U.S. Core CPI m/m (also known as X Food and Energy). It is expected to come out at 0.2%. I think it is still OK to trade 0.1 trigger on this. Last month with a big 0.2 deviation the dollar did not respond at all; in fact, GBP/USD went down a little bit and then completely reversed. Every other time the dollar responded very well so I am going to ignore what happened last month. Therefore, if it comes out at 0.1% or lower, I think it would be bad for the U.S. dollar and I would buy GBP/USD, looking for 45 pips move. If it comes out at 0.3% or higher, it would be good for the U.S. dollar and I would sell GBP/USD and expect 45 pips move as well. If there are any conflicts, don't trade it.
2c. Wednesday, April 15th, 2008 (8:30 a.m. New York Time) USA
At 8:30 a.m. we will also have Housing Starts. It is expected to come out at 1010 K. I would trade it with 60K trigger. If it comes out at 950 K or lower, I would sell USD/JPY. If it comes out at 1070 K or higher, I would buy USD/JPY. If my trigger is hit, I would expect 35 pips move if there are no conflicts with the other numbers.
3. Wednesday, April 15th, 2008 (9:15 a.m. New York Time) USA
At 9:15 a.m. we will have U.S. Industrial Production. Sometimes you can scalp a few pips with 0.5 trigger but this indicator is not too reliable.
That's all for tomorrow.
If you want to make some money on nice spikes, try Forex Secret News Weapon - they also offer 21 days money back policy so try it and see if you can grow your account that way. A nice thing about the SNW is it has not only the autoclick feature but it will also allow you to see other reports so you will immediately know if there are any conflicts, and therefore you would know if you should stay in the trade or get out, or maybe even reenter on the retracement. With a fast market moving I cannot imagine using websites for such informations that you need to know immediately.
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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