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 Review.: 5-7-2008review.swf
HI-res Review.: 5-7-2008preview.swf
Let's talk about Tuesday.
Australia did not change their interest rates so it was a no trade. They also released kind of dovish statement.
Then we had Swiss CPI and we were looking for at least 0.2 deviation on CPI y/y. It did not hit our trigger so it was a no trade.
UK Services PMI gave us a good sell signal, and GBP/USD moved by around 55 pips. I hope you were able to make some money on it.
At 8:30 a.m. we had Canadian Building Permits. It gave a clear buy signal but it did not work out quite well. USD/CAD went up by about 17 pips and then it eventually went down below the pre-release price.
The Canadian Ivey PMI performed really well. Unfortunately, it did not hit my trigger so it was a no trade. It came out 3.6 higher than expected and was able to move USD/CAD by 85 pips. However, it was not only Ivey PMI moving the market as this indicator is not powerful enough to move USD/CAD that much. At that time the dollar was selling off. Watch the video for more details.
Let's talk about Wednesday.
1. Wednesday, May 07th, 2008 (4:30 a.m. New York Time) UK
At 4:30 a.m. we will have UK Industrial Production m/m. It is expected to come out at -0.1%, and I would trade 0.3 trigger on this one. If it comes out at 0.2% or higher, I would buy on GBP/USD, looking for 35 to 40 pips of price action in the first 20 minutes of the report. If it comes out at -0.5% or more negative, I would sell GBP/USD, and I would expect 35 to 40 pips move as well.
2. Wednesday, May 07th, 2008 (8:30 a.m. New York Time) USA
At 8:30 a.m. we will have a few indicators coming out at the same time. Nothing really tradable.
3. Wednesday, May 07th, 2008 (10:00 a.m. New York Time) USA
At 10:00 a.m. we will have U.S. Pending Home Sales m/m. This is not a key indicator but you can try to make a few pips on it. I would use more aggressive trigger on the positive deviation. If it comes out at 0% or positive, it would be a buy signal on USD/JPY and I would look for 30 to 40 pips of a price action in the first hour of the report. If it comes out at -4% or more negative, I would sell USD/JPY and expect 30 to 40 pips move as well.
4. Wednesday, May 07th, 2008 (6:45 p.m. New York Time) NEW ZEALAND
At 6:45 p.m. we will have Employment Change out of New Zealand. It is expected to come out at -0.1%. If it comes out at -0.6% or lower, I would sell NZD/USD and expect 30 to 40 pips move. If it comes out at 0.4% or higher, I would buy NZD/USD and expect 30 to 40 pips move as well (in the first hour of the report). Watch out for the Unemployment Rate. If the Unemployment Rate deviates by +/- 0.2 and is conflicting with the Employment Change, it may move the market the other way.
5. Wednesday, May 07th, 2008 (9:30 p.m. New York Time) AUSTRALIA
At 9:30 p.m. we will have Australian Employment Change coming out. It is expected to come out at 10.0K. I would use 15K trigger on this one. If it comes out at -5K or more negative, I would sell AUD/USD, and I would expect a move of around 40 pips in the first hour of the report. If it comes out at 25K or higher, I would buy AUD/USD and expect same pip target as well. However, if the Unemployment rate deviates by +/- 0.2 and is conflicting with the Employment Change, it may move the market the other way.
That's all for this signal.
If you want to make some money on nice spikes, try The 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 your trade or get out, or maybe even reenter on the retracement. With a fast market moving I cannot imagine checking on-line forex calendars which are really slow.
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 Review.: 5-7-2008review.swf
HI-res Review.: 5-7-2008preview.swf
Let's talk about Tuesday.
Australia did not change their interest rates so it was a no trade. They also released kind of dovish statement.
Then we had Swiss CPI and we were looking for at least 0.2 deviation on CPI y/y. It did not hit our trigger so it was a no trade.
UK Services PMI gave us a good sell signal, and GBP/USD moved by around 55 pips. I hope you were able to make some money on it.
At 8:30 a.m. we had Canadian Building Permits. It gave a clear buy signal but it did not work out quite well. USD/CAD went up by about 17 pips and then it eventually went down below the pre-release price.
The Canadian Ivey PMI performed really well. Unfortunately, it did not hit my trigger so it was a no trade. It came out 3.6 higher than expected and was able to move USD/CAD by 85 pips. However, it was not only Ivey PMI moving the market as this indicator is not powerful enough to move USD/CAD that much. At that time the dollar was selling off. Watch the video for more details.
Let's talk about Wednesday.
1. Wednesday, May 07th, 2008 (4:30 a.m. New York Time) UK
At 4:30 a.m. we will have UK Industrial Production m/m. It is expected to come out at -0.1%, and I would trade 0.3 trigger on this one. If it comes out at 0.2% or higher, I would buy on GBP/USD, looking for 35 to 40 pips of price action in the first 20 minutes of the report. If it comes out at -0.5% or more negative, I would sell GBP/USD, and I would expect 35 to 40 pips move as well.
2. Wednesday, May 07th, 2008 (8:30 a.m. New York Time) USA
At 8:30 a.m. we will have a few indicators coming out at the same time. Nothing really tradable.
3. Wednesday, May 07th, 2008 (10:00 a.m. New York Time) USA
At 10:00 a.m. we will have U.S. Pending Home Sales m/m. This is not a key indicator but you can try to make a few pips on it. I would use more aggressive trigger on the positive deviation. If it comes out at 0% or positive, it would be a buy signal on USD/JPY and I would look for 30 to 40 pips of a price action in the first hour of the report. If it comes out at -4% or more negative, I would sell USD/JPY and expect 30 to 40 pips move as well.
4. Wednesday, May 07th, 2008 (6:45 p.m. New York Time) NEW ZEALAND
At 6:45 p.m. we will have Employment Change out of New Zealand. It is expected to come out at -0.1%. If it comes out at -0.6% or lower, I would sell NZD/USD and expect 30 to 40 pips move. If it comes out at 0.4% or higher, I would buy NZD/USD and expect 30 to 40 pips move as well (in the first hour of the report). Watch out for the Unemployment Rate. If the Unemployment Rate deviates by +/- 0.2 and is conflicting with the Employment Change, it may move the market the other way.
5. Wednesday, May 07th, 2008 (9:30 p.m. New York Time) AUSTRALIA
At 9:30 p.m. we will have Australian Employment Change coming out. It is expected to come out at 10.0K. I would use 15K trigger on this one. If it comes out at -5K or more negative, I would sell AUD/USD, and I would expect a move of around 40 pips in the first hour of the report. If it comes out at 25K or higher, I would buy AUD/USD and expect same pip target as well. However, if the Unemployment rate deviates by +/- 0.2 and is conflicting with the Employment Change, it may move the market the other way.
That's all for this signal.
If you want to make some money on nice spikes, try The 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 your trade or get out, or maybe even reenter on the retracement. With a fast market moving I cannot imagine checking on-line forex calendars which are really slow.
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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