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.: 5-8-2008review.swf
HI-res Preview.: 5-8-2008preview.swf
Let's first review what happened on Wednesday.
At 4:30 a.m. we had UK Industrial Production, and we got a sell signal. The price moved by about 25 pips. It was a very disappointing trade for me. It seems the number leaked and some traders already were selling before the release. Unfortunately, I lost some money on this trade. Eventually it worked but I was already out.
U.S. Pending Home Sales came out as expected so no trade here.
New Zealand Employment Change came out very low: -1.2 trigger here. NZD/USD moved by about 100 pips so it was a great move. I hope you were able to make some good money here.
Australian Employment Change came out higher than expected by a little over 15 K. The unemployment rate was conflicting here but it deviated only by 0.1 so it was not a big deal. AUD/USD moved by 55 pips but eventually it reversed. Nevertheless, I hope you made a decent money here. I surely did.
Let's talk about Thursday.
1. Thursday, May 08th, 2008 (7:00 a.m. New York Time) UK
At 7:00 a.m. we will have UK Interest Rate statement. There is a significant chance that we might see a surprise cut by BOE. There are 5 out of 61 economists looking for a rate cut. If they cut the rates, I would sell GBP/USD and look for 50 pips or more in the first half hour of the report. Please, watch the video for more details.
2. Thursday, May 08th, 2008 (7:45 a.m. New York Time) EURO ZONE
At 7:45 a.m. we will have European Interest Rate statement. it is expected they will keep the rates unchanged. Most likely it will be a no trade. If they hike the rates, it would be a buy signal on EUR/USD, good for 70 pips. If they cut the rates, it would be a sell signal on EUR/USD, good for 70 pips as well.
3. Thursday, May 08th, 2008 (8:30 a.m. New York Time) USA
At 8:30 a.m. we will have U.S. Initial Jobless Claims. It is expected to come out at 370K. I will trade it with 20K trigger. If it comes out at 390K or higher, I would sell USD/JPY, looking for 30 pips in the first 15 minutes of the report. On the other hand, if comes out at 350K or lower, I would buy USD/JPY and look for 30 pips as well.
4. Thursday, May 08th, 2008 (8:35 a.m. New York Time)
At 8:35 a.m. we will have Trichet speaking. This is only for advances traders. Please watch the video for more details.
That's all for today.
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.: 5-8-2008review.swf
HI-res Preview.: 5-8-2008preview.swf
Let's first review what happened on Wednesday.
At 4:30 a.m. we had UK Industrial Production, and we got a sell signal. The price moved by about 25 pips. It was a very disappointing trade for me. It seems the number leaked and some traders already were selling before the release. Unfortunately, I lost some money on this trade. Eventually it worked but I was already out.
U.S. Pending Home Sales came out as expected so no trade here.
New Zealand Employment Change came out very low: -1.2 trigger here. NZD/USD moved by about 100 pips so it was a great move. I hope you were able to make some good money here.
Australian Employment Change came out higher than expected by a little over 15 K. The unemployment rate was conflicting here but it deviated only by 0.1 so it was not a big deal. AUD/USD moved by 55 pips but eventually it reversed. Nevertheless, I hope you made a decent money here. I surely did.
Let's talk about Thursday.
1. Thursday, May 08th, 2008 (7:00 a.m. New York Time) UK
At 7:00 a.m. we will have UK Interest Rate statement. There is a significant chance that we might see a surprise cut by BOE. There are 5 out of 61 economists looking for a rate cut. If they cut the rates, I would sell GBP/USD and look for 50 pips or more in the first half hour of the report. Please, watch the video for more details.
2. Thursday, May 08th, 2008 (7:45 a.m. New York Time) EURO ZONE
At 7:45 a.m. we will have European Interest Rate statement. it is expected they will keep the rates unchanged. Most likely it will be a no trade. If they hike the rates, it would be a buy signal on EUR/USD, good for 70 pips. If they cut the rates, it would be a sell signal on EUR/USD, good for 70 pips as well.
3. Thursday, May 08th, 2008 (8:30 a.m. New York Time) USA
At 8:30 a.m. we will have U.S. Initial Jobless Claims. It is expected to come out at 370K. I will trade it with 20K trigger. If it comes out at 390K or higher, I would sell USD/JPY, looking for 30 pips in the first 15 minutes of the report. On the other hand, if comes out at 350K or lower, I would buy USD/JPY and look for 30 pips as well.
4. Thursday, May 08th, 2008 (8:35 a.m. New York Time)
At 8:35 a.m. we will have Trichet speaking. This is only for advances traders. Please watch the video for more details.
That's all for today.
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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