Forex Trading Signal 06/12/08

Crazy Cat

Former FPA Special Consultant
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: 6-12-2008review.swf

Hi res: 6-12-2008preview.swf

Sir Pips is going on vacation; he is going to get married and have a nice honeymoon. I [Crazy Cat] will be sending signals in text format only for the next two weeks.

Let's first review what happened on Wednesday.

At 4:30 a.m. we had a set of UK reports but they did not deviate enough to enter a trade. However, nearly every report was bad for the GBP so they *together* were able to push GBP/USD down greatly by about 55 pips.

At 9:30 p.m. we had Australian Employment Change. It came out -19.7K versus +13.5K expected. On top of it, the unemployment came out higher by 0.1 to 4.3%. AUD/USD moved 55 pips instantly, and then it went down even more. It was hard to trade afterspike on it because you never know if it was the lowest price and it is going to retrace, or if it want to go even lower. Some SNW users made a good money on the spike, good for them (good for me too) ;-)

Let's talk about Thursday.

1. Thursday, June 12th, 2008 (8:30 a.m. New York Time) USA
At 8:30 a.m. we will have U.S. Core Retail Sales. It is expected to come out at 0.7%, and I would trade 0.5 deviation on it. If it comes out at 0.2% or lower, I would sell USD/JPY and look for about 40 pips price action. If it comes out at 1.2%, I would buy USD/JPY and look for 40 pips as well. If you want to be more risky, you can trade with 0.3 or 0.4 deviation.

2. Thursday, June 12th, 2008 (6:45 p.m. New York Time) NEW ZEALAND
At 6:45 p.m. we will have New Zealand Retail Sales. I would trade the headline number. It is expected to come out at 0.4%, and I would trade it with 0.6 deviation. If it comes out at 1% or higher, I would buy NZD/USD and expect 25 pips move. If it comes out at -0.2%, I would sell NZD/USD and expect 25 pips move as well. With larger deviation, you can expect 35 to 40 pips move.

That's all for Thursday.

If you are interested in a preview of Friday, watch the video now or wait for a separate email.

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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