Forex Trading Signal 06/13/08

Crazy Cat

Former FPA Special Consultant
Hi my dear Trader :)

Let's first review what happened on Thursday.

At 8:30 we got U.S. Retail Sales which came out better than expected. USD/JPY did not move too well because we also had a conflicting number from U.S. Initial Jobless Claims which came out higher by 14K. However, EUR/USD seems to be more independent from IJC, so we saw a very spike on EUR/USD. Well, trading the afterspike was another story here. Both EUR/USD and USD/JPY retraced over 100%, probably going through SL people might set up. Probably the only big winners here were Secret News Weapon users (including myself) who took advantage of the spike, especially on EUR/USD (yum!).

Then at 6:45 p.m. we had Retail Sales out of New Zealand. The headline number came out higher whereas the core number came out lower. Luckily, they did not deviate well enough to enter a trade so it was just a no trade. The price action on NZD/USD was very nasty.

Let's talk about Friday.

1. Friday, June 13th, 2008 (2:00 a.m. New York Time) GERMANY
At 2:00 a.m. we will have German CPI but this is not tradable because this is a final revision so please skip it.

2. Friday, June 13th, 2008 (8:30 a.m. New York Time) USA
At 8:30 a.m. we will have U.S. CPI. It seems with today's economy higher inflation may lead the Fed to raise the interest rates so the market should be paying attention to it. I think this is safe to trade 0.1 deviation on it. I would trade U.S. CPI Core, and if it comes out at 0.3% or higher, I would sell EUR/USD. If it comes out at 0.1% or lower, I would buy EUR/USD. In any case, I would look for 40 to 50 pips of a price action. Ideally, it would be nice to not have any conflict between core and headline numbers but if you get a conflict, the core number should be more in focus but this might be a bumpy road.

That's all for Friday.

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!
-Crazy Cat

The video with the signal is recorded by Sir Pipsalot.
For your convenience, this text is written based on the video by Crazy Cat


Williama's Trading System


Since there is only one news release in the morning, I want to remind people about live trading of the Williama's Trading System after the news at 9am New York time.

If you want to find out how ALL brokers operate to take your money and how to defeat them, take a look at Williama's Trading System thread in the Forex Trading Systems and Strategies folder.