Hey folks,
Text signals for tonight and tomorrow are going to be somewhat simple as I'm off-location enjoying a couple of days off in Orlando. Instead of talking about the trends and overall market developments then (since I'm not tracking them as closely at the moment), I'm going to just put out my recommendations on the news trades. I will say though that the several days of downside in the stock market is likely to see a small bounce soon that will see the 920-930 area before turning lower and heading to sharp new retracement lows in the coming week or so. On Wednesday, the prenews sell idea worked wonders on the GBP/USD, but it got started sooner than expected around the 3am London open when the text of Darling's later speech on bank regulation leaked out to some press and GBP was put under heavy pressure all session. Even a rosier than expected BoE minutes and over 20K better than expected Claimant Count Change only temporarily provided relief for GBP/USD. US CPI numbers came in too close to expectations for a trade. For Thursday:
0430 UK Retail Sales y/y (-0.4% expected) - We haven't seen a clear signal on this indicator in awhile, and with some strange price action lately on this news, be careful that the monthly number has a significant surprise in the same direction in order to stick with a trade here. If a trend develops, I recommend holding no longer than 45 minutes.
If it comes out at +0.2%, GBP/USD should rally 40+ pips.
If it comes out at -0.8%, gbp/USD should sell off 40+ pips.
0700 CAD Core CPI m/m (0.1% expected) - This one I don't have a ton of faith in as small deviations have created some crazy, manipulated price action, and large deviations barely moved the market a few months ago. My advice is to skip this one, but with a shift in the markets towards a new dynamic taking place, indicators like these may start to work. I'd rather wait and watch it than put money on it.
TRADE LIVE WITH SIR PIPS FOR $39.00 FOR 2 WEEKS
Sir Pipsalot has a live trading room, in which he trades these news reports. There, he shares his trades in real time, including exact entries and exits, and detailed explanation for every entry and exit. The service costs $299 per month, but we have a 14-days $39.00 trial. Go to Forex Diamonds and take advantage of this offer. This offer is for NEW customers only.
To our success,
Sir Pipsalot
Text signals for tonight and tomorrow are going to be somewhat simple as I'm off-location enjoying a couple of days off in Orlando. Instead of talking about the trends and overall market developments then (since I'm not tracking them as closely at the moment), I'm going to just put out my recommendations on the news trades. I will say though that the several days of downside in the stock market is likely to see a small bounce soon that will see the 920-930 area before turning lower and heading to sharp new retracement lows in the coming week or so. On Wednesday, the prenews sell idea worked wonders on the GBP/USD, but it got started sooner than expected around the 3am London open when the text of Darling's later speech on bank regulation leaked out to some press and GBP was put under heavy pressure all session. Even a rosier than expected BoE minutes and over 20K better than expected Claimant Count Change only temporarily provided relief for GBP/USD. US CPI numbers came in too close to expectations for a trade. For Thursday:
0430 UK Retail Sales y/y (-0.4% expected) - We haven't seen a clear signal on this indicator in awhile, and with some strange price action lately on this news, be careful that the monthly number has a significant surprise in the same direction in order to stick with a trade here. If a trend develops, I recommend holding no longer than 45 minutes.
If it comes out at +0.2%, GBP/USD should rally 40+ pips.
If it comes out at -0.8%, gbp/USD should sell off 40+ pips.
0700 CAD Core CPI m/m (0.1% expected) - This one I don't have a ton of faith in as small deviations have created some crazy, manipulated price action, and large deviations barely moved the market a few months ago. My advice is to skip this one, but with a shift in the markets towards a new dynamic taking place, indicators like these may start to work. I'd rather wait and watch it than put money on it.
TRADE LIVE WITH SIR PIPS FOR $39.00 FOR 2 WEEKS
Sir Pipsalot has a live trading room, in which he trades these news reports. There, he shares his trades in real time, including exact entries and exits, and detailed explanation for every entry and exit. The service costs $299 per month, but we have a 14-days $39.00 trial. Go to Forex Diamonds and take advantage of this offer. This offer is for NEW customers only.
To our success,
Sir Pipsalot
