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Forex Trading Signal 06/30/08

Discussion in 'Current Forex Trading Signals' started by Crazy Cat, Jun 30, 2008.

  1. Crazy Cat

    Crazy Cat Former FPA Special Consultant

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    Hi there my friend :)

    In case you missed Friday's email, Sir Pips is back so the signal is written based on his videos.

    Preview/Review on YouTube:


    Hi-Quality Preview/Review:
    6-30-2008R-P.swf

    Long-term Outlook:
    6-30-2008outlookflwup.swf

    Let's first review what happened on Friday.

    At 4:30 a.m. we had UK GDP coming out. The q/q number came out lower by 0.1 than expected, and the y/y came out lower by 0.2 than expected. However, there was a big conflict with Current Account which came out -8.4 versus -12.1 expected. GBP/USD spiked down by 30 pips and retraced within 20 seconds or so, and then it went the other way.

    At 8:30 a.m. we had a few U.S. reports. U.S. Personal Income came out much higher than expected, Personal Spending a little higher than expected and Core PCE lower than expected. USD/JPY went up 20 pips at most, and then retraced by 100%.

    Let's talk about Monday.

    1. Monday, June 30th, 2008 (8:30 a.m. New York Time) CANADA
    At 8:30 a.m. we will have Canadian GDP which is expected to come out at 0.3%. I usually recommend trading 0.3 deviation but 0.2 deviation from last month cause a great move of 60 pips on USD/CAD. If it comes out at 0.1% or lower, I would buy USD/CAD and expect 40 pips move. If it comes out at 0.5% or higher, I would sell USD/CAD and expect 40 pips move as well.

    2. Monday, June 30th, 2008 (9:42 a.m. New York Time) USA
    At 9:45 a.m. we will have Chicago PMI; however, some traders can get that number at 9:42 a.m. If you are not able to get it at 9:42, I would not trade it. If you are able to get that number at 9.42 a.m., I would buy USD/JPY if it comes out at 52.0; if it comes out at 44.0 or lower, I would sell USD/JPY - in either case I would look for 30 pips move.

    I also encourage you to watch a special video where Sir PIps is talking about long term trading. The link is provided at the beginning of this post.

    That's all for Monday.

    If you are interested more in trading news, go to Forex Diamonds - News Trading Education where Sir Pips or Magister Pips are trading all of mentioned indicators live. Join the room, and get a lot of education from me and other traders that are there. They post trade plans and talk about the trades as well as they 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. Worst case scenario, you will learn something and get all your money back.

    Thank you and good luck with your trades.

    To Our Success!
    -Sir Pipsalot & 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
     
    #1 Crazy Cat, Jun 30, 2008
    Lasted edited by : Aug 15, 2015
  2. Huskins

    Huskins Former Special Consultant to the FPA

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    This is How I would trade the canadian GDP, I tend to use tools other than just spike trading.... have a look:

    Canadian GDP

    It Measures Change in the value of all goods and services produced by the economy.
    Economist Expectations : 0.3
    Huskins Expectations: Less than 0.2


    Manufacturing is the biggest component of the Canadian GDP,
    Ref: Gross domestic product at basic prices, by industry (monthly)

    And Canada’s largest trading Partner happens to be the USA. We do know that the US economy is Tanking looking at the latest figures released out of the USA , hence I do not expect any increase at least in the manufacturing side of the GDP.

    The other major component is Mining and Oil and GAS extraction, even with the High oil prices, there does not seem to be an increase in Mining revenues, perhaps signaling a capacity maximization.

    Hence I expect The GDP not to grow as much as the Economist are predicting.


    However the Canadian GDP should assume a new Importance, because the BOC would be looking at those #s closely after they did not reduce the Interest rate during the last announcement against the market expectations.

    Any Contraction of the GDP should have the BOC perhaps revisiting their decision. Any expansion on the GDP (If its less than 0.7) would not change the opinions of the BOC.



    Trading Suggestions:
    Look at Usd/Cad.

    If #> expected Sell , If # < Expected Buy.

    I would be Looking at Pre-News trading (If Price is above/Below the 60 SMA on the 30 mint , 15 Mint, 5 Mint and 1 Mint Chart)

    Spike Trading on Triggers of 0.2 Div with the Technicals Backing. Or on a Div of 0.4.

    This report tends to make a high/low within the first 5 mints, I would be looking reverse trade the #s after the high /low is formed , expecting at least a 70% retracement.

    Pre News Setup:
    I will Look at the price with relation to the 60 SMA on the 1 mint , 5 mint and 15 Mint Chart, if all of them are in line , I will place a PRE-News trade in line with the Technicals, Place a Reverse Spike 60 pips away.

    If news is In line with the Technicals, hold for 30 pips profit, wait for a High/Low to be formed in 5 mints , and Look to trade against the # Expecting to Hit Pre Release with the SL being 1 Pip above/below the 5 mint High/Low.

    If the News is against the Technicals, wither the spike against the prenews , perhaps add to the position 60 pips away from pre-release with a Total SL of 75 pips. Expect Technicals to kick in.

    If News is as expected, look at the market reaction, and exit Prenews trade with a Small profit/Loss.

    Spike With Technicals: 30 Pips to 60 pips
    Small Spike Against Technicals: 10- 20 Pips
    Big Spike Against Technicals: 60 pips with 70-80% retracement within 15 mints.
     
    #2 Huskins, Jun 30, 2008
    Lasted edited by : Jun 30, 2008
  3. olisasegun

    olisasegun Recruit

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    why?

    about 2 months ago my snw subscription was discontinued due to what i think is high rate of credit card fraud from nigeria.

    i appealed to the snw support group and they promised that as soon they get empowered by e-gold they will let me know.

    but i have waited for 2 months now with no news as regard my fate.

    remember i am also a member of this forum( and i am entitled to benefits that other members are enjoying). i have introduced people from other forum which i joined and presently they are enjoying the service of snw. but what an irony with my articles on snw at those forum, i am yet to enjoy what i am preaching.
     
  4. ajanogha@gmail.com

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    Hi CC and Sir p. great guys like you are rare to come by am only wishing I could one day become near invicible as you guys have become in the fx mkt. am a new SNW user still tryng to graple with many of the factors hindering me from making profit with the softawre, First it took me over a week before I could get it running and now my trial period is almost ended, but, I won't give up not now, not in the future, I have strong belief in the application that it will work for me. Cheers guys. Keep your good work goimng
     
  5. jimbo

    jimbo Recruit

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    olisasegun: please email payments@secretnewsweapon.com. i think you'll find you can subscribe to snw again.
     
  6. ajanogha@gmail.com

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    can I possibly use the SNW on two broers plaform at the same time on same trade report? and please I often read you mention trading the spike with the SNW, what is it and how is it traded with the SNW?
     

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