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Forex Trading Signal 07/04/08

Discussion in 'Current Forex Trading Signals' started by Crazy Cat, Jul 4, 2008.

  1. Crazy Cat

    Crazy Cat Former FPA Special Consultant

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    Hi there my Forex friend :)

    Hi-Quality Preview/Review:
    1) 7-4-2008review.swf
    2) 7-4-2008preview.swf

    Long-term Outlook:
    3) 7-4-2008outlook-1.swf
    4) 7-4-2008outlook-2.swf

    Let's first review what happened on Thursday.

    At 3:30 a.m. we had Swedish Interest Rate Statement. We got a sell signal on EUR/SEK. The price moved down by about 350 pips, retraced by 50%, and then it moved another 400 pips although that 400 pips move down was also because of Trichet speech.

    At 4:30 a.m. we had UK Services PMI which was a big number here. It came out at 47.1 versus 49.5. GBP/USD went down by 30 pips but that was it, we did not have any following price action.

    At 7:45 a.m. we had Euro Interest Rate Statement. The plan was to sell whether there was a hike or not (on hike signal sell as soon as there was a spike up). It worked pretty well. I hope you made some money.

    At 8:30 a.m. we had Non-Farm Payroll coming out which came out very close to expectations. The unemployment came out a little worse, and Initial Jobless Claims came out a little higher was well but the market reacted very well as people were expecting much worse data. After the initial spike down, USD/JPY started going up very fast. One of the reason the dollar was a king was Trichet's speech.

    At 8:35 a.m. we had Trichet speaking. Amazing move and we made tons of pips. It seems we handle such speeches very well in the Diamonds room. Please watch the video the detailed comment.

    At 10:00 a.m. we had ISM Non-Manufacturing coming out. It came out much worse than expected: 48.2 versus 51 expected. USD/JPY went down by 30 pips and totally reversed then. I got fooled with such big deviation and tried to enter on the retracement so I lost a little on this report. I should had followed my own advice although the deviation was really big.

    Let's talk about Friday.

    With 4th of July holiday in the United States, I think a lot of traders all around the world will take a day off, especially since it is Friday, the last working day of the week. Therefore, currencies may trade sideways or we may see creepy moves on or the other direction that normally would not happen. I will be taking a day off as I am not sure if we are going to see 10 pips or 100 pips reaction on the news announcements. If you want to trade, you may give a try but be advised that anything can happen today.

    1. Friday, July 4th, 2008 (6:00 a.m. New York Time) GERMANY
    At 6:00 a.m. we will have German Factory Orders. This may move EUR/USD a little, some people trade it with a success before but because of the holiday I don't have any specific triggers here. Just be aware that EUR/USD may do spikes at 6:00 a.m.

    2. Friday, July 4th, 2008 (10:00 a.m. New York Time) CANADA
    At 10.00 a.m. we will have Canadian Ivey PMI. If you want to trade it, you may try to scalp with 3.0 trigger. Last month with 3.5 deviation USD/CAD moved by 25 pips so it was not a big move. Therefore, 3.0 trigger might be good enough to scalp a few pips so if it comes out at 65.3 or higher, you may try to sell USD/CAD, and if it comes out at 59.3 or lower, you may try to buy USD/CAD. We may see a nice move or ugly move here depending on how many people will be trading so obviously if the price is moving, you may try to some of the close positions as the price is moving. If the price is not moving, don't go under the water with this little report and get out at BE or small loss.

    PLEASE, watch also the two videos with long term outlook. Links are provided at the beginning of this post.

    That's all for this week.

    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
     
  2. Chrisl@net-1.org

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    CAT

    Hi there
    I am from South - Africa and as such our time scale differ greatly is there any site or app that can assist me in knowing when the times are compared to CAT?

    Kind regards
    Chris
     
  3. fxpanther

    fxpanther Banned

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    Are you seriuos?

    Hello Chris,

    I dont mean to be disrespectful, but your question is very very trivial. You cant ask for help in such an easy task. Come man, you want to trade for real?

    Time - Current time around the World and standard time zones map of the world
    The official US time


    Next time use google........in case your dont know Google, then type your search criteria :)




     
  4. Samuel Ajayi

    Samuel Ajayi Recruit

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    News interpretation



    Hello,

    I made a ton of pips going short on the EUR/USD yesterday around 8:30 AM ET, i believe that had more to do with luck than skill, but i was wondering how to interprete the news that came out i.e. NFP and the intrest rate increase.

    Thanks for your time and patience
     
  5. charlesmentor

    charlesmentor Recruit

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    re:time conversion

    hey nice work here felix. for Chrisl@net-1.org, to convert your time is easy.just google it.or you compare it to gmt.
     
  6. Chrisl@net-1.org

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    lol ....Hay I never claimed to be a serious trader : )
    I am only starting out and as such would like to get to kow the basics
    I appreciate the answer and please guys give our 'trivial guys' a break well get there
     
  7. ajanogha@gmail.com

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    Could I Be The Cause?

    Hi Sir P, And Crazy Cat,
    Am A One Month Old Subscriber To The Snw But I Still Have Not Reaped The Goodness Of This Application, Due To The Unpleasant Experiences Am Having With The Time And All That, But Yesterday Triggers About Three Of Them Came Out With A No Trade Actions, I Was Suprised When I Was Reading Your Review Of Yesterday And Saw You Claimed Everything Went On Well. Could I Be The Reason Or That The Signals You Provide Here Aren't Same With That Of The Snw? I Ve Asked Over Time How Is The Snw Used After The Spike Or The Retracement Please Let Someone Help Me Out With An Answer. Or Should I Just Go For The Diamond Service? Am In Love Still With The Snw Even Though I Am Yet To Make A Dime From It, But If The Diamond Room Service Could Be Better I Won't Hesitate To Migrate. Long Live The Fpa.
     
  8. ajanogha@gmail.com

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    HI SAM I GUESS YOU ARE IN NIGERIA AND POSSIBLY LAGOS HOW CAN I MEET WITH YOU PLEASE?
     
  9. Sir Pipsalot

    Sir Pipsalot Former FPA Special Consultant

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    Well, we have tons of people using the SNW in the diamonds room, so joining up with Diamonds and asking around in our chat room politely could definitely be helpful. In general though... getting the SNW to work with most brokers is not simple or easy like it used to be a year ago. You have to experiment on your own with different brokers and different methods to find a way to get in on the spike with minimal risk and slippage potential with a broker that won't requote you. If you're unwilling to put in that time/effort... you might have some trouble realizing SNW's potential.

    I recommend to most members, when they find something that works really well with the SNW to NOT spread it around and tell everyone though. If a few people are using it a certain way with a certain broker, it will probably keep working; however, if dozens and dozens of people use the same method with the same broker, the broker is likely to screw all of them over and change the rules somehow. It's in everyone's best interest who uses the weapon to pay their dues and figure out a profitable way to use it on their own, just like we have. Alternatively, you can put together a small network of 3-4 friends trying things on similar brokers and share information just with each other. That's probably the best of both worlds.
     

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