Hi there my Forex friend 
Sir Pips is on strike today and he demands $1.50 pay raise from Felix from $4.85 an hour to $6.35 + benefits such as dental insurance. Therefore, I, Crazy Cat, have to write the signal by myself. ;-) If you support Sir Pips, please leave a comment.
Anyway, let's go back to the business.
I am not good in reviewing (or trading) speeches. I always skip them as I make enough money from regular reports so let's say there is nothing to review for Monday.
Let's talk about Tuesday then.
1. Tuesday, August 19th, 2008 (5:00 a.m. New York Time) EURO ZONE, GERMANY
At 5:00 a.m. we will have German ZEW Economic Sentiment which is expected to come out at -62. It is a good report to trade, especially if you are a SNW user. I will definitely be trading this report. If you want to be more conservative, you can 8 trigger but if you want to be a bit more aggressive, I think a trigger as low as 5 should be good enough to scalp EUR/USD a bit. I think people will care about this indicator, especially now when Europeans are worried if the Eurozone is about to enter into recession. I will be aggressive myself and I will use 5 trigger myself so if it comes out at -57 or less negative, that means it is good for Euro and EUR/USD may go up by 25 pips. If it comes out at -67 or more negative, that would be bad for Euro and EUR/USD should go down by 25 pips. With +/- 8 deviation you we may see a move as big as 40 pips in first 10 minutes. Right before I would analyze the trend and I would make some adjustment if needed but I think this trade plan should work. Brokers usually keep the spread quite small but keep an eye on it just in case as you do not want to enter with 20 pips spread here. I think EUR/USD is more on sell mode now but keep an eye on 1.4660 level. With a smaller deviation it might be a good idea to take profits around there; with a bigger deviation probably it would be a good idea to keep *some* of the position opened in case this level breaks because if it breaks, EUR/USD may go down pretty well. If you are interested in trading it with SNW, you can sign up here (they have 25 days money back offer):
The Secret News Weapon
2. Tuesday, August 19th, 2008 (8:30 a.m. New York Time) USA
At 8:30 a.m. we will have bunch of U.S. reports. Probably one of the most important is U.S. Housing Starts m/m but I will not be trading it because of possible conflict with U.S. Building Permits and U.S. PPI. U.S. PPI itself is not really tradable and I was not trading it for a while but when it deviates, it may cause a weird price action. U.S. Housing Starts is a relatively weak indicator as well but if this deviates a lot, it may also screw up the trade at least a bit. U.S. Housing Starts itself should move USD/JPY by 25 to 30 pips if it deviates by 60K but again, I don't really feel I am going to wake up for this report. If you really have to trade this, try to sell USD/JPY if it comes out at 899K or lower (if the other indicators do not conflict) or buy USD/JPY if it comes out at 1020K or better. I actually think a positive number should move USD/JPY more than a negative number.
That would be all for Tuesday. Let's keep our finger crossed for Sir Pips. (I wonder how many people will believe in this story, he he. I bet some people would believe in anything they can read). ;-)))
TRADE LIVE WITH SIR PIPS FOR FREE!
Sirpipsalot 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 7-days FREE TRIAL. Go to Forex Diamonds to sign up for the FREE trial. This offer is for NEW customers only.
To Our Success!
-Crazy Cat
Sir Pips is on strike today and he demands $1.50 pay raise from Felix from $4.85 an hour to $6.35 + benefits such as dental insurance. Therefore, I, Crazy Cat, have to write the signal by myself. ;-) If you support Sir Pips, please leave a comment.
Anyway, let's go back to the business.
I am not good in reviewing (or trading) speeches. I always skip them as I make enough money from regular reports so let's say there is nothing to review for Monday.
Let's talk about Tuesday then.
1. Tuesday, August 19th, 2008 (5:00 a.m. New York Time) EURO ZONE, GERMANY
At 5:00 a.m. we will have German ZEW Economic Sentiment which is expected to come out at -62. It is a good report to trade, especially if you are a SNW user. I will definitely be trading this report. If you want to be more conservative, you can 8 trigger but if you want to be a bit more aggressive, I think a trigger as low as 5 should be good enough to scalp EUR/USD a bit. I think people will care about this indicator, especially now when Europeans are worried if the Eurozone is about to enter into recession. I will be aggressive myself and I will use 5 trigger myself so if it comes out at -57 or less negative, that means it is good for Euro and EUR/USD may go up by 25 pips. If it comes out at -67 or more negative, that would be bad for Euro and EUR/USD should go down by 25 pips. With +/- 8 deviation you we may see a move as big as 40 pips in first 10 minutes. Right before I would analyze the trend and I would make some adjustment if needed but I think this trade plan should work. Brokers usually keep the spread quite small but keep an eye on it just in case as you do not want to enter with 20 pips spread here. I think EUR/USD is more on sell mode now but keep an eye on 1.4660 level. With a smaller deviation it might be a good idea to take profits around there; with a bigger deviation probably it would be a good idea to keep *some* of the position opened in case this level breaks because if it breaks, EUR/USD may go down pretty well. If you are interested in trading it with SNW, you can sign up here (they have 25 days money back offer):
The Secret News Weapon
2. Tuesday, August 19th, 2008 (8:30 a.m. New York Time) USA
At 8:30 a.m. we will have bunch of U.S. reports. Probably one of the most important is U.S. Housing Starts m/m but I will not be trading it because of possible conflict with U.S. Building Permits and U.S. PPI. U.S. PPI itself is not really tradable and I was not trading it for a while but when it deviates, it may cause a weird price action. U.S. Housing Starts is a relatively weak indicator as well but if this deviates a lot, it may also screw up the trade at least a bit. U.S. Housing Starts itself should move USD/JPY by 25 to 30 pips if it deviates by 60K but again, I don't really feel I am going to wake up for this report. If you really have to trade this, try to sell USD/JPY if it comes out at 899K or lower (if the other indicators do not conflict) or buy USD/JPY if it comes out at 1020K or better. I actually think a positive number should move USD/JPY more than a negative number.
That would be all for Tuesday. Let's keep our finger crossed for Sir Pips. (I wonder how many people will believe in this story, he he. I bet some people would believe in anything they can read). ;-)))
TRADE LIVE WITH SIR PIPS FOR FREE!
Sirpipsalot 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 7-days FREE TRIAL. Go to Forex Diamonds to sign up for the FREE trial. This offer is for NEW customers only.
To Our Success!
-Crazy Cat
