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Forex Trading Signal 08/20/08

Discussion in 'Current Forex Trading Signals' started by AsstModerator, Aug 20, 2008.

  1. AsstModerator

    AsstModerator FPA Forums and Reviews Admin

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    The webserver went on strike for a little while last night. It demands more ram and a bigger hard drive. Here is the Daily Signals that Crazy Cat sent out by email.


    ===========================

    Let's first review what happened on Tuesday.

    Sir Pips still is on strike. Felix agreed to raise his salary by $1.00
    an hour and was going to send an adjustment check in the amount of $7.45
    but Sir Pips demands a wire transfer for $7.45.

    Anyway, at 5:00 a.m. we had German ZEW coming out. It came out better
    than expected and EUR/USD moved up by 30 pips or so. I personally
    canceled the trade on one of my computers because I saw EUR/USD going
    up before the report was released. On the other computer where I had
    Oanda running, I made 1 pip profit. I decided to get out quickly because
    of strong sell trend on EUR/USD.

    Then at 8:30 a.m. we had bunch of U.S. reports. U.S. Housing Starts
    did not hit my trigger so it was a no trade. I decided to skip this
    report because my health was more important (and I did not expect big
    moves anyway) and otherwise I would be all night and day up. It always
    feels good when you skip a no trade. :)

    On Wednesday we have two events:

    1. Wednesday, August 20th, 2008 (4:30 a.m. New York Time) UK
    At 4:30 a.m. we will have MPC Meeting Minutes and 7-2 for hold vote
    is expected. I don't trade this because I cannot set up SNW for that,
    and since I live in Chicago area, that would be a middle of night so
    I prefer to take a few hours sleep and wake up fresh for morning reports.
    Since I will not be trading it, I do not want to recommend anything.
    This is an important report and historically it was able to move GBP/USD
    by a lot of pips. However, it also requires you to have paid and reliable
    news providers so you can get the vote as fast as possible. What really
    counts here is not only the vote but also names, that is who voted how.
    This is not for beginners for sure.

    2. Wednesday, August 20th, 2008 (8:30 a.m. New York Time) CANADA
    At 8:30 a.m. we will have Canadian Retail Sales. This might spike up
    or down, and reverse so be careful. I would trade the headline number
    which is expected to come out at 0.4%. I would trade it with about
    0.7 trigger here. If it comes out at 1.1% or higher, it would be good
    for the Canadian dollar, and I would go short (sell) on USD/CAD, looking for
    35 to 40 pips. If it comes out at -0.3% or lower (more negative), I would
    go long (buy) on USD/CAD, looking for 35 to 40 pips as well. What is
    interesting about this report is a lot of people pay attention to the
    core number as well. You may try to set up 0.7 trigger on the core number
    as well, and enter a trade on either the headline or the core number,
    whichever comes first. Probably smaller deviation could move USD/CAD
    as well but we had huge deviations recently so I would be more careful
    with smaller deviations as I am not sure how the market is sensitive
    to that right now. One thing for sure, if we get a small deviation,
    please take your profit rather fast. One more tip: EUR/CAD usually moves
    much better...... but pay attention to its spread. Canadian Retail Sales
    is a good report to trade but please don't turn a profitable trade into
    losing one - take your profits fast, you can always reenter....

    That would be all for Wednesday.

    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


    PS: the real reason why we don't have videos is because Sir Pips is
    out of town. He makes way more money than I wrote yesterday........
    but it was funny to read all comments. ;-)
     

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