Hi there my friend
Thursday was kind of boring - we got more less what we expected so no trade...
Let's talk about Friday.
There are two tradable events.
1. Friday, September 12th, 2008 (8:30 a.m. New York Time) USA
At 8:30 a.m. we will have US Retail Sales together with the PPI. Whereas the PPI should not a big deal, of course if there is a conflict, the price action might be affected by a little. I would focus, however, on the Retail Sales Core m/m which is expected to come out at -0.2%. I think 0.5 deviation would be good enough to enter a trade. If it comes out at 0.3 or better, I would buy USD/JPY and expect 35 pips move. If it comes out at -0.7% or more negative, I would sell USD/JPY and expect 35 pips move as well.
2. Friday, September 12th, 2008 (9:55 a.m. New York Time) USA
Then at 9:55 we will have U.S. Prelim UoM Consumer Sentiment which is expected to come out at 64. If it comes out at 67 or better, I would buy USD/JPY and expect 30 pips move. If it comes out at 61 or worse, I would sell USD/JPY and expect 30 pips move as well.
This would be all for Friday.
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-Crazy Cat
Thursday was kind of boring - we got more less what we expected so no trade...
Let's talk about Friday.
There are two tradable events.
1. Friday, September 12th, 2008 (8:30 a.m. New York Time) USA
At 8:30 a.m. we will have US Retail Sales together with the PPI. Whereas the PPI should not a big deal, of course if there is a conflict, the price action might be affected by a little. I would focus, however, on the Retail Sales Core m/m which is expected to come out at -0.2%. I think 0.5 deviation would be good enough to enter a trade. If it comes out at 0.3 or better, I would buy USD/JPY and expect 35 pips move. If it comes out at -0.7% or more negative, I would sell USD/JPY and expect 35 pips move as well.
2. Friday, September 12th, 2008 (9:55 a.m. New York Time) USA
Then at 9:55 we will have U.S. Prelim UoM Consumer Sentiment which is expected to come out at 64. If it comes out at 67 or better, I would buy USD/JPY and expect 30 pips move. If it comes out at 61 or worse, I would sell USD/JPY and expect 30 pips move as well.
This would be all for Friday.
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