Forex Trading Signal 09/18/08


FPA Forums and Reviews Admin
Here is the hi-quality video:

Let's first review what happened on Wednesday.

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If you curious what they are doing right now, please watch this video:

OK, let's go back to business... :)

We are in the middle of tsunami on the stock market. I don't write text
format version for anything other than trading signals so if you are
interested in this, please watch Sir Pip's review/preview video.

At 4:30 a.m. we had Claimant Count Change and the price initially went
down but then it reversed. Very disappointing price action but things
are strange right now while the market is focused on bankrupting banks
or insurance companies.

At 8:30 a.m. we had very low housing starts and again not much price
action.... We have to be very careful next few days when trading the news.

Let's talk about Wednesday.

1. Thursday, September 18th, 2008 (4:30 a.m. New York Time) UK
At 4:30 a.m. we will have UK Retail Sales coming out at -0.5%. Because
of the market situation, I don't really want to give triggers on this.
If you really want to take a risk, you might try to trade it with wider
trigger. Normally, 0.5 to 1.0 would be enough to trade with SNW so if
you really want to trade it, if it comes out at -1.5% or lower (more
negative), you might want to sell GBP/USD; if it comes out at +0.5% (or more
positive), you can buy GBP/USD. In any event, exit as soon as possible.
Trading against the number may work as well.

2. Thursday, September 18th, 2008 (8:00 a.m. New York Time) SWITZERLAND
At 8:00 a.m. we will have Swiss Interest Rate decision coming out. It
is expected they will hold the rates at 2.75%. If they cut the rates,
you can buy USD/CHF and look for 50 pips or much more in the first
30 minutes. If they hike the rates, you may sell USD/CHF and expect
at least 50 pips move as well.

3. Thursday, September 18th, 2008 (10:00 a.m. New York Time) USA
At 10:00 a.m. we will have U.S. Philly Fed Manufacturing Index coming out.
Sir Pips does not really recommend to trade it due to market conditions,
I don't recommend either. There is a few tips how to trade it if you
really want to trade it, but for that please watch the video.

That would be all for Thursday.

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!
-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
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