Hi there my Forex friend 
Hi-Quality Preview/Review:
1) 9-23-2008r-p.swf
Let's first review what happened on Monday.
We only had Cad Retail Sales which came out almost as expected. For some reasons, USD/CAD went a lot before the report, and then some time after the report it was melting. Very interesting price action.
Let's talk about Tuesday.
1. Tuesday, September 23rd, 2008 (7:00 a.m. New York Time) CANADA
At 7:00 a.m. we will have Canadian CPI. Good news is it is released at 7:00 a.m. because those at 7:00 a.m. work better than if it was at 8:30. The bad news is... it is CPI. If there is enough deviation on core m/m, we may see 20 to 30 pips price spike in the direction of the release, and then a big reversal. Therefore, if it comes out at 0.3% or higher, USD/CAD should go down by 20 to 30 pips but I what I would do is just set up a buy limit 20 to 30 pips below the prerelease price. If it comes out at -0.1 or more negative, I would sell USD/CAD 20 to 30 pips above the prerelease price. This is what Sir Pips says, but this is what I, Crazy Cat, would do:
a) make sure you are using a broker with low or fixed spread. You don't want to enter with 30 pips spread on this
b) assuming you are using a broker with fixed spread, have SNW running, see what the deviation is, count to 5, and execute reversed trade, OR:
c) assuming you are using a broker with fixed spread, set up limits (sell above current price action and buy below price action), 20, 25, 30, and 35 pips away, 1/4 trade size each.
d) this may or may not work - don't put crazy money on this trade. According to Murphy's law it will NOT work (and if we did not mention that strategy, it would work beautifully). Keep in mind Murphy is our best friend.
e) budget your trade size for 30 pips mental SL, and don't let leave your trade for -300 pips because you could not afford to close your transaction at the time it was supposed to be closed. Do not pray, do act smartly: use your head and common sense. DO NOT TRADE IT if it does not make sense to you or you do not believe in this strategy. Have your trade plan ready BEFORE the trade, with all possibilities, and simply follow this plan.
f) OK to trade it with SNW if you have a broker with fixed spread or low spread on 0.2 deviation, but exit within 5 to 15 sec., even if you are on negative side.
That would be all for Tuesday.
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!
-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
Hi-Quality Preview/Review:
1) 9-23-2008r-p.swf
Let's first review what happened on Monday.
We only had Cad Retail Sales which came out almost as expected. For some reasons, USD/CAD went a lot before the report, and then some time after the report it was melting. Very interesting price action.
Let's talk about Tuesday.
1. Tuesday, September 23rd, 2008 (7:00 a.m. New York Time) CANADA
At 7:00 a.m. we will have Canadian CPI. Good news is it is released at 7:00 a.m. because those at 7:00 a.m. work better than if it was at 8:30. The bad news is... it is CPI. If there is enough deviation on core m/m, we may see 20 to 30 pips price spike in the direction of the release, and then a big reversal. Therefore, if it comes out at 0.3% or higher, USD/CAD should go down by 20 to 30 pips but I what I would do is just set up a buy limit 20 to 30 pips below the prerelease price. If it comes out at -0.1 or more negative, I would sell USD/CAD 20 to 30 pips above the prerelease price. This is what Sir Pips says, but this is what I, Crazy Cat, would do:
a) make sure you are using a broker with low or fixed spread. You don't want to enter with 30 pips spread on this
b) assuming you are using a broker with fixed spread, have SNW running, see what the deviation is, count to 5, and execute reversed trade, OR:
c) assuming you are using a broker with fixed spread, set up limits (sell above current price action and buy below price action), 20, 25, 30, and 35 pips away, 1/4 trade size each.
d) this may or may not work - don't put crazy money on this trade. According to Murphy's law it will NOT work (and if we did not mention that strategy, it would work beautifully). Keep in mind Murphy is our best friend.
e) budget your trade size for 30 pips mental SL, and don't let leave your trade for -300 pips because you could not afford to close your transaction at the time it was supposed to be closed. Do not pray, do act smartly: use your head and common sense. DO NOT TRADE IT if it does not make sense to you or you do not believe in this strategy. Have your trade plan ready BEFORE the trade, with all possibilities, and simply follow this plan.
f) OK to trade it with SNW if you have a broker with fixed spread or low spread on 0.2 deviation, but exit within 5 to 15 sec., even if you are on negative side.
That would be all for Tuesday.
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!
-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