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Forex Trading Signal 10-13-2009

Discussion in 'Current Forex Trading Signals' started by Sir Pipsalot, Oct 13, 2009.

  1. Sir Pipsalot

    Sir Pipsalot Former FPA Special Consultant

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    Hey folks,

    We saw largely consolidative price action today with a bit of a stop run south during the early Euro session. Our medium term outlook is still bullish stocks, EU, AU and bearish USD in general. Any decent dips on the hourly chart should be good points to get long on any of these. For example, a dip on the Euro into the 1.4700 to 1.4750 range should be a good region to get long with a SL somewhere below 1.4700. Tuesday has better odds in my opinion at being another bullish day rather than a bearish one, so smaller hourly chart dips may be enough for a short to medium term long entry.

    Stocks have shot higher with a very noticable gap around 1060. Today I closed the 2nd quarter of my stock swing trade long from 1050 or so at 1079 (quoting S&P cash, not futures). I'm holding 1/2 still with a mental stop around 1055 now. The gap from about 1057 to 1061 may be magnetic and force a pullback this week to fill it, but I think if that happens we'll find support there and it will be a good chance for a long with a relatively tight 5-10 point stop in that region.

    In news Tuesday, we have:

    0430 UK CPI headline y/y (1.3% expected) - On a surprise, I expect a 30-45 pip move right away in the first 1-2 minutes, then a possibility at a continuation after a pullback, but you have to look at the character of the move. If the spike reverses hard within the first 2 minutes, it's quite unlikely that the move will reassert itself. If it holds onto most of it's gains and eases back over the course of 5-15 minutes, it's worth buying the retracement at a good level and betting on another break higher.
    If it comes out at 1.5% or higher, GBP/USD should rally 30-45 pips.
    If it comes out at 1.1% or lower, GBP/USD should fall 30-45 pips.
     
    #1 Sir Pipsalot, Oct 13, 2009
    Last edited: Oct 13, 2009
  2. mekino1000

    mekino1000 Recruit

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    Good Job, Welldone!!!!

    :cute:NICE JOB, WELLDONE! ''SIR PIPS''
     
  3. mango67

    mango67 Recruit

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    Sir Pipsalot

    :)you were spot on today with your forecast for the UK CPI - it was 1.1%, & the GPB fell 35 pips. Keep up the excellent work please.
     
  4. abuadam

    abuadam Recruit

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    Thanks

    Thank you man, this is very helpful :)
     
  5. scospy

    scospy Recruit

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    thanks

    thanks alot...
     
  6. jjrichman

    jjrichman Recruit

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    A gratefull recruit

    Hi Mr. Pips!

    First of all i´d like to thank you for your dedication to this forum, and i want you to know that i´ve learnt a lot from you and i consider you my great forex teacher and inspiration to keep on learning. Hope you, your wife and the little one have all the best in this life.
    Thanks a lot.
    Keep on giving us signals, please!
    J.J Richman.:):):)
     
  7. Seamantrust

    Seamantrust Recruit

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    Thanks to Sir Pips. I am newly joined this forum and learned a lot. Just wondered the time you mentioned. What the time it is i.e in the first 1-2minutes you used? European time or America East time? Thanks.
     
  8. leonard rougeau

    leonard rougeau Recruit

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    Hello, I am new to trading and I would like to know where can I find the 1.5% mentioned in your qoute. what is it.
     

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