Hi there my Forex friend 
Hi-Quality Preview/Review:
1) 10-22-2008.swf
Let's first review what happened on Tuesday.
Canadian government cut the rates by 25 bp (0.25%). Last minute I decided to trade it because EUR/CAD was at great spot leaving some room to go down and it worked on. USD/CAD also moved around 50 pips. The key to the success here was to exit very quickly. We had SNW users making over 40 pips just because they exit immediately, and I was one of them. I know there was no signal for 0.25% cut but such decision could be made right before the report as it was risky to trade, and as you can see on USD/CAD, the price eventually went the other way pretty bad.
Then we had Australian CPI. Everything came out higher than expected, and we had a nice spike in a traditional direction that is up on AUD/USD. The plan was to sell on the spike and it worked quite OK. It was not a killer report but people made some money in the Diamonds room.
1. Wednesday, October 22nd, 2008 (4:30 a.m. New York Time) UK
At 4:30 a.m. we will have BOE Minutes. This is not for beginners, and it is also hard to advice anything here. Sir Pips said a few things but this is not a complete trade plan.
2. Wednesday, October 22nd, 2008 (8:30 a.m. New York Time) CANADA
At 8:30 a.m. we will have Canadian Retail Sales headline. 0.5 deviation should be sufficient but probably trading against it would be a good idea unless there is a huge deviation of 2% or more. Therefore, like with Australian CPI, enter short on a spike up or long on a spike down and try to make some pips here.
3. Wednesday, October 22nd, 2008 (4:00 p.m. New York Time) NEW ZEALAND
At 4:00 p.m. we will have Interest Rate out of New Zealand. It is expected they will cut the rates by entire 1% from 7.5% to 6.5%. No matter what happens, expect big price actions. If they cut the rates as expected, you may even see New Zealand dollar strengthening. New Zealand interest rate statements were always weird because of the conflicting commentaries, and because of the commentaries it is hard to give me any advice. Please watch the video for more informations.
That would be all for Wednesday.
TRADE LIVE WITH SIR PIPS FOR $9.99 FOR 2 WEEKS!
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 14-days $9.99 trial. Go to Forex Diamonds and take advantage of this offer. This offer is for NEW customers only.
Good luck trading guys!
To Our Success!
-Crazy Cat && Sir Pipsalot
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) 10-22-2008.swf
Let's first review what happened on Tuesday.
Canadian government cut the rates by 25 bp (0.25%). Last minute I decided to trade it because EUR/CAD was at great spot leaving some room to go down and it worked on. USD/CAD also moved around 50 pips. The key to the success here was to exit very quickly. We had SNW users making over 40 pips just because they exit immediately, and I was one of them. I know there was no signal for 0.25% cut but such decision could be made right before the report as it was risky to trade, and as you can see on USD/CAD, the price eventually went the other way pretty bad.
Then we had Australian CPI. Everything came out higher than expected, and we had a nice spike in a traditional direction that is up on AUD/USD. The plan was to sell on the spike and it worked quite OK. It was not a killer report but people made some money in the Diamonds room.
1. Wednesday, October 22nd, 2008 (4:30 a.m. New York Time) UK
At 4:30 a.m. we will have BOE Minutes. This is not for beginners, and it is also hard to advice anything here. Sir Pips said a few things but this is not a complete trade plan.
2. Wednesday, October 22nd, 2008 (8:30 a.m. New York Time) CANADA
At 8:30 a.m. we will have Canadian Retail Sales headline. 0.5 deviation should be sufficient but probably trading against it would be a good idea unless there is a huge deviation of 2% or more. Therefore, like with Australian CPI, enter short on a spike up or long on a spike down and try to make some pips here.
3. Wednesday, October 22nd, 2008 (4:00 p.m. New York Time) NEW ZEALAND
At 4:00 p.m. we will have Interest Rate out of New Zealand. It is expected they will cut the rates by entire 1% from 7.5% to 6.5%. No matter what happens, expect big price actions. If they cut the rates as expected, you may even see New Zealand dollar strengthening. New Zealand interest rate statements were always weird because of the conflicting commentaries, and because of the commentaries it is hard to give me any advice. Please watch the video for more informations.
That would be all for Wednesday.
TRADE LIVE WITH SIR PIPS FOR $9.99 FOR 2 WEEKS!
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 14-days $9.99 trial. Go to Forex Diamonds and take advantage of this offer. This offer is for NEW customers only.
Good luck trading guys!
To Our Success!
-Crazy Cat && Sir Pipsalot
The video with the signal is recorded by Sir Pipsalot.
For your convenience, this text is written based on the video by Crazy Cat