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Forex Trading Signal 10/31/08

Discussion in 'Current Forex Trading Signals' started by Crazy Cat, Oct 31, 2008.

  1. Crazy Cat

    Crazy Cat Former FPA Special Consultant

    Sep 30, 2007
    Likes Received:
    HI there my Forex friend.

    There was no news surprise today so we got a no trade. If you watched the video, Sir Pips was also talking about Japanese Interest Rate. He indeed traded it in the Diamonds room and people made tons of pips; however, I must admit that Japanese reports are not easy to trade and I do not recommend them to trade, especially if someone is new in Forex.

    Let's talk about Friday.

    1. Friday, October 31st, 2008 (8:30 a.m. New York Time) USA
    At 8:30 a.m. we will have Personal Income m/m and Personal Spending m/m. In order to trade it, you need to have +/- 1.0 deviation on at least one of them, and the other one cannot be conflicting. If one of them deviates by +1.0 and the other one is not conflicting, USD/JPY should go up by 30 pips. If one of them deviates by -1.0 and the other one is not conflicting, USD/JPY should go down by 30 pips. Because two reports need to be analyzed, I will personally skip them since it would be too tricky to set it up on SNW but if you want to take a risk, this may actually work pretty well.

    2. Friday, October 31st, 2008 (9:42 a.m. New York Time) USA
    Then at 9:42 a.m. we will have Chicago PMI. This is tradable only if you can get the number at 9:42, not 9:45, and since this report cannot be traded from SNW, I will not trade it. Due to current market conditions, this report can be traded if there is a big surprise so minimum trigger here would be +/- 5.0. A deviation of +5.0 or more should send USD/JPY up a bit, and a deviation of -5.0 or more negative should send USD/JPY down a bit.

    That would be all for this week.

    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
  2. Hisashi

    Hisashi Recruit

    Jan 1, 2008
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    Aren't we trading the Canadian GDP coming an hour later?
    I think +-0.4 or 0.5 deviation may be tradable enough on the current market condition.
    (But we might see a quick retracement even with 0.5 deviation.)
    Also we will have Australian Retail Sales which is not on the SNW Trading Schedule.
    It is on FPA's Forex News Calendar though.

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