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Forex Trading Signal 11/06/07

Discussion in 'Current Forex Trading Signals' started by Felix Homogratus, Nov 5, 2007.

  1. Felix Homogratus

    Felix Homogratus Commander in Chief

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    This is Felix.

    If you wish to watch the video, just click on it, and then click on "play" icon.


    On Friday we had Canadian Employment Change. I told you if the Canadian Employment comes out at 30 K or above, we may see USD/CAD going down by 40 pips or more in the first 30 minutes of the report, and of course I said, as always, that if the deviation is bigger, then the move might be bigger too. USD/CAD opened at 9440, and it the first 30 minutes the local low was 9373 so it moved 70 pips. In another 30 minutes it moved additional almost 50 pips. The total move was well over 100 pips. If you took advantage of this, congratulations. If you weren't able to get in because the price was moving fast, then obviously there is going to be another opportunity in the future.

    Then we had U.S. Non-Farm Payroll. I said if it reaches 120 K or more, it would be a possible sell on GBP/USD, possibly good for 50 pips or more in the first 30 minutes of the report. We indeed got a sell signal, and the price opened at 2.0837 and went down to 2.0784 so it was about 51 pips, and then there was a very ugly retracement. It was a very ugly report. If you were able to make money on this, then you will probably be able to make money on many other reports because this was a very tough report to trade. I cannot believe myself what had happened as I really expected GBP/USD to go down much more, especially considering that was a such strong resistance level before the report. Unfortunately, we cannot predict everything in Forex.

    Due to technical difficulties I did not post my signals for Monday. Now it is too late so let's now talk about Tuesday.

    1. Tuesday, November 6th, 2007 (6:30 p.m. New York Time) AUSTRALIA
    We will have Interest Rate statement out of Australia which is coming out at 6:30 p.m. New York time. It is expected that they will raise the rate from 6.50% to 6.75%. If that happens, then what is important are comments. If the comments are hawkish and they hint to a possibility of another rate hike, then AUD/USD may possibly go up by 50 pips or more in the first 30 minutes of the report. On the other hand, if they hike the rate and their comments are dovish like they will say there will be no more rate hikes, then we may see AUD/USD going down by 50 pips or more in the first hour of the report. Also, if they do not hike the rate (keep the rate unchanged at 6.50%), I think it is very possible that AUD/USD will go down by 50 pips or more in the first 30 minutes of the report.

    That's pretty much all for tomorrow.

    If you have not been to my www.ForexDiamonds.com website, I strongly recommend you to go there. This is a place where you can trade live with me or one of my trading partners. I strongly recommend you to take advantage of our 21 days trial. Try this service, learn as much as you can during these 21 days, and if you want to stay, you will continue paying for using this service; if you don't like it, then you will get your money back. I believe everyone should try it and elevate his/her news trading skills to a higher level by being able to trade live with us during these news announcements. We don't mess around, we tell exactly as it is, exactly where we enter, exactly where we exit so this is a very powerful educational experience in the real market with live entries and exits.

    Have a nice day. Thank you very much.

    To Our Success!
    -Felix Homogratus
     
    #1 Felix Homogratus, Nov 5, 2007
    Lasted edited by : Aug 15, 2015
  2. dave100

    dave100 Recruit

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    TRading the AUD on the interest rate announcement

    hi Felix,

    I am just wondering what time sydney time is the interest rate announcement coming out, because just recently daylight saving started so i'm wondering if it is actually still 6:30pm New York time, which means the rate will be announced at 9:30am Sydney time.

    Cheers,
    Dave
     
  3. richtun

    richtun Recruit

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    rettacement

    hello house
    could someone tell me why the retracement on friday non farm payroll occur like that,&what we can do to aviod it
     
  4. public enemy

    public enemy Recruit

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    no problem

    I have no problem with anyone. I'm just not good trader enought, so no good trad no money, no problem, just practis...
     
  5. chuck

    chuck Recruit

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    Hi Guys, sorry but have been busy. I visit your site each day learning as much as i can. I will be signing up soon for the forex diamonds. I have learned a lot about trading the news and now it is time to join. Thanks for a great site. Regards Chuck
     
  6. toadybones

    toadybones Recruit

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    Hi Dave,
    AU Interest Rate at 9:30 am Wenesday, Sydney time (where daylight saving time has started); which is 5:30 pm Tuesday, New York time (where daylight saving time has just ended).
    All the best,
    t'bones
     
  7. Sinamania

    Sinamania Recruit

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    Hi Felix

    Hi, Felix
    Thank you so much for the signals, I really gain a lot from Trading the news. God Bless You.
     
  8. Ron

    Ron Recruit

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    It works - sometimes

    It is, as usual - nobody knows what will happen! Only the insiders know it and take the money, the others are the losers. Anyway I could take some profit. My strategy? I set an Entry Stop 15 points upwards and below on the price of 2,0850 around half an hour before. TP was set on 2.08 and 2.09. At 8.15 the Sell Entry was hit. Around 8.30 it moved down to 2.0790, but TP was not hit. I have closed manually.

    Greetings Ron
     
  9. enolase

    enolase Recruit

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    The Non-Farm Payroll Report

    Despite a timely execution, my broker filled me in at a bad price and I was horribly burned by the retracement. If not for the fact that I made almost the same amount from the US Fed Reserve Report, my account would not have lived to tell the story.

    News trading is too damn risky, especially during the New York sessions. That has been my experience. But there are always opportunities.
     
  10. piphog

    piphog Private

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    NFP came out great, but you can't just trade instantly based on superficial numbers, in this case, the devil was in the details. The "ugly retracement" came about from the quality of those jobs gained, which were mostly service-oriented. This is in the environment of falling interest rates and lest we forget this "credit crisis" that is fueling a strong downtrend all across the board for the dollar, which every good US news announcement will be swimming against this current, so to speak.

    These reports were not meant to be traded whimsically on the concrete amount. You have to do your homework, most of these types of reports are instantly available on the respective government/university website and it would behoove you to spend five minutes reading through the summary at least, and make your decision based on that. You WILL lose your shirt if you don't do your research and make more educated trades than just firing a shot a minute after NFP based on ForexFactory-delayed results.

    -PipHog
     
    #10 piphog, Nov 6, 2007
    Last edited: Nov 6, 2007

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