Forex Trading Signal 11/20/08

Crazy Cat

Former FPA Special Consultant
Messages
753
Hi there my forex friend :)

Here is Sir Pip's video:
11-20-2008.swf

First let's review what happened on Wednesday.

At 8:30 a.m. we had US CPI. Both Sir Pips and I were right. It was not tradable with SNW as there was no spike happening so it was good to skip this report, but as far as afterspike is concerned, Sir Pips also correctly predicted that EUR/JPY would go up. He gave a trade in the Diamonds room and people made nice pips there.

Let's talk about Thursday.

1. Thursday, November 20th, 2008 (4:30 a.m. New York Time) UK
At 4:30 a.m. we will have UK Retail Sales headline m/m coming out. It is expected to come out at -0.9%. If it comes out at -1.5% or more negative, I would sell GBP/USD and expect 40 pips move. If it comes out at -0.3% or less negative, or positive, I would buy GBP/USD and expect 40 pips move as well. This might also be tradable if you trade against the spike, that is enter the other way at the top or bottom of the spike when it seems the price action is reversing.

2. Thursday, November 20th, 2008 (10:00 a.m. New York Time) USA
Then at 10:00 a.m. we will have U.S. Philadelphia Fed Index coming out. This might move the market if the deviation is big like it was last time. If it comes out at -46 or more negative, I would sell USD/JPY and look for 25 pips move. If it comes out at -24 or less negative, I would buy USD/JPY and expect 25 pips move as well. You may give a try only if spread is very low and you will not get slipped.

That's all for Thursday.

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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 $27.00 trial. Go to Forex Diamonds and take advantage of this offer. This offer is for NEW customers only.

To Our Success!
-Crazy Cat && Sir Pip
 
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