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Forex Trading Signal 11/25/08

Discussion in 'Current Forex Trading Signals' started by Crazy Cat, Nov 25, 2008.

  1. Crazy Cat

    Crazy Cat Former FPA Special Consultant

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    Hi there my forex friend :)

    Here is Sir Pip's video:
    11-25-2008.swf

    Let's first review what happened on Monday.

    German IFO came out much lower than expected but EUR/USD moved down by about 15 pips and then it moved the other way. EUR/USD was on buy mode, and German IFO could not change it. Well, the funny part of story is that I traded it with the SNW so I was selling EUR/USD and.... I made money. Well, the reason why I made money is because I have a pretty good experience and I saw EUR/USD acting strangely on -2.9 deviation so I decided to exit IMMEDIATELY.

    Let's talk about Tuesday.

    1a. Tuesday, November 25th, 2008 (8:30 a.m. New York Time) USA
    At 8:30 a.m. we will have U.S. GDP Annualized and Canadian Retail Sales. Last time we had U.S. GDP annualized (in August), on +0.6 deviation we had only 30 pips move on USD/JPY and eventually it retraced. Well, I think we can give a try with a buy signal on EUR/JPY or USD/JPY if it comes out at 0.0% or higher and expect 30 pips move. If it comes out at -1.0% or lower, USD/JPY may move down a little but bad news are not necessarily bad for the USD anymore so I will not be trading negative deviation at all. If anything, I want to trade only a good news with very conservative money management and very small profit target (say, around 15 pips or so).

    1b. Tuesday, November 25th, 2008 (8:30 a.m. New York Time) CANADA
    At 8:30 a.m. we will also have Canadian Retail Sales. I will not be trading it at all for a few reasons. The most important is we will have U.S. report at the same time. Also, we did not see decent deviations in past months so it is hard to predict how would it react. I do not want to test it on my account. I prefer not to trade than gamble. I do not gamble.

    2. Tuesday, November 25th, 2008 (10:00 a.m. New York Time) USA
    At 10:00 a.m. we will have U.S. Consumer Confidence. Last month it worked OK but it did not spike instantly so I don't really like trading stuff like that. Also, the deviation was huge and it took USD/JPY 5 minutes to move 45 pips. Sir Pips likes it, I am not really convinced to trade so I am going to write what he says but I will not be trading it myself. The range of expectations is between 30 to 45. If it comes out at 32 or lower, you might sell EUR/JPY or GBP/JPY. If it comes out at 44 or higher, you may buy EUR/JPY or GBP/JPY. It might work but this is not how I trade.

    That's all for Tuesday.

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    To Our Success!
    -Crazy Cat && Sir Pip
     

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