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Forex Trading Signal 12/05/08

Discussion in 'Current Forex Trading Signals' started by Crazy Cat, Dec 5, 2008.

  1. Crazy Cat

    Crazy Cat Former FPA Special Consultant

    Joined:
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    Hi there my Forex friend :)

    Here is Sir Pip's video:
    12-05-2008.swf

    Let's first review what happened on Thursday.

    UK cut the rates by 100 bp as expected, and eventually GBP/USD went up. We made tons of pips in the Diamonds room. It was beautiful. I hope you made a lot of pips too.

    Then we had Interest Rate statement out of Euro zone. They cut by more than expected but it was a very tricky trade because it did not spike down enough to feel like entering against it. Unless you traded the spike (which failed), you should be able to make a few pips out of it.

    Let's talk about Friday.

    1. Friday, December 05, 2008 (7:00 a.m. New York Time) CANADA
    At 7:00 a.m. we will have Canadian Employment Change. This is still a good spike trade but very hard to trade after the spike because it is quite unpredictable. Why, please watch the video. It is expected to come out at -25K. If it comes out at 0 or positive, USD/CAD should spike down by 40 pips. If it comes out at -50K or lower, USD/CAD should spike up by 40 pips or so. However, it will all depend on the night price action right before the report. If USD/CAD went down 150 pips before the report, expect profit taking levels so it may go against you. Unfortunately, this can be evaluated right before the report so I cannot give you a advice on this now.

    2. Friday, December 05, 2008 (8:30 a.m. New York Time) USA
    At 8:30 a.m. we will have U.S. Non-Farm Payroll, Revision and Unemployment Rate. This is very tricky to trade and I don't really recommend spike trading. Unemployment itself, if deviating a lot, can give a very strong signal. Also, it is very possible that the price will go where some people want it to go. What do I mean by this, please watch the video. Sir Pips talks a lot about this. In general, a number -400K or lower (more negative) should spike USD/JPY down by 40 pips. If it comes out at -260 or less negative, USD/JPY may spike up by 40 pips. But again, a lot will depend on the revision and unemployment rate as well, and also the prerelease price action.

    Please, watch today's video. It is EXCELLENT. Or screw it, and sign up with the Diamonds because next week there will be no more $27.00 trial so this is last change (at least for a while) to try it at so low price. Here is the link: Forex Diamonds

    Stay safe, make a lot of pips, and have a great weekend!

    To Our Success!
    -Crazy Cat && Sir Pip
     

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