Forex Trading Signal 12/17/07

Felix Homogratus

Commander in Chief
This is Sir Pips.

If you wish to watch the video, just click on it, and then click on "play" icon. My video version is MUCH MORE detailed so I encourage you to watch it.

Let's first review what happened on Friday.

At 8:30 a.m. we had U.S. CPI coming out. It was expected to come out at 0.2%. It came out at 0.3% which hit our sell signal. We were already on down trend as GBP/USD moved down a lot before the report. At the report, the price moved from 2.0271 down to 2.0218 so it moved around 50 pips immediately. The problem was on the retracement, however. It was very difficult to manage. In fact, I had to take a loss on this trade even if eventually it went our way. USD/JPY did not work well, and EUR/USD worked much better than GBP/USD. For more detailed description, watch the video.

Let's now talk about Sunday.

1. Sunday, December 16th, 2007 (7:01 p.m. New York Time) UK
At 7.01 p.m. New York time we will have UK Rightmove House Price Index m/m. This one is tough to trade. It is hard to say what is going to happen. I don't really thing it is terribly tradable. If you are around, you can watch this indicator. If it comes out at 2% or higher, I would expect some pound strength, and if it comes out at -2% or more negative, I would expect some pound weakness but not too much I would be willing to put a trade on.

Let's now talk about Monday.

2. Monday, December 17th, 2007 (8:30 a.m. New York Time) USA
At 8:30 a.m we will have U.S. Empire State Business Conditions Index and U.S. Current Account. Because they are coming at the same time, it is hard to say which one is going to grab the market. Most likely Empire Manufactures is more important one, and usually when it is in focus by itself a deviation of 10 or 12 can be tradable but I would skip that one.

3. Monday, December 17th, 2007 (9:00 a.m. New York Time) USA
At 9:00 a.m. we will have U.S. TIC Net Long-Term Transactions. This indicator used to work, then it did not work, and past 3 months it started working again because of very large deviations. It is expected to come out at 49 B. If it comes out at 0 or negative, I would look to sell USD/JPY, and if it comes out at 100 K or more positive, then I would buy USD/JPY. This is one of the financial health indicators so I think USD/JPY should work better on this one.

4. Monday, December 17th, 2007 (1:00 p.m. New York Time) USA
At 1:00 p.m. we will have U.S. NAHB Housing Market Index. This almost never move the market but if you trade on your own around a lunch time, keep an eye on it, especially if deviation is above 2.

That's pretty much all for Sunday and Monday. The only tradable indicator, I think, is the TIC.

If news trading seems to be very interesting for you, then I suggest you to go to Forex Diamonds - News Trading Education and read everything about this service. It is a live trading service I provide with Felix, and I will be able to show you exactly what I am doing as I am leading hundreds of traders just like you every day with very clear strategies on when to get in and get out. As people are following my trades, they are learning how to trade the news, feel comfortable with trading and make good profits. We offer 21 days free trial so you can just try it and see how you like it.

Thank you very much, and good luck with your trades.

To Our Success!
-Sir Pipsalot
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Felix Homogratus you are doing GREAT... I like this, Keep is on.
From Saka Opeyemi (+2348069256144)