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Forex Trading Signal 12/18/08

Discussion in 'Current Forex Trading Signals' started by Crazy Cat, Dec 18, 2008.

  1. Crazy Cat

    Crazy Cat Former FPA Special Consultant

    Sep 30, 2007
    Likes Received:
    Hi there my forex friend :)

    Here is Sir Pip's video:

    Let's talk about Thursday.

    1. Thursday, December 18th, 2008 (4:00 a.m. New York Time) GERMANY, EURO ZONE
    At 4:00 a.m. we will have German IFO Business Climate coming out. A few months ago it was a huge leading indicator but recently it did not work well because the market is now focused on current events, not what will be next month so such leading indicators are not the best to trade. If the deviation is lower than +/- 2.0, then probably trading against it would be the best option so if it spikes up, you can enter a short trade on EUR/USD; if it spikes down, you can buy EUR/USD. If the deviation is bigger than 2.0, then I would not trade against it (although chances are good it will retrace). Spike trading might or might not work - if you are able to get a small spread and be able to exit quickly, then I guess you can try spike trading here.

    2. Thursday, December 18th, 2008 (4:30 a.m. New York Time) UK
    At 4:30 a.m. we will have UK Retail Sales m/m coming out which is expected to come out at at -0.6%. It has a habit to spike and then to completely reverse so be prepared to see that again. Currently, the market is not driven by economic numbers (although in a few months they should again be very hot) so don't expect too much from this indicator either. If anything, I would trade 1.0% deviation. If it comes out at 0.4% or higher, GBP/USD may go up by 25 to 30 pips (and it might also retrace then). If it comes out at -1.6%, GBP/USD should go down by 25 to 30 pips (and it may retrace as well).

    3. Thursday, December 18th, 2008 (8:30 a.m. New York Time) CANADA
    At 8:30 a.m. we will have Canadian Retail Sales coming out. This is a VERY weak report to trade, and I would not trade the spike here. A deviation of +/- 0.6 might produce a 20 pips spike but I don't trust this report too much (higher number, sell USD/CAD; lower number, buy USD/CAD; sell seems to be way more safe). For a few ideas how to approach this report, please watch the video.

    4. Thursday, December 18th, 2008 (10:00 a.m. New York Time) USA
    At 10:00 a.m. we will have U.S. Philly Fed coming out. This is a very small indicator. Last month a deviation of -27.5 moved USD/JPY down by 30 pips but it was a HUGE deviation. If we see such deviation again, then yes, trading it might make sense although 10 deviation may work fine as well. If it comes out at -50 or more negative, you may sell USD/JPY and expect about 20 pips move. If it comes out at -30 or less negative, you may buy USD/JPY and expect 20 pips move as well.

    That's all for today. Have a good trading session.

    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 $39.00 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
  2. Mark Harding

    Mark Harding Corporal

    Oct 4, 2007
    Likes Received:
    Good call

    Good call on the 4700 top for the euro SP.

    I'm flat at 4290 - only 1633 pips :-[


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