Felix Homogratus
Commander in Chief
- Messages
- 153
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.
12-21-2007.swf
Let's first review past 2 days.
First of all, on Wednesday we had German IFO but it was not tradable so it was a no trade.
Then we had the BOE Minutes, and they expected 7 to 2 vote for the cut of the interest rates. As I said, 9-0 would create some pound weakness, and this is what happened. Within first 15 minutes we saw 100 pips move on GPB/USD, and eventually it moved 250 pips from the pre-release price. It was a very market moving signal: a great signal and a great trade.
On Thursday we had the UK GDP coming out. The q/q came out as expected, and y/y came out at 0.1 higher, and the Current Account came out low. It was, however, not enough to enter the trade so it was a no trade. There was no reliable price action as it did not hit any tradable trigger.
Then we had U.S. GDP coming out. It also came out exactly as expected so there was no way to trade this report.
Then we had New Zealand GDP coming out. We were looking for a 0.2 trigger. It only hit 0.1 trigger on q/q and y/y so it did not let us get into the trade. It moved the market 25 pips in first few seconds, and then it went back to the pre-release price. A 0.1 deviation was quite risky to trade although it somehow worked this time.
Let's now talk about Friday.
1. Friday, December 21st, 2007 (4:30 a.m. New York Time) UK
At 4:30 a.m New York time we will have UK Retail Sales m/m. It is expected to come out at 0.2%. I recommend you to trade 0.3 trigger so if it comes out at -0.1% or more negative, GBP/USD may go down about 40 pips. If it comes out at 0.5% or higher, GBP/USD may move up by 40 pips or more in the first hour of the report.
2ab. Friday, December 21st, 2007 (8:30 a.m. New York Time) CANADA
At 8:30 a.m. New York time we will have a few reports coming out: Canadian GDP and Retail Sales. I would focus on the Headline Retail Sales. For some reasons, the headline was moving market a little bit better recently. I would trade it with a 0.6 trigger so if it comes out at -0.9 or more negative, that would be a buy USD/CAD signal. If it comes out at 0.3 or higher, that would probably be a sell USD/CAD signal. Look for 30 to 35 pips either direction if the trigger his hit. The retails sales is in general more powerful than the GDP; however, if the GDP hits a 0.2 trigger from 0.1 expected, this would be tradable too. So if Canadian Retail Sales comes out as expected, then if GDP comes out at 0.3 or higher, it would be a sell USD/CAD signal, and a -0.1 or more negative reading would be a buy USD/CAD signal.
2c. Friday, December 21st, 2007 (8:30 a.m. New York Time) USA
Also at 8:30 a.m. New York time we will have U.S. Core PCE m/m coming out. This one deviates very rarely. However, if it does deviate by 0.2, it should create a significant dollar move. It happens maybe one a year so it is not very likely to happen; however, if it does happen, then, I think, it would be worth trading. If it comes out at 0.4% or higher, then it would be a sell GBP/USD signal. If it comes out at 0 or negative, it would be a buy GBP/USD signal. If the trigger is hit, expect a 40 pips move either way.
To sum up, focus first on the Canadian Retail sales, then on the Canadian GDP, and then on the U.S. Core PCE m/m.
That would be all for this week.
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
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.
12-21-2007.swf
Let's first review past 2 days.
First of all, on Wednesday we had German IFO but it was not tradable so it was a no trade.
Then we had the BOE Minutes, and they expected 7 to 2 vote for the cut of the interest rates. As I said, 9-0 would create some pound weakness, and this is what happened. Within first 15 minutes we saw 100 pips move on GPB/USD, and eventually it moved 250 pips from the pre-release price. It was a very market moving signal: a great signal and a great trade.
On Thursday we had the UK GDP coming out. The q/q came out as expected, and y/y came out at 0.1 higher, and the Current Account came out low. It was, however, not enough to enter the trade so it was a no trade. There was no reliable price action as it did not hit any tradable trigger.
Then we had U.S. GDP coming out. It also came out exactly as expected so there was no way to trade this report.
Then we had New Zealand GDP coming out. We were looking for a 0.2 trigger. It only hit 0.1 trigger on q/q and y/y so it did not let us get into the trade. It moved the market 25 pips in first few seconds, and then it went back to the pre-release price. A 0.1 deviation was quite risky to trade although it somehow worked this time.
Let's now talk about Friday.
1. Friday, December 21st, 2007 (4:30 a.m. New York Time) UK
At 4:30 a.m New York time we will have UK Retail Sales m/m. It is expected to come out at 0.2%. I recommend you to trade 0.3 trigger so if it comes out at -0.1% or more negative, GBP/USD may go down about 40 pips. If it comes out at 0.5% or higher, GBP/USD may move up by 40 pips or more in the first hour of the report.
2ab. Friday, December 21st, 2007 (8:30 a.m. New York Time) CANADA
At 8:30 a.m. New York time we will have a few reports coming out: Canadian GDP and Retail Sales. I would focus on the Headline Retail Sales. For some reasons, the headline was moving market a little bit better recently. I would trade it with a 0.6 trigger so if it comes out at -0.9 or more negative, that would be a buy USD/CAD signal. If it comes out at 0.3 or higher, that would probably be a sell USD/CAD signal. Look for 30 to 35 pips either direction if the trigger his hit. The retails sales is in general more powerful than the GDP; however, if the GDP hits a 0.2 trigger from 0.1 expected, this would be tradable too. So if Canadian Retail Sales comes out as expected, then if GDP comes out at 0.3 or higher, it would be a sell USD/CAD signal, and a -0.1 or more negative reading would be a buy USD/CAD signal.
2c. Friday, December 21st, 2007 (8:30 a.m. New York Time) USA
Also at 8:30 a.m. New York time we will have U.S. Core PCE m/m coming out. This one deviates very rarely. However, if it does deviate by 0.2, it should create a significant dollar move. It happens maybe one a year so it is not very likely to happen; however, if it does happen, then, I think, it would be worth trading. If it comes out at 0.4% or higher, then it would be a sell GBP/USD signal. If it comes out at 0 or negative, it would be a buy GBP/USD signal. If the trigger is hit, expect a 40 pips move either way.
To sum up, focus first on the Canadian Retail sales, then on the Canadian GDP, and then on the U.S. Core PCE m/m.
That would be all for this week.
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