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Forex Trading Signal 8/14/09

Discussion in 'Current Forex Trading Signals' started by Sir Pipsalot, Aug 14, 2009.

  1. Sir Pipsalot

    Sir Pipsalot Former FPA Special Consultant

    Joined:
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    Hey guys,

    I'm sorry about last night's signal not getting published. I wrote it and sent it out as I usually do, but it didn't end up getting posted on the FPA site with an email sent out like it's supposed to. Anyways, I put it up there for archival's sake. Much of the trend talk is the same right now. EU and GU are in a bigger downtrend, but have had a nice retracement. Specifically all week we were looking for a retracement rally to 1.4310 on EU and 1.6630 on GU as great spots to get back in short for the new downtrend, and those were basically the highs for the day on Thursday. We started to get the last legs of that rally yesterday when I recommended in the signal (that almost no one received if you weren't in Diamonds... sorry) to either add to current shorts, or now initiate position trade shorts on EU, GU, or both. Even right now at 1.4280 as I type is a fine price to do so on EUR/USD. I think the trend has been established enough to warrant a stoploss somewhere a bit above the 1.4450 highs, so a position trade short on the Euro from here looks great. On the GBP/USD, I worry that a 1.7100 stop loss is a bit wide for entry here in the 1.6600 region, so my recommendation is to short it, but save some of your potential size in case we get another leg up to 1.6800 so you can average your entry price up. On both pairs, we're set up for a very sizable 3rd wave selloff to start soon that should target at least 1.4000, but probably more like 1.3800 before letting up. On GU the next selloff wave should reach at least 1.6000, and more likely 1.5700 and lower.

    On stocks, we continue to waffle around before the next decent downturn. Chances are the coming down leg on the EU and GU will happen in conjunction with a stock and commodity turn lower. Gold continues to consolidate while Silver has poked to annoying new highs just above $15. My best guess is Gold and Silver need that stock turn lower to get their next declining wave in gear. Right now, especially on Silver the price action is starting to get murky, but I'm going to give it another day or so before I make any hasty decisions about the short position there.

    In news Thursday, we saw bad US Retail Sales make a killing on USD/JPY. In news Friday:

    0830 US Core CPI (0.1% expected) - This number should also have an effect on USD/JPY, but perhaps not as dramatically as US Retail Sales did.
    If it comes out at 0.2% or higher, USD/JPY should rally 30 pips.
    If it comes out at 0.0 or lower, USD/JPY should sell off 30 pips.
    If the numbers come out more extreme, the range on the USD/JPY could approach closer to 40-50 pips.

    0915 US Industrial Production m/m (0.4% expected) - I think a clear surprise here could make for a nice move on USD/JPY, or even better yet, EUR/JPY. Typically this trade moves a bit slow at first... enough to get in within 5-15 pips of prerelease in the first minute.
    If it comes out at 1.0% or higher, EUR/JPY should rally 40 pips.
    If it comes out at -0.1% or lower, EUR/JPY should drop 40 pips.

    TRADE LIVE WITH SIR PIPS FOR $39.00 FOR 2 WEEKS (we may raise the trial price again soon due to large demand)
    Sir Pipsalot 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 <a href="http://www.forexdiamonds.com/?i=8">Forex Diamonds</a> and take advantage of this offer. This offer is for NEW customers only.

    To our success,
    Sir Pipsalot
     
  2. Crazy Cat

    Crazy Cat Former FPA Special Consultant

    Joined:
    Sep 30, 2007
    Messages:
    752
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    0
    Forex Trading Signal 08/14/09

    Hey guys,

    I'm sorry about last night's signal not getting published. I wrote it and sent it out as I usually do, but it didn't end up getting posted on the FPA site with an email sent out like it's supposed to. Anyways, I put it up there for archival's sake. Much of the trend talk is the same right now. EU and GU are in a bigger downtrend, but have had a nice retracement. Specifically all week we were looking for a retracement rally to 1.4310 on EU and 1.6630 on GU as great spots to get back in short for the new downtrend, and those were basically the highs for the day on Thursday. We started to get the last legs of that rally yesterday when I recommended in the signal (that almost no one received if you weren't in Diamonds... sorry) to either add to current shorts, or now initiate position trade shorts on EU, GU, or both. Even right now at 1.4280 as I type is a fine price to do so on EUR/USD. I think the trend has been established enough to warrant a stoploss somewhere a bit above the 1.4450 highs, so a position trade short on the Euro from here looks great. On the GBP/USD, I worry that a 1.7100 stop loss is a bit wide for entry here in the 1.6600 region, so my recommendation is to short it, but save some of your potential size in case we get another leg up to 1.6800 so you can average your entry price up. On both pairs, we're set up for a very sizable 3rd wave selloff to start soon that should target at least 1.4000, but probably more like 1.3800 before letting up. On GU the next selloff wave should reach at least 1.6000, and more likely 1.5700 and lower.

    On stocks, we continue to waffle around before the next decent downturn. Chances are the coming down leg on the EU and GU will happen in conjunction with a stock and commodity turn lower. Gold continues to consolidate while Silver has poked to annoying new highs just above $15. My best guess is Gold and Silver need that stock turn lower to get their next declining wave in gear. Right now, especially on Silver the price action is starting to get murky, but I'm going to give it another day or so before I make any hasty decisions about the short position there.

    In news Thursday, we saw bad US Retail Sales make a killing on USD/JPY. In news Friday:

    0830 US Core CPI (0.1% expected) - This number should also have an effect on USD/JPY, but perhaps not as dramatically as US Retail Sales did.
    If it comes out at 0.2% or higher, USD/JPY should rally 30 pips.
    If it comes out at 0.0 or lower, USD/JPY should sell off 30 pips.
    If the numbers come out more extreme, the range on the USD/JPY could approach closer to 40-50 pips.

    0915 US Industrial Production m/m (0.4% expected) - I think a clear surprise here could make for a nice move on USD/JPY, or even better yet, EUR/JPY. Typically this trade moves a bit slow at first... enough to get in within 5-15 pips of prerelease in the first minute.
    If it comes out at 1.0% or higher, EUR/JPY should rally 40 pips.
    If it comes out at -0.1% or lower, EUR/JPY should drop 40 pips.

    TRADE LIVE WITH SIR PIPS FOR $39.00 FOR 2 WEEKS
    Sir Pipsalot 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,
    Sir Pipsalot
     

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