Sir Pipsalot
Former FPA Special Consultant
- Messages
- 511
Hey folks,
Well, we got pretty much exactly what we were looking for yesterday. Since I wrote last night's signal, the stock market rallied 1.5% off the futures dip, and the EUR/USD rallied 100+ pips off of European session lows to new 2009 highs. Yesterday I recommended buying on dips, and I believe these shorter term moves still have room to go, so I continue to recommend buying on dips but don't stretch your TP's that far since the region around 1.4700 is likely going to form a major top that will set us up for a short position trade probably good for thousands of pips. Again, for the longer term short side, we're waiting on either a better price at or around 1.4700 or further confirmation such as a break of 1.4350. At this point though, a break of yesterday's 1.4515 lows might be an initial sign of a lasting top, so I would only buy dips if the EUR/USD stays above that level for now.
In news Tuesday:
0430 UK CPI y/y (1.4% expected) - Lately on UK CPI surprises, we've seen a sharp 40 pip or so move on GBP/USD quickly, followed by a pullback and continuation for another 30-45 minutes. If we get a good enough deviation, I plan to wait for that pullback near the 5 minute mark to get in line with the number.
If it comes out at 1.6% or higher, GBP/USD should rally 40+ pips.
If it comes out at 1.2% or lower, GBP/USD should fall 40+ pips.
0500 German ZEW Economic Sentiment (60.0 expected) - This indicator seems to either be leaking or creating price action that shows the market doesn't care or trust this number. If the number is at least 5 better or worse than expected, I recommend waiting for it to top/bottom out in that first 1-2 minutes and getting in in the opposite direction for a scalp. This would have worked every time in the last 5 months if executed properly.
If it comes out at 65.0 or higher, try to short EUR/USD after it spikes up 20-30 pips in the first 1-2 minutes for a scalp.
If it comes out at 55.0 or lower, try to buy EUR/USD after is spikes down 20-30 pips in the first 1-2 minutes for a scalp.
0830 US Retail Sales Ex Autos (0.4% expected)*
*Note* Other numbers are Headline (1.9% expected) and Ex Auto & Gas (0.0% expected)
We're probably going to want to see all of these numbers come out in the same direction to feel comfortable about a trade here. We're also getting PPI numbers and Empire Manufacturing which should have an effect, but not as big as Retail Sales.
If the Ex Autos number comes out at 1.0% or higher, USD/JPY should rally 40+ pips barring major conflicts.
If the Ex Autos number comes out at -0.1% or lower, USD/JPY should fall 40+ pips barring major conflicts.
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
Well, we got pretty much exactly what we were looking for yesterday. Since I wrote last night's signal, the stock market rallied 1.5% off the futures dip, and the EUR/USD rallied 100+ pips off of European session lows to new 2009 highs. Yesterday I recommended buying on dips, and I believe these shorter term moves still have room to go, so I continue to recommend buying on dips but don't stretch your TP's that far since the region around 1.4700 is likely going to form a major top that will set us up for a short position trade probably good for thousands of pips. Again, for the longer term short side, we're waiting on either a better price at or around 1.4700 or further confirmation such as a break of 1.4350. At this point though, a break of yesterday's 1.4515 lows might be an initial sign of a lasting top, so I would only buy dips if the EUR/USD stays above that level for now.
In news Tuesday:
0430 UK CPI y/y (1.4% expected) - Lately on UK CPI surprises, we've seen a sharp 40 pip or so move on GBP/USD quickly, followed by a pullback and continuation for another 30-45 minutes. If we get a good enough deviation, I plan to wait for that pullback near the 5 minute mark to get in line with the number.
If it comes out at 1.6% or higher, GBP/USD should rally 40+ pips.
If it comes out at 1.2% or lower, GBP/USD should fall 40+ pips.
0500 German ZEW Economic Sentiment (60.0 expected) - This indicator seems to either be leaking or creating price action that shows the market doesn't care or trust this number. If the number is at least 5 better or worse than expected, I recommend waiting for it to top/bottom out in that first 1-2 minutes and getting in in the opposite direction for a scalp. This would have worked every time in the last 5 months if executed properly.
If it comes out at 65.0 or higher, try to short EUR/USD after it spikes up 20-30 pips in the first 1-2 minutes for a scalp.
If it comes out at 55.0 or lower, try to buy EUR/USD after is spikes down 20-30 pips in the first 1-2 minutes for a scalp.
0830 US Retail Sales Ex Autos (0.4% expected)*
*Note* Other numbers are Headline (1.9% expected) and Ex Auto & Gas (0.0% expected)
We're probably going to want to see all of these numbers come out in the same direction to feel comfortable about a trade here. We're also getting PPI numbers and Empire Manufacturing which should have an effect, but not as big as Retail Sales.
If the Ex Autos number comes out at 1.0% or higher, USD/JPY should rally 40+ pips barring major conflicts.
If the Ex Autos number comes out at -0.1% or lower, USD/JPY should fall 40+ pips barring major conflicts.
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