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Forex Trading Signal up to 10.01

Discussion in 'Current Forex Trading Signals' started by Felix Homogratus, Oct 1, 2007.

  1. Felix Homogratus

    Felix Homogratus Commander in Chief

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    Let's first review what happened on Thursday and Friday.

    On Thursday we had New Zealand GDP coming out. It came out better than it was expected. It never hit my long signal because I forgot to send it to you but it worked as a trade, and I was trading it in my Forexdiamonds room. That was a pretty nice trade.

    On Friday we had Canadian GDP, and it came out very close to expectations: 0.2% versus 0.3% expected. It did not hit my trigger so it was a no trade, and the price action was not good at all.

    The Chicago PMI came out a little bit better than it was expected. It was also a no trade, according to my signal.

    1. Sunday, September 30th, 2007 (7:50 p.m. New York Time) JAPAN
    On Sunday we will have one indicator coming out that we will be watching and possibly trading, and that will be Japan Tankan Large Manufacturers Index at 7:50 p.m. New York time. This is going to be a little tough to trade. Be aware of some rapid price actions on Yen. You may want to stay out during that time. I am not going to tell you how to trade that one because it is a little bit complicated, and a price action before the report will matter a lot. There will be a good possibility of big conflicts so I suggest skipping that one unless you really know what you are doing.

    2. Monday, October 1st, 2007 (4:30 a.m. New York Time) UK
    On Monday at 4:30 a.m. New York time we will have UK Manufacturing PMI which is expected to come out at 55.6 versus a record high reading 56.3 last month. As I usually say, Manufacturing indicators are not hot currently so you will need to be a little bit more conservative on this one. If it comes out at 57 or higher, I think GBP/USD may possibly go up by 30 pips or more in the first hour of the report. On the other hand, if it comes out at 54 or lower, I think GBP/USD may possibly go down by 30 pips or more in the first hour of the report. Depending on the price action, price levels before the report such as important resistance or support levels, such triggers can move a price even by 50 pips.

    SUMMARY:
    * Report: U.K. Manufacturing PMI
    * Buy on GBP/USD if the number will be 57 or higher
    * Sell on GBP/USD if the number will be 54 or lower
    * If the trigger is hit, expect 30 pips or more in the first hour of the report.

    3. Monday, October 1st, 2007 (10:00 a.m. New York Time) USA
    Then at 10 a.m. New York time we will have U.S. ISM Manufacturing Index coming out which is expected to read at 52.5 versus 52.9 last month. This would be the 4th consecutive lower reading than previous one. I looked up at 70 different economists opinions, and most of them are expecting a reading very close to that. I think if the reading is 54 or higher, that would be the highest reading in the last 3 months, and I think it would be short-term positive for the dollar so GBP/USD may possibly go down by 50 pips or more in the first hour of the report. On the other hand, if the reading reads 51 or lower, that would be a pretty big jump down, and it would be the lowest reading in last 6 months, and based on that GBP/USD may possibly gain 50 pips or more in the first hour of the report. You may possibly see a quick spike of 20 to 25 pips, and then I would expect a retracement of at least 60%. I would enter on retracement, set a reasonable SL, maybe try to enter within 15 pips of the pre-release price, set a 20 pips SL, and try to get 25 to 30 pips profit. Obviously, if the deviation is much bigger, the move may be much bigger too, and your entry can be less conservative.

    SUMMARY:
    * Report: U.S. ISM Manufacturing Index
    * Sell on GBP/USD if the number will be 54 or higher
    * Buy on GBP/USD if the number will be 51 or lower
    * If the trigger is hit, expect 50 pips or more in the first hour of the report.

    If you still haven't been to my website, www.ForexDiamonds.com, I suggest you to go there and read everything. I wrote a lot stuff that you may find useful for your news trading. If you like, you can also sign up for my live service so you would be able to trade live with me.

    That's all for today. Good luck with your trades!

    Thank you very much!

    To Our Success!
    -Felix Homogratus
     
    #1 Felix Homogratus, Oct 1, 2007
    Last edited: Oct 1, 2007
  2. cpartners

    cpartners Private

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    Thank you

    Thank you felix, this is a good ideal. I am a new baby and have been following your email and Utube vedio which has been so informative. I am happy to be in this forum.
     
  3. Administrator

    Administrator Just Administrator :-)

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    Glad to have you

    We are glad to have you in our forum :) I'm sorry if all of this seems new...we are going to be changing and adding things as the days progress. Of course, making things better for everyone :)

    From time to time I'll drop in and add my two cents on a topic, but just know, I'm always watching :) Should you have any problems, please feel free to contact me.
     
  4. Zdntaib

    Zdntaib Recruit

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    Thanks you Mr Administrator for the welcome greeting, I am really appreciated it. I am happy to be in your forum.
     
  5. Matrixxdg

    Matrixxdg Recruit

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    Good move Felix...should be interesting to see how this evolves.

    MG
     
  6. crescent

    crescent Recruit

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    I equally beneffit from your email as newbie trader in forex

    thanks alot for bring up this forum, just like your email feeder it is highly beneficial
     
  7. Bond777

    Bond777 Recruit

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    Felix, I receive your trading signals some months....very interestingly. Thank you and good luck!:)
     
  8. kaze

    kaze Recruit

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    tq.. n all de best...
     
  9. traderman123

    traderman123 Recruit

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    tank you very much mr felix
     

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