Forex Trading Signals Summary - Thursday, March 10 2016

[Peter O]

What is news trading? How does forex news trading work?​

Forex News Trading can be extremely profitable if you have an understanding of fundamental analysis and have access to low latency forex trading software. Sounds too complex or expensive? Do not worry, Forex Peace Army analyst will help you to identify high-probability tradable economic news reports and advise on the trading strategy. Best of all: Forex News Gun - automated forex trading software is free for all. You find all details on Forex News Gun forum and if you want make pips easier you can find additional tools at Forex Tactical Squad.

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Forex News Gun Trade Plan​

EU Interest Rate ⋯ 7:45am NY time (Thursday, March 10)​

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	Traded pair	Expected figure	Deviation trigger
	EURGBP	0.05 (%)	±0.10 (%)

	Buy	EURGBP	if actual figure is or is above	0.15 (%)
	Sell	EURGBP	if actual figure is or is below	-0.05 (%)

Expected move during first 20 minutes after the release is 30 pips or more.​

Review historical charts where the same deviation of at least 0.10 (%) occurred:​

EU Interest Rate history of charts.​

To review Forex News Gun step by step trade plan go to weekly detailed posts.​

⋯⋯⋯⋯⋯ FNG Configuration ⋯⋯⋯⋯⋯​

Release name in FNG client: ECB Main Refinancing Rate​

Clicks: first row is for Sell EURGBP button, second one is for Buy EURGBP button:​

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Diamonds Trading Signals Trade Plan​

EU Interest Rate ⋯ 7:45am NY time (Thursday, March 10)​

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	Traded currency pair	EURGBP
	Initial spike duration limit	30 seconds
	Initial spike price action threshold	12 pips
	Triggering retracement percentage	45 %
	Retracement duration limit	60 seconds
	Maximum trade hold time after release	20 minutes
	Stop loss	10 pips
	Take profit	10 pips
	Maximum spread	2 pips

1. If between 07:45:00am and 07:45:30am, so during the first 30 seconds you see EURGBP move up or down by 12 pips or more, then enter in the direction of the initial spike at the very first 45% retracement if it doesn't take more than 60 seconds (till 07:46:00am) – and if spread is at 2 pips or less. Set stop/loss at 10 pips, and set take/profit at 10 pips immediately.
   
   
2. If the move either up or down was less than 12 pips during the first 30 seconds, then the actual number of the report did not generate sufficient interest in the market, and you simply skip the trade.
   
   
3. If by 08:05:00am, so 20 minutes after the report release, neither your stop/loss nor your take/profit points were hit, then close the trade automatically at market price of the time.

To review Diamonds Trading Signals more detailed trade plan go to weekly posts.​

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[Joh]

Thank you Peter
You know Arnold Sw. said: ' Make my day' well Peter in a different way/meaning you do every day when i see your signals, just love these wonderful trades each week

 

[Michel123]

This is great, man!

 

[ElaineMDG]

Excuse my ignorance if this is incorrect-I'm still learning and am TRYING to get an overall understanding of both TA and FA. Of what I've read, no change is expected in the actual rate-but that it will be what is said in the news conference that could have an effect on currencies. Is this correct?
Also, I thought the effect was going to be most pronounced in EURUSD?
If there's someplace you recommend that I could read to better understand this, I'd appreciate it-that way you don't have to spend your time "educating" this old newbie who probably should be concentrating more on basics (it's just fascinating to me to see these reports effect currency rates so drastically sometimes-AND I love trying to dissect the reasoning behind it...although it seems lately, harder to correlate these fundamentals to price changes)