Forex Trading Signals Summary - Thursday, March 2 2017

Peter O

Special Consultant to the FPA

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.



Forex News Gun Trade Plan​

Canada GDP ⋯ 8:30am NY time (Thursday, March 2)


Traded pairExpected figureDeviation trigger
USDCAD0.2 (%)±0.3 (%)
BuyUSDCADif actual figure is or is below-0.1 (%)
SellUSDCADif actual figure is or is above0.5 (%)

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

Review historical charts where the same deviation of at least 0.3 (%) occurred:​

Canada GDP history of charts.​

⋯⋯⋯⋯⋯ FNG Configuration ⋯⋯⋯⋯⋯​

Release name in FNG client: STCA Canada GDP All Industries

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


Diamonds Trading Signals Trade Plan​

Canada GDP ⋯ 8:30am NY time (Thursday, March 2)


Traded currency pairUSDCAD
Initial spike duration limit15 seconds
Initial spike price action threshold12 pips
Triggering retracement percentage30 %
Retracement duration limit40 seconds
Maximum trade hold time after release10 minutes
Stop loss10 pips
Take profit10 pips
Maximum spread2 pips

  1. If between 08:30:00am and 08:30:15am, so during the first 15 seconds you see USDCAD move up or down by 12 pips or more, then enter in the direction of the initial spike at the very first 30% retracement if it doesn't take more than 40 seconds (till 08:30:40am) – 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 15 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 08:40:00am, so 10 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.

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