News-Trading

[parsifal23]

Hi Fellow-Traders !

In this thread I´ll post set-ups for upcoming news-releases. Since I´m planning to give my opinions and trade-recommendations BEFORE THE NEWS, in case I see a high chance of being on the right side of the market. My favorite Economy is UK, that means I´ll trade mostly GBP-Side-Pairs, GBP/USD and EUR/GBP: Once in a while you can expect forecasts for other economies too. You can expect between 1 and 5 signals a week, usually 2 - 3 hours in advance. If you don´t want to miss it I recommend you subscribe to this thread and choose "Instant e-mail-notification": This service will be free of charge of course, I´m planning a 5-8 months beta-test to find out if enough people are interested and if I´m able to meet my own expectations. My first 2 forecasts (Past Fridays UK-Retail-Sales-Numbers and Wednesdays Employment-Change-Numbers provided nearly 1500 pips alltogether):

kind regards

parsifal

 

[parsifal23]

Today in about half an hour Canada will release some numbers. Since the past announcements didn´t meet expectations I expect the Canadian Currency to loose further ground.
I don´t have enough time now for a detailed analysis, it´s just a sentiment, so be careful.
However if you decide to trade the Loonie it would be wise to couple it with the strong Swiss Franc or the Yen.
Tog go long EUR/CAD might also be a good idea, I recommend a 30 pip STOP-LOSS and watch all pairs you want to trade carefully before and after the release

 

[parsifal23]

When to open the trade and when to close it

It depends of course how the currency is behaving before the release, if I´m planning to go long I´ll look for the lowest entrance possible and vice versa.
Usually I enter the trade between 30 and 2 minutes before and close it between 5 and 30 minutes (sometimes longer) after the news. If the trade is running in your favor place a fexible SL 10-20 pips above or below, don´t leave it alone for one minute !! Use for this purpose the 1 or 5 - minute -chart

 

[parsifal23]

Result: Numbers were mixed, market indecisive, managed to get out with a 25 pip gain 5 minutes after the release. Would have been better to avoid it, but most important is : NOTHING GOT LOST

 

[parsifal23]

The past 2 hours I´ve studied the impact of GDP-Numbers on the Pound: Since I couldn´t find any clear pattern, it´s hard to give a trade-recommendation. I t might be better for this reason to watch the news and (maybe) jump on the train after it has left station. Don´t expect to gain more than 30 - 50 pips. GBP already has risen a lot during the past 2 days and it´s hard to tell how much room it still has to climb further. Maybe positive numbers have already been priced in, so be careful.
BTW: The news event tommorow morning at 8 am (MET) could have a bigger impact, better to wait until tomorrow. (I´ll try to give a recommendation today until 8 pm (MET). Thanks.)

 

[LoRio]

The past 2 hours I´ve studied the impact of GDP-Numbers on the Pound: Since I couldn´t find any clear pattern, it´s hard to give a trade-recommendation. I t might be better for this reason to watch the news and (maybe) jump on the train after it has left station. Don´t expect to gain more than 30 - 50 pips. GBP already has risen a lot during the past 2 days and it´s hard to tell how much room it still has to climb further. Maybe positive numbers have already been priced in, so be careful.
BTW: The news event tommorow morning at 8 am (MET) could have a bigger impact, better to wait until tomorrow. (I´ll try to give a recommendation today until 8 pm (MET). Thanks.)

That 1.6660 level looks very trivial.(and evil)

 

[parsifal23]

I suggest to short the Pound right now, and watch carefully what´s happening in 25 min
Right now I expect the Pound going down, but of course it will depend very much on the numbers of GDP, but maybe it´s priced in already, hard to tell, for tomorrow I´m getting a clearer vision.Take care

 

[parsifal23]

Those of you who have stayed in the trade long enough (until 11.15 MET) should have a healthy profit, but it´s time now, I suppose to close all open trades:

The results of my trades have been better than expected: Of course I prefer it when price goes into one direction and moves on and on and on, but sometimes you have to adapt quickly to get something out of it. After watching my results I am certainly a "happy camper" (copyright : Swede): and not not very sad about a profit of exactly 1825 $$$

 

[parsifal23]

Hi There, for me it´s a good time to go long USD/JPY ahead of the FOMC-Meeting, it just bounces off support,

SL : 30 pips
TP: 103.30

Also EUR/JPY and GBP/JPY are rising, let´s get on Board ! Train is leaving !

USD/JPY might go down as low as 101.75, where it has been Sunday Night........

 

[RahmanSL]

Hi There, for me it´s a good time to go long USD/JPY ahead of the FOMC-Meeting, it just bounces off support,
SL : 30 pips
TP: 103.30

Totally agreed with you.......and a short on EUR/USD too