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Signals Review (March 29 - April 02)

Discussion in 'Current Forex Trading Signals' started by Crazy Cat, Apr 4, 2010.

  1. Crazy Cat

    Crazy Cat Former FPA Special Consultant

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    Hi there :)

    This is Crazy Cat, with the review of the week.

    This week, we were watching 11 economic indicators. 1 of them hit the triggers that I sent to you. Let's review...

    1. Tuesday, March 30th (20:30 New York Time) Australia

    I said if Australian Retail Sales comes out at -0.4 or more negative, AUD/USD will probably go down by 40 pips or more in the first 45 minutes of the report.

    It actually came out at -1.4 and AUD/USD moved down by 55 pips. The initial spike was somehow disappointing, but it gave a lot of room for manual entry at relatively good price. Unfortunately, I could not be at home at the time of the release and therefore I missed the trade - so I cannot say anything if it worked for me.

    If you want to see the price action, here is the chart:
    Forex news trading currency exchange charts

    If you managed to grab a few pips after the spike - congratulations!

    There were two nice surprises:

    1) US ADP Employment Change reacted really nicely with a relatively good deviation. Maybe it was all because they expected a positive number but it came out negative. You typically have best trades when something like this happen.

    Here is the chart:
    Forex news trading currency exchange charts

    However, in order to trade it I would need to see a few good price actions in a row - otherwise it may simply be a pure luck.

    2) US ISM Manufacturing Index produced a relatively good spike although the deviation was quite big as well. It's still too little for me to treat this indicator seriously.

    Here is the chart:
    Forex news trading currency exchange charts


    Other comments:
    Of course we had U.S. Non-Farm Payroll and only -22K deviation. Initially USD/JPY spiked down by 40 pips but just a few seconds later USD/JPY retraced to a prerelease level and then within the same minute it ended up 35 pips above the prerelease price. I am not surprised it ended up that way. As I said in the previous post, negative deviation like that is not really a bad news because overall the economy added 162K jobs, and this is first time we have a positive number before revisions. So I am not surprised USD/JPY was going up and up. Of course it was too small deviation to trade anyway but it shows how careful you have to be when you trade the news.

    Here is the chart:
    Forex news trading currency exchange charts

    I hope you got a few pips this week. For me it was a flat week.

    Anyway, have a good Sunday!
    --Crazy Cat
     
    #1 Crazy Cat, Apr 4, 2010
    Lasted edited by : Sep 8, 2016
  2. Laxmikant

    Laxmikant Recruit

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    Thanks for Signals

    Its good to get signals from you which is quite helpful, I mad e few pips on 2nd April,

    May I ask you one thing, why dont you suggest Other pair to Trade except USD/JPY...

    on 2nd Euro/USD and GBP/USD has better options to make few pips

    Thanks again
     
  3. Humphrey Croiset

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    Thanks for your Time & Signals !

    ---I was praciti$e trading :nerd:
     
  4. Humphrey Croiset

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    --- @ Laxmikant

    ---Are you a Happy Camper with eToro ?!?
    TIA for your response .
     
  5. dragonrabbit

    dragonrabbit Recruit

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    Thks for the info "Crazy Cat" . Actually the NFP is always a bit dangerous to trade as its a major announcement. I guess thats why many traders stay out !!
    I traded it and captured 60 pips @3 lots..gotta try / backtest my strategy again to see if it has a second success.
    BOJ Press Conference On Wednesday Apr 7th ------ & ------ @ 1.30pm Fed Chairman Bernanke speaks (USD / JPY) Yes im trading it again !!
     

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