Sir Pipsalot
Former FPA Special Consultant
- Messages
- 511
Hey folks,
I've been dealing with a nasty cold that's put me under the weather, so my trading this week has been pretty minimal and I always find it tougher to spot trades and handle them properly when I'm sick. Instead of skipping my signal today though, I'll just leave all of the trend and biasing stuff out of it and give you guys a preview of Friday's news:
0428 UK Manufacturing PMI (53.8 expected) - This report is really only tradable every now and then... not consistently; however, UK news has been doing quite well and last month's huge surprise did lead to very nice price action. I'd recommend giving this a try but doing so with wide triggers and staying out on a small to moderate surprise. If a 1.0 or more trigger is hit, it may still take a 1-3 minutes to reach it's potential, so there could be a chance to get in shortly after the news and ride that initial wave since it may not all come in the initial spike alone.
If it comes out at 54.8 or higher, GBP/USD should rally 35-50 pips.
If it comes out at 52.8 or lower, GBP/USD should drop 35-50 pips.
0830 Various small US reports - Income and Spending data along with Core PCE really hasn't moved the markets in quite some time, but it hasn't had big surprises either. This is worth watching if one of those numbers comes out way off, but I wouldn't consider it tradable until after we see it make a nice move one month.
1000 US ISM Manufacturing (55 expected) - This report has had some ups and downs, but in general it's working somewhat decently on USD/JPY, and even better in the stock market.
If it comes out at 56.5 or higher, USD/JPY should rally 30-40 pips, and the S&P 500 should rally 5-10 points.
If it comes out at 53.5 or lower, USD/JPY should drop 30-40 pips, and the S&P 500 should drop 5-10 points.
That's all for today's update. If you'd like to learn more about trading or trade along with myself and my collegues, come join us at Profit Mongers. Our subscription is very reasonable at $179 per month, and right now you can sign up for a 2 week trial to get started for only $29. This offer is for new customers only. If you have any questions, you can also email me at sirpipsalot@profitmongers.com
To our success!
Sir Pipsalot
I've been dealing with a nasty cold that's put me under the weather, so my trading this week has been pretty minimal and I always find it tougher to spot trades and handle them properly when I'm sick. Instead of skipping my signal today though, I'll just leave all of the trend and biasing stuff out of it and give you guys a preview of Friday's news:
0428 UK Manufacturing PMI (53.8 expected) - This report is really only tradable every now and then... not consistently; however, UK news has been doing quite well and last month's huge surprise did lead to very nice price action. I'd recommend giving this a try but doing so with wide triggers and staying out on a small to moderate surprise. If a 1.0 or more trigger is hit, it may still take a 1-3 minutes to reach it's potential, so there could be a chance to get in shortly after the news and ride that initial wave since it may not all come in the initial spike alone.
If it comes out at 54.8 or higher, GBP/USD should rally 35-50 pips.
If it comes out at 52.8 or lower, GBP/USD should drop 35-50 pips.
0830 Various small US reports - Income and Spending data along with Core PCE really hasn't moved the markets in quite some time, but it hasn't had big surprises either. This is worth watching if one of those numbers comes out way off, but I wouldn't consider it tradable until after we see it make a nice move one month.
1000 US ISM Manufacturing (55 expected) - This report has had some ups and downs, but in general it's working somewhat decently on USD/JPY, and even better in the stock market.
If it comes out at 56.5 or higher, USD/JPY should rally 30-40 pips, and the S&P 500 should rally 5-10 points.
If it comes out at 53.5 or lower, USD/JPY should drop 30-40 pips, and the S&P 500 should drop 5-10 points.
That's all for today's update. If you'd like to learn more about trading or trade along with myself and my collegues, come join us at Profit Mongers. Our subscription is very reasonable at $179 per month, and right now you can sign up for a 2 week trial to get started for only $29. This offer is for new customers only. If you have any questions, you can also email me at sirpipsalot@profitmongers.com
To our success!
Sir Pipsalot