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Wednesday September 14, 2011 NY TIME 8:30am EDT – US CORE Retail Sales

Discussion in 'Current Forex Trading Signals' started by Stavro D'Amore, Sep 13, 2011.

  1. Stavro D'Amore

    Stavro D'Amore Former FPA Special Consultant

    Joined:
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    Hello All

    Today we have US CORE retail sales, Please find my trade plan bellow on how I will trade this.

    US CORE Retail Sales
    Forecast 0.2%
    Previous 0.5%
    Pair to trade: USD/JPY and EUR/USD
    Estimated Pips: 40 pips on initial spike

    The numbers we will look for:
    BUY USD/JPY at 0.7%
    BUY EUR/USD at -0.3%

    Economical Impact: High (will bring strong volatility)
    Typical Result: Good for currency
    Occurrence: Released monthly

    Pip range estimated on last release

    [​IMG]


    About our Triggers:
    We will be looking for a deviation of 0.5 % to BUY USD/JPY and -0.5 to BUY EUR/USD.
    If our deviation is hit, there is a strong possibility that the market will move 40 pips on spike immediately; there is a good chance that we will get a 30% retracement before entering if we miss the spike.

    What is it? Why does the market care?
    Core Retail Sales measures the change in the total value of sales at the retail level in the U.S., excluding automobiles. It is an important indicator of consumer spending and is also considered as a pace indicator for the U.S. economy.

    A higher than expected reading should be taken as positive/bullish for the USD
    A lower than expected reading should be taken as negative/bearish for the USD.

    Method I use to trade this:
    Stavro D’Amore Trading Method

    Pre News
    There is no pre news for this release

    Spike Trading
    I do recommend spike trading as an option if you have an Auto clicker.
    Please use limit orders or bounds set to 15 pip entry

    After Spike
    I will look for a 30% retracement in the original spike before entering a trade; I will sell half my position as soon as I hit the original high point of the first initial spike and place a SL at entry price.

    My TP level would be just before a resistance level or if the chart decides to form a support level, looking at a 15 minute chart time frame. I expect to be in this trade for a total of 30 mins.

    Historical Chart and Data US CORE Retail Sales

    All the best

    Stavro D’Amore
     
    #1 Stavro D'Amore, Sep 13, 2011
    Lasted edited by : Sep 8, 2016

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