Sep 2 2010
Learn this powerful
Fibonacci Retracement method FREE that pulls 500+ pips per trade. Get these
Forex Scalping Cheatsheets plus the 10X Scalping System FREE. Discover Henry Liu's
1K to 1MM Trading Formula! Henry Liu: I've decided to keep newsletter short and sweet. If you prefer to look at the numbers and get right on to trading, then you are going to love the new format. If you want more detailed analysis, you can always read them at my blog where I share a much more detailed analysis and sometimes with a pre-recorded video to get you familiarize with trading the news...
***
NEWS TRADING
Tuesday, August 24 2010
[8:30am NY Time]
We're getting the Core Retail Sales release from Canada today, and it is a high impact release which may change the short term trend of the market for CAD. Let's look at the forecast:
Core Retail Sales Forecast 0.1% Previous -0.1%
ACTION: USD/CAD BUY -0.5% SELL 0.7%
The Trade Plan
I'm going to be looking for a deviation of 0.6% for this news. Since the forecast is at +0.1%, if we get a -0.5% or worse, it would be negative for the CAD and we'll be looking to BUY USD/CAD; however, if the opposite is true, or a 0.7% of actual release, I'll be looking to SELL USD/CAD. I'll be looking to trade this release using my after-news retracement method. The idea is to wait for the release, wait for market to spike first, and then wait for a decent retracement before getting in. For a more detailed analysis including Market and Pre-News, please read:
[10:00am NY Time]
US Existing Home Sales is expected to decline from previous month as current market situation is adding more pressure to the housing sector. Here's forecast:
Existing Home Sales Forecast 4.70M Previous 5.37M ACTION: USD/JPY BUY 5.10M SELL 4.30M
The Trade Plan
Because the Housing sector is one of the most important news events out of the US, this release will certainly cause some volatility in the market, especially if our tradable figures (+/- 400K) were hit. With the focus of the nation, and of the world, on the status of U.S. housing sector, this release may bring about a strong sentiment of risk appetite/aversion if our BUY/SELL trigger is hit...
If our buy tradable deviation is hit, or 5.10M figure is released, we should look to BUY USD/JPY (or GBP/JPY) after the release. If our sell tradable deviation is hit, or 4.10M figure is release, we should look to SELL USD/JPY (or GBP/JPY) as risk sentiment should turn towards aversion.
We'll be looking to trade this release using the after-news retracement trading method. We'll wait for the release, wait for market reaction, and wait for retracement before jumping in. For a more detailed analysis including Market and Pre-News, please visit my blog.. Just a quick heads up...I've closed registration for 10Kto1MM formula 10 days ago and all of the seats were taken... After sorting out all of the duplicate orders and some cancellation requests ranging from emergency, personal reasons, or just plain old buyer's remorse, a few more seats just became available... So I'm going to re-open registration for those who missed the last registration, and the doors will open again on Tuesday August 24, 2010 at exactly 12:01pm EDT. Registration will last only 12 hours, and will end at precisely 11:59pm EDT. I've also decided to keep 10Kto1MM at the bonus price because last time I changed price back to normal, for about 77 minutes, I've gotten over 40 phone calls and 120 emails requesting bonus price... So for the duration of this registration, I'd let everyone in at the same low price... I think it's only fair.
RSS FEED