BuyForexSignals.com

Hi there

I hope you are having a great day I know today was a slow day in terms of trading. I didn’t trade at all, since there were no important news announcements. If you still didn’t watch my live trading videos from Friday, I suggest you review them to learn a lot. You can watch them on this link:
http://www.forexdiamonds.com/performance.htm

Regardless of slow day, Rob Grespi still traded, and made a few pips. Of course, it wasn’t like Friday, where he made +107 pips. Today, he only made +27 pips total, which brought his performance for February so far to +1,262 pips total. He still has two more trading days to go until the end of the month You can watch his live trading videos by going to this link:
http://www.kingforexsignals.com/tradedetails/0207

Okay…let’s now talk about the day tomorrow I am very excited. We have a few decent trading opportunities.

1. Tuesday, February 27th, 2007 (8:30 am New York Time) USA
We have US Durable Goods coming out. Basically durable goods are orders that are placed to local manufacturers and companies for goods that have a lifespan for over 3 years. We have three numbers. First is Headline Durable Goods, which includes all orders. Second is Durable Goods X trasportation, which excludes all transportation related items, like cars, airplanes, etc. Third is Durable Goods X defense, which excludes all items that were placed by the military, like machine guns, tanks, etc. The number that most traders and economists focus on is the Durable Goods X Transportation, and I will focus on that as well. This indicator has some importance, but it’s not that important, and it has a lot of components, which complicate the situation a bit. So the moves on this report are usually quite fast and not sustained, unless the deviation is huge. And even then…remember last month? The X transportation number came out at 2.3% versus 0.5% expected, there were no conflicts, and we only saw a quick spike on GBP/USD of 30 pips, and then the price turned around, and went over 50 pips in the opposite direction. This month, the expectations of this number are at -0.2%, but the consensus among economists are all over the place, mostly leaning towards a negative reading though. If the number comes out at 1.5% or higher, it should be good for the dollar, so you can possibly go short on GBP/USD and expect around 30 pips move. If the number comes out at -2.0% or more negative, you can possibly go long on GBP/USD and also expect 30 pips move. If you don’t have Secret News Weapon or any other program that can get you in before the spike, I strongly recommend not to chase the move, wait and only get in if the price comes back to pre-release price. Also, watch out for the headline number, and it conflicts, I recommend staying out. I may personally trade with less conservative triggers than I gave you, but since a lot of beginners receive my signals, I prefer to give safer triggers in my emails.

2. Tuesday, February 27th, 2007 (10:00 am New York Time) USA
Then we have Consumer Confidence and Existing home sales coming out of the US. It is expected that consumer confidence will come out at around 108.5, which is lower than previous reading of 110.3. Existing home sales are expected to come out at 6.24M. Both numbers are important, however, existing home sales generally don’t deviate that much. Economists can predict this number very accurately. Because of that, my focus for initial spike will be on consumer confidence. If that number comes out at 111.0 or higher, it would be the highest reading in several years, should be good for the dollar, and we might see GBP/USD go down by around 50 pips or more. If the consumer confidence comes out at 105.0 or lower, it would be a huge drop from last reading of 110.3, so bad for the dollar, so we might see GBP/USD go up by around 50 pips or more. Again, I personally will probably use less conservative triggers, but if you want to be on a safer side, these triggers are good. Unlike durable goods, if you don’t have Secret News Weapon or forexdiamonds.com service, you may want to chase this position, as long as there are no conflicts on housing number, and you can get in within 15 to 20 pips of the initial move or better. Of course if there is a conflict on existing home sales, the move will probably be muted, and possibly even reversed…depending on how bad the conflict is. So if existing home sales conflict, I would get out rather sooner than later, or not trade at all.

3. Tuesday, February 27th, 2007 (6:50 pm New York Time) JAPAN
Then we have Industrial Production and Retail Sales coming out of Japan. Believe it or not, but traders don’t really care much about Japanese retail sales readings. It makes sense…since everybody focuses on the exports component of this small country with second largest economy in the world. And obviously exports heavily depend on industrial production, which includes both mining and manufacturing…obviously mining is a very small component, because there is not much to mine in Japan If the Industrial Production comes out at 0% or higher, it would be good for the yen, so we may see USD/JPY move down by around 50 to 60 pips. If the Industrial Production comes out at -3% or more negative, it would be the biggest drop since February of 2004, and probably would be bad for the yen, so we may possibly see USD/JPY go up by 50 to 60 pips. If the triggers are hit on the industrial production, I wouldn’t worry too much about conflicts on retail sales, unless the retail sales comes out deviating by 0.5% or more and is in the opposite direction, and even then it may be a good idea to get in at a better price and still go towards the direction of industrial production. It may take up to 1 hour for this move to fully manifest, assuming that my triggers are hit. So, if you don’t have a program to get you in before the spike, and my triggers are hit, you may want to chase, as long as your entry is within 15 pips or better.

That’s all for tomorrow No matter what happens…don’t worry…be happy

To Our Success!
-Felix Homogratus

1617 Broadway St., Suite 1001
New York, NY 10002
USA

This entry was posted on Tuesday, February 27th, 2007 at 8:45 am and is filed under BuyForexSignals. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.