BuyForexSignals.com

Hi there

This signal is for March 1st! The spring is here! Woohoo I hope both you and I start off our spring with a windfall of pips. But before we start talking about the exciting day tomorrow, let’s first review what happened earlier today.

Earlier today, we were watching US GDP, Chicago PMI, New Home Sales, and Bernanke Speech. US GDP came out almost exactly as expected, so it was a no trade. Chicago PMI came out lower than expected, but it didn’t hit the trigger that I gave you yesterday. I personally entered into a trade with two units, and made something like 4 pips on each unit. I got the number at 9:42 am, and announced the trade to my forexdiamonds.com room then. The official release time was at 9:45 am, and the price didn’t really move all that much in those three minutes. I waited for several minutes, but as there was close to no price action, I ended up just taking +4 pips profit, because I didn’t want to be in, before the new home sales and Bernanke speech. Then new home sales came out way lower than expected, it was by far the biggest drop in new home sales that I’ve ever seen, and considering such negative PMI reading 15 minutes before, and considering that Bernanke’s was pretty pessimistic, I expected the dollar to weaken, which unfortunately didn’t happen. I closed my 2nd trade on new home sales for a loss of -3 pips on each unit, even though large number of people in the room got about 6 pips better fill than me, and got out with some profits. So it was pretty much a slightly profitable/break even day for me. I suggest you watch my live trading videos by going to this link. I am convinced that you will learn a lot: http://www.forexdiamonds.com/performance.htm

Rob Grespi from kingforexsignals.com made so many pips today that I am afraid to mention it… This guy is a pip making animal with no mercy. All subscribers of kingforexsignals.com are having a big dinner party on March 31st, in Los Angeles. Rob is planning to bring a whip and everybody who is still not making money with his service will be whipped. Everybody who is a subscriber and doesn’t show up for the party will be whipped too Rob made +286 pips today, which concluded his performance for the month of February at +1,633 pips total. All losing trades, as always, have been kept extremely small, and a lot of winners today were just huge. Crazy Cat, the video guy is working his butt off to post all Rob’s trading videos for today. They may be already available as you are reading this. Check on this link: http://www.kingforexsignals.com/tradedetails/0207 I know Rob’s performance is almost too good to be true…that’s why we record every single trade, where you can see live all exact entries and exits, and you can see other people in the room giving their feedback of the fills they are getting, and the amount of profits or losses they are making.

Okay, enough reviewing Let’s talk about what’s going on tomorrow, Thursday.

1. Thursday, March 1st, 2007 (4:30 am New York Time) UK
We have UK manufacturing PMI coming out, which measures manufacturing activity in the UK. It’s expected to come out at around 53 or so. If the number comes out at 55.2 or higher, it would be the highest reading on this indicator ever, and GBP/USD may possibly increase by 50 to 70 pips. If the number comes out at 50.7 or lower, it would be the lowest readign ever, and GBP/USD may possibly decrease by 50 to 70 pips. If my trigger is hit, I am expecting the price to take off, and not look back much, so be aware of that, if you can get in within 20 pips of the initial move, it may still be worth it. I personally will probably be trading with less conservative triggers, but my trade will heavily depend on where the price is at before the report, and what the report reads. What I gave you are very nice and safe rule of thumb triggers in my opinion. We do have mortgage approvals coming out at the same time, which is expected at 115K or so. This is not an important indicator, unless it’s a shocking reading. So if you see a conflict on mortgage approvals of more than 20K, just be aware of what the price does, and secure your profits by trailing a stop/loss.

2. Thursday, March 1st, 2007 (8:30 am New York Time) USA
Then we have US PCE core coming out for the month of January. This is an inflationary measure, and it’s expected at 0.2%. Even a deviation of 0.1% will probably move the GBP/USD by at least 30 pips, but if you want a nice sustained safe move of 50 pips or more, then if the number comes out at 0.4% or higher, it would probably be good for the dollar short term, so GBP/USD may decrease by 50 to 100 pips or more. If the number comes out at 0.0% or lower, it would probably be bad for the dollar short term, so GBP/USD may increase by 50 to 100 pips or more.

3. Thursday, March 1st, 2007 (10:00 am New York Time) USA
We have ISM manufacturing coming out. It’s one of my favorite reports, and considering how much it moves the market, and how often it deviates from consensus, I am sure I am not the only one who likes it I’ve seen this report move GBP/USD by as much as 130 pips in less than an hour. It’s expected that this report will come out, reading 50. Remember, Chicago PMI came out at 47.9 today, so most traders will be waiting for a downward surprise, since Chicago PMI tends to predict ISM Manufacturing most of the time. So a surprise down probably won’t be as powerful, but still should move the market. If ISM manufacturing comes out reading 52 or higher, it would be the highest reading in the last 5 months, and GBP/USD may possibly decrease by 50 to 70 pips or more, since higher than expected reading would be good for the dollar. If ISM Manufacturing comes out at 48 or lower, it would be the lowest reading since April of 2003, bad for the dollar, so GBP/USD may possibly increase by 50 to 70 pips or more. If this report deviates and hits the triggers, most likely we’ll see a sharp move without much retracement, so you can chase it if you like, but make sure that your entry is still within reasonable amount of pips to warrant good risk/reward ratio. I may personally trade it with a lesser deviation, but what I gave you, I consider as safe, and such deviation is very real for this report.

4. Thursday, March 1st, 2007 (12:00 pm New York Time) USA
We have Paulson speaking. Paulson is treasury secretary of the US and the guy that a lot of traders watch and react on, especially in the currency markets. He may even have more influence than Ben Bernanke. I am personally planning to stay out of this speech, but you may want to stay out of the market between 12:00 pm and 1:00 pm, just in case.

5. Thursday, March 1st, 2007 (6:30 pm New York Time) JAPAN
We have Japanese CPI figures coming out. CPI measures inflation, and its reading is crucial for Japanese interest rate policy settings. We have national CPI coming out for the month of January, and we have Tokyo CPI coming out for the month of February. Main focus will probably be on Tokyo CPI x fresh food, year over year, which is expected to come out at 0.1%. Even though the consensus is at 0.1%, quite a few economists think that it might come out at 0%, or 0.2%. A relatively safe trigger would probably be at 0.3% or -0.1%. So if this number reads 0.3% or higher, it would probably be good for the yen, and USD/JPY may possibly decrease by 50 pips or more. If the number comes out at -0.1% or more negative, it would be bad for the yen, so USD/JPY may possibly increase by 50 pips or more. Watch out for conflicts in other numbers, but if the triggers on this one are hit, I think it will overshadow all the other readings.

6. Thursday, March 1st, 2007 (7:30 pm New York Time) AUSTRALIA
We have Retail Sales coming out of Australia, that are expected at 0.5% or so. I believe that if the reading is at 1.0% or higher, AUD/USD may possibly increase by 30 pips or more, since it would be good for the Australian dollar. If the reading is at 0% or negative, AUD/USD may possibly decrease by 30 pips or more, since it would be bad for the Australian dollar. These triggers are very conservative, and in my opinion are very safe. We do have current account balance coming out of Australia at the same time, and even though the report has little significance and usually doesn’t move the Aussie that much, still be aware of any conflicts on that. It’s expected to come out at around -14Billion. I personally may trade with less conservative triggers on the AUD/USD, but if you are trading by yourself, and you are relatively new to news trading, I suggest sticking to the triggers that I gave here.

I hope that’s enough for you for tomorrow…and don’t forget to get good sleep…even though it will be difficult, since we have reports coming out of every major time frame around the globe

If you wanted to join forexdiamonds.com, in order to trade live with me, and you wanted to get in on scholarship special, make sure you are on the waiting list, that can be joined here:
http://www.forexdiamonds.com/join.htm
And make sure to wait for the scholarship special email, tomorrow, Thursday, at 11:00 pm New York Time, sharp.

To Our Success!
-Felix Homogratus

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

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