On Friday, Feb 19th (04:30 am New York Time) we will have UK Retail Sales m/m coming out. It is expected to read -0.6 Last month it read 0.3.
This is one of the best reports to trade.
Please read what this indicator means and how it affects the GBP/USD by going to this link: UK Retail Sales
The trigger for this indicator is 0.5. This means that if UK Retail Sales m/m comes out at -0.1 (or safer level is 0.0) or higher, GBP/USD will probably go up by 40 pips or more in the first 45 minutes of the report. If it comes out at -1.1 or more negative, GBP/USD will probably go down by 40 pips or more in the first 45 minutes of the report.
Obviously, the bigger the difference between expected and actual numbers, the bigger will be the move.
In addition to the UK Retail Sales m/m number, we will have UK Retail Sales y/y coming out. If they conflict, I recommend skipping the trade, but since m/m is part of y/y number, and our trigger is quite large, the conflict is almost impossible.
To read the after-spike retracement strategy for this report click here: UK Retail Sales (after-spike retracement strategy)
For example: on Jan 22nd, UK Retail Sales m/m came out at 0.3, versus an expectation of 1.1. GBP/USD went down by around 50 pips. See for yourself what happened on this chart: Forex news trading currency exchange charts
Thursday 18 February 2010
Tuesday 9 February 2010
The March NASDAQ 100 closed higher due to short covering on Tuesday
The vast majority of traders are operating under widely-heldmisconceptions that unknowingly derail their best trading efforts
The March NASDAQ 100 closed higher due to short covering on Tuesday as it extended the rebound off the 75% retracement level of the November-January rally crossing at 1711.43. Today's mid-range close sets the stage for a steady opening on Wednesday. Stochastics and the RSI are diverging but are turning neutral hinting that a low might be in or is near. Closes above last Thursday's high crossing at 1792.00 are needed to confirm that a short-term low has been posted. If March extends the decline off January's high, the 87% retracement level of the November-January rally crossing at 1679.96 is the next downside target. First resistance is last Thursday's high crossing at 1792.00. Second resistance is the 20-day moving average crossing at 1804.22. First support is last Friday's low crossing at 1710.75. Second support is the 87% retracement level of the November-January rally crossing at 1679.96. The March S&P 500 index closed higher due to short covering on Tuesday as it consolidated some of the decline off January's high. The high-range close sets the stage for a steady to higher opening on Wednesday. Stochastics and the RSI are diverging but are turning neutral hinting that a short-term low might be in or is near. Closes above the 20-day moving average crossing at 1099.11 are needed to confirm that a short-term low has been posted. If March extends the decline off January's high, the 87% retracement level of the November-January rally crossing at 1036.92 is the next downside target. First resistance is the 10-day moving average crossing at 1076.77. Second resistance is the 20-day moving average crossing at 1099.11. First support is last Friday's low crossing at 1041.00. Second support is the 87% retracement level of the November-January rally crossing at 1036.92. The Dow closed higher due to short covering on Tuesday as it consolidated some of this year's decline. Stocks rallied this afternoon on ideas that European officials will rescue Greece from its debt problems. This renewed hope of a financial rescue reassured investors following a four-week sell off and underpinned today's rally in the US stock market. Stochastics and the RSI are diverging and are turning neutral hinting that a short-term low might be in or is near. Closes above the 20-day moving average crossing at 10,304 are needed to confirm that a short-term low has been posted. If the Dow extends the decline off January's high, the 87% retracement level of the November-January rally crossing at 9,810 is the next downside target. First resistance is today's high crossing at 10,139. Second resistance is the 20-day moving average crossing at 10,304. First support is last Friday's low crossing at 9,835. Second support is the 87% retracement level of the November-January rallycrossing at 9,810.
The March NASDAQ 100 closed higher due to short covering on Tuesday as it extended the rebound off the 75% retracement level of the November-January rally crossing at 1711.43. Today's mid-range close sets the stage for a steady opening on Wednesday. Stochastics and the RSI are diverging but are turning neutral hinting that a low might be in or is near. Closes above last Thursday's high crossing at 1792.00 are needed to confirm that a short-term low has been posted. If March extends the decline off January's high, the 87% retracement level of the November-January rally crossing at 1679.96 is the next downside target. First resistance is last Thursday's high crossing at 1792.00. Second resistance is the 20-day moving average crossing at 1804.22. First support is last Friday's low crossing at 1710.75. Second support is the 87% retracement level of the November-January rally crossing at 1679.96. The March S&P 500 index closed higher due to short covering on Tuesday as it consolidated some of the decline off January's high. The high-range close sets the stage for a steady to higher opening on Wednesday. Stochastics and the RSI are diverging but are turning neutral hinting that a short-term low might be in or is near. Closes above the 20-day moving average crossing at 1099.11 are needed to confirm that a short-term low has been posted. If March extends the decline off January's high, the 87% retracement level of the November-January rally crossing at 1036.92 is the next downside target. First resistance is the 10-day moving average crossing at 1076.77. Second resistance is the 20-day moving average crossing at 1099.11. First support is last Friday's low crossing at 1041.00. Second support is the 87% retracement level of the November-January rally crossing at 1036.92. The Dow closed higher due to short covering on Tuesday as it consolidated some of this year's decline. Stocks rallied this afternoon on ideas that European officials will rescue Greece from its debt problems. This renewed hope of a financial rescue reassured investors following a four-week sell off and underpinned today's rally in the US stock market. Stochastics and the RSI are diverging and are turning neutral hinting that a short-term low might be in or is near. Closes above the 20-day moving average crossing at 10,304 are needed to confirm that a short-term low has been posted. If the Dow extends the decline off January's high, the 87% retracement level of the November-January rally crossing at 9,810 is the next downside target. First resistance is today's high crossing at 10,139. Second resistance is the 20-day moving average crossing at 10,304. First support is last Friday's low crossing at 9,835. Second support is the 87% retracement level of the November-January rallycrossing at 9,810.
Subscribe to:
Posts (Atom)