Hey folks:
It’s been an extremely busy week for me, but as far as news releases, this past week was relatively quiet. Here’s what happened with news trading:
NEWS TRADING
1. Tue August 10, 2010 2:15pm EDT – US Federal Funds Rate - Analysis Triggered – 60+ pips
2. Wed August 11, 2010 9:30pm EDT – AU Employment Change
3. Thu August 12, 2010 6:45pm EDT – NZ Retail Sales
4. Fri August 13, 2010 8:30am EDT – US Core CPI & Retail Sales
It depends on where you got in based on my FOMC analysis, there is actually a chance for over 120+ pips of gain if you were trading the GBP/USD pair. For the record, we’ll count 60+ Pips for the week based on news trading.
As far as weekly trend front, this is what I recommended:
Weekly Trend
1. BUY USD/CAD between 1.0100~1.0000
Market didn’t quite drop down to the 1.0100 level, but at the start of the week, we saw some strong trend reversal as indicated and USD/CAD moved up about 222 pips throughout the week. If you bought on any dips, you should have make some pips.
2. BUY USD/JPY between 85.00 ~ 85.10
Market dipped down below 85.00 and then bounced back up to the 86.33 as expected. If you got in around 85.00, you would have seen at least 130 pips by the end of the week.
Total pips for Weekly Trend: 130 Pips
And for pre-news trading, here is what we ended up this week:
Pre News Trading
1. For Australian Employment - “AUD/USD should be under pressure from the recent FOMC statement is casting doubt over global economic recovery. It is likely we’ll see some selling pressure on this pair, but not from the pre-news as Employment has been a strong area for the booming economy. I would be looking for a possible short-term bounce on account of pre-news, but I am still looking for long-term shorts for this pair and a bounce back could offer opportunities for a SELL.”
If you sold at all during preview session and even after the release, you should be looking at a maximum of 280 pips. As long as you SOLD.
2. For NZD Retail Sales - “With the general market under a strong risk aversion sentiment, NZD is trading lower and is likely to remain on this path until risk sentiment changes. With last week’s employment data at -0.3% versus the 0.5% expected and Unemployment rate soaring to 6.8% versus 6.3% expected, we should see some pre-selling of NZD/USD prior to the release.”
If you sold from the top around the 0.7200 area, there is a potential of picking up about 100 pips from this trade.
Total Pre-News Potential Pips: 380 pips
***
Total Potential Pips For The Week: 570 Pips.
However, this does not count the USD/CAD trend suggestion, which ended up with 220+ pips of gain; and remember my prediction of a major trend change? See what happened with the Euro?
I think what most traders need is direction. Entry/Exits doesn’t matter much, what matters is the RIGHT direction. If you’ve been following my directional bias throughout the week, you should be doing beautifully.
If you only picked up 25% of the total potential pips, you should still ended up with: 142 Pips.
SPECIAL MESSAGE FROM HENRY
If you like my signals and you have made some pips. This is what I need you to do: Share with me on how many pips you’ve made and share this post via Twitter and Facebook if you have accounts there… I know there are thousands of traders on HLFX but most don’t even take a second to post a comment. Please understand that writing these analyses is a VERY LONELY process, and the communication is one-way. If you don’t take the time to respond and show that you care (btw, sharing is caring), then services like this may not last long.
So if you care, then share!
Thank you,
Henry Liu
Related posts:
- Upcoming News Releases Of the Week December 6 ~ 10, 2010
- Upcoming Forex Tradable News for the week of January 10 ~ 14, 2011
- Upcoming Forex News Trade For the Week of January 3 ~ 7, 2011
- Upcoming Forex News Trade Forecast For August 1 ~ 5, 2011
- Forex News and Market Trend Wrap-up – Thanksgiving Week, Dubai World, UAE Support, JPY Strength…
- Upcoming Forex News Trade For August 8 ~ 12, 2011
- Upcoming High Impact Forex News For December 13 ~ 17, 2010
- Upcoming Forex News for May 23 ~ 27, 2011
- Forex Market Update & Analysis – 06/01/10
- Upcoming Forex News for May 9 ~ 13, 2011
{ 10 comments… read them below or add one }
Thanks Henry. I did long usd/jpy 84.78 and closed 86.25, also usd/cad i made 276 pips, i opened long 1.0124 and closed 1.04, but every dip i opened more long, i did more than 276 pips for usd/cad. Very nice, keep going Henry.
Henry,
What are the major news you trade on?
Jeffrey
Hi Henry,
Last week though it was a slow week ,there were some opportunities. I followed your advise and was able to scoop 210 PIP’s. Not as much as 570 +. But I am happy. Thanks to your guidance. Keep the good job going. God bless.
Bobby from Canada
At around 8am am trading USD after the release of high impact news that say I should go long and i trade on 4hour timeframe but around 10am am stiil in that position and there is another high impact news that say the value of USD has drop, what is the best action for me to do?
frankly speaking you are more than what i think you are in fact for the first time in my life trading forex i made profit from your analysis . i m more than happy, but i miss your 10-1m programm but can you give me a second chance ? thanks for your care love you. adegbuyi sunday
Hi
HENRY,from Nigeria we LOVE you keep up your good works.
Just awesome Henry… Thanks for your views.
thanks Henry managed to grab 280 pips out of them especially aud/usd you said something abt aud going to 089 level two weeks ago have been selling from 09000 thanks so much
Thanks Henry, you have been a wonderful help these few days.I made some pips on nzd/usd but overall I lost
them. I am trying to be consistent with your signals and directional tips. Pls continue writing,its great to read
and follow your signals.
Hi Henry!
I am a newbie from Hungary! I was following your advices most of the time, and fortunatelly picked up some pips, for example on friday 70 pips. Unfortunatelly I have made a lot of mistakes at eur/usd selling, and caused me a few euros lost. I hope I will do it better at this time. Thanks for the advices, and fro everything