Hey folks:
It was a great week for news trading as most high impact tradable news releases were scheduled apart for maximum market movement. Here’s what happened:
1. Tue August 17, 2010 4:30am EDT – UK CPI y/y – No Trade
2. Wed August 18, 2010 4:30am EDT – UK MPC Meeting Minutes Trade Triggered – 120+ pips of potential
3. Thu August 19, 2010 4:30am EDT – UK Retail Sales Trade Triggered – 162 Pips of Potential
4. Fri August 20, 2010 7:00am EDT – CA Core CPI No Trade
Total Potential Pips: 282 Pips.
***
As far as weekly trend, this is what I wrote:
As I’ve said time and again, when we have a strong week, such as the one we saw last week, we are most likely to see some consolidation before the market moves further. I do believe that the short-term trend has changed towards pro-USD, but we may see some rebounding and consolidation… therefore, I believe we could get better positioning if we just remain a bit patient.
I’d still be looking to go LONG on USD/JPY and USD/CAD. I’d be looking at support levels to BUY these pairs if given the chance…
As far as EUR/USD is concerned. I’m eyeing the 1.2900~1.3000 area for possible SELL. Even though EUR/USD is at 1.2750 level at the time of this post, we could get a rally back above those levels on a positive news from Europe, possibly the German Zew Economic Sentiment on Tuesday. The idea is to wait for the release and look for the best area to sell. A positive ZEW release is NOT enough to change the trend on EUR. It may provide temporary support, but eventually EUR/USD will head towards the 1.2000.
1. USDCAD dropped to the Support at 1.0250 and when up to the 1.0500, giving us about 250+ pips of potential Gain.
2. USDJPY dropped to the support at 85.00 3 times, each giving us a chance at 50+ pips of gain.
3. EUR/USD consolidated above the 1.2910 area, then at the closing on Friday it’s back around 1.2700 = 210 Pips of Gain.
Total Weekly Trend Potential Pips = 510 Pips
***
Pre-News Trading:
1. UK CPI (08/17) Pre-selling would yield about 50+ pips if you waited to enter at the top.
2. UK MPC (08/18) Pre-selling would yield up to 88+ pips if you got in early Asian session.
3. UK Retail (08/19) Pre-selling would yield up to 92+ pips. The entire Asian market was selling off GBP.
4. CA CPI m/m (08/20) Pre-selling would give you a negative on this trade, as the entire market was driven by risk sentiment. If you hold on to the last minute and got in at the worst entry, you are looking at -120 Pips… (however, pre-news didn’t fail because of wrong analysis, it failed because of risk aversion sentiment… you can check other charts and see it was an one-way street for USD and JPY which gained across the board).
Total Potential Pips on Pre-news = 110 Pips.
***
Total Potential Pips as result of this week’s analysis: 902
If you only got 25% of that, you are looking at:225 pips.
If you made some pips this week as a result of my analysis. I’d love to hear from you. Please kindly share them here by commenting below.
Also if you use Twitter and Facebook, you can easily share my analysis by clicking on the share buttons above…
Thank you!
Henry
Related posts:
- Upcoming Forex News Trade Forecast For August 1 ~ 5, 2011
- Upcoming Forex News Trade For August 8 ~ 12, 2011
- Upcoming News Releases Of the Week December 6 ~ 10, 2010
- Upcoming High Impact Forex News For December 13 ~ 17, 2010
- Forex Trade Signal For US New Home Sales 09/24/10
- Upcoming Forex News for May 23 ~ 27, 2011
- Forex Strategy For US New Home Sales – August 23, 2011
- Forex Market Weekly Analysis March 22, 2010
- UK Retail Sales m/m 02/19/2010
- UK Retail Sales 03/25/2010
{ 37 comments… read them below or add one }
Henry Liu
please ad my email to the FREE TRADE ALERTS as the popup doesnt seem to be working for me
jodywbrown@hotmail.com
Hi Henry,
You know I’m a great fan of you?
I am in Ghana. And I haven’t started trading yet.
I’m sure you remember in a mail I sent you that I have taken some Fundamental classes.
yes.
I want to trade when I have had my Technical class so that I’ll be able to go about the trend lines and even know how to place trades and the likes.
But right now I want to buy your e-book so I can have full access to all other bonuses. The issue is that credit card payment is not functional in Ghana where I come from.
How do you recommend I make payment for the e-book? Please give me details as to what to do. I look forward to trading with you
Thanks for all your sacrifices.
I have been following your analysis;It is great but the painful things is that I haven’t started.THANKS A LOT
Hi Henry,
Account is up 478.65% since you launched 10k to 1MM, trading ultra conservative. I wish I had been at my desk for UK Retail Sales, was at work! Your ship came in on that trade Henry – share the video – as long as you didn’t wait for a retracement! My latest slogan is : FUNCTION DETERMINES FORM
Andrew
Hi Henry ,
I have read your job.
It is a nice job henry continue with the news.
Bye for today.
ZESU.
Addis Ababa, Ethiopia.
East Africa.
Hi Henry,
I haven’t started trading yet.I am still studying and observing.
But your e-book states: “It is particularly important that we only take a trade when our expected deviation is hit, not we get a close enough deviation…….”
I observed that some of your expected deviations were not met:
“4:30am NY Time UK CPI y/y Forecast 3.1% Previous 3.2%
ACTION: GBP/USD BUY 3.4% SELL 2.8% AND We are looking for a safe deviation of 0.3% for SELL and 0.3% for
BUY. But the Actual came with no deviation. It was also 3.1% Did you trade?
The same applies to the MPC Meeting Minutes :
“UK MPC Meeting Minutes Forecast 1-0-8 Previous 1-0-7
ACTION: GBP/USD BUY (2 Vote For Hike) / SELL (2 Vote For QE)”
I clearly cant make out the deviation.
please did you trade on these occasion?
How???????????
UK CPI was a no trade.
UK MPC Minutes was more based on sentiment. You should read my analysis in its entirety.
http://www.henryliuforex.com/2394/forex-trade-plan-video-for-uk-mpc-meeting-minutes-081810/
Thank you Henry,
It was a remarkable start of 10k to1M. I have 23% profit of invested fund.
Would be good if you could guide us How much money we use on every of your recommendation percentage vise.
Thanks again.
Peter
I did not receive your email
wow..henry..u did very well on trading and i must learn from you
good job
Hi Henry,
It is another week of victory. 513 pips . Not a bad week. I am all full of smiles in Canada.
Thanks a million to your accurate predictions. This would have not been possible at all without you giving nature.
God bless you. I cant wait for this week.
Thank you once again.
Bobby from Canada
Thank you so much for spending so much time to write these updates. Please how can I have access to your weekly trend post?
You need to be my Ebook customer first.
Hi Henry,
My congratulation you have brilliant job this week. 456 pips only per two days trade
You are great.
God bless you.
Thank,thank,thank…
Yuri from Ukraine
Where do I get this E-Book? Can I have the link to the page? All the same, you are doing a great job.
Job well done Henry 360pips though I just joined last week Thursday. Great job Henry.
Hello Henry,
though last week i didnt trade, cos I lost my fund the previous week. However, your signals and signs have been really wonderful. But, of kately i am yet to utilise them well to my advantage.
I have a questions, the above pips, do you only get then immediately after the news break or the long term effect after the news. please advice here.
Many thanks.
Hi
master of forex trade
last week was just too good for me.
l made about 575pips by followin your analysis.
thanks.
l look up to you for more.
Hi dear Henry. Because of your help I was able to get 75 pips. Thank you so much. Have a nise week.
good job henry..300 pips by your signal
good job henry..300 pip by your signal
Thanks Henry for your generous sharing.
I learned a lot from your news trading strategy.
U are a real pro.
God bless u.
Hi
Am from India . We can only trade in forex with INR ie USD-INR , EUR-INR ….But v can’t trade USD-EUR etc ….Can v take advantage of your recommendations and interpret them in the INR context ?
hi henry
buy sell pre news after news spike after spike retracement and incorporating time zones all very confusing it will take a while before i become confident enough to trade but i can see you know how its done thats why i joined your 10k to 1MM group hope we do well.
I was attempting to sign up for free trade alerts. It keeps indicating I don’t have an email address
Please go to the top right of the page and enter your name and email. It goes to the same alert list.
Thanks Henry I made over 300 quality pips trading with you this week!! Keep up the good work!!
Jeff
Hi Henry thanks for the weekely news letter has been really beneficial and improved my trading knowledge.
Hi Henry
Made 315 pips. thank you.
Made 502 pips (still in eur/usd) thanks henry for your hard work
helo, mr henry liu, i am still looking for right chanel in forex , how can you help out becouse i have been seen defferent testimonies from other trader
Yes I did indeed benefit from your tips this week, great job HL !
Thank you vary much for your help…. I was able to get 125 pips by following your signal…..God bless you for all the good work.
pls i hv been reading ur mails but dont seem to understand ur pre news trades.pls enlighten me.
Also try to give me ur resistance and support to set on my chart.i think it will help a lot of ur followers.
Thanks n keep up the good work
Hi Henry,
Your weekly news letter gave me confidence to short the Aus/Usd and helped me gain +150 pips.
Great stuff
Steve
Nice job henry,i took some profit too.Looking forward to a great week
Hi Henry, i made 60 pips from the UK trade sales. Its probably the one of the stress free trade i ever take. the trade went positive as soon as i enter. It feels good. Thank You for your analysis.