This week’s focus is going to be Trichet’s Press Conference on Thursday, as EU is currently once again under scrutiny over sovereign debt concerns. Although ECB is not expected to announce any changes to its monetary policy, Trichet will at least have a chance to either calm or surprise the market with new measures. We’ll probably find out more as we approach Thursday as Trichet is likely to comment early on any potential surprises…
Forex Market Cycle Trading
We had a moderate trading week of 6 high impact news releases, but the market was far from being “Moderate”. We saw the EURUSD breaking above the 1.4500 then drop below the 1.4250, then back above the 1.4450 level. Market was pretty much driven initially by the weaker sentiment of the USD (as result of recent FOMC Statement), then by the rather disappointing results of Merkel and Sarkozy meeting, and then by the shock of the Philly Fed’s Manufacturing Index figure of -30.7 v 4.0E. Towards the NY session on Friday, market turned around and resumed USD weakness, with USDJPY hitting fresh all-time lows below 76.00 briefly, marking another milestone in the weaker USD sentiment… and not to mention that Spot Gold went above 1860 per ounce.
Contrary to popular belief, my Mastermind Mentoring program is “not” only about news trading. I’ve put together a list of videos on the live trades taken in the traderoom to show that news trading is only about 20% of what we do, and the other 80% is on how to read the market and take advantage of news effects that goes beyond the immediate 2 hours after the schedule…
Hey folks:
Henry Liu here again with an overview of upcoming high impact tradable releases for the week. As usual, I will be sending you more detailed analysis on each release about a day before their schedule.
So following the tradition, let’s look at what took place before last week:
EUR Gained 2.5% Against USD
GBP Gained 1.5% Against USD
CAD Lost 2.0% Against USD
AUD Lost 1.0% Against USD
NZD Remained Unchanged
JPY Gained 2.0% Against USD
CHF Gained 0.5% Against USD
We’ve got several trades this week that worked out according to my signals. I hope you were able to make some pips, I certainly did 
Here are the results:
NEWS TRADING
1. Tue July 20, 2010 9:00am EST (NY Time) CA BOC Overnight Rate- No Trade.
2. Thu July 22, 2010 4:30am EST (NY Time) UK Retail Sales m/m – No Trade
3. Thu July 22, 2010 8:30am EST (NY Time) CA Core Retail Sales m/m – Buy Trade Triggered – Up to 35 pips of profit
Today has been a tough day as I was literally glued in front of my PC trading… we don’t get FIVE tradable news everyday.
Anyways, I hope you did well, I picked up couple hundred pips on JPY pairs, as a matter of fact, I timed the entry on GBP/JPY right around 130.80, and if you were watching the market, you’d know that right now GBP/JPY is around 135.00 level…
Just uploaded a video from the last Friday’s live trading session (3/26/10) with my Mastermind Mentoring class. In this particular session I shared some of the most important principles of my trading system, including the importance of fundamental news, market perception, support/resistance levels, market timing, market cycle, and much much more.
This is an example of what I do almost everyday, and I think in this particular session I was able to pack tons of information in just about 18 minutes. If you like this video, please write your comments below. I’d love to hear from you.
