2008 April | Forex Traders Daily

Live Trade Call for May 1st, 2008

By Dustin ⋅ Wednesday, 30 of April, 2008 3:13 pm ⋅ Post a comment

TRADE CALL RECAP
This morning we were watching the Canadian GDP report. We were
looking to short the USD/CAD if the report came out at least
0.2% better than expected. (…)

Trade Calls for April 30, 2008 / Bank Flow Weekly Recap

By Dustin ⋅ Tuesday, 29 of April, 2008 4:31 pm ⋅ Post a comment

TRADE CALL RECAP
For our last live trade call, we were watching the UK GDP
report that was released last Friday. We were going to trade
if the deviation was 0.1% or higher. The actual number came
out with no deviation, so it did not meet our trigger and we
did not get in a trade on this release. To see the video of
this news event, click on the links below:
http://www.tradingliveonthenews.com/vid/UKGDP042508/
OUR NEXT LIVE ON THE NEWS TRADE CALLS
Tomorrow we will have two opportunities to trade when the US
GDP and Canadian GDP reports will be released at 8:30 am EDT. (…)

04/29/08 Bank Flow Update

By Dustin ⋅ Tuesday, 29 of April, 2008 10:09 am ⋅ Post a comment

Update USDCAD:
Current Price: 1.0141 at 11:00 EDT – This pair continues to range today between 1.0170 and 1.0110. I will still watch for these levels. 1.0025 for buys and 1.0225 for sells. (…)

Bank Flow Update

By Dustin ⋅ Monday, 28 of April, 2008 10:52 am ⋅ Post a comment

Update USDCAD:
Current Price: 1.0168 at 11:40 EDT – Last week in the Bank Flow room we mentioned that 1.0245 and 1.0280 on the USDCAD are the next levels we will be watching for sells. (…)

Jobless Claims Provides up to 35 Pips of Profit / Live Trade Call for April 25, 2008

By Dustin ⋅ Thursday, 24 of April, 2008 4:18 pm ⋅ Post a comment

JOBLESS CLAIMS PROVIDES UP TO 35 PIPS OF PROFIT
This morning we were watching two reports. The first was the
UK Retail Sales report, and we were looking to sell the GBPUSD
if the number came out at least 0.5% worse than expected. The
actual number came out with a -0.1% deviation, so it did not
meet our triggers and we did not get in this trade. To see a
video of this trade, click on the link below:
http://www.tradingliveonthenews.com/vid/UKRetailSales042408/
The next opportunity came when the US Durable Goods report and
the US Weekly Jobless Claims numbers were released at the same
time. I mentioned that your focus should be on the Jobless
Claims figure as that has seemed to have more of an impact on
the market than the Durable Goods report lately. I told you to
set a trigger of 20k jobs for this particular release. The
actual number came out 33k better than expected, so it met our
safe trigger and we had many traders enter a buy on the
USD/JPY. We had traders report profits of up to 35 pips on
this trade. To see the video of this trade, click on the link
below:
http://www.tradingliveonthenews.com/vid/USDurGoodsJobless042408/
OUR NEXT LIVE ON THE NEWS TRADE CALL
Our next live news trade opportunity will be on the UK GDP
Report that will be released tomorrow at 4:30 am EDT. The
expected number for this report is 0.6%. A higher than
expected number will be good for the GBP and signal a long on
the GBP/USD, and a lower than expected number will be bad for
the GBP and signal a short on the GBP/USD. We will be looking
for a deviation of 0.2% on this report to trigger us into a
safe trade. We may decide to lower the trigger tomorrow as
this report seldom meets our safe trigger. We have seen moves
of 25 to 50 pips on a medium trigger recently. (…)

Bank Flow Update

By Dustin ⋅ Thursday, 24 of April, 2008 9:45 am ⋅ Post a comment

USDCAD:
Current Price: 1.0189 USDCAD at 10:40 EDT - Today in the Bank Flow room we mentioned that 1.0245 and 1.0280 on the USDCAD are the next levels we will be watching for sells. (…)

USDJPY Update

By Dustin ⋅ Thursday, 24 of April, 2008 8:15 am ⋅ Post a comment

For those of you that were following this pair, I posted yesterday that I was watching for sells at the 103.85 to 103.95 area. (…)

CAD Retail Sales Provides up to 50 Pips for Traders / Live Trade Calls for April 24, 2008

By Dustin ⋅ Wednesday, 23 of April, 2008 4:07 pm ⋅ Post a comment

CANADIAN RETAIL SALES PROVIDES UP TO 50 PIPS FOR TRADERS
This morning we were watching the Canadian Retail Sales
figures, and we were looking to long the USD/CAD and EUR/CAD if
the number came out at least 0.4% worse than expected. The
actual number came out with a deviation of -0.7%, so it met our
safe buy trigger and many traders entered this trade. We
received reports of up to 40 pips of profit on the USD/CAD and
up to 50 pips on the EUR/CAD. To see the video from this
trade, click on the link below:
http://www.tradingliveonthenews.com/vid/CADRetailSales032508/
OUR NEXT LIVE ON THE NEWS TRADE CALLS
We will have two opportunities for trades tomorrow. The first
and best opportunity will be on the UK Retail Sales Report that
will be released tomorrow at 4:30 am EDT. The expected number
for this report is -0.3%. A higher than expected number will
be good for the GBP and signal a long on the GBP/USD, and a
lower than expected number will be bad for the GBP and signal a
short on the GBP/USD. We will be looking for a deviation of
0.5% on this report to trigger us into a safe trade. We may
decide to lower the trigger tomorrow as we have seen some
better moves on this report recently, even with lower triggers. (…)

Weekly outlook for Commodities

By Derek ⋅ Wednesday, 23 of April, 2008 1:54 pm ⋅ Post a comment

General Comments:
Commodities have been trying to extend the rally we have seen but besides Crude Oil, most commodities are quite a bit below their highs. We are looking for a consolidation range to become the new near term norm. We are expecting a lot of two sided chop with little to no directional bias for some time. �
Crude Oil:�
Crude oil is in its speculative blow off phase and we could see it run all the way over 120 before beginning to fall back. We are still holding the puts we bought last week and are expecting to add to the position on the next spike to new highs. There is little if any justification for this price and in the near term we see downside momentum as more sustainable than upside.�
Natural Gas:
We still see this market nearing a top and remain short. We are looking for the energy sector as a whole to stage a substantial correction this week.�
S&P500:
As we mentioned last week, we were exiting our shorts and entering longs at or near 1325. We are now long from an average price of 1334 with stops working below 1355 so we have a 21 point gain locked in at this time. We do not expect the S&P to have much if any follow through ability if it breaks out above 1400 so we are looking to exit our longs at or near 1400 and then again begin to go short.�
Bonds:
Bonds really broke down last week and we used that to exit the 119 puts we mentioned in past issues. We are now looking at buying some June 118 calls for 1k or less, targeting a move back to 120 by expiration.�
Metals:
Gold had a sizeable break late last week but seems poised to get back to the rally this week. We are still holding our long Butterfly and expect to see Gold retest the 950 level this week. We will begin to exit this trade if possible once we trade above 975. Silver of course followed gold lower late last week and this is a dip I would buy with stops below 1630 basis May. Copper is still consolidating and for now we are flat this market and intend to remain flat until this market shows us what it wants to do next. �
Grains:
Wheat continues to trend down and we are still targeting lower prices before we bounce. We are expecting Wheat to find support near 8.00 and would expect a sideways consolidation to begin once that point is tested. (…)