Diamonds Trading Signals Summary - Wednesday, April 28 2021

Peter O

Special Consultant to the FPA

How does after spike forex news trading work?



Diamonds Trading Signals Trade Plan

Canada Core Retail Sales ⋯ 8:30am NY time (Wednesday, April 28)


Traded currency pairUSDCAD
Initial spike duration limit30 seconds
Initial spike price action threshold12 pips
Triggering retracement percentage40 %
Retracement duration limit60 seconds
Maximum trade hold time after release15 minutes
Stop loss10 pips
Take profit10 pips
Maximum spread2 pips

  1. If between 08:30:00am and 08:30:30am, so during the first 30 seconds you see USDCAD move up or down by 12 pips or more, then enter in the direction of the initial spike at the very first 40% retracement if it doesn't take more than 60 seconds (till 08:31:00am) – and if spread is at 2 pips or less. Set stop/loss at 10 pips, and set take/profit at 10 pips immediately.

  2. If the move either up or down was less than 12 pips during the first 30 seconds, then the actual number of the report did not generate sufficient interest in the market, and you simply skip the trade.

