UK GDP PROVIDES UP TO 150 PIPS FOR TRADERS

For our last trades we were looking at the UK GDP and the
Canadian CPI last Friday.  For the UK GDP, we were looking to
short the GBPUSD if the number came out at least 0.1% worse
than expected.  The actual figure came out with a -0.3%
deviation, so it met our trigger and many traders reported
getting in the trade.  Most traders reported up to 45 pips of
profit on the initial move, but a couple held on for longer and
made up to 150 pips!  To see a video of this trade, click on
the link below:

http://www.tradingliveonthenews.com/vid/UKGDP102408/

For the Canadian CPI, we were looking to short the EURCAD or
USDCAD if the number came out at least 0.2% better than
expected.  The actual number came out with no deviation, so it
did not meet our safe trigger and we did not enter a trade.  To
see a video of this trade, click on the link below:

http://www.tradingliveonthenews.com/vid/CADCPI102408/ 

OUR NEXT LIVE ON THE NEWS TRADE CALL

Our next trade opportunity will be on the US Durable Goods
report that will be released tomorrow at 8:30 am EDT.  We will
be focusing on the US Core Durable Goods figure, which is
expected to be -1.5%.  We will be looking for a deviation of
2.0% on this report to trigger a safe trade.  A higher than
expected number will trigger a buy on the USD/JPY.  This report
last met our safe trigger last month, and we had traders report
profits up to 25 pips on the trade.  To see a video of last
month’s trade, click on the link below:

http://www.tradingliveonthenews.com/vid/USDurableGoods092508/

This is our current outlook for this trade; however, it is
subject to change as market conditions may change by tomorrow.
Be sure to log in to the Live Trade Room 15 minutes prior to
the release to get my commentary on this potential trade.

FOREXTRADERSDAILY FORUMS

A quick reminder of our trading forums found at
http://www.forextradersdaily.com/forums. This is a community
that we have set up for traders so I encourage you to check it
out and enjoy the discussions there.

Good Luck!!!!

This entry was posted on Tuesday, October 28th, 2008 at 5:46 pm and is filed under US News Data. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.