TRADE CALL RECAP
Last Friday we were watching three releases. The first was the Canadian Labor Change report, and we were looking forward to this release as it is usually a good trade. We were looking to sell the EURCAD and USDCAD if the number came out at least 15k better than expected. The actual number came out with a deviation of about 25k, so it met our safe trigger and we entered a trade. Our traders reported profits of up to 25 pips on this trade. The video of this trade is below.
httpv://www.youtube.com/watch?v=6ieM0QaMEnw
We also watched the US and Canadian Trade Balance releases, and we were focused more on the Canadian Trade Balance and looking to buy the EURCAD if the number came out at least $0.8 Billion worse than expected. The data has not had much of an effect on the market lately, so I didn’t trade this release and I recommended extreme caution. When it did come in the actual number came out with a deviation of -$1.1 Billion, so it met our trigger. The market only moved about 5 to 10 pips so it was good that we didn’t attempt to trade this release. The video of this trade is below.
httpv://www.youtube.com/watch?v=-ye61V4PFBc
OUR NEXT LIVE ON THE NEWS TRADE CALL
Tomorrow we will have an opportunity for a trade when the UK CPI report is released at 4:30 am EDT. There are several components to this release, and we will be focusing on the UK CPI (EU Harmonized YoY) figure. The expectation for this report is 1.3%. We will be looking for a deviation of at least 0.2% to trigger a safe trade.
We could see a good initial move with a safe trigger in either direction, but we will most likely close out the trade quickly if we get a buy trigger and hold it if we get a sell trigger. We will want to be very careful on this release as a couple of times in the last few months the initial move has gone against the deviation by about 20 pips before it moved in the correct direction.
This report has met our safe trigger six months this year, and the GBP/USD has moved approximately 15-60 pips each time, except for two months when the GBPUSD initially went against the direction of the deviation. This release last met our safe trigger last month and we had traders report profits of up to 20 pips on the trade. The chart below shows the movement of the GBP/USD at the time of last month’s release:
To see a video of last month’s trade, click on the following link:
httpv://www.youtube.com/watch?v=cnaNRx38iwY
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.
Good Luck!!!!
HOW TO TRADE THE FREE CALLS
If this is the first time you are receiving my trade calls, please visit…
http://www.forextradersdaily.com/signals.htm
for important information on how to use my calls.
WOULD YOU LIKE ME TO COACH YOU THROUGH
THIS TRADE IN REALTIME TOMORROW?
Then visit: http://www.forextradersdaily.com/forex2.php
Leave a Reply