TRADE CALL RECAP
For our last live trade call, we were watching the UK GDP report last Friday. We were looking to sell the GBPUSD if the number came out at least 0.2% worse than expected. The actual number came out with a strong -0.6% deviation, so it met our safe sell trigger and we entered a trade. We had traders report up to 98 pips of initial profit on the trade. I mentioned in the room that we were hoping for a sell trigger and would hold a portion of the trade if we got a sell trigger. For those that held and are still in the trade, they have seen up to 350 pips of profit potential on this trade so far. The trade is currently up around 250 pips at this time, and there is a potential for it to drop even more. The video of this trade is below:
httpv://www.youtube.com/watch?v=e4IWWA0eUUs
OUR NEXT LIVE ON THE NEWS TRADE CALL
Tomorrow we will have an opportunity for a trade when the US Durable Goods report is released at 8:30 am EDT. We will be focusing on the US Core Durable Goods figure, which is expected to be 0.6%. 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 USDJPY and EURJPY.
We will probably prefer a buy on this particular trade as the EURJPY is currently in an uptrend. However, this release should be tradable either way if it meets our safe trigger. We will likely look to close the trade once we see 20-40 pips of profit, although it might be worth holding a portion of a buy trade. We will need to be careful tomorrow as this release has not had a very strong impact on the market lately.
This report last met our safe trigger in March, and we had traders report profits up to 10-15 pips on the USDJPY on the trade. The chart below shows the movement of the EURJPY at the time of March’s release. As you can see, the EURJPY moved approximately 35 pips so we will focus on that currency pair tomorrow.
To see the video of March’s trade, click on the link below:
http://www.forextradersdaily.com/vid/USDurGoods032509/
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