TRADE CALL RECAPS

Our last live trade calls were this morning when we were watching the Canadian and US Trade Balance reports. For the Canadian Trade Balance, we recommended raising the safe trigger to $1.5 Billion as this release has not had a big impact on the market recently. The actual data came out $0.8 Billion worse than expected, so it missed our raised buy trigger. The EURCAD did have a reaction to the buy bias.

For the US Trade Balance, we suggested not trading as it too has not had a big impact on the market. The deviation on this missed the safe trigger as well. The video for these trades is below.

httpv://www.youtube.com/watch?v=BgJoavWvy8Y

OUR NEXT LIVE ON THE NEWS TRADE CALL

We will have an opportunity for a trade tomorrow when the UK Industrial Production report is released at 4:30 am EST. We will be focusing on the Industrial Production (MoM) figure. The expectation for this report is 0.3%. We will be looking for a deviation of at least 0.5% on this report to trigger a safe trade. A better than expected figure will trigger a buy on the GBPUSD.

Our bias will be to the sell side on this particular release, but we can probably anticipate a 20-40 pip move either way if this release meets our safe triggers. If we get a buy trigger, we will most likely take quick profits on the trade.

This report last met our safe trigger last month, and the move was a little muted due to the market making a large move the previous day. We had traders report profits of up to 10 pips, depending on their entries.

The chart for the GBPUSD at the time of last month’s trade is below:

A video of last month’s trade is below:

httpv://www.youtube.com/watch?v=Wnm-PyVNw8g

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 REAL TIME TOMORROW?

Then visit: http://www.forextradersdaily.com/forex2.php

This entry was posted on Tuesday, January 12th, 2010 at 12:55 pm and is filed under Forex News Trading Live. You can follow any responses to this entry through the RSS 2.0 feed. You can skip to the end and leave a response. Pinging is currently not allowed.