TRADE CALL RECAP
For our last live trade call, we were looking at the US ISM Manufacturing report this past Monday. On this report, we were looking to buy the EURJPY if the number came out at least 2.5 better than expected. The number came out 2.9 better than expected, so it met our safe buy trigger and we entered a trade. We had traders report profits of up to 20 pips on this trade. The video of this trade is below:
httpv://www.youtube.com/watch?v=kk_b1bFNJyI
OUR NEXT LIVE ON THE NEWS TRADE CALLS
We will have two opportunities for trades tomorrow when the Canadian Labor Change and the US Non-Farm Payrolls reports are released. Both are excellent opportunities that have provided major moves recently.
The first release is the Canadian Labor Change report, which will be released at 7:00 am EST. This is one of my favorite releases as our safe trigger is often met and we get some very good moves on this particular release. The expectation for this report is around 15k jobs.
A higher than expected number will be good for the CAD and signal a short on the USDCAD and EURCAD, and a lower than expected number will be bad for the CAD and signal a long on the USDCAD and EURCAD. We will be looking for a deviation of 15k on this report to trigger a safe trade.
We are not biased either way for this trade as it should provide a good move in either direction if it meets our triggers. We will keep an eye on the trade if it triggers and determine at that time if we will continue to hold a portion of the trade or close completely when we see a 30 to 50 pip move.
This report has met our safe trigger in ten out of the last twelve months, and we have had traders report profits of 30 pips and more on each trade. We have even had traders report profits of up to 100 pips and more on the EURCAD on this release.
This release last met our safe trigger last month and we had traders report profits of up to 60 pips on the trade. The chart for the USDCAD at the time of last month’s trade is below:
The video of last month’s trade is below:
httpv://www.youtube.com/watch?v=CwTBWn25Q-U
Our second trade opportunity tomorrow when the US Non-Farm Payrolls report is released at 8:30 am EST. We will focus on the Non-Farm Payrolls figure, which is expected to be approximately 10k jobs. We have changed our focus on this one to the EURJPY as it has moved much better than the GBPUSD in recent months.
A higher than expected number will be good for the USD and signal a long on the EURJPY, and a lower than expected number will be bad for the USD and signal a short on the EURJPY. We wil be looking for a deviation of 65k on this report to trigger a safe trade.
We will most likely prefer a buy trigger as that could have a bigger impact on the stock market than a sell trigger. I anticipate a 30-50 pip spike either way, but it may just be a temporary move if we get a sell trigger.
This report last met our safe trigger last month and the trade moved very well, providing 100 pips of profit in mere seconds, and we had traders report profits of up to 75 pips on the EURJPY! The chart below shows the movement on the EURJPY at the time of last month’s release:
The video of last month’s trade is below:
httpv://www.youtube.com/watch?v=pYXYgKQ18ps
This is our current outlook for these trades; 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 releases to get my commentary on these potential trades.
Good Luck!!!!
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