TRADE OPPORTUNITY TOMORROW

There is a potential for a good news trade tomorrow when the US Consumer Confidence report is released at 10:00 am EST. The expectation for this release is 55.0, and we have placed a safe trigger of 9.0 for this release. Your focus should be on the EURJPY, as we have historically seen moves of around 25 to 50 pips on the EURJPY when this release has met the safe deviation.

This particular release should be tradable either way, but we will most likely prefer to see a buy trigger on this particular release as a positive number could have a larger impact on the market. We could still get a good move on a sell trigger, but you will likely want to exit with 25-40 pips of profit if it triggers a sell.

If you would like to trade a medium trigger I would suggest trading much lower lots. The safe trigger should allow enough of a move that you could trade the normal 5 to 1 leverage that we typically recommend.

We will not have the Live Trade Room open for this trade, but I wanted to make you aware of this opportunity. Our next live trade call will come on Thursday, when the US Durable Goods report is released.

Good Luck!!!!

HOW TO TRADE THE FREE CALLS

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for important information on how to use my calls.

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This entry was posted on Monday, February 22nd, 2010 at 5:15 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.