TRADE CALL RECAPS
For our last live trade calls, we were looking at the Canadian GDP and US ISM Manufacturing reports this past Monday. For the Canadian GDP, we suggested raising the safe trigger to 0.3% as this particular release has not had a very strong impact on the market lately. The actual number came out only 0.2% better than expected so it did not meet our raised trigger. The few traders who reported getting in with the lower trigger of 0.2% made up to 20 pips on this particular trade. The video of this trade is below.
httpv://www.youtube.com/watch?v=s640-WPczIs
For the US ISM, we were looking to sell the EURJPY if the number came out at least 2.1 worse than expected. The number came out only 1.4 worse than expected, so it did not meet our safe sell trigger.
OUR NEXT LIVE ON THE NEWS TRADE CALL
Our next live trade opportunity comes 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 -56k 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 will be looking for a deviation of at least 65k on this report to trigger a safe trade.
We will most likely prefer a sell trigger as that could have a bigger impact on the stock market than a buy trigger. I anticipate a 30-50 pip spike either way, but it may just be a temporary move if we get a buy trigger.
This report last met our safe trigger in January and the trade moved very well, providing almost 100 pips of profit in mere seconds! 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 January’s release:
The video of January’s trade is below:
httpv://www.youtube.com/watch?v=pYXYgKQ18ps
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!!!!
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