TRADE CALL RECAP
For our last live trade call, we were looking at the US jobs report last Friday morning. For the US Non-Farm Payrolls report, we were looking to sell the EURJPY and USDJPY if the number came out at least 65k worse than expected. The actual number came out only 22k worse than expected so it did not meet our safe sell trigger. The video of this trade is below.
httpv://www.youtube.com/watch?v=HH-xcP7lcYA
TRADE OPPORTUNITY TONIGHT
There is a potential for a good news trade later today when the Australian Labor Change report is released at 9:30 pm EDT. The focus should be on the Labor Force Employment figure, and the expectation for this release is around 20k jobs. We have placed a safe trigger of 15k jobs for this release. We have historically seen moves of around 25 to 75 pips when this release has met the safe deviation.
We will most likely prefer to see a buy trigger on this particular release as the AUDUSD is currently in an uptrend, and a positive number could also 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 30-40 pips of profit if it triggers a sell. You will want to keep a close eye on this release as the news can sometimes come out a little late. If you see a quick move on the AUDUSD before the news comes out, you will want to shut off the auto-click quickly.
This release has met our safe triggers in five out of the last six months and provided a 50 to 80 pip move each time. The chart of the AUDUSD at the time of February’s release is below:
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 ON THE NEWS TRADE CALL
Our next live trade opportunity comes tomorrow when the UK Industrial Production report is released at 4:30 am EDT (8:30 am GMT). We will be focusing on the Industrial Production (MoM) figure. The expectation for this report is 0.7%. 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 in December, 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 December’s trade is below:
A video of December’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
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http://www.forextradersdaily.com/signals.htm
for important information on how to use my calls.
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