TRADE CALL RECAP
For our last live trade call, we were watching the UK CPI report yesterday morning. We were looking to buy the GBPUSD if the number came out at least 0.2% better than expected. The actual number came out 0.3% better than expected so it met our safe trigger and we entered a trade. We had traders report profits of up to 25 pips on the trade. A video of this trade is below.
httpv://www.youtube.com/watch?v=Byuf_c-tT50
OUR NEXT LIVE ON THE NEWS TRADE CALL
Our next live trade opportunity comes tomorrow when the UK Retail Sales report is released at 4:30 am EDT (8:30 am GMT). For this release we will focus on the Retail Sales (MoM) figure, and the expected number for this report is 0.7%. We will be looking for a deviation of at least 0.4% on this report to trigger a safe trade. A higher than expected number will be good for the GBP and signal a long on the GBPUSD, and a lower than expected number will be bad for the GBP and signal a short on the GBPUSD.
I would prefer to see a sell trigger on this particular release as it could affect the GBP more if the number comes out worse than expected. However, we could still see a 20-40 pip move if the safe buy trigger is met. I will most likely close the entire trade with 20-40 pips if we get a buy trigger. If we get a sell trigger and get a move of 30-40 pips, I will most likely close a portion of the trade and then lock in and hold the other portion of the trade for an even larger potential move.
The UK Retail Sales has met our safe trigger nine months in the last year, and the GBPUSD moved between 25 and 80 pips each time, except for a couple of times in which there were extenuating circumstances. This release last met our safe triggers last month, and traders reported up to 50 pips of profit on the trade. The chart below shows how the GBPUSD reacted to last month’s release:
The video of last month’s trade can be seen below:
httpv://www.youtube.com/watch?v=yxb2LjLM4t8
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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