TRADE CALL RECAP
Last Friday morning we were looking at the UK Industrial Production and US Retail Sales reports. For the UK Industrial Production report, we raised our safe triggers so were looking to sell the GBPUSD if the number came out at least 0.8% worse than expected. The actual number came out with a deviation of -0.8% so it just met our safe sell trigger and we entered a trade. Most traders reported getting out breakeven on the trade, with some reporting small gains or small losses. The video of this trade is below:
httpv://www.youtube.com/watch?v=NDIw8Vi2lHE
For the US Retail Sales report, we suggested keeping the safe trigger at 0.7%. The actual number came out with a deviation of -1.2%, so it easily met our safe sell trigger and we entered a trade. We had traders report profits of up to 48 pips on this trade. The video of this trade is below:
httpv://www.youtube.com/watch?v=0ZH3Wzxudp4
OUR NEXT LIVE ON THE NEWS TRADE CALL
Tomorrow we will have an opportunity for a trade when the UK CPI report is released at 4:30 am EDT (8:30 am GMT). There are several components to this release, and we will be focusing on the UK CPI (EU Harmonized YoY) figure. The expectation for this report is 3.5%. We will be looking for a deviation of at least 0.2% to trigger a safe trade.
We could see a good initial move with a safe trigger in either direction, but we will most likely close out the trade quickly if we get a buy trigger and hold it if we get a sell trigger. We will want to be very careful on this release as a couple of times in the last few months the initial move has gone against the deviation by about 20 pips before it moved in the correct direction.
This report met our safe trigger seven months last year, and the GBPUSD moved approximately 15-60 pips each time, except for two months when the GBPUSD initially went against the direction of the deviation. This release last met our safe trigger last month and we had traders report profits of up to 25 pips on the trade. A chart of the GBPUSD at the time of last month’s trade is below:
A video of last month’s trade is below:
httpv://www.youtube.com/watch?v=C7fDrYE5ci8
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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