I wanted to recap what we did on the last live trade call and give you the criteria for a possible trade tomorrow. The last trade call I sent out covered two releases last Friday.
The first trade was the UK GDP, and the plan was to go long on the GBP/USD if the release came out higher than expected by .2% or more. The actual number came out with no deviation from the expectation, so our trigger was not hit and we did not enter this trade. To see the video of the trade click on the following link:
The Second release we were watching was the Canadian GDP release. This came out the same time as the US PCE data, so we were focusing on the EUR/CAD. We were looking for a deviation of .3%, but the actual number came out with a .2% deviation so it was a no trade. It did hit our medium trigger and a few of our traders got in the trade and made some profit. To see the video of the trade and the profits that our traders made, click on the following link:
OUR NEXT LIVE ON THE NEWS TRADE CALL
Tomorrow we have the US ISM Manufacturing report, which is expected at 55.0 and will be released at 8:30 am Eastern. A higher than expected number would be good for the US dollar and would signal a short on the GBP/USD, and a lower than expected number would be bad for the US dollar so that would signal a long on the GBP/USD.
I would like to see around 1.5 in deviation to make sure that this is a good mover. In the past we have seen moves of 25 and more pips with this deviation and higher. In May our safe trigger was hit and the market moved approximately 20 pips within about 10 minutes. If you would like to see May’s video of this news release and the transcripts you can click the following link:
**BONUS** AUD Retail Sales
Note: This will NOT be a LOTN event but we will be posting the recommended safe trigger to the RSS.
Tomorrow we also have the AUD Retail Sales report, which is expected at 0.7% and will be released at 9:30 pm Eastern. A higher than expected number would be good for the AUD dollar and would signal a long on the AUD/USD, and a lower than expected number would be bad for the AUD dollar so that would signal a short on the AUD/USD.
I would like to see around 0.4% in deviation to make sure that this is a good mover. In the past we have seen moves of 25 and more pips with this deviation and higher.
Good Luck!!!!
