To review the last release we were watching was the UK Retail Sales which turned out to be a great trade. The plan was to go long on the GBP/USD if the actual number came out higher than expected and it did, but in addition it last months number was revised up…
Personally I made 35 pips on my entire position from one dealing platform and on the other I closed out the first half of the position with 39 pips and the second position with 11 pips. Other traders report profiting 33 to 45 pips. One at 60 pips… and one trader made $20,000 on two trades last week so last week was a great week overall. To see the video from the UK Retail Sales click on the link below
OUR NEXT LIVE ON THE NEWS TRADE CALL
First up tomorrow morning we have UK GDP coming out along side the UK current account. This particular trade can be a bit volatile if the releases conflict however on the other hand we can see good movement if they are in agreement with one another.
The GDP is expected at .8% and the Current account is expected to come out at -9.0b. If there is a conflict I will close this trade right away.
The GDP hardly ever comes out different than what’s expected and when it does it is only by.1 which can provide enough movement to trade but with the current account coming out at the same time I will trade less lots on this to minimize my risk. If the GDP conflicts by .1 or more and the Current account also Signals the same I will trade this otherwise I will probably stand by and watch.
A higher than expected number signals a buy and a lower than Expected number will signal a sell. I will be trading GBP/USD And this data will be released at 4:30 am eastern.
The next release we will watch is the US Durable Goods and there are two parts to this that will play a role in this release. The main focus will be the Core numbers also know as Ex Transportation which is expected at 1.8%. The second part to this is the regular Durable Goods Orders which is expected at 3.5%. I will look for around 1% on this release. There are tow additional factors that I will consider. The first Is the regular Durable Goods and the second is any revision we May have. Revisions on this particular release are very common. A higher than expected number signals a sell on the GBP/USD and a lower then expected number signals a sell. This can be a great mover so hopefully we will get a good clean signal.
Good Luck trading!!!
