OUR LAST LIVE ON THE NEWS TRADE CALL
Friday we were watching the US Durable Goods Orders Core and the plan was to sell if it was higher than expected by 1% or more. The actual number far exceeded our triggers and we also had confirmation from the revisions as well.
This was a great trade as it went just past my primary target for a short which gave use a water mark to close our trade when it broke back above that level. To see a video of today’s trade click the following link.
OUR NEXT LIVE ON THE NEWS TRADE CALL
Tomorrow we have a great opportunity to make some good profits on a couple of good trades that are coming out at the same time. The first is the US GDP which is expected at 3.0. I would like to see around .4% in deviation on this particular piece of data.
A higher than expected number will signal a sell in the GBP/USD and a lower than expected number will signal a buy. So if the number comes out 3.4 or higher I will sell and if it comes out 2.6 or lower I will by. I will also keep an eye on the GDP Index as well however my focus will be the annualized.
At the exact same time we have the Canadian GDP which can also move the market substantially well. The problem is if the us data conflicts it could cause a whipsaw affect on the USD/CAD. So I will watch the CAD GDP however I will trade the EUR/CAD on this release.
If this number deviates by .2% or more I will consider this a tradable report. The expected number on this release is .3% and the plan is to buy if the actual number is .1% or lower and sell if the actual release is .5% or higher. This could be a great day if all the releases hit our triggers. The last time this happened we got pulled in on 3 different currencies.
I will be using the EUR/CAD for this release and the GBP/USD for the US release. Both of these releases will probably move the market around 30 pips if our triggers are hit.
Good Luck trading!!!
