I wanted to recap what we did on the last live trade call and give you the criteria for three potential trades tonight and tomorrow.
The last trade call I sent out covered the UK Trade Balance report yesterday. For this report, our plan was to go short on the GBP/USD if the release came out lower than expected by $900 Million or more from the expected number of -$6.8 Billion. The actual number came out with a deviation of -$10 Million, 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:
TRADING OPPORTUNITY TONIGHT
There is an opportunity to trade tonight when the AUD Labor Force report is released at 9:30 pm EDT. Your focus should be on the Labor Force Employment Change figure, which will be Row 1 of the RSS and is expected to be 20k jobs. We have placed a safe trigger of 20k for this release. This report has met our safe trigger three times this year and has provided moves of 24 40 pips each time. We will not have the Live Trade Room open for this trade, but we did want to make you aware of the opportunity.
OUR NEXT LIVE ON THE NEWS TRADE CALLS
We will have two potential trades tomorrow as the US Trade Balance and the Canadian Trade Balance reports will both be released at 8:30 am EDT. With the RSS software, we will have the ability to trade both of these releases across multiple currencies. For the US Trade Balance, which will be Row 1, the expected number is -$59.0 Billion. A higher than expected number (less negative) will be good for the USD and signal a short on the GBP/USD and a lower than expected number (more negative) will be bad for the USD and signal a long on the GBP/USD. We will be looking for a deviation of $1.5 Billion on this report to trigger a safe trade. This report last met our safe trigger in August, and we had traders get in and report profits of 10-20 pips.
To see a video of August’s trade, click on the link below:
For the CAD Trade Balance, which will be Row 2, the expected number is $3.75 Billion. We will focus on the EUR/CAD for this release as the US data is coming out at the same time. A higher than expected number will be good for the CAD and signal a short on the EUR/CAD and a lower than expected number will be bad for the CAD and signal a long on the EUR/CAD. We will be looking for a deviation of $0.8 Billion on this report to signal a safe trade. This report has hit our safe trigger four times this year, and provided moves of 15-85 pips on those trades. Last month this trade met our safe trigger and we had traders report small profits of up to 10 pips or small losses, depending on their entries.
To see a video of last month’s trades, click on the link below:
This is our current outlook for these trades; however, it is subject to change as market conditions may change by tomorrow. Be sure to log in to the Live Trade Room fifteen minutes prior to the releases to get my commentary on the trades.
Good Luck!!!!
