I wanted to recap what we did on the last live trade calls and give you the criteria for a possible trade tomorrow.
The last trade calls I sent out covered the Canadian Labor Change and the US Non-Farm Payrolls reports last Friday. For the Canadian Labor Change report, we were looking to short the USD/CAD and EUR/CAD if the number came out at least 15k better than expected. The actual number came out with a deviation of +33.6k, so it met our safe trigger and we entered this trade. We had many traders report significant profits of up to 50 or more pips on the USD/CAD and 70 or more pips on the EUR/CAD. We even had one trader report making over $100,000 on this trade!!
To view the video of this trade click on the link below:
For the US Non-Farm Payrolls report, we were looking to short the GBP/USD if the report came out at least 50k better than expected. The actual number came out with a deviation of 10k, so it did not meet our safe trigger. However, I mentioned that we would attempt to trade smaller lots with a deviation of 10k or more, and some people actually entered the trade based on that number and made profits of up to 50 pips.
To view the video of this trade click on the link below:
OUR NEXT LIVE ON THE NEWS TRADE CALL
Tomorrow we will have an opportunity to trade when the UK Industrial Production report will be released at 4:30 am EDT. We will be focusing on the UK Industrial Production (MoM) figure, which will be Row 1 on the RSS. The expectation for this report is 0.3%. We will be looking for a deviation of 0.5% to trigger a safe trade. A higher than expected number would be good for the GBP and would signal a long on the GBP/USD, and a lower than expected number would be bad for the GBP so that would signal a short on the GBP/USD. The last time this release met our safe trigger was in December, and the market moved approximately 60 pips.
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!!!!
