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 the Canadian Net Change in Labor report last Friday.
For this report, the plan was to go long on the USD/CAD if the release came out lower than expected by 15k or more from the expected number. The actual number came out with a deviation of -8.7k, so we did not enter the trade. To see the video of this trade, click on the following link:
OUR NEXT LIVE ON THE NEWS TRADE CALL
Tomorrow we will have an opportunity to trade when the US Retail Sales report is released at 8:30 am EDT. We will be focusing on the Retail Sales less Autos figure, and the expectation for this report is 0.4%. 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 USD and would signal a short on the GBP/USD, and a lower than expected number would be bad for the USD so that would signal a long on the GBP/USD.
Last month this report hit our safe trigger and we had many traders report profits of 15 to 20 pips. To see the video of last month’s trade for this report, click on the following link: