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 US Non-Farm Payrolls report last Friday.
For the NFP report, the plan was to go long on the GBP/USD if the release came out lower than expected by 50k or more from the expected number of 127k. The actual number came out with a deviation of 35k, so we did not enter the trade. We had several traders who got in with a medium trigger and make 15-20 pips of profit on the initial move of this trade. We know of some who even made more as they held on to the trade as the market continued to move throughout the rest of the day. 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 UK Industrial Production report is released at 4:30 am EDT. The expectation for this report is 0.1%. 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.
Last month this trade hit our medium trigger and we had many traders make profits of 10-20 pips. To see the video of last month’s trade, click on the following link:
WEEKLY OUTLOOK
In addition to tomorrow’s trade, I also wanted to make you aware of the other trades we will be focusing on this week. We have two additional reports that we will be trading Live on the News. They are as follows:
UK Trade Balance Release date: 08/09/2007 04:30:00 AM EDT Comments: LOTN set for GBP/USD
STCA Canada Net Change in Labor Release date: 08/10/2007 07:00:00 AM EDT Comments: LOTN Set for USD/CAD
Good Luck!!!!
