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 UK GDP report last Friday.
For the GDP report, the plan was to go long on the GBP/USD if the release came out higher than expected by 0.2% or more from the expected number. However, since this report seldom has a 0.2% deviation, we mentioned we were also looking at a potential move with even a 0.1% deviation. The actual number came out with a deviation of 0.1%, so we did enter the trade with half of our lots. We had several traders make 15-20 pips of profit on this 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 Canadian Retail Sales report is released at 8:30 am EDT. The expectation for the Retail Sales Less Autos report is 0.6%. We will be looking for a deviation of 0.3% to trigger a safe trade. A higher than expected number would be good for the CAD and would signal a short on the USD/CAD, and a lower than expected number would be bad for the CAD so that would signal a long on the USD/CAD.
Last month this trade hit our safe trigger and we had many traders make good profits of 20 or more pips. To see the video of last month’s trade, click on the following link:
Good Luck!!!!
