TRADE CALL RECAP
Yesterday we were watching the UK GDP report, and I mentioned
in the Live Trade Room that we would change our safe trigger to
0.1% as this report seldom has a larger deviation. I also
cautioned that due to the Bank of England Minutes being
released at the same time, that you should either not trade
this release or trade with reduced lots as the only time the
market has moved against the direction of the CPI figure was
last year when the BoE Minutes were released at the same time
and conflicted with the CPI release.
The report came out with a 0.1% deviation, so some traders took
a long on the GBP/USD and reported gains of 10 to 20 pips. To
see the video of this trade, click on the link below:
LIVE TRADE CALL FOR TOMORROW
Our next Live on the News trade will be at 7:00 am EST tomorrow
when the Canadian CPI report is released. There are several
components to this trade, and our focus will be on the Core CPI
(YoY) number. The expectation for this number is 1.7%, and we
will be looking for a deviation of at least 0.2% to trigger a
safe trade. A lower than expected number would signal a buy on
the USD/CAD and EUR/CAD. We can expect a 40-50 pip move on
this if it meets our safe trigger.
This report last met our safe trigger in November and we had
traders report profits of up to 50 pips on the USD/CAD and 70
pips on the EUR/CAD. We even had a couple of traders report
making trades on both the USD/CAD and EUR/CAD and making a
total of 100-120 pips between the two trades! To see the video
from November, click on the link below:
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 the trade.
Good Luck!!!!
