TRADE CALL RECAP
Our last live trade was this morning when we were watching the
UK CPI report, and we were looking to long the GBPUSD if the
number came out at least 0.2% better than expected. I had
suggested not trading this particular release as the data could
be interpreted differently than normal. The actual number came
out with a 0.2% deviation, so our safe trigger was met. We had
a few traders enter this trade and most reported losses on the
trade as it only moved up about 10 pips before reversing.
The most likely reason for this release to not make its normal
move is because the CPI was expected to be higher because of
energy costs. The Bank of England had already predicted a CPI
reading above 5.0%, which is typically good for a currency.
However, in this case, as England is also in the midst of
financial market turmoil, the downside risks have increased and
therefore many people anticipate further rate cuts in the
coming months in spite of the higher CPI figure. To see a
video of this trade, click on the link below:
http://www.tradingliveonthenews.com/vid/UKCPI101408/
OUR NEXT LIVE ON THE NEWS TRADE CALL
Our next live trade opportunity will be when the US Retail
Sales report is released at 8:30 am EDT tomorrow. We will be
focusing on the US Retail Sales Less Autos figure. The
expectation for this report is 0.5%. We will be looking for a
deviation of 0.5% on this report to trigger a safe trade. A
better than expected number will be good for the USD and signal
a buy on the USD/JPY.
This report last met our safe trigger last month, and we had
traders report profits of up to 25 pips. To see a video of last
month’s trade, 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 this potential trade.
Good Luck!!!!
