TRADE CALL RECAP
This morning we were watching two news reports for potential
trades. First was the UK GDP, and I mentioned in the Live
Trade Room that you could change your safe trigger from 0.2% to
0.1%. The actual number came out with no deviation, so we did
not enter a trade on this release. To see the video from this
trade, click on the link below:
Later in the morning the US GDP report was released and it also
came out with no deviation, so we did not enter this trade
either. To see the video of this trade click on the link below:
OUR NEXT LIVE ON THE NEWS TRADE CALLS
Tomorrow we will have three Forex trade calls. The first will
be the U.K. Retail Sales release at 4:30 am EST. Row One on the
RSS will be our focus, which is the Retail Sales (MoM) figure,
and is expected to be 0.2%. We will be looking for around 0.5%
in deviation, and a higher than expected number on this
particular release would signal a buy on the GBP/USD. A lower
than expected number would signal a sell on the GBP/USD. I
expect to see around 30-50 pips on this release if it hits our
trigger. Depending on where the price is prior to the release,
I may adjust that target one way or the other.
The last time this release met our safe trigger was in October,
and we had traders report up to 30-35 pips of profit on the
trade. To see a video of October’s trade, please click on the
link below:
The next two trades will be at 8:30 am EST, which could prove
to be pretty interesting. There are two major Canadian news
reports that will be released at the same time, as well as some
US data. We will most likely focus on trading the EUR/CAD as
the US data will not affect that pair. We will take more
caution than usual for these releases, as they could come out
in conflict with each other. I would recommend that you use
lower leverage than normal for these releases.
For the CAD GDP, which will be Row 1 of the RSS, the
expectation is 0.1%. We normally would have a safe trigger of
0.2% on this trade, but I think we will look for a deviation of
at least 0.3% to trigger a safe trade tomorrow. A lower than
expected number would signal a buy on the EUR/CAD.
For the CAD Retail Sales, which will be Row 3 on the RSS, the
expectation is also 0.1%. We would normally have a safe
trigger of 0.5% on this trade, but we will probably increase
the trigger to 0.6%. I think this could be the better mover if
it meets the trigger, but the GDP could also have a big impact
on the market with a good deviation. Again, a lower than
expected number would signal a buy on the EUR/CAD.
If both of these numbers come out in agreement, we could see a
very strong sustained move. I would personally prefer to see
buys on these trades, but either way it should be an
interesting event.
This is our current outlook for these trades; 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 releases to get my commentary on the trades.
Good Luck!!!!
