TRADE CALL RECAP
For our last live trade call, we were watching the US GDP
report that was released last Friday. We were going to buy the
GBPUSD if the number came out 0.4% or worse than expected. The
actual number came out with a -0.5% deviation, so it met our
trigger and we had traders report profits of up to 10 pips on
this release, depending on their entries. Some traders also
took a small loss on this release, but it wasn’t as bad as it
could have been as most traders took our advice to trade with
lower lots than normal. To view a video of the trade, click on
the link below:
CAUTION ON THE AUSTRALIAN RETAIL SALES
I would caution you to avoid trading the Australian Retail
Sales report tonight as they changed the way the number is
reported last month. It may take several months for people to
adjust to the new way of reporting and until we see consistent
moves in the proper direction, we will suggest you avoid
trading it.
OUR NEXT LIVE ON THE NEWS TRADE CALLS
Tomorrow we will have two opportunities for trades as both the
UK and Canadian GDP repots are released. Our first trade
opportunity will be on the UK GDP Report that will be released
at 4:30 am EDT. The expected number for this report is 0.1%.
A higher than expected number will be good for the GBP and
signal a long on the GBP/USD, and a lower than expected number
will be bad for the GBP and signal a short on the GBP/USD. We
will be looking for a deviation of 0.1% on this report to
trigger us into a safe trade. We have seen moves of 25 to 50
pips with this trigger recently.
This report last met our trigger of 0.1% last month and
provided traders with up to 25 pips of profit, depending on
their entry. We do not have a video of last month’s trade, but
to see the video of June’s trade, click on the following link:
The second opportunity will be when the Canadian GDP is
released at 8:30 am EDT. The expectation for this release is
0.1%, and we will be looking for a deviation of at least 0.2%
to trigger a safe trade. A higher than expected number would be
good for the CAD and signal a sell on the USD/CAD and EUR/CAD.
We can expect a 25-80 pip move on the EURCAD if it meets our
safe trigger.
This report last met our safe trigger in July and we had
traders report profits up 45 pips on the EURCAD. To see a
video of this trade, click on the link below:
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!!!!
