UK RETAIL SALES REPORT PROVIDES UP TO 70 PIPS OF PROFIT
I would like 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 Retail Sales report
this morning.
For the Retail Sales report, we were looking to long the
GBP/USD if the report came out at least 0.5% better than
expected. The actual number came out with a deviation of 0.5%,
so it met our safe trigger and we entered this trade. We had
some confirming data with revisions and other components and
this turned out to be a very nice trade. We had many traders
report profits of up to 70 pips on both the GBP/USD and
GBP/JPY. To see a video of this trade, please click on the
link below:
OUR NEXT LIVE ON THE NEWS TRADE CALL
Tomorrow we will have a good opportunity for a trade at 8:30 am
EST, when the Canadian Retail Sales report is released. We
will focus on the Retail Sales Less Motor Vehicles figure,
which is expected to be 0.4%. A higher than expected number
will be good for the CAD and signal a short on the USD/CAD and
EUR/CAD, and a lower than expected number will be bad for the
CAD and signal a long on the USD/CAD and EUR/CAD. We will be
looking for a deviation of 0.4% on this report to trigger a
safe trade.
This report met our safe trigger last month, and we had traders
report profits of up to 20 pips when it made a quick spike in
agreement with the news. 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!!!!
