CANADIAN JOB REPORT PROVIDES TRADERS WITH UP TO 150 PIPS OF PROFIT / BANK FLOW TRADES PROVIDE 50 PIPS
I wanted to recap what we did on the last live trade call and give you the criteria for a possible trade tomorrow. The last trade calls I sent out covered the Canadian Labor Change report and the US Non-Farm Payrolls report last Friday.
For the CAD Labor Change report, the plan was to go short on the USD/CAD if the release came out higher than expected by 15k or more from the expected number of 8k jobs. The actual number came out with a deviation of 34.6k, so our trigger was hit and we entered this trade. We actually had some pretty good execution reported across the board from our traders trading at several different brokers. We had traders report their best trades ever, and we even had one trader report making 155 pips on this trade! To see a video of this trade and the comments from traders, click on the link below:
We were also looking forward to the US Non-Farm Payrolls release as it has provided some good profits in previous months. We were looking to enter a trade if the release came out with a deviation of 50k jobs or more from the expected number of 80k. The actual number came out with a deviation of only 14k, so it did not meet our triggers and we did not enter this trade. Please click on the link below to see the video:
We also entered a couple of bank flow trades on the AUD/USD on Friday and those paid about 50 pips total. So overall it was a pretty good day for our trades. The bank flow data gets posted on a regular basis on the website below:
http://www.forextradersdaily.com
OUR NEXT LIVE ON THE NEWS TRADE CALL
Our next Live on the News trade call will be on the UK Trade Balance that will be released tomorrow at 4:30 am EST. The expected number for this report is -$7.4 Billion. 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 $900 Million on this report to trigger us into a safe trade.
This report has had less of an impact on the market lately, and we have increased our trigger as a result. This report just missed our safe trigger last month and the market moved approximately 20 pips. We had some traders get in with a medium trigger and report minimal profits of 5 to 10 pips. To see the video of last month’s trade click on the following link:
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!!!!
