Trade Call for October 7, 2008
Written by Dustin Pass on October 6, 2008 – 3:37 pm -TRADE CALL RECAP
Last Friday we were watching the US Non-Farm Payrolls release,
and we were going to short the USD/JPY if the number came out
at least 50k worse than expected. The actual deviation was
54k, so met our triggers and we entered a trade. I warned to
use lower leverage and to close quickly as the market
conditions were very volatile. We had most traders report
profits of up to 20 pips on this trade, depending on their
entries, and a couple who reported losses. To see the video
for this trade, click on the link below:
http://www.tradingliveonthenews.com/vid/USNFP100308/
OUR NEXT LIVE ON THE NEWS TRADE CALL
Tomorrow we will have an opportunity to trade when the UK
Industrial Production report is released at 4:30 am EDT. We
will be focusing on the Industrial Production (MoM) figure. The
expectation for this report is -0.2%. We will be looking for a
deviation of 0.5% on this report to trigger a safe trade. A
better than expected figure will trigger a buy on the GBP/USD.
This report last met our safe trigger in July, and we had
traders get in and report profits of up to 20 pips, depending
on their entries. To see a video of July’s trade, click on the
link below:
http://www.tradingliveonthenews.com/vid/UKIndProd070708/
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!!!!
Posted in UK News Data |