I wanted to recap what we did on the last live trade call and give you the criteria for three possible trades tomorrow. The last trade call I sent out covered the ISM Manufacturing report on Monday.
For the ISM Manufacturing report, our plan was to go short on the GBP/USD if the release came out higher than expected by 1.5 or more from the expected number of 55.0. The actual number came out with a deviation of 1.0, so our trigger was not hit and we did not enter this trade. To see the video of the trade click on the following link:
OUR NEXT LIVE ON THE NEWS TRADE CALL
We have a super trading day coming up tomorrow, July 6, with multiple opportunities for traders to take advantage of. All three of tomorrow’s trades have produced good results for our traders in the past.
First up is the UK Industrial Production. We will focus on the year-to-year figure, which is expected at 0.3% and will be released at 4:30 am Eastern. We will be looking for a deviation of .9% to trigger a safe trade. A higher than expected number would be good for the GBP and would signal a long on the GBP/USD and a lower than expected number would be bad for the GBP so that would signal a short on the GBP/USD.
In April, this report hit our medium trigger and we had several traders who made some good profits on the trade. You can view the video of the April trade at:
Second, we have the Canadian Employment and Labor Change numbers, which are expected to be 17k and will be released at 7:00 am Eastern. Our safe trigger on this trade will be at a deviation of 15k or more. A higher than expected number would be good for the CAD, and would signal a short on the USD/CAD. A lower than expected number would be bad for the CAD so that would signal a long on the USD/CAD. In May, this release hit our safe triggers and we saw a movement that offered traders the possibility of 26-32 pips. You can view the video of this trade at:
Finally, we have the US Non-Farm Payrolls, which will be released at 8:30 am EDT. The expected figure for this report is 120k jobs. We will be looking for a deviation of 50k jobs to trigger a safe trade. Many times on this report the revisions can have an impact after the initial release comes out. A higher than expected number would be good for the USD, and would signal a short on the GBP/USD. A lower than expected number would be bad for the USD so that would signal a long on the GBP/USD. The last time our safe trigger was hit in April, the market made a good move and some of our traders made 25-35 pips. You can view the video of this trade at:
Good Luck!!!!
