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 call I sent out covered the US Durable Goods report.
The plan for the US Durable Goods was to go long on the GBP/USD if the release came out lower than expected by 1.5% or more. The actual deviation was -1.2%, so it did not trigger our safe trigger on the trade.
To see the video of this trade click on the following link:
OUR NEXT LIVE ON THE NEWS TRADE CALL
Tomorrow we have the US GDP report, which is expected at .8% and will be released at 8:30 am Eastern. A higher than expected number would be good for the US dollar and would signal a short on the GBP/USD, and a lower than expected number would be bad for the US dollar so that would signal a long on the GBP/USD.
I would like to see around .4% in deviation to make sure that this is a good mover. In the past we have seen moves of 30 and more pips with this deviation and higher. In April our safe trigger was hit and the market moved approximately 30 pips. If you would like to see April’s video of this news release and the transcripts you can click the following link:
Good Luck!!!!
