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 Retail Sales report.
The plan for the US Retail Sales was to go short on the GBP/USD if the release came out higher than expected by .7% or more. The actual deviation was .6%, so it did not trigger our safe trigger. However, we had many traders that had lowered their trigger and were taken in on a short.
To see the video of this trade click on the following link:
OUR NEXT LIVE ON THE NEWS TRADE CALL
Tomorrow we have the UK Retail Sales, which is expected at .3% and will be released at 4:30 am Eastern. 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.
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+ pips with this deviation and higher. Last month our safe triggers were hit and the market moved over 40 pips. If you would like to see last month’s video of this news release and the transcripts you can click the following link:
Good Luck!!!!
