Hello ,
I wanted to recap what we did on the last live trade call and give you the criteria for several possible trades tomorrow. The last trade call I sent out covered two US releases last Friday.
The first trade was the US Non-Farm Payrolls, and the plan was to go long if the release came out lower than expected by 50k or more. The actual number came out with a deviation of 27k, 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:
The Second release we were watching was the US ISM Manufacturing release. We were looking for a deviation of 1.5, but the actual number came out with a 1.0 deviation so it was a no 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, June 8, with multiple opportunities for traders to take advantage of. All four of tomorrow’s trades have produced good results for our traders in the past.
First up is the UK Industrial Production, which is expected at 0.2% and will be released at 4:30 am Eastern. We will be looking for a deviation of 1.0% 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. The last time we worked with this news release, in early April of this year, it didn’t hit the safe triggers. However, the medium triggers were met and we had many traders enter based on those numbers.
Check out the video of this trade at:
Second, we have the Canadian Employment and Labor Change numbers, which are expected to be around 14k 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 quickly jumped above the initial support level of 1.1350 and offered traders the possibility of 26-32 pips.
You can view the video of this trade at:
Finally, we have the US Trade Balance and Canadian Trade Balance figures that both come out at 8:30 am Eastern. For the US Trade Balance, the expected number is -$63.5B, and we will focus on the GBP/USD. I would like to see around 1.5B in deviation to make sure that this is a good mover. The Canadian Trade Balance is expected to be $4.9B, and we will look to trade the EUR/CAD. I would like to see a deviation of 0.9B or more on this news release. You will need to use the RSS if you are going to trade both news events.
The US Trade Balance trade in February of this year had one long trigger, along with a revision based on a very strong down market trend for this session which led to our closing it out at our first intermediary target for a quick 15-16 pips.
The Canadian Trade Balance news release trade from early March began with a short revision and yielded opportunities for 50-60 pips on the EUR/CAD trade.
You can take a look at these two trades here:
Good Luck!!!!
