Today we were watching the Cad Retail Sales and looking for around .4 in deviation. Our trigger was not met and we also a had a revision so it was a no trade. To see the video of this trade follow this link.
The other release I had commented on was the FOMC Rate Decision which remained unchanged as expected. This was a no trade however the dollar obviously lost some ground against the GBP when this was released as the GBP/USD moved up around 100 pips.
OUR NEXT LIVE ON THE NEWS TRADE CALL
UK Retail Sales M/M Release date: Mar 22, 2007 5:30:00 AM EDT Expected: 0.6
Tomorrow we have the UK Retail Sales which is expected at .6. I will be looking for around .4 in deviation on this release and if we see a higher than expected number I will go long and if I see a lower then expected number I will go short on the GBP/USD.
Revisions are common however it shouldn’t be a factor with the trigger we are using unless the revision is substantial. I think as long as the revision is .2 or less we should be fine.
I will look for around 30 pips on this release however if we see significantly more deviation or have a revision that is in agreement we may see quite a bit more.
Good Luck trading!!!
