OUR LAST LIVE ON THE NEWS TRADE CALL
In our last call the plan was to go long on the GBP/USD if it came out higher than expected by .2 or more. It did not hit our triggers and we were very fortunate that it missed our triggers because the BOE came out 5:4 instead of the expected 8:1 which weakened the GBP resulting in quite a fall.
Although the majority of those in the room did not enter there were some that used .1 deviation and ended up taking quite a loss. The log showed that we had approximately 45 people using .1 for a trigger so percentage wise we didn’t have that many that took losses not to mention there were those that held the position and or doubled up when it hit our lower target and profited nicely.
Its unfortunate that we had some losses however in retrospect those that use the medium triggers I put out profit many times when others are on the sidelines so for the most part I hope the majority of the traders are still well above watermark. I personally stood by and watched it as it did not hit my safe triggers. To see the video of this trade follow this link.
OUR NEXT LIVE ON THE NEWS TRADE CALL
Tomorrow we have US Durable Goods ex Trans which is expected at .5. This data will be released at 8:30 am EDT. I would like to see around 1% in deviation. This release is notorious for revisions so watch out for revisions and be ready to close down if necessary. I will also keep an eye on the regular durable goods and consider closing if it conflicts to much.
If our triggers are met I would expect 25 to 30 pips minimum and seeing that we don’t have any other releases to conflict this could be a very good trade. A higher than expected number will signal a sell on the GBP/USD and a lower than expected number will signal a buy.
Good Luck trading!!!
