OUR LAST LIVE ON THE NEWS TRADE CALL
I am excited to give everyone a sneak peak into the next RSS. In today’s trade I used the new RSS in the room to give people an idea of the direction we are going. Today the plan was to go long on the GBP/USD if the UK Retail Sales came out less than expected. Unfortunately it did not hit our triggers so we did not get a safe signal however the RSS did give a higher risk signal.
Once this software is released (hopefully in the next couple of days a trade would have been able to set an auto click up for the medium trigger to trade fewer lots as well as an auto click that would be set to trade more lots on a safe signal. It will also work with dealing stations that have up to a 3 click entry process and the clicks can be in different places. We made some minor changes and now have it set up to display the revision difference as well.
Any way enough rambling on about the RSS you can watch the video to see it signal today’s data by clicking the link below. The market did react from all the data being positive and moved about 30 pips which is what could be expected from all the data combined being positive.
UK Retail Sales
OUR NEXT LIVE ON THE NEWS TRADE CALL
Tomorrow we have US CPI and we will be watching the ex Food & energy release which is expected at .2. This vary rarely deviates More than .1 however .1 has not been very consistent about moving The market so I will only trade if it deviates by .2 or more. Last Month it hit our triggers so be sure and watch the video to that below To get an idea of the potential of this trade. I would prefer to trade this long as we are still in a bull market in my opinion.
A higher than expected number will signal a sell on the GBP/USD as The US dollar would strengthen against the GBP. A lower than Expected number would signal a long bias as this would weaken the US dollar against the GBP. I would expect around 30 pips of movement On this release if our trigger is hit.
This data will be released at 8:30 am eastern. In addition to the excluding Food and energy be sure to keep an eye on the monthly number as it can Have an equally powerful affect on the market. If it conflicts I suggest to Closet the trade. To get an idea of how well this release did last month you can see last months trade at the following link.
Last Months CPI Trade
Good Luck trading!!!
