OUR LAST LIVE ON THE NEWS TRADE CALL
Today we were watching the US GDP. The Plan was to sell the GBP/USD if the GDP came out higher than expected buy .5%. This release didn’t hit my personal trigger as I am a fairly conservative trader however thanks to the technology used the RSS made it possible for traders with slightly higher risk tolerance to enter with a lower trigger and some entered with a trigger of .4 and picked up some nice profits.
The Price just before the news release was around 1.9517 and as seen in the video one of our primary targets for a sell was 1.9482. The market went right to it. It is uncanny how accurate these exit levels are. Those that used the RSS auto click function had entries at or around the prerelease price.
US GDP Video
OUR NEXT LIVE ON THE NEWS TRADE CALL
Tomorrow we have a few things coming out however I am going to Focus only on the Cad GDP. One of my members suggested that it would be easier to trade the cad if we traded against a country other than the US. I did a little research and it seams that the EUR/CAD moves around 25 to 30 pips with .2 in deviation which meats my requirements to be safe to trade.
So this is what I am going to do. The Cad GDP is expected at 0.0% If the number comes out higher than expected by .2 or more I will go short on EUR/CAD. If it comes out .2 lower than expected I will go long on EUR/CAD. This number will be released around 8:30am eastern.
Good Luck trading!!!
