I would like to recap what we did on the last live trade call and give you the criteria for a possible trade tomorrow. The last trade call I sent out covered the US Retail Sales report last Friday. For the US Retail Sales Less Autos report, we were looking to short the GBP/USD if the report came out at least 0.5% better than expected. The actual number came out with a deviation of 0.1%, so it did not meet our safe trigger and we did not enter this trade.
OUR NEXT LIVE ON THE NEWS TRADE CALL Tomorrow we will have an opportunity to trade when the UK CPI report will be released at 4:30 am EDT. We will be focusing on the UK CPI Harmonized EU (YoY) figure, which will be Row 1 on the RSS. The expectation for this report is 1.9%. We will be looking for a deviation of 0.2% 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 this release met our safe trigger was in August, and we had traders report profits of up to 73 pips on this trade!
If you would like to view a video of August’s trade, you may click on the link below:
This is our current outlook for this trade; however, it is subject to change as market conditions may change by tomorrow. Be sure to log in to the Live Trade Room 15 minutes prior to the release to get my commentary on this potential trade. Good Luck!!!!
