I wanted 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 UK Retail Sales report this morning. Our focus was on the UK Retail Sales MoM number, and we were looking to buy the GBP/USD if the number came out at least 0.5% higher than expected. The actual number came out with a deviation of 0.6%, so our safe trigger was met and we entered the trade. We had several traders report profits of up to 25 pips on this trade.
To view the video of this trade click on the link below:
OUR NEXT LIVE ON THE NEWS TRADE CALL
Tomorrow we will have an opportunity to trade when the Canadian Retail Sales report will be released at 8:30 am EDT. We will be focusing on the Retail Sales Less Autos figure, which will be Row 1 on the RSS. The expectation for this report is 0.3%. Since the USD/CAD and EUR/CAD are in a major down trend, I will be looking for a deviation of 0.3% to trigger a safe sell and a 0.4% deviation to trigger a safe buy. A higher than expected number would be good for the CAD and would signal a short on the USD/CAD and EUR/CAD, and a lower than expected number would be bad for the CAD so that would signal a long on the USD/CAD and EUR/CAD. This release has met our safe triggers five out of eight months this year, and has provided moves of 20-70 pips.
The last time this release met our safe trigger was in July, and we had traders report profits of up to 60 pips on the USD/CAD and over 70 on the EUR/CAD. We even had three traders report profits of over $25,000!!
To view the video of July’s trade 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!!!!
