I wanted to update you on the NFP trade and make you aware of a potential trade opportunity later today.
As I mentioned earlier this week, I have continued to hold some EUR/USD long positions from the NFP trade last Friday. The wedge pattern that I mentioned finally broke to the up side and we continue to see the EUR/USD make a steady run. This morning it broke the all-time high of 1.3850, and is currently trading at around 1.3890. I closed another portion of lots yesterday with approximately 130 pips of profit, and another portion this morning with over 180 pips of profit. I am currently holding one final position on this trade.
TRADING OPPORTUNITY TONIGHT There is an opportunity to trade tonight when the NZD Retail Sales report is released at 6:45 pm EDT. Your focus should be on the NZD Retail Sales All, which will be Row 1 of the RSS and is expected to be 0.3%. We have placed a safe trigger of 0.3% for this release. We have seen a deviation of at least 0.3% every month for the last six months, and each release has provided moves of between 25-40 pips. Last month this release met our safe trigger. Many traders reported initial profits of 20-30 pips, and some traders stayed in the trade and made over 100 pips of profit. Our managed accounts maintained open positions with half the lots on this trade and made 95 pips of profit.
To see the video of last month’s trade click on the link below:
We will not have the Live Trade Room open, but I wanted to make you aware of this potential trade opportunity. Good luck!!!
