I wanted to recap what we did on the last live trade call and give you the criteria for potential two trades tomorrow.
The last trade call I sent out covered the UK Industrial Production report this morning. For the Industrial Production report, our plan was to go short on the GBP/USD if the release came out lower than expected by 0.5% or more from the expected number of 0.2%.The actual number came out with a deviation of -0.3%, so our trigger was not hit and we did not enter this trade.
To see the video of the trade click on the following link:
/ OUR NEXT LIVE ON THE NEWS TRADE CALLS
We will have a busy day tomorrow as we will have two news reports coming out. The first is the CAD Net Change in Labor report that will be released at 7:00 am EDT.
The expected number for this report is 18k jobs. A higher than expected number will be good for the CAD and signal a short on the USD/CAD and EUR/CAD, and a lower than expected number will be bad for the CAD and signal a long on the USD/CAD and EUR/CAD.
We will be looking for a deviation of 15k on this report to trigger a safe trade. This is one of my favorite news releases, as we can have some very good moves when it meets our safe deviation. This report has hit our safe trigger five times this year, and has provided moves of 35-60 pips on the USD/CAD each time.
The last time this report met our safe trigger was in July, and we had traders report profits of up to 39 pips. We even had one trader report a gain of $16,000 on his account!
To see the video of July’s trade click on the following link:
The next report is the US NonFarm Payrolls report which will be released at 8:30 am EDT.
For this report, the expectation is 100k jobs. A higher than expected number will be good for the USD and signal a short on the GBP/USD, and a lower than expected number will be bad for the USD and signal a long on the GBP/USD. We will be looking for a deviation of 50k on this report to trigger a safe trade. Last month this report met our medium trigger, and we had some traders get in and report profits of 10-20 pips.
To see a video of last month’s trade click on the following link:
This is our current outlook for these trades; 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 releases to get my commentary on the trades. Good Luck!!!!
