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 Trade Balance report this morning.
For this report, the plan was to go long on the GBP/USD if the release came out higher than expected by $700 Million or more from the expected number. The actual number came out with a deviation of $234 Million, so we did not enter the trade. To see the video of this trade, click on the following link:
OUR NEXT LIVE ON THE NEWS TRADE CALL
Tomorrow we will have an opportunity to trade when the Canadian Net Change in Labor report is released at 7:00 am EDT. This is one of my favorite releases as there is typically a strong move when we get a safe trigger. The expectation for this report is 20k jobs. We will be looking for a deviation of 15k to trigger a safe trade. A higher than expected number would be good for the CAD and would signal a short on the USD/CAD, and a lower than expected number would be bad for the CAD so that would signal a long on the USD/CAD.
Last month this report hit our safe trigger and we had many traders report profits of 30 to 60 pips. To see the video of last month’s trade for this report, click on the following link:
Good Luck!!!!
