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 US ISM Manufacturing report yesterday.
For the ISM report, the plan was to go long on the GBP/USD if the release came out lower than expected by 1.5 or more from the expected number of 55.5. The actual number came out with a deviation of 1.2, 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 US Non Farm Payrolls report is released at 8:30 am EDT. The expectation for this report is 127k jobs. We will be looking for a deviation of 50k to trigger a safe trade. A higher than expected number would be good for the USD and would signal a short on the GBP/USD, and a lower than expected number would be bad for the USD so that would signal a long on the GBP/USD. The last time this report hit our safe trigger was in April, when we saw a 35-40 pip move. To see the video of April’s trade, click on the following link:
Good Luck!!!!
