I wanted to recap what we did on the last live trade call and give you the criteria for a possible trade tonight. The last trade call I sent out covered the US GDP report last Friday.
For the GDP report, the plan was to go short on the GBP/USD if the release came out higher than expected by 0.5% or more from the expected number of 3.2%. The actual number came out with a deviation of +0.2%, so our trigger was not hit and we did not enter this trade.
OUR NEXT LIVE ON THE NEWS TRADE CALL
Our next Live on the News trade call will be on the Canadian GDP Report that will be released tomorrow at 8:30 am EDT. The expected number for this report is 0.4%. There is some US data coming out at the same time, so we will focus on the EUR/CAD. A higher than expected number will be good for the CAD and signal a short on the EUR/CAD, and a lower than expected number will be bad for the CAD and signal a long on the EUR/CAD. We will be looking for a deviation of 0.3% on this report to trigger us into a safe trade.
Last month this report hit our medium trigger and provided a 60 pip move within 10 to 15 minutes. This trade has hit our medium trigger the past three months and provided moves from 17 to 75 pips. To see the video of last month’s trade click on the following link:
Good Luck!!!!
