Live On The News Trade Call
TRADE CALL RECAP
For our last live trade call, we were looking at the UK GDP report this morning. We were looking to buy the GBPUSD if the figure came out at least 0.1% better than expected, which is what the actual deviation was. We had reports of several traders entering the trade and making up to 18 pips on this trade. To see a video of this trade, click on the link below:
OUR NEXT LIVE ON THE NEWS TRADE CALL
We will have an opportunity for a trade tomorrow with on the US Durable Goods report. We will be focusing on the US Core Durable Goods figure, which is expected to be -2.1%. We will be looking for a deviation of 2.0% on this report to trigger a safe trade. A higher than expected number will trigger a buy on the USD/JPY.
We will likely prefer a buy trigger on this as a better than expected number could have a bigger impact on the USD and the stock market, as the number would have to be close to a positive number to meet our safe trigger. We should still be able to trade a sell trigger, but we will likely look to close out quickly once we see 20-25 pips if it triggers a sell. We will need to be careful tomorrow as there is additional data coming out of the US at the same time that could affect this trade.
This report last met our safe trigger in December, and we had traders report profits up to 5-10 pips on the trade. The chart below shows the movement of the USD/JPY at the time of this release. December’s release was affected by the thin liquidity in the market on Christmas Eve.
We did not get a video of December’s trade. To see a video of November’s trade, click on the link below:
This is our current outlook for this trade; 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 potential trade.
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