TRADE CALL RECAP / FIRST DAY OF BANK FLOW TRADE ROOM
This morning we were watching the UK Industrial Production
report, and looking for a safe trigger of -0.5% to enter a sell
on the GBP/USD. The actual number came out with a deviation
of -0.2%, so we did not enter this trade. To see the video
from this trade, click on the link below:
Today was our first day in the Bank Flow Strategy Trade Room,
and we had a good day. Look for another e-mail to come out a
little later with the results and comments from today’s session.
OUR NEXT LIVE ON THE NEWS TRADE CALLS
The next LOTN trades will be tomorrow when the Canadian Trade
Balance and the US Trade Balance reports will both be released
at 8:30 am EST. With the RSS software, we will have the
ability to trade both of these releases across multiple
currencies.
Our main focus will be on the CAD Trade Balance, as we
typically see better moves if this release meets our safe
trigger. If you are only able to trade one currency pair with
your broker, you should trade the EUR/CAD for this release as
the US data is coming out at the same time. For this report,
the expected number is $2.6 Billion. 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 $0.8 Billion on this report to signal a safe
trade.
This report has hit our safe trigger four out of the last six
months, and the market has moved 20-35 pips each month. This
release met our safe trigger last month and we had traders
report profits of up to 15 pips, depending on their entries.
To see a video of last month’s trade, click on the link below:
For the US Trade Balance, the expected number is -$59.5
Billion. A higher than expected number (less negative) will be
good for the USD and signal a long on the USD/JPY and a lower
than expected number (more negative) will be bad for the USD
and signal a short on the USD/JPY. We will be looking for a
deviation of $1.5 Billion on this report to trigger a safe
trade. This report met our safe trigger last month, and the
USD/JPY moved approximately 30 pips compared to the GBP/USD
only moving about 15 pips. This is why you should focus on the
USD/JPY for this report. To see a video of last month’s trade,
click on the link below:
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 these potential trades.
Good Luck!!!!
