CANADIAN RETAIL SALES PROVIDES UP TO 30 PIPS OF PROFIT
This morning we were watching two reports. The first was the
UK Retail Sales report, and we were looking to buy the GBPUSD
if the number came out at least 0.5% better than expected. The
actual number came out with a 0.3% deviation, so it did not
meet our triggers and we did not get in this trade.
The next opportunity came when the Canadian Retail Sales report
was released. We were looking to buy the EUR/CAD or USD/CAD if
the number came out at least 0.4% worse than expected. The
actual number came out with a deviation of -0.4, so it met our
safe trigger. We had traders report profits of up to 30 pips
on this trade.
OUR NEXT LIVE ON THE NEWS TRADE CALL
Our next live news trade opportunity will be on the UK GDP
Report that will be released tomorrow at 4:30 am EDT. The
expected number for this report is 0.4%. A higher than
expected number will be good for the GBP and signal a long on
the GBP/USD, and a lower than expected number will be bad for
the GBP and signal a short on the GBP/USD. We will be looking
for a deviation of 0.2% on this report to trigger a safe
trade. We may decide to lower the trigger tomorrow as this
report seldom meets our safe trigger. We have seen moves of 25
to 50 pips on a medium trigger recently.
This report last met our medium trigger of 0.1% in January and
provided traders with up to 25 pips of profit, depending on
their entry. To see the video of January’s trade, click on the
following link:
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 release to get my commentary on this potential trade.
Good Luck!!!!
