In our last trade call, we were focusing on UK Retail Sales.
We were looking for 0.5% in deviation to meet our safe trigger. This trade turned out to be a great trade as we saw 0.5% in deviation. We had confirming data from an additional component of the Retail Sales and had a really good move up on the GBPUSD. Our targets were actually struck almost to the pip.
To view a video of this trade, you may click on the link below:
On a personal note, I actually received better execution than I have in some time. Some have voiced some concerns that news trading is getting more and more difficult. Personally I feel that it’s actually becoming a little easier to trade news now that traders are beginning to spread themselves out across different brokerage firms instead of concentrating on one firm.
I actually was able to get in just shy of 300 standard lots across several accounts, using multiple entries. This produced $48,632 in profits on one trade.
THE SYSTEM WORKS … This trade underscores the fact that the system DOES WORK…
In the trading room we report precisely what deviation from the expected number causes the Forex market to react… which in turn creates a profitable trading situation. Unlike technical trading, you don’t have to invest a guess… and you don’t have to dredge through years of historical data.
TRADE CALLS FOR TOMORROW
Tomorrow we will have two potential trades. First will be the UK GDP, which will be released at 4:30am EDT. The expectation for the UK GDP monthly figure is 0.7%. We will be looking for 0.2% in deviation on this particular release, and we will be trading the GBPUSD. If our triggers are hit, we expect to see around 25-30 points in movement. On this particular release, a higher than expected number will signal a buy on the GBPUSD. This trade seldom hits our safe trigger, but we usually see some good movement when our medium trigger of 0.1% is met.
The last time this release hit our medium trigger was in July and we saw over 30 pips of movement. To watch the video of July’s trade, please click on the link below:
The next release that we will focus on is the Canadian CPI, and this will be released at 7:00am EDT. We will focus on the CPI Excluding Core 8, which will be Row 1 on the RSS, and it is expected at 0.2%. We will look for 0.2% in deviation on this to have a safe trade. A better than expected number will signal a sell on the USDCAD and EURCAD.
There are several components to the CPI. All can play a factor so we’ll keep a close eye on all three components. Again, we can still get some good movement when our medium trigger of 0.1% is met. This release has at least hit our medium trigger in five out of the last seven months and we have seen moves of 19 to 57 pips when it has.
To see the 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!!!!
