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How to take advantage of leaked UK economic news releases

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Today’s retail sales release is another clear example of the recent pattern of the GBP price foretelling the UK news to follow. Seems about 30 minutes or so before the UK news release the GBP starts to go:

 

 

 

 

I think buying a limited risk binary option with expiry just minutes after the news in the direction after 9am for a 9:30am news release is a reasonable strategy. Slippage is not an issue due to the nature of binaries.

BTW I know binaries have a bad reputation but even some poisons have good medical applications.

Best  Jimmy Young

 

EURUSD looks good and USDJPY looks bad to start the week (May 15, 2017)

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TRADE VIEW

  • Bullish JPY
    • Possible “risk off” scenario brewing
      • Dow was down every day last week
      • Nikkei was down on Wed Thurs Fri
      • Dovish statements from UK and NZD Central banks
  • Bearish USD
    • US 10-year bond down 7 basis points on Friday
    • US core CPI drops for the second month in a row
    • Weak and lower than expected US retail sales on Friday
    • President Trump stirring up a lot of controversy
  • Bullish EUR
    • Technical
      • Strong comeback on Friday following a disappointing week

 

TRADE IDEA – Sell USDJPY and Buy EURUSD

 

Remaining Calm Key to 150 Pip GDPCAD Winning Trade in 36 Hours

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Our April 24-28 Forex Weekly trade idea was to buy GBPCAD 1.7271 (Friday Apr 21 close); stop loss 150 pips 1.7121; take profit 150 pips 1.7421. Sunday’s French election news worked against both of the currencies in our pair: GBP weakened a bit versus the EUR and the CAD strengthened due to the “risk on” (stocks up) environment inspired by the French election news favoring the status quo (pro Europe candidate).

By the end of the day on Monday the GBPCAD had made back all of its loss except 12 pips. We stayed with the trade and over the next 12 hours (Tuesday morning) the pair increased 162 pips and hit our 150 pip profit target.

The point is to not abandon a good trade idea if its still valid and showed promise, which it did recovering nicely from the French news.

Here is the logic for the trade as set forth in the Forex Weekly:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

And here is the price action from Sunday through Tuesday (price target reached!)