[flv:http://www.newsprofiteer.com/091709-ukretail/091709-ukretail.mp4 480 360]
4:30am (NY Time) UK Retail Sales Forecast 0.2% Previous 0.4%
ACTION: GBP/USD BUY 0.8% SELL -0.4%
Our focus will once again be on the UK Retail Sales, which is measurement of activities at the retail level, therefore a higher Retail sales number means better economy and better for Sterling.
The tradable deviation for this release will be 0.6% on the Headline number. If our deviation is hit, we can expect the market to move at least 50 pips within the hour, with a historical accuracy of 70%. If we do not get at least of 0.6% of deviation, we will not take a trade as the release is not safe enough for a successful trade based on historical data…
An interesting trend over the last 12 releases is that we’ve gotten 10 better than expected releases and 2 worse than expected releases. Based on pure statistics we could be looking a better than expected numbers today. But one word of caution is with the recent negative sentiment on the Sterling, as the market may move stronger on a negative release than a positive release, the long-term direction of the trade should be selling Sterling than buying, therefore I may be looking to SELL from the top from a better release or just SELL right off the bat on a worse release.
As usual I will be posting the results back here as soon as possible, so stay tuned.
Related posts:
- UK Retail Sales m/m 08/20/09
- UK Retail Sales m/m 11/19/09
- UK Retail Sales m/m 10/22/09
- UK Retail Sales m/m 12/17/09
- Forex Trade Plan & Video For UK Retail Sales 07/22/10
- UK Retail Sales m/m 01/22/10
- Trading Plan For UK Retail Sales 06/17/10
- Forex News Trading UK Retail Sales m/m 01/21/11
- Trade Plan For UK Retail Sales 05/20/10
- Forex News Trading UK Retail Sales m/m 02/18/11
{ 2 comments… read them below or add one }
Hello, i am new at forex, and i am only used to technical analysis, how can i get better with the fundamental aspect of the fx market? i will be glade to recieve advice from you, thanks.
I’d recommend to read my ebook on fundamental analysis. You can get it from my website, http://www.newsprofiteer.com
This should get you started on the right path.