When trading Canadian
GDP m/m, I recommend that you open and close your trades within the first 45 minutes of the report, because after 45 minutes, there will be other non-related market forces that will be affecting the currency pair.
With this GDP report, if you can get in within the first 20 pips of
pre-release price, most likely you can get away with a 20 pips
stop/loss and a potential profit of 20-30 pips or more. If you cannot get in within the first 20 pips, I definitely wouldn't chase it. Wait for it to
retrace within the first 5 minutes, and if it doesn't, then skip the trade.
I recommend trading USD/CAD on this report.
Please look at this Canadian GDP m/m USD/CAD chart:
Forex news trading currency exchange charts
As you can see, total move was around 90 pips, and you would be able to get in within the first 20 pips if you wanted to.
Please look at the history of Canadian
GDP m/m and the charts of how it affected USD/CAD and other currencies. Here is the link:
Forex News Trading | Details and History for CAD GDP m/m
If you want me to email you 1 day before the Canadian
GDP m/m report is released, and explain to you in details how to trade it, then please sign up for my free trading signals by going to this link:
Forex Daily Trading Signals - Forex Peace Army Forum
In the signal, I tell you exactly how many pips the currency will most likely move, depending on the difference between expected and actual numbers.
Canadian GDP m/m (after-spike retracement strategy) -
11-29-2009, 05:21 AM
Linear Mode
