Stavro D'Amore
Former FPA Special Consultant
- Messages
- 547
Hello All,
Today we have US Annualized GDP for release my detailed trade plan is below.
US Annualized GDP q/q
Forecast 2.4%
Previous 2.5%
Pair to trade: BUY USD/JPY and EUR/USD
Numbers we need:BUY USD/JPY/ 2.8%
BUY EUR/USD 2.0%
Economical Impact: High
Typical Result: Good for currency
Occurrence: Quarterly, about 30 days after the quarter ends
Spike Probability: Good, we can see 50 pips on initial spike
About our Triggers:
US Annualized GDP q/q is forecasted to arrive at 2.4%.
We are looking for a deviation of 0.4% either way on this trade.
If we get 2.8% or better I will look to enter a LONG position on USD/JPY and if we get 2.0% or lower I will go Long on EUR/USD.
Should this report be triggered, we can expect to see about 40 to 50 pips on the initial spike.
Note:
Please be diligent as we have Jobless claims for release. There may be a slight chance of conflict.
What is it? And why does the market care?
See Felix Descriptions
The GDP Price Index measures the annualized change in the price of all goods and services included in gross domestic product.
It's the broadest measure of inflation, encompassing all activities included in GDP, and is a primary instrument that the central bank uses to assess inflation.
A higher than expected reading should be taken as positive/bullish for the USD.
A lower than expected reading should be taken as negative/bearish for the USD.
Method I use to trade this:
Stavro D’Amore Trading Method
I will look for a 30% to 50% retracement in the original spike before entering. I will be looking at a 5 minute chart. I will close half my position as soon as I hit the original high point of the first initial spike and place a SL at the original spike price.
My TP level would be just before a resistance level or if the chart decides to form a support level, looking at a 15 minute chart time frame to analyse this.
I do recommend spike trading as an option
Historical Chart and Data for US Annualized GDP q/q
All the best
Stavro D’Amore
Today we have US Annualized GDP for release my detailed trade plan is below.
US Annualized GDP q/q
Forecast 2.4%
Previous 2.5%
Pair to trade: BUY USD/JPY and EUR/USD
Numbers we need:BUY USD/JPY/ 2.8%
BUY EUR/USD 2.0%
Economical Impact: High
Typical Result: Good for currency
Occurrence: Quarterly, about 30 days after the quarter ends
Spike Probability: Good, we can see 50 pips on initial spike
About our Triggers:
US Annualized GDP q/q is forecasted to arrive at 2.4%.
We are looking for a deviation of 0.4% either way on this trade.
If we get 2.8% or better I will look to enter a LONG position on USD/JPY and if we get 2.0% or lower I will go Long on EUR/USD.
Should this report be triggered, we can expect to see about 40 to 50 pips on the initial spike.
Note:
Please be diligent as we have Jobless claims for release. There may be a slight chance of conflict.
What is it? And why does the market care?
See Felix Descriptions
The GDP Price Index measures the annualized change in the price of all goods and services included in gross domestic product.
It's the broadest measure of inflation, encompassing all activities included in GDP, and is a primary instrument that the central bank uses to assess inflation.
A higher than expected reading should be taken as positive/bullish for the USD.
A lower than expected reading should be taken as negative/bearish for the USD.
Method I use to trade this:
Stavro D’Amore Trading Method
I will look for a 30% to 50% retracement in the original spike before entering. I will be looking at a 5 minute chart. I will close half my position as soon as I hit the original high point of the first initial spike and place a SL at the original spike price.
My TP level would be just before a resistance level or if the chart decides to form a support level, looking at a 15 minute chart time frame to analyse this.
I do recommend spike trading as an option
Historical Chart and Data for US Annualized GDP q/q
All the best
Stavro D’Amore
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