Stavro D'Amore
Former FPA Special Consultant
- Messages
- 547
Hello All
Today we have US CORE retail sales, Please find my trade plan bellow on how I will trade this.
US CORE Retail Sales
Forecast 0.2%
Previous 0.5%
Pair to trade: USD/JPY and EUR/USD
Estimated Pips: 40 pips on initial spike
The numbers we will look for:
BUY USD/JPY at 0.7%
BUY EUR/USD at -0.3%
Economical Impact: High (will bring strong volatility)
Typical Result: Good for currency
Occurrence: Released monthly
Pip range estimated on last release
About our Triggers:
We will be looking for a deviation of 0.5 % to BUY USD/JPY and -0.5 to BUY EUR/USD.
If our deviation is hit, there is a strong possibility that the market will move 40 pips on spike immediately; there is a good chance that we will get a 30% retracement before entering if we miss the spike.
What is it? Why does the market care?
Core Retail Sales measures the change in the total value of sales at the retail level in the U.S., excluding automobiles. It is an important indicator of consumer spending and is also considered as a pace indicator for the U.S. economy.
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
Pre News
There is no pre news for this release
Spike Trading
I do recommend spike trading as an option if you have an Auto clicker.
Please use limit orders or bounds set to 15 pip entry
After Spike
I will look for a 30% retracement in the original spike before entering a trade; I will sell half my position as soon as I hit the original high point of the first initial spike and place a SL at entry 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. I expect to be in this trade for a total of 30 mins.
Historical Chart and Data US CORE Retail Sales
All the best
Stavro D’Amore
Today we have US CORE retail sales, Please find my trade plan bellow on how I will trade this.
US CORE Retail Sales
Forecast 0.2%
Previous 0.5%
Pair to trade: USD/JPY and EUR/USD
Estimated Pips: 40 pips on initial spike
The numbers we will look for:
BUY USD/JPY at 0.7%
BUY EUR/USD at -0.3%
Economical Impact: High (will bring strong volatility)
Typical Result: Good for currency
Occurrence: Released monthly
Pip range estimated on last release
About our Triggers:
We will be looking for a deviation of 0.5 % to BUY USD/JPY and -0.5 to BUY EUR/USD.
If our deviation is hit, there is a strong possibility that the market will move 40 pips on spike immediately; there is a good chance that we will get a 30% retracement before entering if we miss the spike.
What is it? Why does the market care?
Core Retail Sales measures the change in the total value of sales at the retail level in the U.S., excluding automobiles. It is an important indicator of consumer spending and is also considered as a pace indicator for the U.S. economy.
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
Pre News
There is no pre news for this release
Spike Trading
I do recommend spike trading as an option if you have an Auto clicker.
Please use limit orders or bounds set to 15 pip entry
After Spike
I will look for a 30% retracement in the original spike before entering a trade; I will sell half my position as soon as I hit the original high point of the first initial spike and place a SL at entry 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. I expect to be in this trade for a total of 30 mins.
Historical Chart and Data US CORE Retail Sales
All the best
Stavro D’Amore
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