UK Retail Sales should be a good release and similar to the CPI release, any surprise should provide plenty of volatility for the market and opportunity for traders.
5:30am (NY Time) UK Retail Sales Forecast 0.4% Previous -0.3%
The Trade Plan
Our tradable deviation or surprise factor for UK Retail Sales is 0.5%. If our deviation is hit, we can expect the market to move at least 50 pips within the hour; of course, considering that we are expecting a 0.4% figure, I would recommend to BUY only if the figure is at least positive at 0.9% or better, and SELL only if the figure is below -0.1%.
We´ll be looking for an after-news retracement trade for this release. For more information on my trading methods: http://www.currencynewstrading.com/how-to-get-started-with-news-trading/
I’d recommend to use the Recommended Pairs from above as they are based on my CSM, which should provide the best combination of currency pairs to trade based on better/worse news… of course, you can also trade the default pair: GBPUSD.
UK Retail Sales | March 23, 2017 | Currency Trading
March 20, 2017 by 1 Comment