AU Retail Sales release may provide a trading opportunity but I’d recommend using caution and pay close attention to the Trade Balance figure scheduled at the same time. Although that release is not considered “tradable”, any extreme figures will confuse the market and depend on the current sentiment, we could see whipsaws as AUDUSD trade all over the place.
The solution is to wait for the first retracement before taking the trade. If there is a consensus with both releases, then we should see market pushing to the same direction even after a bit of profit taking (retracement).
8:30 pm NY Time AU Retail Sales Forecast 0.3% Previous 0.0%
The Trade Plan
We´ll be looking for an after-news retracement trade and we´ll do the 3 W´s. Wait for the deviation, Wait for the market to move with momentum first, and Wait for a decent retracement. For more information on my trading methods, please read: http://www.currencynewstrading.com/how-to-get-started-with-news-trading/
I’d recommend trading the Recommended Pairs above as they are based on my CSM and should provide you with an edge by pairing up the best currencies to trade in the event of a good/bad news. Of course, you can also trade the default pair: AUDUSD
AU Retail Sales | October 4, 2017 | Currency Trading
October 1, 2017 by Leave a Comment