UK Retail Sales is usually a very decent news to trade but since we are expecting a negative -0.8%, it will be a tough decision to consider buying the pair unless we end up with a positive release. Obviously, if we get a -1.3%, then it may justify our decision to take a sell trade.
4:30 am (NY Time) UK Retail Sales Forecast -0.8% Previous 1.1%
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 -0.8% figure, I would recommend to BUY only if the figure is at least positive or better, and SELL only if the figure is below -1.3%.
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 using 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 | January 19, 2018 | News Trading Plan
January 14, 2018 by Leave a Comment