UK Retail Sales News Trade 02/17/12 (+12 pips)

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DEFINITION
The UK Retail Sales is a direct measurement of consumer activities at the retail levels. A higher release is good for the economy, thus better for its currency; a lower release is considered as negative for the economy and not good for its currency. Retail Sales makes up a substantial part of the GDP, and the effect of this release could be very profound given the recent bad news coming from UK.

UPDATE
The UK Retail Sales m/m number came out at 0.9% versus the expected -0.3%. Despite the much better than expected number, GBP/USD only spiked up about +23 pips immediately after the release. However, Henry entered on a BUY GBP/USD around 1.5840 due to the good release number. After about 30 minutes, we closed the trade with positive 10-12 pips of profit.

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About Henry Liu

My name is Henry Liu and I am a Forex Trader and Mentor. I help traders achieve consistent income trading Forex while spending less time trading. My focus in trading is a combination of Fundamental Analysis, Technical Analysis, and Market Sentiment. Far too many retail Forex traders concentrate on just one aspect of trading, technical analysis, and ignore everything else; it is my goal (and vision) to educate every trader on how to take advantage of news trading and become more balanced traders.

You can find more information about me on my Google Profile.

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