Forex News Trading: Trades for Tuesday, June 6, 2017

12:30 AM EDT
AUD Cash Rate
AUD/USD

There is no chance they will raise rates so I would do a sell only. The odds of a drop are very small so if there is one, the spike will be huge and the follow through will go on for hours or days.

The statement which comes out at the same time could cause quite a bit of volatility. If you aren’t in by 3 seconds after the posted time, close the trade.

SETTINGS: Set buy/sellPips to 25 and sellOnly to “y”.

9:30 PM EDT
AUD GDP q/q
AUD/USD

In September we saw -.1 and 0 with a 3 pip spike. The data and spike happened at about 3.5 seconds after the posted time. The deviation was small and all trades went out. Revisions of .4 came out on both rows but that didn’t happen till about a minute after.

In December we saw -.4 and -.4 with a 40 pip spike. It was a decent spike that retraced a few pips and then pushed down to about 50 or so before starting back again. It retraced 12 in minute 3 but continued back down to 50 after 5 minutes where it stayed for awhile.

In February we saw .3 and .4 with an 18 pip spike. Again not much movement for a fair deviation. It spiked about 18 then retraced about half way. Then it crept back a few pips over the next 15 minutes before pushing slowly back up over the next 20 minutes or so.

It looks like we need to see at least .4 for a decent move, and .5 would be better. Like the trade above, if you aren’t in by 3 seconds after the posted time, close the trades. If it comes out as a strong sell, you might want to close most of it but leave a small piece in to see what happens with the statement. If your small piece continues to be profitable when all is said and done, leave it in hoping for a further run down over the next couple days.

SETTINGS: Set buy/sellPips to at least 15.

About Barry Battista

I am a software guy that started trading in 2006. I have been trading the news for a living ever since. Eventually I wrote some code to help a friend and I improve our odds, and gradually the software took on a life of its own. My intention is to adapt this trading style to the ever changing Forex markets to always provide the trader with the tools and information to give them the maximum odds of a profitable trade.
This entry was posted in AUD News Data, News Trade Calls, News Trading and tagged , . Bookmark the permalink.

2 Responses to Forex News Trading: Trades for Tuesday, June 6, 2017

  1. Ruben Almeida says:

    Hi Barry,
    I sent you an email, I’ll appreciate your help.
    Thanks,
    Ruben

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