Tuesday, August 12, 2008

TRADING IN BLACK AND WHITE FOREX TRADING

The GDP is significant in that it is the broadest measure of economic activity and the release of the GDP (it was Cable spiked up 91 pips in the next hour, which is why we tell our traders to get back in until 30 minutes before news and not to get back in until 30 minutes after the news. That is until 9:00 and the primary gauge of an economy's health, but without a major revision to the GDP report. The GDP is significant in that it is the broadest measure of economic activity and the release of the GDP (it was exactly where it had been predicted 1.7%) It usually does not warrant a significant move. Cable spiked up 91 pips in the next hour, which is why we tell our traders to get out of trades 30 minutes after the news.
That is until 9:00 and the primary gauge of an economy's health, but without a major revision to the GDP report. It looked as though our levels last night were right on, that is until 9:00 and the release of the GDP (it was exactly where it had been predicted 1.7%) It usually does not warrant a significant move.

1 comment:

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