By Darrell Martin
While many US traders will observe Washington’s Birthday (President’s Day) on Monday, February 16, 2015, other markets around the world remain open for trading. On Tuesday, February 17, 2015, at 4:30 a.m. the United Kingdom will release several reports worthy of your consideration for trading.
All of these reports relate in some way to the Price Index, whether it be Consumer, Producer, or Retail and if it is differentiated by being Core or not. It is broken down even further by Input or Output as well as Month over Month or Year over Year.
Of course, some of the reports have a higher impact on trading than others. Since they are all closely related, they can be grouped into one strategy for trading, the Iron Condor. Historically, they have had the greatest impact on the GBP/USD. If the reports generate a higher than expected reading, it should be regarded as positive for the GBP side of your trade. If it comes out lower, the opposite would be true.
Look for an Iron Condor while trading the GBP/USD on Nadex Spreads. You can enter as early as 11:00 p.m. on Monday evening. (Nadex will open for trading at 6:00 p.m. Monday night.)
Remember that when placing an Iron Condor, you buy a lower spread and sell an upper spread having the same expiration time. For this trade, you want a 7:00 a.m. expiration. The ceiling of the lower spread must be equal to the floor of the upper spread and you are looking for a minimum profit of $30.
If you would like more information on how to trade Iron Condors or place other news trades, go to go to www.apexinvesting.com, a service provided by Darrell Martin. Apex Investing Institute offers free education and free access to the Nadex Binary and Spread Scanner Analyzers. Member traders are invited to trade in the chat rooms, take advantage of trade signal services, use key indicators and access the Apex Forum. The forum content is updated daily and includes over 10,000 members. In a supportive learning community of seasoned as well as up and coming traders, traders of all levels learn how to trade Nadex binaries and spreads in depth, as well as futures, forex, stock and options, and gain an edge for successful trading overall.