By Darrell Martin
If you take the time and do the research, you will find that there are scheduled economic news announcements that consistently move certain markets by a fairly consistently average number of ticks or pips. US Existing Home Sales is one such announcement coming out Friday, January 23, at 10:00 AM EST. It comes out monthly and if the actual number is greater than the forecast number it is good for currency.
After having done the research, Apex Investing has found that using an Iron Condor strategy using Nadex Spreads can be a successful way to trade the EUR/USD. You can enter your trade as early as 9:00 AM EST for an 11:00 AM EST expiration. For the Iron Condor strategy, you buy the lower spread and sell the upper spread. The floor of the bought upper spread should be at the underlying market price. The ceiling from the lower spread should also be at the underlying market price.
The market may move or make a bounce right after the report and then settle back down. You want your Iron Condor to have a minimum profit potential of $30. If there are no spreads available to give you this minimum then there is no trade. The closer the market settles to the center of your spreads the greater the profit amount.
This report is a leading economic indicator for a healthy economy, due to the sale of a house having a wide reaching effect from expenditures for the house and a move. This is also called Home Resales.
A complete monthly news plan is available at Apex, to trade a variety of markets based on numerous news events. If you would like to learn more on how to trade Iron Condors or trade other news events, go to www.apexinvesting.com. 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 rooms, take advantage of trade signal services, have key indicators and access the Apex Forum. The forum content is updated daily and includes over 9000 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.