By Darrell Martin
Here comes another opportunity for those of you that like to place a trade and leave it overnight! Early on Wednesday morning, December 10, 2014, at 4:30 AM ET, the United Kingdom will issue the Trade Balance report.
The Trade Balance is a report that is issued monthly and measures the difference in the value between imported and exported goods and services. If the number is positive, that means that there were more goods and services exported than there were imported.
This report is given a level of medium importance and may have some impact on your trading. If the reading comes in higher than expected, it should be regarded as bullish for the GBP. If it is lower than expected, then it should be taken as bearish. It is forecast to be come in at -9.53 B. Last month’s reading was -9.82 B.
To trade this overnight news release, look for an Iron Condor on a Nadex Spread utilizing the GBP/USD as your instrument. Enter as early as Tuesday night, December 9, at 11:00 PM with an expiration of 7:00 AM for a minimum profit of $30.
Remember, when placing an Iron Condor trade, you want two spreads with the same expiration time. You will buy the lower spread and sell the upper spread ideally having the floor of the upper spread equal to the ceiling of the lower spread.
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