By Darrell Martin
While some of you are taking the day off from trading to take advantage of all the Black Friday Sales, Canada will release eight News reports at 8:30 AM.
Some are related in that there are the Month over Month and Year over Year of IPPI (Industrial Product Price Index) and RMPI (Raw Materials Price Index). There are four news releases that pertain to the GDP (Gross Domestic Product): Month over Month, Quarter over Quarter, GDP Annualized (QoQ) and GDP Implicit Price (QoQ). All of these reports vary from high to low in their importance with GDP (MoM) ranking high in importance. It is forecast at 0.4%. The previous reading was -0.1%.
Higher than expected readings for any of these reports should be regarded as positive or bullish for the CAD. If the reading is lower than expected, then it is negative or bearish for the CAD side of your trade.
On November 28, 2014, at 8:30 AM, when these reports are released, you will want to have already found and entered into an Iron Condor trade using Nadex Spreads on the USD/CAD. You can enter as early as 7:00 AM with an expiration of 9:00 AM. The minimum profit you want is $30. Remember that an Iron Condor is actually two contracts on the same instrument with the same expiration time. Buy the lower spread and sell the upper spread. Make sure that the ceiling of the lower spread is equal to the floor of the upper spread.
For more information on other strategies you can use in trading, 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 chat 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.