Trading Nadex Iron Condor/Butterfly into the News: CAD Housing Starts
On Wednesday, October 8, 2014, at 8:15 AM, Canada will release its Housing Starts News Report. This information measures the change in the annualized number of new residential buildings that began construction during this past month. This reports tells a lot about the strength of the housing division.
Last month’s reading came in lower than was forecast. The forecast for September was 195.0 K and the actual was 192.4 K. This month’s forecast is 197.0 K, which, if the reading holds to a higher number, should be taken as positive or bearish for the CAD. However, if the report misses the mark and comes in lower than expected, that should be taken as negative or bearish for the CAD.
Trading Nadex into the news, look for an Iron Condor if trading spreads or a Butterfly if trading binaries. The instrument you want to trade is the USD/CAD. You will want to enter as early as 8:00 AM with an expiration of 10:00 AM and a minimum profit of $20.
To learn other ways to trade the news, 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 8000 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.
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