Today was very much like yesterday, with some glaring choices and obvious omissions due to heavy conflicts within our ICS Balances. Again we were fortunate enough to be fully aware of this before we started trading and were able to pick the instruments with the best trend momentum.
We also had the proverbial coronavirus fundamentals disrupting the German Dax on the announcement of their lockdown extending to mid May. As stocks plummeted, risk was transferred to currencies. As the Dow follows the Dax until the US open, we not only saw a strengthening of the EUR but also the USD which had initially started the day as Weak Plus and ended up strong as the morning progressed. This obviously had a knock on effect with our EUR & USD pairings, some good and some bad. Again, our early trades did well with some excellent points in our chosen instruments (best ICS Balance).
Volatility is now levelling off (unlike our spreads!) with a maximum potential of 720 points from specific Max Day Trading time/price level entries from the London morning session alone, with a target of just 30.
A 10% target of this figure would have yielded a minimum of 72 net points from specific Max Day Trading time/price level entries, with many additional opportunities in the US morning (UK afternoon) and US afternoon (UK evening) sessions.
