The end of the week saw another manic movement of price on lower volumes within the markets as traders try and evaluate the longer term impact of the coronavirus pandemic. Again this is affecting technical moves to a certain degree as charts are not adhering to usual patterns and breakouts.
There was little in the way of economic data on Friday but next week sees another string of announcements for March and still some high volatility news from February ?? Expect some large deviations from previous.
All our currency pairs were technically Dom Short and all did extremely well in this time of consolidation. The German Dax was the only instrument that was Dom Long with excellent points available.
With volatility now levelling off (but not quite in line with our spreads!), we had a respectable maximum potential of 890 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 89 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.
