Fundamentals immediately put a spanner in the works of our Dom Short GBP pairs with positive UK data at 7am. The strengthening pound was further aggravated by a weakening JPY, a weak plus AUD and a USD that strated to weaken from the London open. This eliminated any technical trades in the GBP/JPY and GBP/AUD, an extremely rare occasion. However again, we were armed with this information from the onset with our ICS Balances and this allowed us our choices.
Because of the UK data and with reference to our ICS Balances, it would have been quite feasible to safely trade the GBP/JPY & GBP/AUD in a more fundamental fashion against our technical short Doms. However this strategy is technical, not fundamental and we must stick to those rules.
Entries were manic but still at our specific Max Day Trading time/price level entries and we managed a maximum potential of 535 points from the London morning session alone on reduced instruments, with a target of just 30.
A 10% target of this figure would have yielded a minimum of 53 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) session.
