WELCOME TO OUR WEEKLY ROUNDUP AND FRIDAYS DOM PROOFS
US presidential elections continue to drag on with continued controversy over voting fraud and counting irregularities. The uncertanty over who will eventually become president is still very predominant.
Again, Brexit and Coronavirus had their moments, causing temporary swings upon news announcements. The threat of a no deal saw the pound weaken in the latter part of the week.
WEEKLY POINTS TOTAL: Including Friday, there was a decent maximum potential of 3,405 points from from specific Max Day Trading time/price level entries from the UK morning sessions. A TEN PERCENT target would have yielded a minimum of 340 points for the week.
FRIDAY
We had mixed Dom trend directions within our GBP pairs and early UK data that came in mainly positive. This would normally play havoc in deciding to trade the long or short pairs. However another factor was worsening EU trade negotiations which gradually weakened the pound throughout the morning. There were still trades at our usual times in both directions but fundamentals and poor ICS Balances restricted any momentum.
The Dom long EUR/AUD fared well on positive EU data, as did the Dax on positive German data.
Friday saw another reasonable maximum potential of 595 points from specific Max Day Trading time/trend entries within our five instruments from the UK morning session alone, with a minimum target of just 30.
A TEN PERCENT target of this figure would have yielded 59 net points from specific Max Day Trading time/trend entries, with many additional opportunities in the US morning (UK afternoon) and US afternoon (UK evening) sessions.
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