Today was in total contrast from yesterday with fundamental spikes that put a few spanners in our works. High volatility UK data was announced from the London open at 7am, this being interest rates. These are usually announced at 12pm so it’s a little strange why this is happening. Even although the data was expected, interest rate decisions have a tendency of strengthening the countries currencies, and the pound strengthened against our Dom Short GBP pairs. There were still a couple of good trades but the best was the GBP/AUD which remained net short on a strengthening AUD.
The EUR/AUD had a conflicting ICS Balance and would have been avoided in the first place. No Dom trades in this pair today.
The German Dax started the day as a Dom 2 Long which isn’t usually tradable from the UK open. However despite negative German data, coronavirus fundamentals and strong sector earnings pushed the Dax to a Dom 3 Long into the US open. There were still some good early points in the short direction before the price strengthened.
We still managed a decent maximum potential of 510 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 51 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.
