A terrible day for our GBP pairs on very confusing Brexit fundamentals and spikes from Friday that distorted our all important Dom 3. These pairs were almost flat at the UK open, showing very little strength in direction with far from ideal ICS Balances.
To be fair, the Dom 3’s were tilting down slightly and this formed the final conclusion. Confidence remained fairly high in the short direction on an early article regarding a ratification of the Brexit withdrawal bill affecting the Irish border. This is being voted upon as I type, with a lot of controversy attached. Any amendments would be against the EU agreement which would normally see the pound plummet. We were informed that the amendments would pass but in a later article, the pound was gaining strength through the expectation of an ‘orderly’ exit and deal. A total contradiction and most certainly ‘popcorn time’ for the final vote. Despite all this, there were still a couple of early trades in each.
The EUR/AUD was a straightforward Dom long with some very good trades available but again, low currency volumes are restricting points.
The German Dax started the day Dom long but again, fundamentals crept in and we still had our usual good but manic points.
Monday saw a reasonable potential of 460 points from specific Max Day Trading time/price level entries from the UK morning session alone, with a minimum target of just 30.
A 10% target of this figure would have yielded 46 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.
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