We generally had a strong pound today so we knew from the onset that our Dom short GBP/AUD was going to struggle. This was due to an equally strong AUD which was a major conflict within our ICS Balances. We still had some decent early short trades before the pound took dominance. Our other (long) GBP pairs did superbly with much better ICS Balances.
There was also a conflict within the EUR/AUD with 2 strong currencies battling it out. In this case, the long Doms took control on a weakening AUD due to some selling at the top of the Daily chart.
Swiftly on to the Dom short Dax. The first annoying part was advertised data on our ‘Investing’ calendar that failed to materialise at 7am. This is now scheduled for tomorrow. Secondly was an apparent data leak (again) of generally positive German data at 8.55am. This resulted in price rising from just under 1 hour before the announcement at a time we usually see selloffs. Once the data was released, the price was already built in and we saw some aggressive profit taking with the price dropping sharply. After this, the price ended up understandably net long come the US open.
Today we managed a decent maximum potential of 640 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 64 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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