by Ian McArthur | May 11, 2020 | Daily Results
Fundamentals played absolute havoc with our technical Doms today. The pound index started off strong at the UK open but it wasn’t long before the London market movers started dumping the GBP based literally on the mixed messages in last nights PM speech about the coronavirus and the UK economy. There was also an EU court ruling that could have serious ramifications to our own courts. The usual bullying tactics.
This disrupted our Dom Long GBP/JPY and GBP/USD but not before some decent early trades. You may have thought this would play into the hands of our Dom Short GBP/AUD. No such luck. We had the proverbial strength reversal of the AUD, which started the session strong but plummeted in the early hours. This also played havoc with the Dom Short EUR/AUD, sending this long.
The German Dax started Dom long but announcements on the German federal deficit looking to triple by the end of this year had stocks heading south very quickly. This was compounded by an unexpected spike in German coronavirus infections. Fundamentally there were spanners thrown in all our instruments and whatever could go wrong did go wrong.
HOWEVER despite all this, we still had some good early trades and managed a maximum potential of 395 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 39 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.
The quicker we get rid of these additional fundamentals and get back to predictive technical trading, the easier and better things will be. Until then, we’re just going to have to put up with these disruptions which could be amplified with a return of the dreaded Brexit negotiations. Does anyone have a time machine ???
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by Ian McArthur | May 7, 2020 | Daily Results
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.
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by Ian McArthur | May 6, 2020 | Daily Results
We had another superbly accurate day with our Dom trend directions and specific trade entries. Our Dom Short GBP pairs were helped on from the UK open with up-and-coming high volatility news at 9.30am. Not only did we have a huge pre news sell-off, the price continued short on large deviation negative UK Construction data.
The EUR/AUD was Dom Short until a rebound from the US open, mainly due to a poor ICS Balance. All UK morning trades were very good with easy entry levels.
The German Dax was Dom Long with excellent trades in its usual manic fashion.
We had another very respectable maximum potential of 885 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 88 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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by Ian McArthur | May 5, 2020 | Daily Results
UK fundamentals had little effect on our GBP pairs today. We expected a pre news sell-off which came fairly late but was quite dramatic. Our Dom Long GBP/JPY and GBP/USD pairs benefited from this drop, allowing some excellent post news aftermath points from the positive UK Services data.
We had a straightforward Dom Short EUR/AUD and a rather manic Dom Long German Dax with some excellent points in both.
We managed another very respectable maximum potential of 815 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 81 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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by Ian McArthur | May 4, 2020 | Daily Results
Technically, we had a weak GBP so our only Dom Long GBP/AUD was always going to struggle. However there were still some good early trades up to the latter part of the morning. Our Dom Short GBP/JPY & GBP/USD would have been our preferred pairs for trading the pound, with excellent points in both.
The Dom Long EUR/AUD suffered from a weakening Euro and also our little friend again, an initially weak AUD that gained strength after the UK open. Despite this, there were still some decent early trades.
The German Dax was an awkward one today. After a large weekend gap down, the Dax appeared to be gaining strength as a Dom Cat 2, which is not of tradable strength. Our official Doms on this was still a 5 Short, in correlation with all other major stock indexes. High volatility German news was due out at 8.55am and low and behold, we had a price rise up to the announcement of positive Manufacturing data. As the news was already built in, there was no post news aftermath and the price quickly resumed our short Dom direction. Some very good points in early trading though.
We managed another very respectable maximum potential of 890 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 89 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.
For those who have not joined either our Free Telegram Channel or VIP Channel why not come and see how we do what we do? Go to our homepage to find out full details.
