by Ian McArthur | Apr 26, 2020 | Weekly Roundup
Friday saw all our currency pairs comply very well with our technical Dom conclusions. This was despite some far from ideal ICS Balances. However we had the benefit of pre-news selloffs and then negative UK data for our Dom Short GBP pairs with some very good points available.
There was also plenty of negative EU data to bolster our Dom Short EUR/AUD but surprisingly enough, even negative German data did nothing to prevent the Dax rising against our short Doms but not before some excellent early trades in the short direction. My only technical explanation for this was the big rise and fall in price the previous day and our Dom 3 factored in this drop by showing short (along with 4 & 5).
We had another respectable maximum potential of 715 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 71 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 | Apr 23, 2020 | Daily Results
There was quite a lot of economic data covering Europe, the UK and the US. Starting with the UK, we has a string of negative data from 9.30am which we knew was going disrupt our long Doms. However our GBP pairs fared much better today than yesterday. We expected the usual pre-news selloffs, which we got and by the time the news was announced, the negative news was already built in and surprisingly enough the long Doms continued not long after.
Our ICS Balances were good in some pairs and not so good in other.
One of the best was the EUD/AUD which dropped like a stone on our short Doms. This was a similar with the German Dax. Dom Long with negative news with the price built in and our long Doms continued.
Today we had another very respectable maximum potential of 920 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 92 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 | Apr 22, 2020 | News
Fundamentals immediately put a spanner in the works of our Dom Short GBP pairs with positive UK data at 7am. The strengthening pound was further aggravated by a weakening JPY, a weak plus AUD and a USD that strated to weaken from the London open. This eliminated any technical trades in the GBP/JPY and GBP/AUD, an extremely rare occasion. However again, we were armed with this information from the onset with our ICS Balances and this allowed us our choices.
Because of the UK data and with reference to our ICS Balances, it would have been quite feasible to safely trade the GBP/JPY & GBP/AUD in a more fundamental fashion against our technical short Doms. However this strategy is technical, not fundamental and we must stick to those rules.
Entries were manic but still at our specific Max Day Trading time/price level entries and we managed a maximum potential of 535 points from the London morning session alone on reduced instruments, with a target of just 30.
A 10% target of this figure would have yielded a minimum of 53 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) session.
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.
by Ian McArthur | Apr 21, 2020 | Daily Results
Current economic data releases are confusing in the fact that we’re well into the latter half of April yet we are still getting data for February, with the all important March still in the background. A main example today was the UK unemployment rate of 4.0% – as of February . Strange. On the Oil front, the new WTI contract started the day at $19.78pb but quickly dropped to $6.48pb on continued storage concerns before recovering slightly to $12.96 at the time of writing. We also have API Weekly Crude Oil Stocks out shortly. Will be interesting to see the figure and how the price reacts.
All our instruments did very well today in both our long and short Dom trend directions with some excellent points available. Volumes and volatility have settled but still our brokers continue to charge over the odds, a bit like how we’re still getting ripped off at the petrol/diesel pumps!
Today we had a very respectable maximum potential of 920 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 92 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.
by Ian McArthur | Apr 20, 2020 | Daily Results
Remember this day as we are seeing history in the making. US Oil fell to as low as 1 Cent a barrel, the lowest in it’s entire history of before settling at 10.5 Cents on suspension of trading. Back in June 2008, US Oil hit a high of just over $147 per barrel. This is the current ‘cash’ contract which I believe expires later tonight. All future contracts are trading higher but still at unprecedented lows. Will be interesting to see what the new cash contract trades at. The main reason for this is lack of storage in the US, all are full to the brim upon lack of demand from the coronavirus. I will also expect a huge reduction in US Shale oil rigs as some have a break-even of $40pb. Fridays Baker Hughes oil rig count will also be interesting as the current number stands at 529.
Anyway, our GBP pairs, which were technically Dom short did very well today with some good points available on far from ideal ICS Balances. One of the worst ICS Balance was the EUR/AUD and this showed on the manic movement of price. However we knew this before we traded and this was one to avoid.
The German Dax was the same. This started the morning in conflict with the US Dow and negative German data didn’t bode well with our long Doms. Despite this there were some excellent early trades in the long direction, though identifying price entries was more tricky than normal.
Volatility is now levelling off and even our brokers spreads are nearing normal too. This gave us a maximum potential of 475 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 47 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.
