by Ian McArthur | May 28, 2021 | Weekly Roundup
WELCOME TO OUR WEEKLY ROUNDUP.
Coronavirus, EU relations (Brexit) and US voting fraud investigations continue to cause very low volumes and volatility, as the markets wait for clearer conclusions as to final outcomes. The Arizona forensic audiit looks set to continue until the end of June, where full findings will be published.
FRIDAY
Yesterdays announcement of an immanent UK interest rate rise and subsequent spike in the pound didn’t last long come the UK open today. This pushed the GBP Index to the top of the H4 chart which left little room for manoeuvre in gaining points.
There was also a steep plummet in the AUD Index on trade tensions with China. This benefited our Dom long paired currencies (GBP/AUD) but was a big hindrance to the Dom short EUR/AUD.
Early German economic data lifted our Dom long Dax but the price movement had to find an exhaust level an hour after the 7am data release.
The end of the week saw a reduced maximum potential of 415 points from specific Max Day Trading time/trend entries within our five instruments from the UK morning session alone, with a minimum target of just 30.
JUST A TEN PERCENT target of this figure would have yielded 41 net points from specific Max Day Trading time/trend entries, with many additional opportunities in the US morning (UK afternoon) and US afternoon (UK evening) sessions.
Weekly potential points came in at a lowly 2,500 on hugely reduced volumes.
by Ian McArthur | May 27, 2021 | Daily Results
Volumes and momentum remain horrendously low and coupled with poor ICS Balances as weak indexes battle it out, price movements within technical Dom trend directions remains manic. I don’t care what intraday strategy you may be using at the moment, points are difficult to gain as trend predictions become harder because of low volumes. There was a brief boost to the UK pound as the central banks hint on an interest rate rise. However in 15 years of trading, I’ve never seen the markets as bad as this and have seen far higher volumes at the height of the summer and Christmas holidays. What on earth are the markets waiting for ???
Rant over! Despite this, there were still some decent trades at our normal times in all our instruments.
Thursday actually saw another slight increase on yesterday with a maximum potential of 520 points from specific Max Day Trading time/trend entries within our five instruments from the UK morning session alone, with a minimum target of just 30.
JUST A TEN PERCENT target of this figure would have yielded 52 net points from specific Max Day Trading time/trend entries, with many additional opportunities in the US morning (UK afternoon) and US afternoon (UK evening) sessions.
by Ian McArthur | May 26, 2021 | Daily Results
We were fully aware before the UK open today that momentum within currency trends was going to be minimal, and this fact didn’t disappoint but the lack of points did! There were still dome decent earlier trades at our usual times but again, volumes are painfully low for this time of year.
The star of the show again was the Dom short German Dax and here we had our usual manic though very decent points.
Wednesday saw a slight increase on yesterday with a maximum potential of 510 points from specific Max Day Trading time/trend entries within our five instruments from the UK morning session alone, with a minimum target of just 30.
JUST A TEN PERCENT target of this figure would have yielded 51 net points from specific Max Day Trading time/trend entries, with many additional opportunities in the US morning (UK afternoon) and US afternoon (UK evening) sessions.
by Ian McArthur | May 25, 2021 | Daily Results
The UK pound started the day on the weak side so any Dom long pairs were attributed to an even weaker partner. By mid morning, negative CBI Retail figures dragged the pound further down come the US open. Despite this, our GBP pairs were trending both long and short with good points in all on reduced volumes.
The Dom short EUR/AUD went off the boil by mid morning with positive German data that lifted the euro. Still some decent early trades at our usual times.
The Dax had a bit of a roller-coaster ride with early negative German economic data and late positive data. Volumes here are well down too with decent but restricted points.
Tuesday saw a slightly reduced maximum potential of 465 points from specific Max Day Trading time/trend entries within our five instruments from the UK morning session alone, with a minimum target of just 30.
JUST A TEN PERCENT target of this figure would have yielded 46 net points from specific Max Day Trading time/trend entries, with many additional opportunities in the US morning (UK afternoon) and US afternoon (UK evening) sessions.
by Ian McArthur | May 24, 2021 | Daily Results
Despite some terrible ICS Balances, our technical Dom directions did very well this morning with good trades in both the long and short direction. Volumes remain low and this was unusually evident in the German Dax which usually yields double and triple the gains of today.
The start of the week saw a reasonable maximum potential of 590 points from specific Max Day Trading time/trend entries within our five instruments from the UK morning session alone, with a minimum target of just 30.
JUST A TEN PERCENT target of this figure would have yielded 59 net points from specific Max Day Trading time/trend entries, with many additional opportunities in the US morning (UK afternoon) and US afternoon (UK evening) sessions.
