by Ian McArthur | Jan 26, 2021 | Daily Results
An immediate spanner was put in the works of our Dom short GBP pairs, with positive UK data announced at 7am. Poor ICS Balances, notably a weak UK pound made even trading the Dom long GBP/AUD difficult.
There was also a poor ICS Balance and no momentum in the EUR/AUD as each currency was weak.
The strange one of the day was the Dom short German Dax, which gradually rose from the UK open and right through to the US open. The only technical explanation is that the price was at the bottom of the H4 chart and very close to major support, as there were no fundamentals that could have caused this.
Tuesday saw a greatly reduced maximum potential of 310 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.
A TEN PERCENT target of this figure would have yielded 31 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 | Jan 25, 2021 | Daily Results
We didn’t have a good start to the week, with negative German data going against the Dom long Dax and Covid news that weakened the UK pound and against our Dom long GBP pairs. We’re also still witnessing low volumes in all our instruments and this limited our overall point gains. Despite all this, some decent points were still available at our usual times.
Monday saw a reasonable maximum potential of 440 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.
A TEN PERCENT target of this figure would have yielded 44 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 | Jan 21, 2021 | Daily Results
The markets seem to be continuing more of a consolidation mode with low volumes and poor ICS Balances.
There were some immediate dismissals today, namely the Dom short GBP/JPY & GBP/AUD on a strengthening UK pound. All other instruments just meandered throughout the morning but still with some decent points available, especially the German Dax.
Thursday saw another reasonable maximum potential of 440 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.
A TEN PERCENT target of this figure would have yielded 44 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 | Jan 20, 2021 | Daily Results
We had a very quiet day with continued low volumes and little momentum anywhere. We also had economic data that benefited our GBP pairs but went against the EUR/AUD and German Dax. The low volumes may have been due to the up-and coming US presidential inauguration.
Wednesday saw another reasonable maximum potential of 370 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.
A TEN PERCENT target of this figure would have yielded 37 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 | Jan 19, 2021 | Daily Results
Currency volumes are unusually low at the moment, possibly due to market movers being away from their offices and/or the US inauguration tomorrow. ICS Balances were good in some pairs and not so good in others. The decent ones were the GBP/JPY and the GBP/USD to a certain degree with fair points available in all.
The ICS Balance conflict continues within the Dom short EUR/AUD and I issued a warning against this pair as being ‘borderline.’ The strengthening euro also kept a lid on overall gains in the German Dax.
Tuesday saw another reasonable maximum potential of 455 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.
A TEN PERCENT target of this figure would have yielded 45 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.
