10 year spread is on the trot, hoping it has legs. The uncertainty of news changing sentiment, i feel is adding risk to any swing trades. I am going to treat each opportunity as though its a single session trade in terms of targets. Tomorrow i think we are going to see some sentiment either way with major political events for brexit take place. There are rebel mps on both sides so its going to be interesting.
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I agree that political news tend to drive sentiments for just one session as with the recent event unlike tier one fundamentals. Brexit had been rather painful to trade GBP in many respects because of the swings in price movement that it generates be it negative or positive. Trading, unfortunately is never easy.
My account is up £50 putting me 1/4 the way to my target (£200) from10 pence per pip on an initial £400 account size. Once I reach the target I have sufficient evidence that I am on the road to success and will begin injecting funds every month. The goal is to start building up the account size and get more experience trading larger sizes. This should put me in a position to gain at least 2 years of results which I can then use to start building a business and potentially get into a fund or similar to allow me to build up enough capital to go professional on my own. Looking forward to the next 6 months to see where I am then. I am starting to feel comfortable in the process and feeling very confident I am on the right track.
My fundamental driver is that this move off the back of German Gdp is not enough to change central bank policy and that nothing has really changed. Underlying inflation is still flat and the ecb is not tightening while the fed are. Also, Germany is just one member in the euro area and other nations are not near as strong. Germany has been moaning about the ecb and stating they are at risk of overheating. No other members have this problem and some in fact can't afford a rate increase. So there it is, just an excuse to buy euro temporarily for a retrace into an area to sell again.
Took 50 pips off that level on EURUSD. Plan is to milk this piggy again when it has another go at the highs. This sentiment shouldn't last long and there is chatter on a December fed hike. How much of it is priced in I think is going to be coupled with the quality of the data being released. Any signs of acceleration in growth and inflation pressure is sure going to make the $ look a little cheap.
