Trading Plan – Monday 10th February 2020: Markets calm, waiting for sentiment drivers to appear

Mark Nugent Feb 2020, Trading Plan

Trading Plan – Monday 10th February 2020: Markets calm, waiting for sentiment drivers to appear

Last Week

Events and Calendar
Coronavirus was the key issue all week, driving sentiment.
OPEC+ recommended a 600K BPD cut, Russia yet to agree.
China delayed Trade Balance numbers, due Friday, for a month.
Trump is exonerated in impeachment vote.

Risk Sentiment
Bizarrely, risk sentiment was positive on Tuesday and Wednesday on coronavirus vaccine news.
Gloom returned by weekend, with Friday being strongly risk-off.

Asset Classes
Equities were up, with Tuesday and Wednesday’s rise crowding out falls on the other days.
WTI moved below its consolidation zone.
USD broke its downtrend.
Commodity currencies rose on the week, again due to Tuesday and Wednesday’s risk-on sentiment.

This Week

As of Monday mid-afternoon UK-time, sentiment is indecisive and I am waiting for a clear shift to become apparent. In the video I discuss trading opportunities that are dependent upon the sentiment and I also look at the currencies that have a low correlation to market sentiment.

Have a great week.

VIP Club members can watch the video HERE