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Take care with any trade plan numbers until there is a move backed by global market volume; right now we have a concern that the intra-day volatility has become a little extreme because of such low volume trade. We would ideally like to see some stability come into the break-outs, but accept that until the 4 hour channel price points, as revealed on the Trade Plans, break hard we are likely to see two, three, or four re-tests of the same price points, the LFB Trade Team said.
It is a time of year that 20:00 EDT (Hong Kong and Japan), 02:00 EDT (German Dax futures moves), and 07:00 EDT (Chicago reaction to London Fixings on oil, gold and Libor rates) become critical to catch the momentum of. Outside of these times a lack of volume tends to show itself in the form of failed breaks, the Trade Team added.