Diversified currency savings accounts.

Yeah, I'm still here. Went into a slight pull back in gains after a massive run up the past month. It's just one of those things that happens when trading. A perfect example of why there is no Holy grail. No matter how much of an edge you have, you can't control what others do, even when you have probability on your side, everyone playing the game can switch what they're doing instantly.
As always, making these trades in my personal live account also.

CAGR about +100%
screen shot Demo 03 04 19.png
 
So, I am constantly visiting the prop firms threads and there seems to be the reoccurring theme that they are all scams and there are no real prop shops out there, well for the most part you are right. Of course there are no real shops, think about it, what business could be worse then one where the failure rate is 99.97%. The risk to back anyone is way too high. Even when you do find a viable trader, you're probably not going to back them because of the risk, so you're left with a couple traders that can't cover expenses.
Which leads us back to the qualification mills, totally makes sense. That's the only real viable model for most of the shops out there. Even for some of the larger known shops, they still have somewhat of a scam going. For them it's more discreet, charging you a buy in, first loss coverage. This is just another level of scamming though. Here you end up locking up your money for a year, being nickel and dimed on fees while adding money into the company for others to access. -Which could sound legit, but they're selling training, so you can assume they're not making money from trading, because what company would cheapen themselves by selling training. All they are doing is leading people to their death. Think about it, if you were selling training to eventually back traders, you'd more than likely have a bunch of traders trading the same strategy and that's not a good idea, that's not diversifying your risk. The only way that would be possible is if trading was an art form, which it's not, maybe it is on a small scale using small size using level2 or DOM. But selling it as an art form where you'll be backed with size, where you'd be trading off intuition which many of these places promise is not true.
Before I get hammered by people, let me make it clear, I'm not talking about already profitable traders, I'm talking about newbies that know nothing of trading that are being lead to believe a dream.
So what's the solution? You need a strong lead trader that can define the direction which those under that trader all follow. You need to see that trader make constant profits and be present through all the marketing. Everyone of those supposed prop shops advertising here on EliteTrader should have a presence here, showing their skill set day after day. They should be up front, letting clients know you're not going to be given their hard earned skill set for a few hundred dollars, but will be charged a slight commission and in return have a profit cushion to carry you until you develop your own skill set.

That's the problem, the lack of a strong lead trader.
 
Update: Just bouncing around waiting for the next run up in the account. Thought for sure it was playing out the last 2 days, but of course nothing goes as planned haha.

screen shot demo 03 07 19.png


Taken from my news feed.
Dow Jones
Global Forex and Fixed Income Roundup: Market Talk
Thu Mar 07 16:40:00 2019

The latest Market Talks covering FX and Fixed Income. Published exclusively on Dow Jones Newswires throughout the day.

1639 ET - The recent strong run by Australian shares looks set to end this morning, tracking overnight weakness on Wall Street after the European Central Bank moved to deploy additional stimulus. Futures hint at an opening fall of about 0.6% after the S&P/ASX 200 rose 0.3% to 6263.9 yesterday. The index has risen in 12 of the last 15 sessions, and is up 1.2% so far this week. Still, despite fresh worries about global growth, energy stocks may find a tailwind after Brent crude rose a fourth straight day. The country's Big Four banks are in focus today as bosses at Commonwealth Bank and Westpac face questioning by lawmaker's in the wake of last year's probe of industry misconduct. (robb.stewart@wsj.com; @RobbMStewart)

1634 ET - The peso reached its weakest level since early January, quoted in Mexico City at 19.56 to the US dollar compared with 19.35 Wednesday. A deterioration in Mexico's credit ratings outlook and a raft of downward revisions to economic growth estimates for this year are playing against the peso, says Banco Base. The dollar was broadly stronger after the ECB said it planned more monetary stimulus and cut its economic growth forecast for the euro zone to just 1.1% this year. Mexico's benchmark IPC stock index fell for an eighth straight session to 41,642 points, down 0.6%. (anthony.harrup@wsj.com)

1618 ET - New Zealand's NZX-50 index falls 0.1% to 9428.31 soon after opening, pulling back from Thursday's record close. The move lower mirrors events on Wall Street where US stocks retreated after the European Central Bank unveiled plans to deploy additional stimulus, raising fresh worries about the health of the global economy. Among the early fallers is Chorus, down 0.4% at NZ$5.40, and Refining NZ, which is down 1.9% at NZ$2.02. Meridian Energy's 0.5% rise to NZ$3.90 cushions the index's fall. (david.winning@wsj.com; @dwinningWSJ)

1607 ET - ANZ projects 4Q GDP growth of 0.6% in New Zealand, with data more likely to disappoint than positively surprise. It expects a small rebound in manufacturing volumes after two quarters of contraction. "Offsetting this, we expect a 0.8% quarter-over-quarter fall in total building work," ANZ says. If it's right, then GDP would miss the Reserve Bank of New Zealand's forecast for 0.8% growth made in its February Monetary Policy statement. While the RBNZ may still lean on indicators of tight capacity, and potentially higher inflation, the "outlook from here is more worrying," ANZ says. It sees GDP growing 2.5% this year, compared with RBNZ expectations for 3%. "In our view, this will see capacity pressures start to ebb--a worrying sign for domestic inflation--with the Official Cash Rate expected to move lower in time," ANZ adds. (david.winning@wsj.com; @dwinningWSJ)

1510 ET - Bank of Canada watchers may have to wait until mid-year to get a better sense of the central bank's likely rate path, TD Bank economist Brian DePratto says. DePratto notes that BoC Deputy Governor Lynn Patterson made reference in a speech on Thursday to wanting to see what the country's spring housing market looks like. "This suggests that we may be waiting until mid-year to get further material insight on the path forward for rates," DePratto said. In the meantime, BoC watchers can look forward to the central bank's next rate announcement in April, which will be accompanied by a quarterly update on the economic outlook and annual reassessments of Canada's potential output growth and estimated neutral rate. (kim.mackrael@wsj.com; @kimmackrael)

1431 ET - A senior Bank of Canada official reiterated during a press conference that it is not the central bank's practice to engage in currency intervention. Deputy Governor Lynn Patterson was asked during a press conference in Hamilton, Ontario, if the BoC would step in to support the Canadian dollar if it fell below a certain level. "We don't typically do any currency intervention. It's not part of our policies that we would focus on," Patterson replied. She said that if the loonie fell dramatically the central bank would want to understand the reasons behind the change, but currency intervention "is not part of an active toolkit that we use." The BoC has not intervened in foreign exchange markets to affect movements of the Canadian dollar in more than 20 years. (kim.mackrael@wsj.com; @kimmackrael)

1206 ET - The U.S. Senate's banking committee has advanced nominees to fill vacancies at the U.S. Export-Import Bank to the full chamber for approval. A favorable vote would allow ExIm to resume its proper work, including what Boeing CEO Dennis Muilenburg says is $40 billion in a backlog of deals--many for planes. But that is only one hurdle ExIm faces. Mr. Muilenburg says that in September, the export credit agency comes up for reauthorization, which could stir new political battles about the institution. (robert.wall@wsj.com)

1124 ET - European financial and mining stocks are on the back foot after the European Central Bank's rate hold and dovish outlook on the economy offset any potential lift from its announcement of a cash injection for banks. German, Italian and Spanish banks are among the biggest pan-European fallers, while in London, Fresnillo, Glencore and Rio Tinto are among the biggest mining losers. "The move initially propelled the major eurozone equity markets into positive territory, but it was short-lived," says David Madden at CMC Markets. "The underlying message from the ECB was negative, and that played out in the stock market." (philip.waller@wsj.com)

1102 ET - The European Central Bank has been pre-emptive rather than reactive, says Seema Shah, senior global investment strategist at Principal Global Investors. By announcing new liquidity operations earlier than the market was anticipating, the ECB has moved ahead of the curve and provided strong reassurance to the banking sector, and to the real economy to some extent that it will provide support if required, Shah says. The ECB announced a new series of targeted longer-term refinancing operations but these TLTROs themselves are unlikely to provide strong stimulus, but demonstrating its intent to act is half the job done, Shah says. (emese.bartha@wsj.com; @EmeseBartha)

1054 ET - Shares in European banks fall sharply after the European Central Bank said Thursday that it would leave interest rates unchanged at least until the end of the year, longer than investors had expected. Banco de Sabadell shares, which fall 7.7%, and Deutsche Bank stock, which is down 5.3%, are among the worst performers. UniCredit, Societe Generale, BNP Paribas, Credit Agricole, Commerzbank and UBS, among others, fall between 3.3% and 4.9%. (pietro.lombardi@dowjones.com; @pietrolombard10)

1053 ET - The European Central Bank's stimulus announcement is having a ripple effect in the federal-funds futures market, where traders are pricing in higher odds of a Federal Reserve rate cut by year-end. Futures recently showed a 14% chance of the Fed lowering short-term interest rates by the end of the year, a jump from 5.9% Wednesday and 6% a week ago, according to CME. The futures, while volatile, have over the past few months pointed to growing conviction among traders that the Fed will either leave rates unchanged throughout 2019 or lower them. The ECB's move, spurred by weakening growth in the eurozone and the rest of the world, gives traders more reason to believe that yields across developed markets will remain lower for longer. (akane.otani@wsj.com; @akaneotani)

1052 ET - The ECB's current strategy clearly follows the idea of "if you can't beat it, try to avoid it for as long as possible," says ING economist Carsten Brzeski. A severe downswing in the economy would now require unprecedented measures. But whatever the outcome, "today's ECB meeting clearly means that Mario Draghi will be the first ECB president who never hiked interest rates during his term in office," says Mr. Brzeski. (nina.adam@wsj.com; @Nina_Adam_)

(END) Dow Jones Newswires

March 07, 2019 16:40 ET (21:40 GMT)
 
Fantastic move in the major Gbp crosses, hope some of you caught that.

Eur/gbp +0.63%
Gbp/chf +0.66
Gbp/jpy +0.75%
Gbp/usd +0.69%

eurgbp target hit.png
gbpchf target hit.png
gbpjpy target hit.png
gbpusd target hit.png


Taken from my news feed.
Dow Jones
Market Talk Roundup: Gilt Issuance Set to Rise in 2019-2020
Mon Mar 11 12:28:00 2019

The U.K. Debt Management Office is expected to pencil in a significant rise in gross gilt issuance in the 2019-2020 fiscal year when it publishes the remit on Wednesday, when Chancellor Philip Hammond releases the spring budget statement. The following is a selection of analysts' comments.

0814 GMT - U.K. Chancellor Philip Hammond is expected to announce a large rise in gross gilt issuance during the spring budget statement Wednesday, according to Nomura. The bank is forecasting the country to ramp up debt issuance to GBP120 billion in the forthcoming 2019-20 fiscal year. The amount could be larger if Nomura didn't expect the Debt Management Office to take some of the strain by issuing U.K. treasury bills, it says. Higher issuance comes amid a significant increase in gilt redemptions during the same period. (lorena.ruibal@wsj.com; @lorena_rbal)

0949 GMT - Despite an improvement in recent U.K. public finance data, a weaker economic outlook should require the Office for Budget Responsibility (OBR) to trim its forecasts for growth and raise its forecasts for the deficit in future years, says Nomura's George Buckley. For the spring statement on Wednesday, the OBR is likely to trim its 2019 growth forecast to 1.3% from 1.6% projected in the Autumn budget statement in October, he says. This suggests an increase in the deficit of about GBP3 billion in FY2019-20, or 0.15% of GDP, and around GBP5 billion in subsequent years or 0.25% of GDP. That would in turn imply the revised OBR deficit peaking at around 1.6% of GDP in 2019-20, from a current forecast of 1.4%, before falling to around 1% of GDP over the longer-term, compared with OBR's current forecast at 0.8%, the bank estimates. (lorena.ruibal@wsj.com; @lorena_rbal)

1024 GMT - U.K. government bond issuance could rise by around 23% to GBP120 billion in the coming fiscal year 2019-20 compared with the current one, says Nomura. The country's financing requirements will be announced as part of the spring budget statement on March 13. T-bill issuance is also expected to rise by GBP1 billion to over GBP5 billion during the same period relative to FY2018-19, says the bank. A small funding overshoot of GBP1.5 billion in the financing requirement for the current FY2018-19 should have only a very modest effect on gilt and T-bill issuance in 2019-20 relative to the effect of higher redemptions, it says.(lorena.ruibal@wsj.com; @lorena_rbal)

1453 GMT - As part of the U.K. spring statement on March 13, the Debt Management Office is expected to release its gilt bond issuance program for fiscal year 2019-20. Given last year's price action, TD Securities expects the DMO not to issue too many longer-dated bonds during the period, with total gilt issuance projected at around GBP110-120 billion. The investment bank expects short and medium term tenures relative to longer-dated maturities and inflation-linked gilts this time. The expected breakdown is as follows: 27% in short-duration bonds, 23% in medium, 29% in longs and 21% in linkers, with the DMO likely to keep 2-3% unallocated at this stage, the bank says. TD Securities is projecting 5 syndicated deals: three longs and two linkers.(lorena.ruibal@wsj.com; @lorena_rbal)

1534 GMT - TD Securities expects the U.K. Debt Management Office's gilt issuance to hover around GBP110-GBP120 billion in the fiscal year 2019-20. The official figures will be announced as part of the spring budget statement due on March 13. While noticeably higher than the last year's level at GBP97.5 billion, the increase is largely driven by a GBP32 billion increase in gilt redemptions to GBP99 billion last year, the bank says. In net terms--supply minus redemptions--issuance will be lower. (lorena.ruibal@wsj.com; @lorena_rbal)

1607 GMT - The recent moderate demand for U.K. index-linked gilts at the ultra-long end of the curve makes UBS expect a further cut in the proportion of linkers in the remit allocation. Uncertainty over possible changes to the retail price index as a measure of inflation in the future, following a recent House of Lords report exposing the index flaws, reinforces UBS's view of lower linker issuance. The Swiss bank expects a cut in the proportion of linkers as a percentage of total gilt issuance to 19.7% in 2019 from 21.8% of issuance in 2018. This would be the lowest share for index-linked issuance since 2009, says John Wraith, head of UBS U.K. rates strategy.(lorena.ruibal@wsj.com; @lorena_rbal)

1617 GMT - U.K. government bonds ongoing safe haven demand and sizeable quantitative easing buybacks should ensure that the expected higher gilt issuance is easily digested by the market in fiscal year 2019-20, says UBS. The sector has seen relatively high bid-to-cover ratios and short yield tails in the current fiscal year, and this is likely to continue in the view of John Wraith, head of UBS U.K. rates strategy.(lorena.ruibal@wsj.com; @lorena_rbal)

1620 GMT - Given expectations of a significant cut in inflation-linked bonds, UBS is forecasting total conventional issuance to increase during fiscal year 2019-20. The U.K. Debt Management Office the official figures as part of the spring statement on March 13. The Swiss bank expects DMO to issue GBP37 billion of gilts maturing in less than 7 years (+44% on year); GBP31 billion in gilts maturing between 7 and 15 years (+49%), and GBP38 billion of gilts with a tenure of over 15 years (+28%). This heavier focus on shorts and mediums is appropriate in a period of potentially elevated uncertainty, the banks says. The DMO would also be addressing a potential future problem with quantitative easing reinvestments by issuing more medium-term debt, as the amount of gilts eligible for these operations could otherwise become scarce, it adds.(lorena.ruibal@wsj.com; @lorena_rbal)

(END) Dow Jones Newswires

March 11, 2019 12:28 ET (16:28 GMT)
 
Hello all :)
As always, these trades have been taken in my personal account as well.


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screen shot demo 03 11 19.png



Taken from my news feed.

Brexit nears the finish line
Mon Mar 11 17:06:24 2019
Risk appetite was very strong in the US as optimism grew that the EU and UK were inching closer to a Brexit agreement, retail sales in North America rebounded more than expected, M&A delivered a $6.9 billion tech deal, and a couple of technology giants got analyst upgrades. The Dow Jones Industrial Average posted a modest gain compared to the other indexes as Boeing posted its worst decline since the September 11th attacks. Boeing shares fell as much as10% on the day after a Boeing 737 MAX-8 crashed in Ethiopia over the weekend, it was the second crash in several months.


GBP – Do or die time for PM May

EUR – Bunds flirt with negative territory

Stocks – Tech leads the way higher

Oil – Crude higher on Saudi cuts and Venezuelan disruptions

Gold – Trade optimism keep bears in control


GBP

The British pound could have its biggest week of volatility since the Brexit referendum. Cable rose for the first time in eight sessions, as optimism grew that we could finally get some clarity on Brexit this week, that could ultimately lead to an extension of Article 50. The pound rose on several positive headlines that ranged from optimism that the EU is starting to provide meaningful tweaks in language on the backstop, Irish media noting that progress is being made, and to last minute meetings between PM May and EU Commission President Juncker.

This week could see three key votes from UK Parliament, the first will be the Tuesday vote on May’s latest Brexit deal, which is still expected to fail. The next day would then yield a vote on the legislation to leave the EU at the end of March without a deal. Parliament is expected to reject that, which would then deliver another important vote to see if they will want to seek an extension to the Article 50 negotiation period.

At then end of this week, the risk of a no-deal Brexit may be removed temporarily. The questions that remain are will we see a second referendum and will PM May have to deal with another confidence vote. Cable’s path higher is not a clear one and any extension that is approved in UK Parliament would need to be cleared at the EU Summit on March 21st and 22nd.

GBP_USD_2019-03-11_1d_m.png


EUR

The euro finished higher for a second consecutive day, shrugging off disappointing industrial production data from Germany and mainly benefitting from the broad risk rally. Safe-haven currencies, the Japanese yen and Swiss franc are also sharply lower on the session.

CFTC data showed that euro bearish bets grew 7.9% on the week ending March 5th to 78,166 contracts, the highest level since December 2016. Big investors and hedge funds may have been overly short last week and if the we do not see a quick return to 1.12, we could see a short-squeeze drive the euro back toward the 1.13 region.

A major headwind for the euro remains the steady decline lower with the yield on the 10-year German bund. Last week’s ECB policy decision signaled to markets that rates will not rise at the end year, and the slashed economic forecasts could mean negative rates could be upon us soon. Negative yields may detract some foreign investors, but negative rates may soon become common place as investors prefer German bonds over the struggling periphery.

EUR_USD_2019-03-11_1d_m.png


Stocks

The S&P 500 had its best day in a month as technology stocks led the way higher. Asia equities are poised to open higher after Bank of America Merrill Lynch raised their rating on Apple due to stability in its global supply chain. Optimism for Apple will also come from 5G upgrades that will affect 2021 deliveries.

Mergers and acquisitions are important for equities to remain attractive and today’s news that Nvidia will buy computer-networking supplier Mellanox Technologies in an all-cash $6.9 billion deal is very positive for the tech sector. Many analysts feared that the recent rally in tech stocks would derail deals in the short-term.

SPX500_USD_2019-03-11_1d_m.png


Oil

Crude prices were supported on news that Saudi Arabia will over-deliver on production cuts, for a second consecutive month, and expectations Venezuela will see their output fall even further due to the US sanctions and power outages that are ravaging the country. Saudi Arabia is committed to rebalancing the oil market and have taken the lead on delivering the bulk of the production cuts. With US production likely to ramp up in the warmer months, Saudi Arabia appears poised to rebalance the market before the April 17th and 18th OPEC meetings. Saudi Arabia is also delivering cuts to exports in the US, which has forced the US to use up their inventories.

The market is expecting for OPEC to extend their production cuts in April, but the effects will likely see crude struggle higher as US production begins to ramp up. Once when we start to see both rig counts rise in the US and production levels increase, oil may see a pullback that takes West Texas Intermediate back to the mid-$40 region. Global growth is the other key side to the direction for oil and stable growth would be supportive for prices, but we may not the effects of Chinese fiscal stimulus kick in until the latter part of the year.

WTICO_USD_2019-03-11_1d_m.png


Gold

Gold appears it will struggle to muster up a rally unless we see talks fall apart in the US-China trade war. The precious metal was unable to recapture the $1,300 an ounce level as a broad risk-on trading session was supported by a rebound with US retail sales, trade optimism, and a robust stock trading session that was led higher by tech stocks.

Expectations are for trade deal to be queued up this month and the precious metal may need the market to see a trade deal finalized to flush out the shorts. The potential of a letdown on the terms of the US-China trade agreement are high and that might be the catalyst the yellow metal needs to get its mojo back. The announcement of a deal could drive gold sharply lower initially but we could see a bottom put in place as the markets would then shift to the accommodative stances being broadcast by all the major central banks.

XAU_USD_2019-03-11_1d_m.png
 
Last edited:
Account update. Wow, some incredible moves in Gbp crosses again. Huge volatility going on. In the last 48 hours, my clients and I have hit 8 profit targets. The rest of this week is going to be interesting to say the least, I couldn't imagine having to guess what is going to happen. Hats off to any traders out there able to manage positions through this.
As always, my personal live account is trading these positions as well.

Live account exposure. Top left corner black 'A' indicates live account.
exposure live account 03 12 19.png



Demo account. Top left corner white 'A' indicates demo account.
screen shot demo 03 12 19.png


Taken from my news feed.
May’s Brexit Vote defeated by 149 votes
Tue Mar 12 16:52:54 2019
Asian equities are poised to open higher as technology stocks led the way higher in North America. Key data in Asia will see many investors focusing on both Japanese producer prices which are expected to rebound and core machine orders which are expected to fall sharply.

Brexit – May loses Brexit vote by a substantial 149 votes

Stocks – Modestly higher as softer inflation confirms Fed’s dovish pivot

Gold – Softer US inflation and Brexit spur demand

Oil – Saudis promise for further cuts have run its course

Brexit

Prime Minister May suffered another crushing defeat that will likely see her deliver an extension to Article 50, which might require new leadership. Tomorrow’s vote is widely expected to see the risk of a no-deal Brexit taken off the table and a Thursday vote should see Article 50 extended. Immediately following the 391-242 vote, PM May confirmed the agenda for the votes for the next two days. She noted that the House will have to answer if they want to revoke Article 50 or have a second referendum. The British pound spiked higher after the vote but quickly retraced back to the 1.3080 region. Brexit volatility is expected to remain high as any extension will need EU approval.

GBP_USD_2019-03-12_1d_m.png


Stocks

Excluding the Boeing story and the its effect on the Dow, stocks continue to rally as mild inflation appears to be all that is needed to confirm investors expectations that the Fed is going to remain on hold. For stocks to attempt to recapture the highs from last year, the markets are requiring a conclusive trade agreement to be reached by the US and China.

The Treasury Curve saw yields continue to drop sharply, with the 10-year falling 4.1 basis points to 2.598%. The 10-year and 2-year gap narrowed to 14.4 basis points, to the lowest level of the month. Inversion concerns and the ultimate trigger of a recession have been alleviated but if we see continue to see yields under pressure, we may have lower baseline later in the year for the curve to invert.

SPX500_USD_2019-03-12_1d_m.png


Gold

The precious metal revisited the $1,300 an ounce level as muted inflation confirms the Fed is not raising rates anytime soon. Fed funds future expectations still see the next move for the Fed to be a rate cut, however that could quickly change after we see a trade deal in place. The stock market selloff that started at the end of last year is about to have all the major headwinds become tailwinds: A no-deal Brexit is close to be taken off the table, the Fed ended their tightening cycle, China softened their stance on deleveraging and lastly we may be nearer to a trade deal between China and the US.

XAU_USD_2019-03-12_1d_m.png


Oil

West Texas Intermediate crude somehow manages to consistently rally on news the Saudis are committed to rebalancing oil markets and will do their share of heavy lifting with the production cuts. The rise in oil prices is being kept in check as the risks for rising US production and falling global demand starting to take focus. US inventories are once again expected to deliver another strong build tomorrow and rig count data at the end of the week could show some signs of stabilizing. Tomorrow, China will have key data that may help confirm the slowdown that has seen industrial production steadily decline over the past year.

WTICO_USD_2019-03-12_1d_m.png
 
Again, the word of the day is WOW! Gbp has been turning out a string of winners for my clients and I. Eur/gbp hit it's target, Gbp/jpy hit it's target along with Gbp/usd hitting it's target. We were on the opposite side with Gbp/chf, so that hit it's stoploss.

Here is a screen shot of my live personal account. Black 'A' in the top left corner denotes live account.
eurgbp target hit 03 13 19.png
gbpjpy target hit 03 13 19.png
gbpusd target hit 03 13 19.png
gbpchf stoploss hit 03 13 19.png



Taken from my news feed.
GBP/USD – British pound soars amid Brexit chaos
Wed Mar 13 11:55:25 2019
GBP/USD continues to show volatility this week. In Wednesday’s North American session, the pair is trading at 1.3212, up 1.04% on the day. In economic news, there are no British indicators on the calendar. The government released its annual budget, and parliament votes on whether Britain should leave the E.U. without an agreement in place. in the U.S.,

The Brexit saga continues, as Prime Minister May suffered another defeat in parliament on Tuesday. Lawmakers once again overwhelmingly rejected the government’s withdrawal proposal, despite extensive lobbying by May. Many conservative lawmakers remain skeptical about the Irish backstop proposal, suspicious that the provision will prevent Britain from departing from the European Union. Later on Wednesday, parliament votes on a no-deal Brexit. If this proposal is rejected, lawmakers would vote again on Thursday on a request to extend Article 50, the mechanism for Brexit. However, it’s far from clear how long the delay would last, or if the E.U. would agree to an extension. The uncertainty over Brexit could sour investors on the pound, although the currency has posted sharp gains on Wednesday.

In the U.S., consumer inflation remains soft, which means there is little pressure on policymakers to raise rates in the near future. In February, Core CPI edged down to 0.1%, while CPI remained steady at 0.2%. Consumer inflation remains well below the Federal Reserve’s target of 2.0 percent, so there is little pressure on the Fed to raise rates anytime soon. Policymakers have been signaling that the Fed could stay on the sidelines until the second half of 2019, and this stance was underscored by Fed Chair Powell in a television interview on Sunday. Powell left no doubt about where the Fed stands, saying that the Fed would remain patient and was in no hurry to change interest rate policy. The dovish stance of the Fed could weigh on the dollar, as a lack of rate hikes makes the greenback less attractive to investors.

Pound steadies ahead of next Brexit vote

Global markets gently simmer

Brexit and Trade Continue to Weigh on Growth Concerns

GBP/USD Fundamentals

Wednesday (March 13)

  • 8:30 US Core Durable Goods Orders. Estimate 0.1%. Actual -0.1%
    8:30 US Durable Goods Orders. Estimate -0.5%. Actual 0.4%
  • 8:30 US PPI. Estimate 0.2%. Actual 0.1%
  • 8:30 US Core PPI. Estimate 0.2%. Actual 0.1%
  • 8:42British Annual Budget Release
  • 10:00 US Construction Spending. Estimate 0.4%. Actual 1.3%
  • 10:30 US Crude Oil Inventories. Estimate 2.7M. Actual -3.9M
  • 13:01 US 30-year Bond Auction
  • 20:01 RICS House Price Balance. Estimate -24%
  • Tentative – Parliament Brexit Vote. Estimate – Reject
Thursday (March 14)

  • 8:30 US Unemployment Claims. Estimate 225K
  • 10:00 US New Home Sales. Estimate 622K
  • Tentative – Parliament Brexit Vote
*All release times are DST

*Key events are in bold

GBP/USD for Wednesday, March 13, 2019

GBP_USD_2019-3-12_2d_m.png


GBP/USD March 13 at 11:50 DST

Open: 1.3077 High: 1.3217 Low: 1.3061 Close: 1.3212

GBP/USD Technical

S1 S2 S1 R1 R2 R3
1.2910 1.3070 1.3170 1.3258 1.3362 1.3460
GBP/USD ticked higher in the Asian session. The pair recorded considerable gains in European trade and the upward movement continues in the North American session.

  • 1.3170 has switched to support after sharp gains by GBP/USD on Wednesday
  • 1.3258 is the next resistance line
  • Current range: 1.3170 to 1.3258
Further levels in both directions:

  • Below: 1.3170, 1.3070, 1.2910 and 1.2831
  • Above: 1.3258, 1.3362 and 1.3460
 
Inching this account up. Another stoploss was hit, for a total of 3 targets being hit and 2 stops being hit.

Live personal account exposure. Black 'A' in top left corner denotes live account.
Live account exposure 03 13 19.png


Demo account used to track trading. White 'A' in top left denotes demo account.
screen shot Demo 03 13 19.png



Taken from news feed.
U.K. Lawmakers Vote Against Leaving EU Without a Deal -- Update
Wed Mar 13 16:29:00 2019
By Stephen Fidler and Jason Douglas
LONDON -- British lawmakers on Wednesday unexpectedly ruled out a no-deal exit from the European Union, throwing Prime Minister Theresa May's Brexit strategy into further confusion.

The surprise decision likely eliminates the prospect of a chaotic U.K. departure from the bloc that many businesses have depicted as a worst-case scenario for the country's economy. It came a day after Parliament resoundingly rejected for a second time the deal the prime minister negotiated with the EU laying out conditions for the country's orderly separation from its biggest trading partner.

Mrs. May said that despite Wednesday's vote, under U.K. and EU law the U.K. will still leave the EU without a deal on March 29 unless Parliament figures out what it wants.

"The onus is now on every one of us in this House to find out what that is," she said.

"In the last 24 hours Parliament has now rejected both her deal and no deal," Jeremy Corbyn, leader of the main opposition Labour Party. "Parliament must now take control of the situation."

After Tuesday's defeat, Mrs. May said she would put a vote before Parliament over whether to rule out a no-deal exit on March 29, when the U.K. is currently scheduled to leave the EU. That would have postponed -- but not eliminated -- the possibility that the U.K. leaves the EU without a deal.

But lawmakers seized on an amendment to Mrs. May's proposal in an effort to rule out altogether the prospect of a no-deal exit, and passed it by 312 votes to 308. The amendment's original Conservative sponsor had withdrawn it after the government ordered its rank-and-file lawmakers to oppose it. But the measure was picked up by a cosignatory from the main opposition Labour Party and the vote was allowed.

A final vote showed an even bigger majority of 321 votes to 278 against a no-deal exit.

The pound rose against the dollar after the surprising vote result, as investors sensed that the chance of a disruptive Brexit on March 29 have lessened. The pound was up as much as 1.5% on the day, with one pound buying $1.327. That is still weaker than where it traded as recently as Feb. 28.

While the vote makes it much less likely that Britain will leave the bloc without a departure agreement, technically that outcome can't yet be entirely ruled out. Other EU countries must first agree to delay Britain's departure beyond March 29, and then a deal must be reached and ratified before whatever new deadline is set.

Curiously, in the short term, the vote may force some anti-EU hard-liners to fall in behind Mrs. May's deal, which she will almost certainly again bring to a vote in coming weeks. That is because the longer Britain's departure date is delayed, the more likely lawmakers are to force through an exit agreement with much closer ties to the EU than Mrs. May has envisioned -- or even set up a second referendum on Brexit.

Lawmakers will now likely vote on Thursday in favor of a further proposal to request a delay in Britain's scheduled exit date beyond March 29. That would require the unanimous approval of the other 27 EU governments.

Other member states are likely to agree to an extension during a summit in Brussels that starts on Thursday of next week. However, it isn't clear what length of extension they would prefer and whether conditions would be imposed.

If a further vote on her deal fails, a longer delay now becomes much more likely. That could allow Parliament to force her into negotiating much closer ties to the bloc than the government wants, or even into providing the opportunity for a second referendum.

Earlier Wednesday , the government underlined that a no-deal Brexit was still in the cards by unveiling the tariff schedule the U.K. would apply temporarily to all imported goods in case of a sudden break from the EU.

In a proposal aimed at easing the pain for consumers, the U.K. trade ministry on Wednesday said it would eliminate tariffs on almost 90% of goods imported into the U.K. by value. But it also proposed tariffs protecting sensitive British industries, including car and ceramics manufacturers and meat producers, after which consumer prices would likely rise.

Currently, all goods from the EU enter the U.K. tariff-free, while goods from outside the EU carry a range of tariffs determined by the bloc.

The U.K. also said that in a no-deal scenario, it wouldn't impose any checks or duties on goods imported into Northern Ireland, part of the U.K., over the politically sensitive border from the Republic of Ireland, an EU member state.

Treasury chief Philip Hammond, a close ally of Mrs. May, highlighted the potential economic benefits of a smooth and orderly exit in a regular budget update to Parliament Wednesday, saying the U.K. would experience a "deal dividend" that would spur growth and boost tax receipts.

"Last night's vote leaves a cloud of uncertainty hanging over our economy. And our most urgent task in this House is to lift that uncertainty," he said.

Write to Stephen Fidler at stephen.fidler@wsj.com and Jason Douglas at jason.douglas@wsj.com

(END) Dow Jones Newswires

March 13, 2019 16:29 ET (20:29 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.
 
More targets have been hit. Aud/usd hit it's target along with Gbp/usd and Usd/jpy. New home sales data is coming out in 10 minutes, so there could be more targets being hit. Still have many positions open that are in the money.

Screen shots taken from my live private account. Black 'A' in top left denotes live account.

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Taken from my news feed.
UK lawmakers publish plan to break Brexit impasse
Thu Mar 14 08:55:37 2019
British lawmakers published a plan on Thursday to take control of the parliamentary agenda on March 20 with a view to forcing a future discussion of Brexit options, aimed at finding a majority to break the current impasse.

The plan, supported by lawmakers from both Prime Minister Theresa May’s Conservatives and opposition parties, would overturn the usual rule that the government controls what is discussed in parliament.

One of the amendment’s signatories, lawmaker Oliver Letwin, said that any indicative votes on Brexit alternatives following on from the March 20 discussion would take place in the week beginning March 25.
 
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