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No worries  - actually today you could have had a long-term trade from my suggestions - shorted the early 10:30am rally, locked in safely by lunch, held on to the close!  6 hours :)


But being serious...


The market did seem to do as it was told today.  Early selling, rallied for an obscure reason (haven't had a good look if it was signficant - off the top of my head no).  Then was quite erratic up there.  Sold off, then rallied - ranging moreso - but a good place to short.  Fell strongly into 12pm, then continued down into lunch.  Rallied off a low there but ran out of steam - until 1pm which China amped things up a bit.  Most likely the govt. stepping in (to be blunt) - the SPI rallied until the aglo's said enough - and it sold all that off.  Got a bit fidgety then, not knowing what to do, so ranged into the close, selling off rallies.  Tricky to trade - so while it was easy for me to suggest what I did this morning (which was surprisingly useful) - in real-time you would have had to block out a few distractions and just sell the rallies. 


A busy Monday, with decent volume on both the SPI and the majors.  General weakness.  Dow futures staying weak as did China (despite the brief hiccup).  After the cash (XJO) close the SPI went a little looney, up strongly, down again, then straight up - just getting ready for the European open.  I rarely if ever trade that. 

A stand out stock today on the ASX was a company called ***** Smith which is a good sized electronics retailer (TV, computers, phones etc. plus technical gear).  It had some new announcements for the market, and fell 57%!! from 66cents to 20cents at the low, closing at 38cents.  A surprise to many. 


Um - the name of that share has been auto-edited out.  So sorry - but if you're interested you can google it I'm sure.  DSH = ASX code.

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Looking for a more positive day today - ranging with an upwards bias (meaning that it is likely to surge, fade, surge again, then fade - gradually moving higher).  Should steady off highs into 1pm, then consolidate into the PM/close. 

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A strong day on the ASX to put it mildly.  Massive!  The SPI had a range of 116 which is serious.  The ASX closed up 99.60 - just under the "Up 75-100" binary (meaning the price of the binary went to 100 = True/Yes, which is what you want if you bought it) which was 58cents to buy at about 2mins before close (when the ASX was up 94pts).  Risk 58 make 42 - not too bad considering the time and where the market was.  That's all I saw before the market closed (I was busy today so not trading).

Today was simple - ranged higher - surged, faded a little, then surged.  Did that three times, the kicker up to a high during lunch, then fell back and held steady as hinted into 1pm binary expiry.  Then consolidated over the PM, up at the region of the highs.  At 1pm there were not too many binaries left as the up-move was so strong it had left them all in it's dust.  Yet by close there were heaps.  IG were being a bit sneaky, overpricing their binaries in expectation of a stronger finish.  Maybe that was a reflection of the flow of money - either way it paid off for them.  But there were some good opps. if you were willing. 

I am hoping that someone was, and traded my suggestions! (let me know if you did) - It would make me feel like I haven't wasted a day, as I was offline and didn't trade at all!  #Annoying!!  I'd rather make a loss than miss an opportunity like this. 

So if someone did then it would make my day.  You don't get gift days like this very often, and with a heads-up before the market opened it doesn't get much better than that.


Anyway - RBA: boring - as expected.  The market wasn't even thinking of that - widespread buying with good volume.  A lot of oversold,quality companies up 3%+, inc. BHP.  Beginning of the month a likely culprit for the move, especially considering it is Dec.

China was sulking today - staying flat or negative, with some ordinary manufacturing data.  We were going for it, the Dow futures supporting that, but poor old China was left behind. 


Some big days ahead still for the international markets.  The ASX has been overcooked, but that could continue if the global sentiment is positive.  Otherwise there's some room below after today. 

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Just to add to the above - China seems to have woke up, rallying 1.5% in 45mins.  Seems legit right...?

But that move sort of adds a twist to my ramblings above (where I was commenting that China was flat).

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Well, seeing as I did a weekly suggestion I should close out the week.  Again sorry for the lack of posting.  Been distracted still.  And on a day like today it is easy to get burnt. 

The week progressed roughly as expected - a weaker tone ending lower than Monday, though close-ish!  With the big moves Mon and Tues, it was looking like that suggestion was going to be rubbish. 


Today the SPI sold off heavily as you'd expect, but then ranged most of the day off the lows.  It was quite erratic in how it surged/fell - well had quick 2-3pt surges then quiet, or steady for a while, then a 5pt drop quickly, stuff like that. 

The end of day was a textbook Friday.  I bought into the close but was only trading small (not my choice).  IG seemed to be a bit frazzled - not filling binaries fully, and a bit slow to close them out on end-of-day-expiry.  Wonder what that means?

I did notice that they were biased a touch the wrong way!  "Technically" to be expected from the overnight lead (inc. volatility) and daily weakness, yet I didn't and that gave me a cheapish buy into the close.  Still took a reasonable risk. 

And for such a big fall overnight, the daily action was controlled from the get-go (algo's).  A lot of the work was done overnight - that was a 95pt move by the SPI which went to waste while I was sleeping!  The ASX had a clean 110 pt day, with decent volume and general weakness across most majors of down 1-2% on average.


Tonight - any follow through (selling) might set a tone for next week.  Then we're getting close to end of year shenanigans. 

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A good lead should be sold into early but will stabilse and range, likely off lower bound into 1pm.  Then similar over the PM, with selling bought up and then steady range into close. 

I wouldn't be surprised to see the week start with selling which stabilises/bounces by end of week.  ?

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The SPI rallied early on the back of a good US lead from Friday night (local time) - continued higher, meeting the XJO at it's opening level - then constant selling over the day.  I expected/suggested selling, but it was even more than I expected. 

The market kept a negative bias to it's range over lunch (the sharper sell-offs in the AM).  At the 1pm the market was AT the lower bound on 1pm, then off it 1sec later with a decent bounce.  Weird - I was just guessing when I was mentioning that.  Not a trade suggestion, just an observation. 

The PM was just ranging at these lower levels, as all the hard work had been done.  The selling rallied, then faded, and ranged into the close.  I bought the range (binary) - but had to close it out pre-expiry.  Would have been good, as the price was decent.  YET my fill was dodgy - IG ?? 

With such a strong lead, selling into the strength early was THE trade for today.  I guess counter intuitive or counter the lead, but that's what makes it a good trade to nail.   

Decent volume for the day too - we've unwound all of Friday night's move.  Are we setting the trend or ???

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Not too much to go on today - we've done a bit of selling yesterday so the weak lead is nothing new - yet crude oil is.  So some weakness on open, which should steady and then develop into a range.  I would bias it to the negative, though into 1pm more likely a buy.  I know a range is not detailed enough to be helpful to trade - so let it develop.  Wait for an early high, selling, then a rally which fades - that is most likely the range for the session. 

PM will continue ranging I believe - boring.  Might be a spike that fades, probably lean towards the lower edge of the range for a close.  This is where I make it up on the run depending on what I am seeing real-time. 

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A bit of a tricky day today - makes me appreciate why I make an outline (and post it here) pre-trading, as there were moves that would have made you repeatedly question yourself quite often today.

The early selling rallied, fell then rallied again to range until about 12:56pm - then into the 1pm binary -and this can't ? be a coincidence - it went ballistic.  I suggested it would, but didn't trade my own tip (#annoying).  Was fiddling with something else.

The move didn't make sense.  There was strong selling, to the bottom of the range - over lunch/from 12pm say - then bam, 12:56pm up it went.  The XJO went from 5110 to about 5124 - that sort of move in 3 mins is binary heaven.  I was tinkering with CFD's this morning so was flat footed with the binary.  The 5110 ladder was only 48pts - expired at 100 easily. 

Around 12pm we were selling off with China and the Dow futures, virtually correlated until that move T 12:56pm when we went solo.  And even more ridiculous - that move continued with a new high set - at about 1:10pm - ridiculous because China and the Dow fell further  yet we're shooting higher.  Sanity prevailed as we faded back.  I was trying to have lunch so just left it alone! 

Then there was a spike up - about 12pts, which fell back then settled into slow a selling, ranging close, negative bias.  Continued into expiry which I did trade ("Daily down 40-50" binary - only 35.4pts - very nicely priced!)  though with low volume as I had to attend to visitors.  IG were obviously expecting the selling to continue and their binaries were priced for the downside (and not the range).

All on good volume too.  BHP and RIO gave up about 4%, there share price looking a bit sad - oil related stocks weaker too. 

Some good tips today - surprising myself even.  With only 2 views over the trading session (probably half of that me) they went to waste!  They're free for the taking if anyone wants.


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Didn't post a head's up today but traded a few binaries.

First I must give IG credit for helping out with some binary-fill issues.  Very impressed actually.  !


Anyway - the SPI today didn't continue the overnight lead but decided it had fallen enough.  You could tell this early on in how it didn't cut loose but held up - BHP had fallen a lot yesterday so the overnight was basically a non-event.  After the cash settled down the market rallied strongly!  Then sold off and ranged into 1pm.

Strengthened a little then ranged before a short sell-off again and then ranged into the PM close. 

There was quite an interesting correlation between the cash and SPI from today and yesterday! which made me believe the high/lows were set - but the price of the binaries weren't worth me niggling IG (ie. to trade them - 20certain points but left them alone).  It was certain but still.  Yet if I see it again, I'll try and post it live, someone else might want the trade.

Selling today still (selling into the SPI up move), the SPI staying above the night session close, but the Dow was positive all session confirming a more stable price range.  Good volume on the ASX.  Controlled open and closing sessions by the algo's to perfection. 


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Jobs data today at 11:30am Sydney time - might stir things up.


I am expecting early weakness to not be extreme, but still put pressure on any early rallies until a more positive tone persists into 1pm. 

That level should range into close, again with a slight positive bias to any expiry/strategy.  (For there to be a range in the PM, ie. after 1pm, there would have to be some selling then a rally, then steady?  That's moreso what I mean/look for when I say that.)

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Possible buying here 5015 SPI or XJO, if it fails, then it could get messy. 


I've also seen a signal which gives me a strong impression that we'll be staying weaker till close, around here or lower. 

Such good jobs data in the bizarro trading world we live in is a negative it seems. 

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A big day! of layered signals.  Well, signals (my own) that were time dependent.  There seemed to be a few things that had to be done today for some important players.

Day started as suggested - not much selling, a sharp rally that faded.  The selling continued - and then some! after the great jobs data at 11:30.  I guess the rational (perverse) these days is that such good data means a rate cut is unlikely.  The $AUD was up 900 at one stage (settled to avg +600) and the market fell.  The buying kicked in at the level I live-updated.  5015.  From there there was a 12pt rally if you were trading futures.  It came back and fell lower (breaching the level and thereby activating my second live up-date).  However true to "form" (suggested move), it rallied into 1pm first - at 1pm it (XJO) was 5016.40.  I couldn't find a binary to suit.  I had just watched all of the one-touch get taken out down to 5015 (IG's lowest 1pm offered) and was not caught selling one of them.  IG seemed to be pricing their binaries as if the massive fall hadn't occurred - so I just left it.  I expected about 50pts for a 5010, was up around 65-70.  The XJO down at 5010.  So, contrary to their neutral positioning, it seemed IG were expecting a bounce.


After 1pm, the breach of 5015 signal followed through, down about 25 pts!  Then the slow grind higher, sharper than I expected from about 3pm then ranging from 16:00 into expiry - as expected (positive bias to any strategy, ranging into close which I traded small, as suggested).  I didn't expect that surge as my signal would normally suggest 5015 would be revisted but then respected.  It seemed that the buying over-ruled that today.


I also mentioned another signal that was respected, but the amped up markets meant it was not as big a deal as it could have been.  It gave me the impression the market was staying lower than the 11:30 value - which is did, but the size of the rally in the last hour was larger than that signal would often suggest. 


There were so many signs today it was not funny.  The big move often means they are less precise than usual.  First the early surge was a give-away.  Then before the jobs data (like 45mins before say) it was decided we were heading lower (someone big taking an educated guess?) which it did.  The aglo's controlled the decent to perfection too.  All of this is in hindsight, but can help build a picture as you're going along.


A tricky day even if you were in the groove.  Well with binaries -  at 1pm couldn't price a decent binary, and again at the close IG were pricing their binaries with an upward bias which I didn't really want to trade.  Not sure how or if they intentionally do that.  So - a better day for futures, yet I wasn't able to trade them cleanly as I wasn't chained to my computer. 


Another thing too - there were so many ways to lose money today.  As a day trader you are making decisions constantly during the day (especially with binaries where you can make a trade at any point/price of the day).  So the art of trading is firstly to not lose money.  Hard work really. 


All in all a positive day for the miners, bank shares down more strongly (rate sensitive?), but some buying to keep the SPI above 5000.  Dow futures were positive all day +60ish, the $AUD also with positive momentum. 

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Something to watch - one of the signals mentioned often has force over the night session.  At the moment we are seeing that  with the SPI falling strongly despite the Dow futures still up 60.  Tonight has a bit of life in it !

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To tidy up the week - the SPI today was subdued on open despite the lead - then it just went into rocket mode - shot up 50 then gave it all back by 1pm.  Kept steady all PM with tight range.  Very tedious.  A few good binaries - ideal for these situations (not that I traded them).  I was so fortunate on 1 binary - it expired on exactly on the price - and IG still honoured it as per their rules.  Yet I ended the day flat caught by a surprising move on the close (I was borderline but what I expected happened after the expiry!). 

Textbook Friday in a few respects, algo's upped the random, boredom factor this arvo - secret weapon against human traders?


The week was lower as expected/suggested on Monday.  Trying to bounce, but falling back.  The "signals" from yesterday did play out last night too and on the open today. Yet tonight - ?   Leading into next week it will be informative to watch.   

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The start of an interesting week -


Weakness to persist from Friday, but then it should stabilise and head a touch higher into 1pm.  Then weakness will develop into a range, off lows into close. 


I think early weakness for the week should steady then develop into some buying later in the week.   

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Big start to the week for the ASX.  Down 101 pts, with general weakness, miners hit harder 3%ish, and a medium sized bank/large insurer Suncorp hit 10% (down) after updating the market with poorer results due to recent QLD storms etc (insurance claims).

That with the negative lead from Friday night meant a weaker open - the selling stabilised early, then rallied into 1pm as suggested.  A good rally too, larger than I thought.  IG were pricing their binaries too for a rally.  At 12pm there was a 75pt range (50-75) for 54pts - the XJO at -73.  So that was a good risk for the hour.  Went to 100.  A few more ladders were also good - IG had priced them for a rally, wonder how they knew.  Even at 12:58:30 there was a ladder binary between 30 and 50pts (which went to 100).  I left it as I know IG don't like filling orders so close to expiry - they would have filled it, but then have had to do the impossible and hedge it or wear it (I knew they'd wear it) in 1min.  So I was kind...?!

Then there was constant selling over the PM, till it ranged in the last 45mins, retesting the lows a few times.  I was keen to trade my suggestion but IG suddenly shifted their pricing for some 1-touch binaries, making them less appealing.  The ASX did nothing (steady at 4933, low already put in at 4928), yet the binaries were sudddenly 10-15pts more expensive (buying a -105 Tunnel was 36, but became about 50; or selling a 4925 1-Touch was 67 then instantly dropped to about 53).  It was close to expiry, but was enough to annoy me and I just sat it out.  I looked at selling a 4935 ladder but it was 35pts and the XJO was 4933, so I thought a bit cheap.  But the low's held as suggested - there were two signals over the PM to make me believe it was staying near the lows - sorry I couldn't update that - but I was confident it was off the lows (XJO) into close.  A risk of course, but what isn't.  


I shadow-boxed the market today.  Didn't trade my suggestions even though I did the work.  Sorry - I don't think it is legit to comment but not have money in the game.  Some good trades to be had so I missed out myself.  It was distracting and IG has me wondering - they were too accurate today in their pricing.  They are normally OK, but today it seemed like they knew what I knew....? 


Anyway - Dow futures were solid today, about +40.  The Nikkei was weak, down over 400 for a lot of the session (2%).  The closing hour or so of the SPI would normally hint that "they" are expecting a weaker night.  So it will be interesting to see what develops. 


If I don't post regular pre-market suggestions tomorrow/this week, I will try and post some live updates.  If anyone emails me pre-market open I will reply, but I might try just some live posting of trades?  If I have time. 


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Just an aside and because I commented on it - interesting that last night we/the SPI had a solid fall, and a decent bounce.  The early rally was just at the point where I thought my signal had broken down - but it came through and then some with the SPI falling over 80pts!  So - that was decided yesterday after lunch.  If you don't find that remarkable then ? 


Today - whatever - Rally fade, steady.  Range - support being tested - hold??? 

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Another big day, waiting for the D-Day Thurs (local time).  Sorry for the abrupt heads-up this morning.   Funny thing - it was pretty spot on.  Market rallied strongly quickly then 10:30ish faded.  I sold the top there and then - but had to walk away from the trade so took what I was given.  A bit silly as I got such a good price.  But anyway - the fade ranged into 1pm as stated.

Then the market fell to it's support region.  Was ranging there with a negative/sell bias, and looking like it was happy to hold the support.  I bought there and all was looking quite good until the last 10sec!  Binaries this week can be more frustrating than usual.  Plus my signals can be conflicted with such strong moves.  So anyway, copped that on the chin.  I actually reduced my exposure by half but then jumped back in ! 

But as for my suggestion - the support is trying to hold I guess.  A work in progress. 

But for a one-liner tip - it had all the good stuff. 


There was an interesting thing I noticed in the first minute of the day too - 90% of the time it happens - yet today it looked like it was never coming back with a 55pt surge against it.  Yet in the last 10mins of the day (3:48pm) it happened.  Would have been a good trade too. 


There's a buy sentiment creeping in cautiously - waiting for the FED before unleashing?  Commodities/miners seem to have been severely punished and now there's no fun in that anymore, so they might be a buy too.  All setting up for a rally perhaps...!  What if the Fed don't raise rates?


There's been a big jump in the traffic ("views") today/last night too.  Odd.  IG would be pleased?

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The Force Awakens...


Now what...?  After all of that.  The Fed was only half the news of the past 24hours trading too.  And there's more to come.

Today will try and rally off selling pressure - on the open, then across the AM.  Probably a messy range - hard to describe.  Will fade high into 1pm, then look to do the same over the PM.  Sell bias - yet morelike sell then range. 

Expect a controlled day. 

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I'd be more careful now in the PM.  There's buying pressure which may over-ride my fading of rallies.  I'd be looking for a range at least around here.  Conflicting signals - can wait it out or wait for clarity.  Wouldn't have a sell-bias now. 

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For such a big day (so many serious factors moving the market) the original suggestions turned out to be handy.  The market opened lower and hit reverse big time, shot up and kept going.  Attempted to fade rallies, the third attempt from the high was looking good until 12:30 when a final surge took the market near to highs (but lower than highs, as suggested) into 1pm.  That rally kept going for a bit and held up there until about 2pm, when the it faded and ranged.  My update was precautionary - I didn't want anyone losing money so made the update - yet the orignal idea of a range into 4pm and then a fading range / sell bias into the close - was good.  I actually traded that, stuck to my guns, waited, then sold (only small).  IG were interesting with their pricing.  Seemed to be neutral, even anticipating a relax, but then changed with the late surge which gave some good prices to sell. 

For a strong day too everything was neat and tidy by the algos.  Controlled. 


All in all good volume conolidating the past two days gains.  BHP relaxed with crude (RIO a touch higher) - yet for most of the day was almost unch.  Tonight and tomorrow night on the US will be more telling.  The US futures were down 30-40pts for most of our session. 


We're trading MAR 2016 now too - just a reminder. 

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  • 1 month later...

Well, after a day like that I thought it time to crank up the ASX thread again. 


What a stupid day.  Since early morning - the SPI was at 4735 then by 10:40ish up near 4880. 

Then it did some extreme ranging, selling all that off near the close. 

I am a bit embarassed that I haven't made a point in all of that.  It is just not worth the effort if you get stuck in a pullback - unfortunately this move had none! 


So if in all of this you are keeping your account balance steady (or positive) you're doing well.  There would be nothing worse to get on the wrong end of a 70 pt move, then to see it come back by the end of day. 

There was a lot going on today.  In the end, all controlled, showing the muscle of the big player who was on the job.  The things I go by are a bit off in these conditions.  YET at the end of the day I traded what I expected (pre-market-open) ie. flat close despite the Dow, Nikkei selling off strongly.  Took a lot of nerve to hold steady in the face of the strong selling - thankfully the SPI held its ground and then some into the day close.  Impressive.  Stupid all around - but impressive.

Those markets and now China have sold off further - the whiplash from last night could be more severe the more these clowns fiddle. 


IG have been solid in all of this.  Filing binaries today on the close no dramas.  They were slightly undercooked - the trend/momentum on the downside so that was to be expected.  YET the market closed flat - so +1 to the human v the algo's :).


That doesn't make sense as someone programmed the algo's hey....You know what I mean.

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  • 2 weeks later...

Interesting days the past week.  Every day an excuse to wait and see for me.  Friday's BoJ a good example why - the moves after that, and then the followup were strong, nice to trade if you chose to, but seeemingly tentative.  As if the market was hestitating, waiting for the reversal.  Maybe some selling today.


After an early consolidation I'd be watching for two lots of selling pressure, then a bounce say.  It's harder for me to gauge the strength of the different moves these days (they're all just large) - so not much margin for error with the binaries. 


Reporting season kicks off too this month for the ASX, which could make a few individual stocks more volatile than normal.  The overall index will obviously filter that through too. 

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An interesting day of sorts today.  Can't get a feel for it but still traded what I expected/suggested. 

Well it seemed like - Friday night's move in the US was fully factored in and now "boring" - so after some early closing out of positions, we'll use the China/Japanese data to rally for a  better selling price - then sold off.  Bounce so we can do it again with Europe?


The early selling pressure was more subdued than I expected, with a larger bounce into 1pm (China data and Japanese data released near then - any excuse).  After consolidating, 2pm was the larger selling  I suggested (China dragged the Dow lower), down to the day's low, then bouncing. 

I only could trade the bounce near the end of day, and saw some well priced binaries to make it worth it.  I was being a bit too defensive in hindsight. 


Bit of a meandering start to the week, tidying up perhaps before tomorrow's RBA.  While the RBA is not a market mover normally, that's the game that's been played for a while now. 

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RBA on hold today, as expected.  Market sold off after that, and then bounced a bit - nothing surprising. 


The thing that stood out to me is the commentary on IG's login.  Pre the RBA it said something like "RBA minutes likely to give more information on the RBA's easing" (an assumption that there will or should be easing).

The after it says " RBA on hold, However China and inflationary concerns open the way for cuts in Q2."


Does that seem like they are pushing an agenda.... ? 


It stood out to me, and sounds just like the Central Bankers who are staring at the obvious failure of QE globally, yet they think that more will help rather than admit they're wrong!  They'd have been margin called long ago in the real world. 

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Hey Zero,


I just think it's the IG analyst putting his/her own interpetation on it.


No move is the new cut imo.


Haven't moved since May last year and I don't think we will see another cut. I would have written the text differently.


Looking longer term I see the S&P 500 support at 1800 and then 1600 (my more likely target)


Tough start to the year





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Big night overnight for the ASX.  Quite large volume and a 100pt range. 

I expect some stronger selling mid morning then ranging into 1pm.  Attempted rally in the PM will fade then bounce. 


Interesting - read somewhere that last night it seems there is an outright reduction of exposure (to equities) rather than VIX hedging.  Not sure if that is general (all equity markets). 

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Hi JB,


Yeah, probably.  Yet it seems the force of consensus is powerful. 


At least the RBA has room to move before NIRP.  Domestically things are steady here - could get worse, but any talk of an imminent cut is reading into the RBA minutes something not there.  In my opinion. 


Contextually too - maybe a lot of the "analysts" haven't grown up in a normal interest rate environment (ie. above zero) and where growth didn't come from printing money?


Hope your Feb is a good one.  Cheers.

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A good day on the ASX - trading that is.  The market opened weak from the overnight lead, then tried to rally. Made a half-decent attempt but then selling kicked in (I guess mid-morning) and that continued till about 12:30pm, when it ranged into 1pm.  An erratic range - a few jumps here and there which kicked the nearest 1-touch binary at 12:55pm from 70-30-0-47-0. 


Then in the PM there was a feeble attempt to rally - if it was that - then it fell back to the lows, tried again, back to lows, then got kept at lows on the close.  The Dow and Nikkei were/seemed to be the dominant force from the early mid-morning selling till the close.  They dragged the SPI lower and my suggested bounce looked like it was a dud.  Tough trade - I traded it as suggested and IG were great again with the binaries.  Bounce (for the SPI) in the last minutes of the day - yay - which really only meant the cash held its ground.  I traded with that in mind (so selling lower boundaries).


Some good trades all day and with binaries they could be put on safely and creatively.  I went a bit boring but it did the job. 

I'll have to check - but we've almost erased the Japan NIRP rally from last week.  I think everyone expected that somehow...?

Tonight will be interesting. 

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    • In a week when reports were few, DAX was affected if perhaps less so, on 14th May, following USA PPI reports. DAX went down to 18,621 and almost straight back 83 points in one minute. It is very important to have stops and limits in place. My Stop was at 18,741 (my Entry price + 20 points) and Limit at my Third Take Profit Target of 18,650. The trade on 17th May was more straightforward (see charts below)
    • If you've encountered Drift Protocol but couldn't quite comprehend its role in the DeFi realm, this article aims to elucidate the project's mission and its attempts to address major hurdles in the world of decentralized trading and finance. Fundamentally, Drift Protocol is a decentralized exchange (DEX) built on the high-performance Solana blockchain, facilitating transparent, non-custodial trading without any central entities holding custody of your assets. All transactions occur directly peer-to-peer through secure wallet integrations like Phantom, eliminating the necessity to entrust shady centralized exchanges with your hard-earned crypto. However, Drift transcends the boundaries of a conventional DEX. It's an all-encompassing ecosystem encompassing spot trading, perpetuals, borrowing, lending, staking, and liquidity pools – the entire spectrum. Remarkably, they even offer automatic yield on your account holdings, essentially providing free money for your consideration. What truly sets Drift apart is its cutting-edge liquidity solutions. They employ multiple mechanisms such as limit order books, AMMs, and an innovative "Just-In-Time Auction" system that brings in market makers to provide on-demand liquidity for traders. It's akin to having an entire army of liquidity ninjas at your disposal. Their Dynamic AMM is a game-changer as well. Unlike the static liquidity we're accustomed to, it dynamically adjusts and recalibrates the liquidity pools based on real-time trading demand, translating to better capital efficiency and reduced slippage for traders. And let's not overlook the bots! Drift has an integrated bot system that allows you to automate your trades and execute complex strategies far more efficiently than manual execution. With over $340 million in total value locked and nearly $19 billion in traded volume from their 169,000+ users, Drift Protocol is clearly onto something substantial. Moreover, they recently raised $23.5 million in a Series A funding round led by Polychain. Drift Protocol is truly pushing the boundaries of what a DEX can be – aggregating various DeFi services, solving liquidity challenges, and providing traders with professional-grade tools, all while maintaining full decentralization on the Solana blockchain. This project has certainly piqued my interest, and it could be a game-changer for us crypto enthusiasts.
    • Allow me to unveil the revolutionary Lifeform project – a groundbreaking development in the realm of virtual identities and avatars for the web3 world.   At its core lies a mind-bogglingly innovative concept. They've developed a state-of-the-art editor that empowers users to create hyper-realistic 3D virtual human avatars, which can serve as digital identities across the metaverse and web3 applications. Brace yourself for a staggering number – over 10 billion possible combinations of facial features and body details, all powered by the cutting-edge Unreal Engine 5, the very same technology behind blockbuster movies and top-tier video games. Impressive, isn't it? But here's the real kicker – these avatars aren't merely for virtual worlds. With Lifeform's DID solution, you can actually utilize your custom avatar as a login method and verified identity for any decentralized app or metaverse platform. It's an NFT-based digital ID that seamlessly grants you access to the entire web3 ecosystem. Remarkably, as early as March 2023, Lifeform had already become the most widely used dApp on the BNB Chain, boasting over 3 million monthly active users. This rapid adoption is a testament to the virtual identity concept's meteoric rise. On top of that, their AI analyzes user activity across blockchains, providing personalized service recommendations based on your crypto asset management strategies. It's a sleek, all-in-one web3 identity platform like no other. And the surprises don't end there. These avatars aren't limited to the metaverse; you can beam your virtual self into Zoom calls, Google Meet, online conferences – you name it. Your avatar mimics your movements and expressions in real-time, courtesy of their cutting-edge plugin. It's like being a real-life hologram! Lifeform is single-handedly bridging the gap between our physical and digital identities in an incredibly accessible manner. They are undoubtedly the key to onboarding the next billion users into the web3 space. It's a genius concept, if you ask me. You can check out it's token $LIFEFORM on the Bitget exchange as it recently got listed. 
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