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By tradinglounge · Posted
Elliott Wave Analysis TradingLounge Daily Chart ChainLink/ U.S. dollar(LINKUSD) LINKUSD Elliott Wave Technical Analysis Function: Counter Trend Mode: Corrective Structure: Zigzag Position: Wave C Direction Next higher Degrees: Wave (I) of Impulse Wave Cancel invalid Level: 8.498 Details: the corrective of Wave (II) is equal to 61.8% of Wave (I) at 8.702 Log scale chart ChainLink/ U.S. dollar(LINKUSD)Trading Strategy: The second wave correction is likely to go down to test the 10.585 level before rising again in the third wave. Therefore, the overall picture is a short-term pullback to continue rising. Wait for the correction to complete to rejoin the trend. ChainLink/ U.S. dollar(LINKUSD)Technical Indicators: The price is above the MA200 indicating a Downtrend, The Wave Oscillator is a Bearish Momentum. Elliott Wave Analysis TradingLounge H4 Chart ChainLink/ U.S. dollar(LINKUSD) LINKUSD Elliott Wave Technical Analysis Function: Follow Trend Mode: Motive Structure: Impulse Position: Wave 5 Direction Next higher Degrees: Wave ((C)) of Zigzag Wave Cancel invalid Level: 81.238 Details: The Five-Wave Decline of Wave ((C)) trend to test 11.582 Level ChainLink/ U.S. dollar(LINKUSD)Trading Strategy: The second wave correction is likely to go down to test the 10.585 level before rising again in the third wave. Therefore, the overall picture is a short-term pullback to continue rising. Wait for the correction to complete to rejoin the trend. ChainLink/ U.S. dollar(LINKUSD)Technical Indicators: The price is above the MA200 indicating a Downtrend, The Wave Oscillator is a Bearish Momentum. Technical Analyst : Kittiampon Somboonsod Source : Tradinglounge.com get trial here! -
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Question
psycho
Hello,
I am thinking of making my GBP spread betting account multi currency (initially adding USD) because I feel that the charges for trading instruments priced in USD will be cheaper from a USD account than a GBP account. Is this correct? For example if I wanted to sell USD and buy GBP, would the spread bet be cheaper in a USD account or a GBP account? What about for commodities and US shares?
Secondly, if I open a share dealing account for US shares (for long term stock positions), would it be cheaper to fund this in USD so there are no conversion fees? What would the commission rate be? Will it be £8 converted to USD?
Will I be able to move money between my USD and GBP spread betting accounts paying the 0.3% conversion fee?
Will my USD accounts be considered as assets for trades in my GBP accounts so I don't have to convert for margins or is this too complicated?
Finally, I assume the spread betting account in USD will be the same as GBP from a tax point of view (i.e. no tax). If I open the share dealing account in USD, what is the maximum amount of dividends I can earn before my tax return really start to get complicated (therefore necessitating engaging an accountant the costs of which will need to be taken into account)?
If there happens to be a tabular comparison that would be just great!
Many thanks in advance.
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