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10/06/21 10:53
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After rallying on Monday, the Nikkei 225 led the Asian session lower overnight, reversing hopes that losses for Japan had been halted. Rising yields across the globe have driven losses in stocks, though US stocks struggled into positive territory at the close yesterday as some of the selling pressure of the past week eased. However, the theme of higher yields is likely to continue to keep pressuring stocks, resulting in more losses in what is often a difficult period of the year for equities anyway. US lawmakers continue efforts to try and find a short-term funding solution that will avoid a government shutdown. Futures point to a weaker open for Europe and the US, with little heavyweight macro data to detract from the focus on higher yields. -
By tradinglounge · Posted
EURUSD Elliott Wave Analysis Trading Lounge Day Chart, 26 September 23 Euro/U.S.Dollar(EURUSD) Day Chart EURUSD Elliott Wave Technical Analysis Function: Counter Trend Mode: impulsive Structure: black wave 3 of A Position: Wave A Direction Next Higher Degrees: 4 of A Details: blue wave 2 of black wave 3 looking completed at 1.07367,now blue wave 3 of black wave 3 in play . Wave Cancel invalid level: 1.07367 The EUR/USD Elliott Wave Analysis on 26 September 23, is conducted on the daily chart of the Euro/U.S. Dollar (EUR/USD) currency pair. The analysis utilizes Elliott Wave theory to provide insights into potential market trends and movements. The Function identified in this analysis is "Counter Trend," indicating a focus on identifying and interpreting market movements that go against the prevailing trend. In this context, "counter trend" implies that the analysis is geared toward potential reversals or corrections within the market. The Mode is described as "impulsive," which suggests an anticipation of strong and directional price movement. In this case, the focus is on an impulsive wave sequence within the market, implying the potential for substantial price shifts. The Market Structure is outlined as "black wave 3 of A." This specifies that the analysis is centered on the development of the third wave within the broader wave structure, emphasizing its significance in the Elliott Wave sequence. The Position denotes that the analysis is concentrated on "Wave A," suggesting that the entire Wave A structure is of interest in the analysis. The Direction Next Higher Degrees highlights "4 of A," indicating that the analysis is attentive to the development of the fourth sub-wave within Wave A and its potential impact on the market. In the Details section, it is mentioned that "blue wave 2" of "black wave 3" is considered completed at the level of 1.07367. The market is now in the phase of "blue wave 3 of black wave 3." The "Wave Cancel invalid level" is specified as 1.07367, serving as a reference point for traders. In summary, the EUR/USD Elliott Wave Analysis on 26 September 23, suggests that the market is currently in a counter-trend phase with an impulsive movement in progress. The focus is on the development of "blue wave 3 of black wave 3" within the larger Wave A structure. Traders are advised to monitor this sub-wave for potential trading opportunities, while the specified invalid level provides a reference for managing risk within their trading strategies. Technical Analyst : Malik Awais Source : Tradinglounge.com get trial here! -
By tradinglounge · Posted
EURUSD Elliott Wave Analysis Trading Lounge 4 Hour Chart, 26 September 23 Euro/U.S.Dollar(EURUSD) 4 Hour Chart EURUSD Elliott Wave Technical Analysis Function: Counter Trend Mode: impulsive Structure: blue wave 3 of 3 Position: black wave 3 Direction Next lower Degrees: blue wave 3 of black wave 3 started Details: blue wave 2 looking completed at 1.07367,now blue wave 3 in play . Wave Cancel invalid level: 1.07367 The EUR/USD Elliott Wave Analysis on 26 September 23, focuses on the 4-hour chart of the Euro/U.S. Dollar (EUR/USD) currency pair. Employing Elliott Wave theory, the analysis aims to provide insights into potential market trends and movements. The identified Function in this analysis is "Counter Trend," indicating a focus on identifying and interpreting market movements that are contrary to the prevailing trend. In this context, "counter trend" suggests the analysis is aimed at potential reversals or corrections within the market. The Mode is described as "impulsive," which suggests that a strong and directional price movement is expected. In this case, the focus is on an impulsive wave sequence within the market. The Market Structure is outlined as "blue wave 3 of 3." This indicates that the analysis is centered on the development of the third wave within the third larger wave structure, emphasizing its significance within the Elliott Wave sequence. The Position specifies that the analysis is focused on "black wave 3." This suggests that the third wave within the broader wave structure is a key area of interest in the analysis. The Direction Next Lower Degrees points to the initiation of "blue wave 3 of black wave 3." This indicates that the analysis is attentive to the development of the third sub-wave within the third wave, highlighting its potential impact on the market. In the Details section, it is noted that "blue wave 2" is deemed to be completed at 1.07367, and the market is now in the phase of "blue wave 3." The "Wave Cancel invalid level" is specified as 1.07367, providing a reference point for traders. In summary, the EUR/USD Elliott Wave Analysis on 26 September 23, suggests that the market is in a counter-trend phase, with a strong impulsive movement in progress, specifically focusing on the development of "blue wave 3 of 3" within the third wave structure. Traders are advised to monitor this sub-wave for potential trading opportunities, keeping in mind the specified invalid level as a reference for risk management. Technical Analyst : Malik Awais Source : Tradinglounge.com get trial here!
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Question
Guest Sorin
I think that there is a problem with your new platform, sometimes I can have the SL of 5 pips away, while sometimes the minimum SL available is 165 pips away.
I spoke with a guy from your support and he was saying: "I have with one of our dealers and Stop loss distance depends on the market conditions".
As I told him I didn't talk about the spread which ok, sometimes can be 2-3 or even 5 pips, np with that.
The problem is that the minimum SL available is of 165 pips!!! Your response was :
"As per our dealing desk, there is no error on our platform. We raised our distances during high volatility."
and:
"As mentioned before, we change the stop loss distance as per the market volatility. Whenever that happens, please wait and check after 15-20 mins, it should be back to normal.
There is no bug."
In conclusion, I will open a position and I have to use the SL of 165 pips and if I have to go away for half an hour I have to pray that it wouldn't move against me 165 pips because the SL of minimum 5 pip which is advertised on your site doesn't work. That's great.
It did happen so far on usd/jpy and eur/usd pairs few times in normal trading conditions - not during the news, and trading is not possible this way. And it did happen on both accounts - the cfd and the spread betting account. I can send you photos if you want.
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