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Very inaccurate Quote prices on the Volatility Index

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Guest Geremy,
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10/06/21 10:53
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By tradinglounge · Posted
Johnson & Johnson, Elliott Wave Technical Analysis Johnson & Johnson, (JNJ:NYSE): 4h Chart 6 December 23 JNJ Stock Market Analysis: We changed the count to a bullish scenario. At this stage we are looking for upside in either a wave 3 or C that seems to be unfolding as expected. Looking for 5 waves within wave 3/C. JNJ Elliott Wave Count: Wave (iii) of {iii}. JNJ Technical Indicators: Above all averages. JNJ Trading Strategy: Looking for longs into wave 3. TradingLounge Analyst: Alessio Barretta Johnson & Johnson, JNJ: 1-hour Chart 6 December 23 Johnson & Johnson, Elliott Wave Technical Analysis JNJ Stock Market Analysis: Looking for a sideways consolidation into wave (iv) to then continue higher as we seem to be finding support on 158$. Upside target for wave {iii} stands at 161.5 as we have 2.618 of {iii} vs. {i}. JNJ Elliott Wave count: Wave (iv) of {iii} JNJ Technical Indicators: Above all averages. JNJ Trading Strategy: Looking for longs into wave (v). -
By tradinglounge · Posted
EURUSD Elliott Wave Analysis Trading Lounge Day Chart, 6 December 23 Euro/U.S.Dollar(EURUSD) Day Chart EURUSD Elliott Wave Technical Analysis Function: Counter Trend Mode: impulsive as A Structure:blue wave 2 of A Position: Y of wave 2/B Direction Next lower Degrees: blue wave 3 of A Details:After blue wave 1 now blue wave 2 as a correction started . Wave Cancel invalid level: 1.10192 The "EURUSD Elliott Wave Analysis Trading Lounge Day Chart" for 6 December 23, delves into the Euro/U.S. Dollar (EURUSD) pair within a daily timeframe, employing Elliott Wave analysis to provide traders with a comprehensive view of market dynamics. Identified as a "Counter Trend" analysis, the focus is on potential reversals against the prevailing market trend. This is crucial for traders aiming to capitalize on corrective movements or trend changes. The analysis characterizes the current market "Mode" as "impulsive as A," signifying that the observed price action is impulsive and falls within the context of an A-wave in the Elliott Wave structure. Impulsive movements are typically strong and directional, often marking the initiation of a new trend. The primary "Structure" is labeled as "blue wave 2 of A," detailing the current phase within the Elliott Wave framework. Understanding the wave structure is fundamental for traders to gauge the market's position in the broader cycle. The specified "Position" is denoted as "Y of wave 2/B," indicating the current wave count within the larger degree of correction. This level of detail assists traders in comprehending the intricacies of the ongoing correction. The directional guidance for "Next Lower Degrees" is projected as "blue wave 3 of A," suggesting an anticipation of the next impulsive wave within the overarching correction. This information is valuable for traders seeking alignment with the expected market direction. In terms of "Details," the analysis notes that "After blue wave 1, now blue wave 2 as a correction started." This informs traders that the market is currently undergoing a corrective phase following the completion of the first impulsive wave. The "Wave Cancel invalid level" is identified as "1.10192," serving as a critical threshold. If the market reaches this level, it would invalidate the current wave count, prompting a reconsideration of the prevailing market conditions. To summarize, the EURUSD Elliott Wave Analysis for the day chart on 6 December 23, presents a counter-trend impulsive movement labeled as "wave 2 of A." The analysis provides insights into the wave structure, position, expected next wave, and a crucial level for potential wave cancellation.
Question
Guest Geremy
Hi Guys,
First post here, sorry if this is all just incorrect, but before I lodge a proper support ticket I just wanted to see if anyone from IG or the community could explain this to me.
I went long on the Volatility index 2 days ago, as it was at a low price and I was anticipating losses on the S&P 500.
When I was writing my trading plan I could not find anywhere on the IG website where is categorically stated that this Index was the VIX. So I rang IG to confirm and they emailed me in writing that it was "The VIX".
When I bought the price withing the next day I was down about $1000 USD which did not match my calculations.
I then noticed the difference in price between the IG product and other charts and index price data.
I rang and chatted to IG enquiring why the prices were different.
After discussing with someone on the phone we came to the conclusion it was because the data from IG is "Live" and what I was looking at was delayed by 15min. Ok awesome, problem solved. Use IG data.
Then yesterday I went Long again for similar money at an even lower price.
I have watched in anticipation as the S&P has fallen over 1% today and was expecting my Position to be just over 10k.
When it only breached 5k at 15 points I was very confused.
What I have now discovered is that the pricing mismatch on the live quote, while different by 15 minutes from the index price data available on the internet, was grossly different from the underlying index price.
I have gone back and done a comparison of the prices when I purchased and the prices as they are currently.
IG's price is currently UNDER-QUOTING the index price by approx 1%. Not fantastic in my opinion, but explainable by different data sources and aggregation points.
IG's price when I bought the stocks, were OVER-QUOTING by 14.8% and 19.8% respectively.
I have attached screenshots of all the pricing and my calculations. I'm simply not sure how I have missed out on my first large windfall with IG.
Sorry the calculations are a screenshot, I could not upload an Excel File.
Thanks
Geremy
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