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Overnight Indices, Oil and Gold up. Bonds down. Again.

UK and France bank holiday.

US NFP today at 1:30 pm minus 22 million expected. Turn the economy back on you utter morons.

JPY still down, AUD still up.

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Visualisation in Excel of current market situation: Built using https://www.excelpricefeed.com  

"...an inverting yield curve and weak June manufacturing data across the globe have divided analysts on whether or not a pullback is due. DWS forecasts a “moderate cooling of economic activity”, but J

Overnight remains risk off. Indices and Oil down. Gold and Bonds up with Bonds just pulling back. Today not much on the calendar so it's all about the virus. 

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7 hours ago, Caseynotes said:

US NFP today at 1:30 pm minus 22 million expected. Turn the economy back on you utter morons.

US NFP today at 1:30 pm minus 22 million expected. Turn the economy back on you utter morons.

Edited by Caseynotes
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Hong Kong seemed the main cause yesterday evening with worries China was just going to take over completely and abandon the one country 2 system approach  and the US would be forces to respond in some way, but the worry seemed to dissipate over time.

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31 minutes ago, Caseynotes said:

before rising again quite far and suddenly you mean;

That violent up-and-down pattern often precedes a drop, look at Dax now

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A sudden up and down is often the result of news. In a bull market traders will usually check where support is on the London market open before moving on. Standing back and looking at the H4 chart it really just looks like a normal pullback so I wouldn't be as quick to flip or you end up flipping every 5 minutes.

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5 minutes ago, Caseynotes said:

looking at the H4 chart it really just looks like a normal pullback so I wouldn't be as quick to flip or you end up flipping every 5 minutes.

Yes, and generally 5 - 10 - 15 minutes isn't good for me

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1 minute ago, dmedin said:

Yes, and generally 5 - 10 - 15 minutes isn't good for me

the chart above is H4 and the daily pivot (magenta DP) is a good line in the sand for determining whether it's currently a bull or bear market, keep an eye on your MAs and if they are sloping and 'in order' (8>20>50) i might go with the counter flow but with a view to getting out early but generally I wouldn't chase price up and down but rather wait for price to move from one level to the next in line with the prevailing trend. 

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    • Hi THT, I assume you have this vertical time grid plotted out in advance and you're waiting to see if the market obeys it.  Is this time cycle purely derived from observation?  So following the Covid crash you could observe 3 lows and plot 3 vertical lines and see that theres roughly an equal distance between them. You could then plot out more further in time with the same interval. That seems very simplistic but perhaps that is not how you come about it. When I say it looks simplistic I realise there is a lot more to a strategy than this observation to make it work. 
    • I don’t think I’ve ever come across an accurate post like this.
    • but if bitcoin is really 24 hours, does it open even on the weekends?
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