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  3. The exit point set represents the bottom of the channel and a clear support level, this is how to maximise profit. There are only three potential exit points for a trend follower. 1. the stop is hit. 2. the trend is broken. 3. the channel is hit. If you wait for the trend to break you will lose around half your profit, Sell High Buy Low in a downtrend. It is also a myth that you only trade with the channel, in a clear zigzag trend you could buy the lower channel because in both trades the entry point offers very low risk. The $1249 level is not an opinion just a projected point on the channel. I have no idea how high or low Gold or Crypto or any other instrument will go, I just follow the charts.
  4. @Foxy, Thank you. Spot on. I totally agree that the trend is 'short' and the current trade is 'short', full stop. That is not up for debate in my opinion. However, I appreciate that lots of other traders on IG Community follow many different trading styles and philosophies and not just trend following. Just because I do does not make it right for everyone else. This thread is relating to potential long gold trades. So to open up a discussion I have merely 'dart chucked' a few trading suggestions. 😂🎯 Whether the darts have hit their intended spots or have gone off the board we shall find out very soon. The problem is that there are hardly if any trend followers who make themselves known on the IG Community so my audience for this thread are not really trend followers. Your expectation for trend followers is right. They would already be short and would only exit on any trend reversal. However, let me ask you a question. If the price of Gold went down to around $1270 levels and held and did not breach below then do you think that level would provide strong support for Gold and enough for a potential trend reversal? I personally do not like setting exit targets. I notice you set $1249.00 as a target but if your short trade got to this level then what? Does your stop loss execute and you are out? If this is the case, what if the price continues going down? If in profit, I tend to switch to a trailing stop. If the Gold price goes anywhere near $1249 then for me that is a very bearish downward move for Gold in my opinion. I would be expecting stocks and crypto to be storming upwards in this same time period with RISK ON trading decisions being made. Thank you very much for your contribution. It is very much appreciated and for the record I agree with your post.
  5. I opened my live account almost a month ago now and its still pending for approval. I've passed the online test so i don't see why it's still pending. I've tried calling the 1800 601 734 number to activate my account but it doesn't seem to work.
  6. If 20 < 50 SMA and the Parabolic agrees, then it might be time to short S&P 500 soon.
  7. Haha, I will belittle myself constantly so that others don't have to.
  8. Yesterday
  9. You're right that there is a lot of available information and a lot of it is free. If I could make money reliably from teaching people about TA, or presenting strategies for clients without committing my own money, I would do that instead of actually placing trades. Seriously. Because I do not believe that any individual without a large existing portfolio or at least £500,000 cash has any possibility of making a living from day trading. And I haven't seen any evidence to the contrary. All of IG's people are employees, even although they are experts in TA and some of them are bound to have a lot of money saved up. To me that just shows that they would never be able to live off TA on their own account.
  10. Not to me ... I see no difference between this kind of instrument and online gambling/casino/poker. But at least the latter have some entertainment value. This kind of stuff is a million miles away from investing and it should be illegal for providers to use terms like 'trade' in relation to them. It should be PLACE YOUR BETS.
  11. Honestly, I have not yet understood the difference between trade a barrier option and buying/selling a future. I don't see any novelty in this product compared to a cfd or a future. I mean, I buy a cfd on the dax and put in a stop loss, that's it! Why should I use a barrier option to do the same thing?
  12. FX seems to be all about USD strength, although I remain on the sidelines to see whether this materialises soon or requires a large retrace to "prime the pump". One thing that is certain is that EUR has been stronger than GBP, which is exactly according to my road map for this pair (see previous post). The retrace is in complex form, lots of whipsaw, but now has raced into the wave C and has shot straight up towards the 2 resistance zones I had previously identified. At present I am still tipping a retrace of the long term Triangle consolidation lower line but first we will see how a retest of the breakout zone. Long term I am tracking GBP strength vs the Euro with massive structural issues within the Eurozone (fiscal and political) as fundamentals backdrop.
  13. PS: forgot to add, net COT data hit triple digit positive (+128k) on Tuesday last, just as the market spiked and dropped, a contrarian dream... Silver continues to deteriorate into negative numbers. This supports my view that Gold will now hammer down faster than Silver in a catch up move as the non coms unwind their Longs pronto.
  14. Gold and Silver just got simpler for me with Friday's price action. Since my previous post both of these markets have dropped hard and Silver in particular has closed below my potential neckline, albeit marginally and at support. Gold still has some way to go to catch up on Silver. I see the likelihood of a rally from here as low given a dearth of appropriate signals. I still believe it is more likely we will see a rally in precious metals when stocks eventually capitulate, although it could begin first in safety assets as Bulls begin to shift Bearish, the first movers so to speak. I remain in favour of Gold turning around the Fib 50% and Silver retesting the long term supporting trend-line. I will continue to track all my indicators to see if I get an across the board buy signal around these points. Although not at all predictive it does seem like markets in general are trending to a resolution, one way or another, around about the end of May...
  15. Turning back to the Nasdaq for a minute I am seeing an interesting development on the 1 hour chart in support of my Daily chart road map (as posted last Tuesday). The end of week price action put in a lower low and dropped on the final hour of live trading, typically a Bearish signal, but in an end of rally stage there is often a lot of whipsaw action as Bulls and Bears slug it out. The potential for an A-B-C retrace within a Flag consolidation is high. If the market breaks down to the lower (speculative) line and turns around the Fib 50% and then rallies up through the short term resistance then the Flag will be confirmed. So what? Well the flag often marks the halfway point in a rally (+/- a bit) and is this is proven to be a Flag then the end of the rally would be, wait for it... 8000!
  16. @TrendFollower I understand why people went long following the double bottom on gold, but that is not following the trend. There is a clear downtrend in gold so I would have expected a trend follower would have gone short as shown in this chart or would be looking for a short entry on any retrace
  17. @786Trader, President Trump and the US have announced that they will lift tariffs for Canada and Mexico. It shows that he is making progress when it comes to looking after No.1 which is the US. Yes you have a good weekend too. 👍
  18. Overview on Trend Following by TrendFollower: I wanted to take this opportunity discuss my thoughts on following 'Trend Following' principles. Trend Following is primarily trading based on price action and where an asset is trending either upwards or downwards. I personally want to try and identify the strongest trending assets and trade with the trend thus increasing the odds and probability in my favour for a successful and profitable trade. So which asset is trending strongly at the moment? In my personal opinion it is Cryptocurrencies. It is the newest asset class but it is also one of the strongest trending asset classes right now. When I started following 'Trend Following' principles, I started using them trading Commodities. From my personal experience, I find that Commodities can provide strong trends both upwards and downwards thus allowing you to go 'Long' and 'Short'. This enables you to trade an asset within Commodities when it is either trending upwards or downwards. So it does not matter if you are in a bull market or bear market for Commodities. I have also found in my time trading Commodities that there is always a trading opportunity present and the stronger trends tend to last a longer time. Trend Following allows you to trade when markets are going up and when they are going down. So it does not matter which direction the markets are trading in. You are going to trade in that same direction whether it be 'Long' or 'Short'. Another important factor that people tend to forget for 'Trend Following' is that its aim to to cut losses quickly. Therefore drawdowns are going to be kept to a minimum on any trade. This can be an important factor when markets are bearish when compared to other strategies. Also you may well be 'Shorting' in a bearish market to increase your returns as these moves seem to be quick and sharp. I am not suggesting that 'Trend Following' is the best strategy or the most effective strategy when it comes to maximising profits. It is a trading style and philosophy that suits my personality and mindset. It is also suits the time I have available to trade. Some of the key points I want to highlight in successful and profitable Trend Following are: Identify the strongest trending assets (it does not matter which asset class it is) The stronger the trend, the greater the profit potential Always trade with the trend and never against the trend (increases odds and probability in your favour) Try and get in as early as possible once trend has been identified Do not exit until there is a clear trend reversal Do not worry about losses and learn to accept and embrace them. They are part of trading. Of course the aim is to minimise losses and to keep them to a minimum so exit early when trade goes against you. There will be other trading strategies that others adopt which may be more successful and profitable than Trend Following. I do not doubt that but that is for others to highlight and bring to the attention of the IG Community. I am merely discussing the trading style and philosophy I have adopted.
  19. @Caseynotes, There are many things that you post that I do not know what the point of them are. A dart player who is skillful will be able to precisely throw a dart on the part of the board they want to. They will be able to more times than not target a specific number or bullseye. How accurate is your 'Dart Chucking' @Caseynotes? I agree it is not a typical or traditional 'Triple Bottom' but if the price bounces off around the $1270 then from the 'daily' chart perspective it does have strong similarities to a triple bottom. However, one must not get worked out about whether it is or not. What is important is how effective your trading decisions are and how much profit you can maximise from a potential trade. If you are more intelligence, wiser, have more experience and know better then please do share a LIVE TRADE with us all on the IG Community.
  20. So all this effort with posting charts and more charts on Bitcoin, is @Caseynotes invested in or trading Bitcoin? Or is it merely a pastime hobby as he has nothing better to do and has far too much spare time on his side? I am trying to understand why spend all this effort and time posting on a specific asset if he has not either acquired Bitcoin physically, invested in Bitcoin or has/is trading Bitcoin? At the very least he is interested in doing any of these going forwards in the near future.
  21. I see @Caseynotes is providing live price updates on Cryptocurrencies. Is there a better service from this thread than checking the live prices on offer from IG's platform? Oh sorry are they screen shots from IG's service! I do wonder where Caseynotes was when the Cryptocurrencies prices were all declining over the past 12 months. What has got him interested now? Oh the prices are going up significantly and Bitcoin is outperforming most other assets. Which Cryptocurrencies is he trading right now? Is he long or short? When I research or spend any time and effort on any asset then it is with a view to potentially trade it otherwise why bother? It may be that he genuinely is interested in the asset class and he could be trading them but does not want to share. Who knows?
  22. Not sure what the point of this is really, @TrendFollower has already told us that "my serious trading (the part I keep to myself - secret) 😉 is Commodities and Cryptocurrencies" . So presumably all of the above is just dart chucking. The real problem though is that it's not even a triple bottom pattern, a triple bottom pattern (like a double bottom) needs a reasonably symmetrical neckline. It was a double bottom but that pattern was triggered and played out, price moved up and just missed target before falling back again, the move up to 1303 completely corrupted the neckline for any triple bottom pattern. So what you are left with is a third attempt to break support on a bearish chart and been given 3 different rather simplistic strategies to go long. Forgetting the direction I would be inclined to gather some stats on any of the above before ever actually trading them let alone encourage others to do so. I've read the above in red and see that it's in a similar vein as the red text in the 'potential short 500' thread. I'm glad to have helped, again.
  23. I have just read this article and I am astonished at the sheer ridiculousness of it. How can a trader (must be classed as a professional) for it to even be possible to make such a loss on German Bonds. If you just look at their charts then they are so bullish and have been for a while. It does not take an intellect to work this out. One of my trading philosophies is to never bet against the trend as odds and probability are not likely to be in your favour. Another famous saying is to never bet against the German Bund! Betting Against Europe's Safest Bonds Costs Trader $22 Million https://www.bloomberg.com/news/articles/2019-05-16/betting-against-europe-s-safest-bonds-costs-trader-22-million
  24. AI THAT SEES LIKE HUMANS DO MAY BE THE FUTURE OF AUTOMATED SEARCH & RESCUE ROBOTS https://www.firstpost.com/tech/science/ai-that-sees-like-humans-do-may-be-the-future-of-automated-search-rescue-robots-6653431.html Potential Investment Idea: There has been a recent drop / pullback / correction in this niche market. Once this drop has played out then there may be an attractive entry point for those who have not got any allocation in their investment portfolios in relation to this. Also for those who are already invested there may be an opportune moment to consider adding or topping up your investments in this area.
  25. Now for Gold my view today (it could change on Monday) is that if Gold 'Triple Bottoms' then there is the potential for a 'Long' Gold trade. If Gold follows Silver on its downward path then this potential would be eliminated. So I will stick my neck out again, be brave and make some potential trading suggestions BEFORE THE EVENT. Potential 'Long' Trade Idea 1: Any trading execution between $1270 - $1275 to go 'Long' seems like a good entry point if it does not break $1270 that is! I never have an exit price or target in mind. Why restrict profits? Hold the position for as long as the trend is in your favour. Only exit once the trend reverses and keep the position as long as you need to. Now the above trading strategy is a simple trading strategy that does not involve anything too complex or complicated and does not involve lines and arrow on charts followed by more lines and arrows! Potential 'Long' Trade Idea 2: Go 'Long' once the 20 DMA is passed on the 'daily'. Set initial stop loss at 200 DMA. Once in profit set 'Trailing Stop' based on your risk strategy. Only exit on any confirmed trend reversal. Potential 'Long' Trade Idea 3: Go 'Long' once the 20, 50 and 100 DMA's (they are quite close together) are crossed. This may increase the odds and probability in your favour but reduce your return as you may miss the price action prior to these being breached. Stop loss strategy the same as above. Potential 'Short' Trade Idea 4: Now for those of you who are not already 'Short' on Gold then you may wish to initiate a 'Short' trade once the 200 DMA is breached on the 'daily' chart on the downside. You may wish to consider setting a stop loss around the 100 DMA point but switching to a 'Trailing Stop' once in profit. This trade is unlikely but you never know! I have deliberately kept the trading ideas and execution very simple and tried not to make it complex at all. For those slightly more experienced traders you would set your stop losses based on your risk management strategy. You would also have a capital allocation strategy. So for example some of you would not stake more than 1% of your capital on any one trade. Your stop loss would say a have a maximum tolerance rate of between 1% - 5%. This is just an example and many traders will have different criteria. Now the three potential 'Long' trading ideas and the potential 'Short' trading idea I have given are just potential ideas. I am not suggesting they are right or are the best trading ideas. I am just trying to encourage others on the IG Community to actually discuss real trades and share real trading ideas. The easiest thing to do is to submit a post after post, start a new thread after thread and post links and charts after links and charts. The real value in the IG Community is for like minded traders to share trading ideas. What could be the best entry point. How would one identify that entry point. Why should one go 'Long' over 'Short', etc. I am not worried or scared if the four ideas above work or do not work. What is important is to start the process of improving the IG Community and offering value to any readers and posters alike. That value could lead to improved decision making in executing potential trades or even considering trades that one simply did not think of. Do not let asset class be a barrier. All asset classes will have potential trading opportunities both long and short. It does not matter if it is a commodity, cryptocurrencies, stock, indices, etc.
  26. @dmedin, Yes hindsight is a wonderful thing. 😁 You seem like someone who is willing to put the time and effort required to gain a better understanding of trading the markets. Trading is difficult. Consistently making profits year after year is more difficult and making large significant profits year after year is even more challenging. There is a lack of trading ideas and potential trades being posted as people are too scared in case they are wrong and others belittle them. Due to this fear there is hardly any trading suggestions being made for the future. This is from the 'so called' people who think they are mostly right and know best (or better than others). Where are the potential trading suggestions or potential trading possibilities from them? Where are the potential trade ideas or trade considerations from them?
  27. Lots of blue this morning, BTC up 308 points.
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