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  1. 4 points
    they never really advertise it but think its worth noting
  2. 3 points
    Apple warns may miss quarterly guidance estimates due to virus impact starts a new pullback in the indices.
  3. 3 points
    Before market open - check current risk on or risk off ( on = indices and oil up, gold and bonds down. off = opposite ) expect continuation of current until new news affects the charts. - note times of up coming news events that day that could affect the markets if outside expectations. During I used to have squawk box years ago but found it a distraction and only told me earlier why the market had jumped or reversed, watching the charts is instant and someone on twitter will tell me why about 30 seconds later anyway (they still have a squawk box). Also on twitter is info that may come into play in the near future to keep an eye on. the news feed on the IG web based platform is good (IG pay Reuters well for it) but the IG mt4 news feed is not the same so I don't use. The more you get used to chart reading the easier it becomes but it does take time.
  4. 3 points
    I don't use anything else - have looked at other news sources and they don't seem worth the money 🙂 I sometimes look at Youtube videos from DailyFX, IG, Bloomberg and anything else that looks interesting. FT.com is said to be indispensable, but I'd rather just look at the charts!
  5. 3 points
    Can't add to the recently restarted US OIL thread now so start anew again. "Oil has been showing some signs of "hope" over past 24 hours. Given the fact oil and Chinese CSI 300 move in tandem, maybe the oil bounce could turn violent to the upside."
  6. 3 points
    As I've tried to point out often it looks like you were lured into thinking you could go into full time trading without a viable plan or tested strategy and learn on the fly. That may be because you were listening to people who are constantly giving out professional sounding advise but even after years of trying can't themselves make a living trading but instead rely on other income. On forums and on SM these ego driven guys are by far the majority, be careful who's advice you follow. Not necessarily a question of quitting but more a case of needing to rethink your whole approach.
  7. 3 points
    The new share dealing platform is now live. Let me know what you think. You can find the help video by following the link below: https://www.ig.com/uk/help-and-support/investments/share-dealing-and-isas/how-do-i-use-the-share-dealing-platform
  8. 3 points
    Dow still has higher to go from here. I cut my losses drastically and hedging the remainder. Can't be too attached with wanting to be right 😄. Need to live longer to fight more battles to win the war. I expected Dow 30000+ later this year after a correction first but seems much sooner now which I am caught by surprise. The retracement will come when more trader's money like myself is taken first. @dmedin - trading against me may be a good strategy going forward 😂
  9. 3 points
    The 100 ema is quite a long drop on the intraday, also consider having 2 MAs because when they spread apart or converge towards each other is useful information but whatever, the actual candles need to be the actual trigger. On the HA chart look for the Doji to stand by and then next bar colour to go.
  10. 3 points
    fair go, the failure to break through the blue rectangle was crucial for further downside. Now looking for resistance (sellers to step back in) and the most likely area is just before the red 29400 defending their initial stops.
  11. 3 points
    So TSLA up over 20% today. I've just updated one of my spreadsheets, interesting to see how the "upstart" manufacturer is getting close to Toyota to gain the number 1 spot by market cap!
  12. 3 points
    Don't know anything about Wheat @cheviot and can't get sufficient years of data on IG to get a purely bearing, however the chart from 2000ish they do have looks very similar to some agri crops I do track and trade (NY Sugar No.11 and Aribica Coffee). All of these soft commodities seem to have topped out during the commodity super-cycle top in 2011ish and since then have been in decline, whereas some of the harder commodities and precious metals have rallied harder, and in the case of PMs the general market bias is definitely bullish (not yet convinced!). In my Coffee and Sugar posts I have discussed the case for an impending massive cyclical bull market on the basis that we have been at or near the long term range bottom, although there was still room below. These markets took off, especially coffee BUT now it looks to me like Coffee is reversing and is more likely to put in lower lows on the long term trend before that Bull can take hold. I had reversed and shorted Coffee near the top of the recent rally but thought it was a bullish retrace rather than a reversal. Sugar is not there yet, although I am tactically Short now and waiting to see how it plays out. My concern is that Sugar could follow all the rest of the Softs (And indeed hards as well, currently) lower. Part of my thesis for a bull market in the making was technical and part fundamentals (As always). The Fundamentals part was that in a trading range market, once you reach the bottom (or top) the probability is massively in favour of a reversal into the opposite trend. Timing is hard as these markets can stay hugging the extremes for a long time. There are signs that in both Coffee and Sugar farmers are leaving the market (supply issue building). However, as @TrendFollowermentioned a while ago I believe, there was is a large stockpile of coffee about to be released on the market in Brazil. Sugar definitely has a supply problem though it seems. Another part was the idea doing the rounds of hyper inflation, driven by central banks getting what they have been seeking but not being able to control it. This is being called the "reflation trade" and unsurprisingly not everyone agrees with the hypothesis... The third factor was a falling USD, which ought to be good for commodities in theory (doesn't trump supply demand drivers though) but currently it is looking increasingly likely we will see DX at about 10000 (currently 9760ish). So all in all it seems that another period of commodity bearishness is in play (check also the thread on HG Copper). I remain convinced that a commodity bull market is going to happen and that softs will be the place to be when it does as I feel that industrial commodities will get hit by a recession (we may get that inflation trade first though, especially on Oil, which may then trigger the stocks crash and reflect the recessionary forces). All of these markets are related but food and water security is the single biggest issue the planet faces long term, far out weighing climate change (the climate gang are talking about the wrong things!). If the population is set to grow to somewhere between 9-13 billion by 2100 where is all the food and water going to come from? That's long term of course but if prices are depressed and farmers leave the industry then supply shortages at low prices are inevitable. Cue prices increases, and probably in a dramatic fashion. The question remains, when? I thought we might be there but this months price performance on Coffee makes me thing we are not yet.
  13. 2 points
    Very much a Friday profit take and get out just in case whatever over the weekend. If already down and seeing there are good support levels not too far below I would probably be inclined to hang on as the mass exit was planned and those wanting out for the weekend have likely already done so. Might be worth taking out a short for a hedge for over the weekend just in case though.
  14. 2 points
    I woke up to the same #%&£. Placed a small hedge last night before sleep to counter my big loss and found a token of goodwill. Doesn't help much. Let's see if the uptrend is in play today. I have noticed my recent calls have been correct a day ahead of time which is total nightmare. Could be put to good use though if true...
  15. 2 points
    Zerohedge suggesting a large European fund initiated the sell off yesterday on the Frankfurt close which sparked US continuation. Ftse suffering and is down into clear space while Dax looking to hold at 13639 and S&P at 3348 though may test yesterday's low at 3336. Dow has a prior support level just below at 28892. Monthly flash PMIs today which is the early call and so having the most impact and may well be affected by the virus concerns. Could be a very interesting day 🙂
  16. 2 points
    The S&P made a new all time high today before pulling back and the US market hasn't even opened yet.
  17. 2 points
    Maybe i could do a separate trade idea? Pick a market and it may explain it better?
  18. 2 points
    Just to point out that MAs don't recalculate after the candle has closed. The moving average is calculated by adding a stock's prices over a certain and set period and dividing the sum by the total number of periods so will only change period by period 👇
  19. 2 points
    @dmedin, One very important point to remember when looking at 'Moving Averages' in hindsight like the chart above is that at the start of the blue area so bottom left corner at that point the moving average curves would be looking different as they are constantly changing based on historical prices. Those curves are what the moving averages curves look like now but they may not have been looking like that at the point I am referring to. Moving averages evolve as days go by. Their curves change as the days go by. What you want to do is show what the moving averages curves looked like on the chart at the start of bottom left of the blue area. Don't get me wrong I use moving averages as part of my trading strategy. So I am certainly not against it but you must appreciate that you cannot merely use moving averages in isolation. They must be used with other signals/indicators before you make your trading decisions. Using just the method you suggest would be very high risk and would require a lot of luck and hope which are two words serious traders want to avoid. There is no place for luck and hope in trading successfully and profitably on a consistent basis over a long period of time. Also the trader must be an exceptional stock picker or their stock selection for trading must be exemplary!
  20. 2 points
    Answering my own question here. The answer is yes. Now I have opened my "Share Dealing ISA" account and have started using both the mobile app and the web platform. Thanks!
  21. 2 points
    Peter Brandt @PeterLBrandt "The drumbeat of U.S. equity perma-bears has been a constant in my 45 years as a trader"
  22. 2 points
    Yes all the dip buyers make it hard shorting Did not trade today because i suck at trading😉 But maybe something like this for those that can? 2 short scalp 20-30 points or so? If i had placed a trade i had probably **** it up😄
  23. 2 points
    That picture is open to some serious level of innuendo
  24. 2 points
    Reuters is always very amusing when it begins the day with an article saying 'oil prices bounce on rising demand', and by lunchtime it's turned into 'oil prices sink on growth fears'.
  25. 2 points
    5 th Wave triangle DOW DAX All showing the same symptoms....Push/pull factors. Hi CHOP rate asthe markets turn. 5 th Wave triangle always very volatile.....But they are a turn signal...BEWARE There s bears in them th'ar woods !
  26. 2 points
    S&P, Dow and Dax just backing off their respective all time highs, Ftse remains the laggard. US CPI data today not expecting much change to the low figures of recent years. What ever happened to Paul Krugman and all the other Nobel prize winning economists who predicted imminent financial meltdown (especially if Trump got in) 5 -6 years ago, oh well.
  27. 2 points
    Price just hit the Oct '19 low ( trying to bounce ) - nothing below now to that GAP
  28. 2 points
    Fattening the goose for the chop / drop.
  29. 2 points
    Maybe PRT V11 will have more data? If we are still alive by then😉
  30. 2 points
    you could pay a subscription there are many news sources from a basic £50 a month squawk box up to Bloomberg's top offering which is a computer read 250K a month or quarter (can't remember which) that plugs straight into your robot and starts placing your trades before the bloke on the squawk box has even opened his mouth. 👀 Unless you have the latter you will never catch the spike, so wait and look for follow through instead.
  31. 2 points
    Its simple😉 Always buy bad news, bad news for the economy = good news for the stock market Bad news = more free money from the central banksters Take this last thing the coronavirus could mean at least 10% rally in stocks? and when they find a cure the markets will open with a gap up and rise 5% more rinse and repeat🤑 https://www.youtube.com/watch?v=GD8k1CnVeAQ&t=64s
  32. 2 points
    For a minute I thought you were talking about my time with my ex 😂. Seriously consider trading much shorter time frame if TA isn't helping you for longer term trades. I got in Nasdaq yesterday and was going to hold a few days but I got out just now. Holding even for a few days might instill a little doubt especially if you are using a lot of margin. A person cannot expect a different result if they keep doing the same thing over and over.
  33. 2 points
    Oh dear the top pickers are out again, these markets don't have a top, in 50 years and price at 50,000 still won't be the top. They been calling the top for the last 100 years. To think if price is high on the screen then it must turn and head for the bottom is well , ... just no. You'd have to be a dooms dayer who's willing to miss out on every run up for years on end, oh wait, they do. There are occasional corrections for sure but why would anyone sit on their hands for months waiting for those. Longer time frame traders join trends and move their stop, if approp, at the end of each day, sorted, they don't stay out of trends expecting a reversal each day, again just no.
  34. 2 points
    Dax and Dow not finding new buyers this morning so now looking lower. M5 charts;
  35. 2 points
    and those down the pub with their mates who want to make it known they're calling their broker... #gekko
  36. 2 points
    Stock price vs IG Clients % long positions over last few months. As the stock started moving up less clients went long, with a big drop last week as the stock rose even more. And the last few days as the stock has popped higher clients are now shifting back into long positions. At the moment it's up over 3% in the pre-market. Data provided by Excel Price Feed
  37. 2 points
    Hi, log into IG and see the Academy site. https://www.ig.com/uk/learn-to-trade/ig-academy
  38. 2 points
    Hi folks, apologies if I've missed any etequette. I'm new in here, and fairly new to trading. I'm after some advice I was going well. I managed to increase the trading capital by about 50% in 6 weeks, by using a Trading the Gap strategy (plus 1 or 2 major economic announcements such as an interest rate or election result). Basically, the strategy went, that I'd wait for the opening bell on the NYSE and then simply trade, on a 5 minute chart in the direction to close the gap, provided that the gap was within 50 points. I started with a small amount and gradually pushed until I was closing the gap with as much as 35 contracts per pip sometimes. I looked to be in and out of the trade within 10 minutes. It seemed to work most of the time and when the trade went South, I'd pull the plug quickly. Then, it just seemed to stop working, and in the last 10 weeks, Ive been on a continuous loosing streak and have been dying with death by 1,000 cuts. I'm still 22% up on my initial deposit. I decided to backtest the strategy over the last 2 months on the Dow (Dec and Jan) and the gap closed very few times and where it did close, a 1:1 stop would have been taken out first. I've stopped with that strategy for now, since it doesn't seem to be working but would love someone who has experience of trading a Gap strategy to give me some suggestions of what might have changed. Like I said,I'm fairly inexperienced.
  39. 2 points
    A cup and handle pattern might be sketched on H4 by the price. See my newest chart on eurusd. ☕ ☕ ☕ ☕ ☕
  40. 2 points
    If the Nasdaq breaks and holds below 8900 there will be a lot more gains given up, maybe even half of 2019... Nasdaq traders are the only ones still holding their index above the support levels. SP500 broke below and came back up but everything else is down. The Nasdaq buy the dips boys are on attempt no.3 to hold the daily channel line. Should be interesting as third times a charm... NOT looking good for the bulls just now... Come on ye Beaaaaaaaaaaaaaaaaaarrrrrrrrrrrrrrrrrr!
  41. 2 points
    I just wanted to add my tuppence on this point, such patterns have far more significance if they form over a period of weeks or months. On hourly charts they are more like mirages.
  42. 2 points
    Could be. I only look at H&S on Daily/Weekly charts at the end of major trends but that would fit my EWT lead scenario for a bear phase in GBPUSD. Also note other USD pairs are holding back so USD strength still rules. Fib 62% (13,100) could be key but GBP is spiky so could spike up through and fall back. Hard to trade, I will wait for a confirmed turn. A break of the previous high (13,175) would not negate the longer term bearish scenario, even though the 1H H&S would be negated.
  43. 2 points
    Results: GBP BoE Interest Rate Decision Prev: 0.75% Est:0.75% Actual: 0.75% GBP BoE MPC Vote Unchanged Prev: 7 Est:6 Actual: 7 GBP BoE Asset Purchase Facility (Jan) Prev: £435B Est:£435B Actual: £435B GBP BoE MPC Vote Cut Prev: 2 Est:3 Actual: 2 GBP BoE MPC Vote Hike Prev: 0 Est:0 Actual: 0
  44. 2 points
    Hi, The Chicago Wheat looks like it could pull back to the 550 point due to the 50 day EMA (blue line). Its been there twice before in Nov and Dec before bouncing back up. Don't like the 15 point minimum bet though! With an ATR of 10, its a bit spicy for my current portfolio.
  45. 2 points
    It's his farewell message probably
  46. 2 points
    All eyes will be on the number of people who voted for rate cuts
  47. 2 points
    What grit though, being wrong continuously since 2010 and never giving up. Of course a hair stylist is out of the question as he's done his **** shorting this market all the way up bless him 😧
  48. 2 points
    correct, people forget the commodities are like FX and are actually pairs, gold priced in US dollars vs the US dollar, this is why it's not really correct to label chart levels as dollar amounts but as 'handles'. But if the dollar is going up and gold is going up then the chart stays even.
  49. 2 points
    DailyFX view on EURUSD at the moment. Full article here: EUR/USD Price: A Decline Then a Possible Correction – Euro vs USD Outlook
  50. 2 points
    Some very big names reporting this week, likely to be more market moving than coronavirus updates.
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