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  1. 3 points
    Potentially massive resistance zone has been reached on the Dow, the area between 28,000 - 28,500. If it breaks, then we should see the price move up towards 30,000, but if it holds and falls, then for me this could be the top. I think the remainder of November will give us the answer. Very critical period.
  2. 3 points
    I have released a project that will most likely be updated once or twice a day, The updates are self explanatory, A list of the most shorted stocks by Institutional Investors in the UK. Split up into how many institutional investors are short on a stock and by the volume and an amalgamated list of of most shorted stocks. https://github.com/tg12/most_shorted_stocks Again this is a series of my own projects. Not affiliated by IG and no guarantees etc. Feedback and comments welcome. Hope you enjoy it.
  3. 3 points
    Here's a couple of great ones recently, the good old triangle. I traded some of these signals. You can set a position to go short when it drops beneath the lower line and have a stop just above in case it's a 'fake'. If you're really clever you can trade the bounce back up too, and then the drop back down again.
  4. 3 points
    @Kodiak, That means you must look at your stop loss strategy. If you are trading a strong trend (volatility occurs in all trading assets) and if your stop loss is too tight and you keep on getting stopped out then the winner is the broker not you. If you have selected the correct trend which is strong and you are trading with the trend then you must have an effective stop loss strategy. You may want to revisit your risk management and have a look at position size, how much you are willing to risk on each trade based on your risk tolerance and try and come up with a more effective stop loss mechanism that eliminates this issue but at the same time does not increase your overall losses in your trading account. I must make it clear that it is about trading the strongest trends (which tend to be bubbles, hype, frenzy, speculation) etc. I love those types of trends and one must not fear them but embrace them. They are the trends that will make the biggest profits. The weaker the trend you trade the harder it is to have a sound stop loss strategy as volatility will stop you out. It is how your trading system deals with volatility which will be key.
  5. 2 points
    Not sure what you mean? Looks more like the lower channel line has held and we have a small rally off it so far. Of course it could reverse and breakthrough the lower channel line but that is a perfectly legitimate resolution to a wedge consolidation. Chartists will trade which ever breakout occurs (up or down), just have to watch out for the all to frequent these days fakeouts, which many do attribute to algos.
  6. 2 points
    The one thing I have realised is that a lot of people are trying to run before they can walk. People are trying to be successful at trading when they have not become successful at investing. For me being a successful and profitable investor by creating long term wealth is the sound foundation that can lead to into trading or other forms of investing. I am going to use this thread to begin discussing my journey as an investor and the good things I did and the bad things or mistakes I made along the way. I have nothing to hide and I want to share real life examples for the IG Community. Of course I hope you can appreciate that I will not disclose monetary amounts or the valuation of my investment portfolio and this is private but will be open and transparent. I will use 'clear and plain' English and where any jargon or complex words or phrases are used then I will try and explain them in a simple manner for the IG Community. @dmedin, I have tagged you into this as you have inspired me to create this thread. Please bear with me and when I have some time I shall commence with Part 1 below. Part 1: Introduction to Creating Long Term Wealth by Investing - Coming Soon
  7. 2 points
    Hi I am one of the successful person but I do not do Publicity about my success. I make few Hundred and few thousand from time to time . Everybody has different ways of playing the market so u should not follow the crowd . Do what suits you best . I do not use Bollinger bands . another Success theory is to be patient and Don't be Greedy. Take your profit and run its your hard earned money. If u dont take profit then the brokers will take it . good luck in Trading
  8. 2 points
    Interesting issue @dmedin, and one I have struggled with myself. I have a few personal insights for you, if care for them, as follows: Firstly I use multiple time frames for both analysis and as trading triggers, although I usually use the 1H chart as my main trading window, within the context of the bigger picture. With respect to EWT I never use it exclusively, and it is never an actual trigger for trading, merely an analytical corroboration. In other words I need to have a credible EWT set up but don't use label positioning as a trading trigger; it is too rough a technique for that. With respect to Daily vs 1H, often I cannot see the internals on the daily chart (e.g. a wave 1 with an internal 1-5 pattern) but the wave labeling should sense in the context of the rest of the labeling on the daily. In such cases I will then look to see if I can see the 1-5 internals on a shorter term time frame (4H/1H); occasional also 15 mins but below 1H things get less reliable for me. I will happily trade a price action move that conforms to my trading triggers even if the specific EWT at that point is not conclusive as I often see it in hindsight, however the contextual bigger picture EWT has to be present and credible for me to trade. If we look at the Daily chart for Coffee (below). The May bottom at present looks like a trend ending turn (a large wave C - see my previous posts for why I think this is a C). The rally up to wave 1 (purple) could be seen as either a 1-5 or an A-B-C, indeed my first thought was an A-B-C, which is what I was posting initially. However the move down to wave 2 (purple) is a clearer A-B-C, which suggested the previous rally was a 1-5. With another rally and retrace to follow (1-2 blue) and a strong straight rally to a new higher high vs 1 (blue), I can surmise that the current rally is part of a motive wave that will eventually breakout into a confirmed trend change and long term bull market. I cannot see the internal 1-5 on the wave 1 (brown) rally until I look at the short term time frame charts. However the wave 1 label is consistent with the rest of the daily chart labeling and I had a number of indicators suggesting a turn back down and I was anticipating a bearish retrace to set up a strong move to test the key 11,500 level. So far this is playing out. It must be noted that until we get a breakout and a higher high than the wave 1 (purple) point I cannot rule out a consolidation phase. Indeed there are 2 unclosed gaps on the recent rally, one right at the beginning, which could mean the whole rally gets retraced to a new lower low. If that happens then the wave 1 (brown) is negated. Like a lot (all) of technical analysis the price action needs to confirm which scenarios are possible until there is only 1 left. While I believe my Fundamentals case is strong for a long term bull market the technicals help to sort out the timing via the various scenarios in play. Currently my lead scenario is for a retrace to wave 2 (brown) and then a rally to test the key resistance level. However a deep rally might begin to change my mind. The case for my lead scenario is strong, including the strength of the wave 1 (brown) rally. It will take an equally strong bearish price action move to negate this.
  9. 2 points
    Hi everyone, so, those of you following my FTSE - Daily Trades thread may know, I'm looking for new strategies to tackle the market. Was starting to think about this today and made a few thoughts. First one I came up with in the process is the following and utilises 'Andrew's Pitchfork' a rather odd name for a simple principle. Thought Process I was going back to the basics and starting to think about the fundamentals of trading: Buy low and sell high. Or go short high, and buy back low later. So the key of my new strategy has to somewhat depended on these fundamental trading principles. Next I was thinking, looking at a chart, in what region can the price considered to be "low" and in what region would I consider it to be "high". I was looking at a 5min chart and looking at the whole day. I was drawing one line at the low of day, one line at the high of day, those are obviously the extremes where everyone can agree prices are low / high. Then I draw a line right in the middle between the two, where the price is neither high nor low. Then I draw a line at 25% and one at 75% and said, if the price is between the low of day (0%) and 25%, I consider the price to be low. If the price is between 75% and high of day (100%) I consider the price to be high. In between (25%-75%), it's neither high nor low. If I'd somehow manage to always buy in the low range and sell in the high range (or go short vice versa), then this could be a decent strategy. The next problem I was facing is, I've done this analysis on the previous day, where we know high and low of day. How can this strategy work out for future price movements, where high and low of day are unknown. Andrew's Pitchfork This is where the Pitchfork comes in. The assumption I'm making is that if I extrapolate the 4 required levels (low of day, high of day, 25% and 75%) from the previous day to the following day, the strategy still works. This is because more often than not, prices move up and down around a certain level, without breaking away from it and moving onto the next level. (This obviously has to be proven with data - more to that later) The way the pitchfork works is exactly how the 4 required levels are drawn up. The pitchfork is defined over 3 points: High, Low and Mid-point. It then draws 5 levels on the chart: High (100%), 75%, Mid (50%), 25%, Low (0%) So how does it work The way I imagine it to work is the following: 1) Identify previous day's high and low 2) Draw the pitchfork in the chart with aligning its high and lows on the daily high and low. The mid point is exactly in the middle of daily high and low. This draws a horizontal pitchfork in the chart. 3) When the price of the asset falls below 25%, place a buy stop order at the 25% level. Once the price rises again and breaks through that level, the order gets executed. (vice versa with shorting above the 75% level) 4) Stop Loss is right below (size of the spread) the low of the pitchfork. Target is somewhere above 50%-75%. You have at least a 1:1 risk-to-reward ratio. Need to calculate target level by asset based on historic patterns. Does it work? Don't know yet. So far I've manually painted a few of those pitchforks in the chart for the past couple of days on FTSE100, NASDAQ, CL and NG and it seems it works more often than it doesn't. Cases where it clearly doesn't work is when there's a strong move to either direction, aka price breaks-out and moves to a different level than it was the day before. Interestingly when this happens, the strategy wouldn't necessarily always result in a loss, but sometimes the entry conditions would never be triggered in the first place. E.g. if we start the day already in the high region (above 75%) and then never fall below it - no order triggered on that day. On the negative side, huge breakout opportunities are missed with this strategy, so worth looking into a complementary strategy which works specifically for break-outs. Next steps Next, I'm trying to backtest the strategy. Will need to pull a whole lot of data and analyse. Hope to have that done over the weekend. Will update the thread accordingly. Data I'm trying to get: Win ratio, Where's the optimum take profit level, Time of day where this usually plays out (my idea is to hook this in with the ATR analysis I've done and trade this pattern at times of high ATR, aka FTSE, DAX in the morning, NASDAQ, NG, CL in the afternoon) First success First successful example trade taken this afternoon on CL. You see nicely how the pitchfork is drawn on the chart and is derived by the high and low of the previous day. At 14.30 today the price dipped below the 25% level. I set the buy stop order at the 25% level, which got triggered at 14.35. The price afterwards makes a sweep move up to the 50% level, where my limit sell order gets triggered at 15.15. It would've been possible to play it up until the 75% level, but wanted to be safe, without having the data yet. Could've been luck - who knows. What do you think of this approach?
  10. 2 points
    @dmedin, My IG app on my iPhone seems to be working but the desktop version on my iMac is not. This is very frustrating as when I am at home then I want to use IG on my desktop as the user experience is far greater and superior than on the smartphone. That is for emergencies only! None of my charts are loading up and the website is very slow and 'clunky'.
  11. 2 points
    Last day of the early start: UK and European clocks go back one hour when daylight saving time (DST) ends on Sunday 27 October. From this date until Sunday 3 November, the end of US DST, there are a number of changes to our opening hours: • US and Canadian markets will trade one hour earlier in UK time. For example, US and Canadian shares will be quoted between 1.30pm and 8pm • All forex markets will open at 9pm on Sunday 27 October and close at 9pm on Friday 1 November • 24-hour dealing on indices will open at 10pm on Sunday 27 October and close at 9pm on Friday 1 November • US shares (all sessions) will run from 8am to midnight Monday to Thursday, and from 8am to 9pm on Friday 1 November • In-hours trading on Eurex futures (including the Germany 30) will be available one hour earlier at 12:10am • Expiring US markets will be settling an hour earlier than usual • New York Cocoa, Sugar and Coffee, and London Sugar all close an hour earlier than normal • Weekend trading on indices will open at the same time (4am Saturday), but will close one hour earlier (9.40pm Sunday) The dealing desk will also close early at 9pm on Friday 1 November.
  12. 2 points
  13. 2 points
    Err, day trading? No thanks! His roller coaster can be smoothed out if he switches to longer term trading. Day trading is a roller coaster, that's part of that game, especially intra-day. He is right about his emotional pressures, it is because he is over trading (too many traders seeking to generate massive hits in one go). He is wrong that the way to address this is to go back to a small account as he will not have addressed his underlying emotional issues and trading errors, they will emerge again if he is successful (i.e. his account grows). In the end trading is about accumulating wealth over time not about generating a steady income. The opportunities the markets offer are lumpy so you have to be ready to take advantage when they are offered. A big part of trading successfully is to not trade, most of the time.
  14. 2 points
    How to retire by 40 *note number 6 🙂
  15. 2 points
    Possible bounce off the channel line. Note also the small gap closure.
  16. 2 points
    @Djelibaybi is this for CFD / Spreadbet? The new platform is not based on Flash in case you're still using the old one...
  17. 2 points
    For those of you out there who are now getting into trading or have been thinking why the NFP report is so important in terms of trading, I’ve decided to lay out some information about that and include my prediction and thoughts on the NFP report today - 05/07/2019. So let’s first start with the definition of NFP: This is a term used in the US to refer to any job. One important thing about the NFP is that it does not take into account the jobs created in farming, private household employees and non-profit employees. The report is released on a monthly basis from the United States Department of Labour and is most commonly addressed as the “Jobs Report”. This report shows the state of the labor market. In its core the report lists the jobs openings in many sectors across the US and can be taken as a measure for the business and the overall US economy. But what does that mean? Well, it is pretty simple - if there are more jobs openings this means that the businesses are hiring, which ultimately means that they are growing. And we all know that if businesses are growing this means the economy is stable and it is growing with them. This leads to newly employed people who receive funds which can they spend back inside the economy for goods and services, which further fuels the overall growth of the economy. So you’ve probably already guessed it - the higher the number on the report is - the higher the economy growth is. And vice versa if the report is showing a decrease in jobs openings, this means that the economy is shrinking, businesses are not growing, thus the value of the US dollar goes down. This is one of the most followed reports published every first Friday of each month and usually the markets react severely due to people, hedge funds and other financial oriented companies try to exploit the data from the report. Usually the US Dollar, Equities and Gold are the major assets that get affected by the NFP. Now you know the main points you need to know about the Non-farm Payrolls and this leads us to today - Friday the 5th of July. The NFP will be published at exactly 12:30 GMT. Of course this is preliminary data, but the final consensus is often close to this data, so it is important to follow it even if you don’t trade during that time as it can give you hints on the current state of the US Economy. I just want to add in here that the actual data has to be either higher or lower than the forecasted data in order for the market to move up or down. If the actual readings are the same as the forecasted, we probably won’t see a very strong impact on the market as the forecasted data has already been priced in on it. And now for the prediction: The previous reading (June) was 75k and analysts and experts now expect a rise in the NFP up to 160k. Judging by the US economy growth during the Trump administration and I’d like to add here that no matter what we think of him - the facts are facts and the US economy has been growing ever since he took office, a rise in the NFP is expected bet so to say. However, I think that the Trump administration really pumped the economy in the last 3 years and again in my opinion (I am not an economist, so keep that in mind) every economy that is pumped really hard at one point gets to a state where it needs to slow down. Think of it like a bubble - if you inflate the bubble too much it explodes, but if you inflate it just enough and leave it like that - it will remain inflated for some time, before starting to release some of the air. This being said, I believe that the actual reading which will be published today on the NFP report, will be lower than the expected.The US dollar got extremely strong in the past year, so now it is time for some deflation or the bubble - it might burst and we might see another 2008 financial crisis - but stronger this time. So I think the actual data will be around 130k, which still shows growth of the economy and companies, but at the same time is lower than the forecasted reading, so we might actually see a reverse effect on the market and the US dollar could lose value in this scenario. As I said this is just a personal opinion and is by no means a proposition to trade or advice. Make your research and outweight the pluses and minuses of trading in this situation. Usually I prefer to stay away from the market during the publishing time of the report and assess the situation after that. Share your opinion on the topic below! Good luck out there Market Warriors and remember to always have fun and be patient with the markets!
  18. 2 points
    On the 1H and 4H charts the picture looks like a clear break of near term support. Gold and Silver look set to test the next levels (circa 1380 & 1505 respectively). Silver is closer. A break below these levels is a lower low, after lower highs...
  19. 2 points
    Scream if you want to go lower!!!
  20. 2 points
    See this thread;
  21. 2 points
    This type of pic below is so common now but people still fall for it. Paid for signals service etc by obviously successful traders, they must be, I mean look at all that money! No one walks around with a big bags full of real cash unless they are drug dealers or dodgy arms salesmen.
  22. 2 points
    Oil volumes this morning are exceptionally low. Almost no sellers. Be careful in either direction.
  23. 2 points
    Coining it? Dull it aint. Bitcoin that is. 10% swings, often in a day. Pumping up the price and deflating it like a giant balloon. Price doubled in 3 months. But then again it did lose 70% of it's value in 2017. Definitely not a one way bet. Stability is not the watchword with blockchain currencies. Plus there is little or no rhyme or reason for the swings. Even if there are fewer and less frequent coins being created. Volatility is blockchain's friend. $10 000 BTC, (again?) why not? A $4000 BTC again why not? Glad it's not vegetables or ice cream though. Though it is in China (certain veg) atm. New currencies... so do you trust the ledger?
  24. 2 points
    I see no reason to Hide any info, if some one can gain a benefit from the experience of others, then lessons are learnt/taught the world is a crazy place these days, its nice to have a group of like minded souls all striving towards the same goal. while i love my macd and pSAR indicators my emotions always get the better of me and ultimately i lose, over the last few years i have lost around the $50K mark not to mention (due to other circumstance) losing my Business, House, Car, breaking my back 2 years ago in a car accident in the space of 4-6 months, over all Bankruptcy saw me down over half a million dollars+. But i get up every morning , i smile and go off to work, i have a new passion, a reason for living, Life itself has been very tough, but i feel the light at the end of the tunnel is now growing , and Karma is seeing i get my lucky break due. I now use an Auto Trade System, its only very new to me, this has been the 1st week and then only 4 days of it working at full speed, im 3 weeks into it, the 1st 2 weeks were a trial with $500 and i made $42 in that 2 weeks, now at the end of week 3 and another $5k put into the trading account, im up $296. With very low risk factors, this has the potential to make a lot more per day/week, but $70+ a night while i sleep this week is a good return. Im going to graph up some info over this weekend, and i will be happy to share my results with any that are interested. (will start a new post with it.)
  25. 2 points
    Gold has arrived at an important juncture for me but before that looking at that I looked back at the long term charts to remind myself of the big picture. Unsurprisingly there are 2 scenarios (1 up and 1 down), actually a third which is continued consolidation (sideways) because in the big picture Gold remains in a long term consolidation Triangle, which is narrowing. This is significant as at some point Gold will breakout of this Triangle and that will signal the resolution to which of the 2 scenarios wins out. For my money it is scenario 1, a massive Gold rally in concert with a massive stocks Bear as Gold once again reverts to its historic role as a store of value in uncertain times, and do we ever live in such times..! Note under these conditions Gold can, and almost certainly will, go in the same direction as USD. So I am Bullish gold and given all the bullish chatter of late you might imagine I am happy. Alas I remain unconvinced of this rally and will not be so until there is a break of the previous high, around 1347, which we are very close to. Actually I really want to see a break of the upper resistance (LT Triangle line and potential H&S neckline breakout). The short term offers 2 scenarios as well: the first a break of that prior High and turn at 1347, the second that we are currently seeing a wave B turn back down to a final wave C bearish run of the EWT1-2 retrace and a test of the Fib 50% line (also Weekly chart Fib 23%) before the true rally gets going. I am minded to the latter unless or until I see a break of the 1347 high. Technicals: A-B-C retrace could be completed where I have marked Green A at 1266. A break of the 1347 high would confirm. If not then the retrace is a complex version and the market will turn before or at 1347 and drop in a wave C. The form of the rally is currently in an A-B-C, which is not motive, however a break of the 1347 zone will change this set up. There is an un-closed gap around the Fib 50% level. There is a pin bar and inside bar price action formation at the current market area, showing a potential turn once this is resolved. RSI and Stochastic are over-bought. There is NMD on the 4 hour and 1 hour chart at the pin bar high, although we could yet see another test of the 1347 level before this resolves. Note also that we have seen a reverse Death Cross (some call this a Golden Cross) but I would ideally like to see a cancellation of this and then a final cross to cement a rally. This will only occur if we get a big bearish move now followed by a wave 2 retrace turn into a very strong rally. I am not looking to trade the bearish move, I prefer to wait for the Bull rally triggers and prefer to trade this in Silver rather than Gold, the former having remained more subdued. Add to that the Platinum bearishness and I can't yet see a case for precious metals rally. I think we will see continued stocks bullishness for a while, albeit likely to contain a lot of whipsaw action rather than a rocket, which does not support a massive precious metals rally, yet.
  26. 2 points
    @nit2wynit First, find the direction of the day then use a scalping curve such as @Caseynotes has suggested but only trade in one direction that will keep your losses down and your head straight, if you have the direction right you will get a few good scalps and that's all you need. There will be pullbacks and corrections but these just reload your gun.
  27. 2 points
    @Bell I see resistance @25350ish on the Dow any higher than that and I think June will be a Bull month, it sounds daft but it does seem to work a little that way, month by month. We may even see the Dow get there tonight and that will be interesting for the rest of the week. It looks like I'll be up late tonight looking for that short especially if the Dow gets to 25350 then pulls back. I trade the Dax but the Dow is the Boss.
  28. 2 points
    I actually closed my oil long on the back of this post (along with some other analysis of course) so thanks for the trigger to re-evaluate.
  29. 2 points
    still hanging on in that channel !
  30. 2 points
    Hi, Yes you are right. So I have made some minor tweaks to it, I count up the highest volume and highest number of investors and say pick the top 10. If the companies intersect both lists they are shorted multiple investors and a high percentage of their fund is short, They make the bottom list that is the summary list at the bottom. I am working on putting this into the API it automatically trades (shorts) for me on IG Index. Github is just just really a file-store for the purpose of this project. I am just using it as a central store so nothing special about Github in that respect. The log files are tagged per time generated. Hope this helps!
  31. 2 points
    I'll be shifting to HL. Out of principal, I'm going to shift all of my trading there, not just the cannabis stocks.
  32. 2 points
    great interview in my opinion - posted here due to the discussion about US shale oil https://www.youtube.com/watch?v=BPjUCaueRLw
  33. 2 points
    Lean Hog always makes me think of a pig down the gym.
  34. 2 points
    @Britcoin, your pick is of the cfd platform, IG options in UK are only available on the spread bet platform or 'professional' cfd account platform. you will need to open a spread bet account.
  35. 2 points
    @Dantro, By having a stop loss strategy you should know your exit before you enter the trade. Have a look at indicators such as volume (is it increasing along with the price action), momentum, RSI, moving averages, etc. Use all of these and others to help you make an informed decision. Why is the particular asset moving in the direction it is. Use Oscilators for potential entry points when you have identified a trend. What moving averages are you looking at from a time perspective? Even after applying all of the above you can still lose on a trade if your timing is wrong. Trading is supposed to be extremely difficult and anyone who suggests otherwise is wrong. It will require a large capital buffer, patience, discipline, effort, etc. The hardest thing to do as a trader is nothing. Sometimes merely waiting patiently for the right opportunity to trade based on trends is hard if you are 'trigger happy'.
  36. 2 points
    Latest countdown guide published in the Guardian this morning;
  37. 2 points
    Recently we have touched on an interesting and oft little know resource that technical and fundamentals traders alike leverage. The US Commodity and Futures Trading Commission issues the positions "commitments" of traders on the exchanges covering a wide range of markets (see link below). https://www.cftc.gov/MarketReports/CommitmentsofTraders/index.htm Now traders will use this in different ways, as with everything in trading there are likely to be several different approached. Here is how I use COT data within my trading methodology. Note that I am a long term swing traders so I am looking for major trend changes to enter high probability/low exposure positions. Note also that a big part of this strategy for anyone doing it is to be contrarian when it makes sense (i.e. bet against the herd at the end of the trend as they pill over the cliff!). I am using Gold to illustrate this as I have been actively using it to inform my Gold trading, especially when I went Long in Sept & Nov 2018 (see my Gold and Silver Rally thread for the history on that one if you are interested) The bottom line on this is quite simple. When the the Non Commercials are heavily net one way or the other, based on historical swings and peaks and this occurs where my technical analysis is showing a turn I get ready to go the opposite way. most of these Non Commercials are trend followers and have to be in the market, where as retail traders can sit it out and wait, this is our one big advantage. The chart below shows annotations of where the Non commercials have been peak Long when the market turns down and vice versa. Food for thought. PS I use the combined Futures and Options data set.
  38. 2 points
    @Nelsy-Boy, In my experience if the price of an asset moves with low volume then it is a 'weaker move' against when the price of an asset moves on high volume which to me represents a 'stronger move'. The volume tends to go with the trend. To me it shows how much conviction traders have on the trend in play. A word of caution here @Nelsy-Boy. Volume can be manipulated to make it look like there is higher volume to attract trades. I am not sure if you have come across the Volume Price Trend (VPT) Indicator? It shows the strength of the price change and the price direction of the asset in question. I am sure if you look this up then you will find plenty of material on this. I personally tend to look for an increase in volume when trying to identify trends both on the upwards and downwards. If I see volume increasing as the price is increasing / decreasing then it is telling me that the trend is getting stronger. There are other indicators to consider but this is just one of many that can go into the 'basket' before making a final assessment / conclusion on whether the trend is strong enough to trade. So to answer your question, in my personal opinion, more times than not if the price moves a big chunk higher with little volume then this is not as positive as if the price moved with higher volume. So to summarise below: Price moves upwards / downwards on low volume = Potential weaker move / trend Price moves upwards / downwards on higher volume = Potential stronger move / trend
  39. 1 point
    oops, got the days mixed up, half day Wednesday, Thanksgiving Thursday and call in sick Friday.
  40. 1 point
    That's weird. I thought I had posted an updated on this thread... Losing my mind maybe... Anyway yesterday's bearish move on both Gold and Silver helped me spot something I should have spotted earlier, which is a possible consolidation Triangle formation. The key to such a pattern is to trade the breakout (watch out for fakeouts though). The set up that is most favourable at present is for a breakout to the down side to continue the retrace to test the H&S neckline (circa 1360). The Triangle itself has 5 hits and conventional EWT has it that the fifth sparks a move in the direction of the turn (in this case down). Currently we have seen a hit of the bottom line and a small rally but this could be a smaller consolidation within a bearish fast move down. Ideally want to see further USD strength to support this directional move. Alternatively we could see another round trip within the consolidation pattern.
  41. 1 point
  42. 1 point
    yes, by lowering the contract/bet size. It will depend on which country you are trading from and which market, say you are in the UK trading ftse, the regulator has made the min margin requirement 5% which is the equivalent of max leverage of 20:1, as you say the margin is auto calc'd so on the platform fill in a order of deal ticket, adjust the £/point size up and down and look how the amount of margin required changes (amount you must have in your account to fund the trade). note that the mt4 platform allows a much lower minimum bet size than the online platform but can't trade individual stocks.
  43. 1 point
    OK but again no use if you wanted to trade 2011/2012 or 2015/2016 or 2018/2019 and was waiting for a continuation pattern on the world equity markets chart. Its just another pretty pattern. 👿
  44. 1 point
    Looks like the retrace was quite shallow (Fib 38%) which is consistent with a strong rally phase (Wave C type). We have just had price poke through the recent high to make a higher high and complete the A-B-C retrace and rally. If this is a 1-2 (which stacks) then next stop could be the 13,400 area for a possible Flag consolidation phase before the next run up to the 14,000 area to complete the retrace but lots to go before we hone in on that, for now I am looking for the next 2 resistance zones to be cleared in short order, a break above the 12,800 and we are game on.
  45. 1 point
    One of the most searched assets on the IG platform has been Palladium this week, so I thought I'd just give a run down of a few things which may be useful to help your trading. Some of these are basics for the new trader, but there may be one of two things which you find useful. How to trade Palladium and where to research fundamentals FIND: under the commodities section, or using the search at the top WATCHLIST: right click on the asset and 'add to watchlist' if you want quicker access to this in the future NEWS: start your research on Palladium using the 'News' section at the bottom of the chart, or in the News flyout on the left SWITCH: swapping between spot and futures may be useful if you're going for a longer term view WORKSPACE: add to workspace to access the chart without using the flyout. Resize as required BUY/SELL: if you want to trade immediatly, access your deal ticket here WTO warns of slow down in trade growth - impact on mining sector Further reading Palladium Price: More Losses Likely as ’Bubble’ Bursts on DailyFX (March 29th) Brexit Rumours, Palladium Bubble, EURUSD Outlook - US Market Open on DailyFX (March 29th) Community thread on Palladium as below
  46. 1 point
    @TrendFollower US debt to China is $1.1 trillion. China hold $2.1 trillion in US govt bonds and treasuries. However, total US debt is aprox $22 trillion= all the assets held by all US pensions and investments. China, newer on the scene to creating debt has been making a fair go at creating debt mountains themselves, currently $34 trillion and counting, so need an ever expanding economy to cover their costs. Ergo China needs an export surplus and higher value exports at that. For the US and China it is a case of both of them wanting their cake and eating it. How does the hand get played out? That's the trillion dollar question. Xi has the advantage of time. Trump the advantage of financial clout (he's their biggest customer). However, the poker analogy is not really fair as the results are not binary, more quantum than binary. There are no big winners from an escalation of the current situation and the downsides are far from desirable. If this were to become a matter of attrition, Xi would win as Trump would run out of time and fail to be re-elected on the back of poor economic performance. Though Xi himself would hardly be sitting comfortably on his golden throne in Beijing either for the same reason. Who will blink first?
  47. 1 point
    Hi @Caseynotes Yes you can do the same in the actual market trading screen with the info button at the top right - but it still does not tell you the market cannot be sold to open. This fact is also inconsistent across markets i.e. in the dealing process the info arrives at different stages. Bottom line is you could be doing some market research on trade set-up, at the end of which you eventually discover the market isn't even tradable. This of course is utter nonsense. IG should take down products that are not tradeable - in particular the forwards. All furcoat and a padlocked chastity belt.....
  48. 1 point
    I my personal experience Commodities as an asset class is very good in identifying trends to trade. In the past 12 months: Oil has seen a downward trend followed by a recent upward trend Natural Gas has seen a monumental upward trend followed by a quick and sharp downward trend Carbon Emissions has seen a strong upward trend Precious Metals have seen strong upward price movement especially Palladium and now Gold / Silver Iron Ore has seen a recent 'rocket' surge Orange Juice has seen a downward trend Lumber (my personal favourite) has seen a strong upward, then strong downward and now followed by upward trend Live Cattle has seen a strong upward trend These are just some of the trends (above) from memory I have listed. I am sure there are many more. Focussing on and concentrating on a specific asset class can help obtain the necessary knowledge, experience and specialism in trading that market rather than focussing on many different assets. This is especially important for new and inexperienced traders. As more experience and success is gained then one can branch out and apply trend following into various different asset classes. The key for trend following is to make profits on markets which are trending both upwards and downwards.
  49. 1 point
    Dow and Nikkei take a peek over the parapet, Dax and Ftse looking on curiously, could shape up to being a strong up day, let's see.
  50. 1 point
    Hi, @Nelsy-Boy, like I say, I prefer more than one confirmation. The trend line break is the "heads up" , with something this fast , I prefer some of the MAs to be on my side. If price crosses back over them , I know I'm wrong. The 150 EMA is my favourite, for me that usually confirms a change in trend
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