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Ascending Triangle Pattern spotted on Dow 1H chart

@Djelibaybi is this for CFD / Spreadbet? The new platform is not based on Flash in case you're still using the old one...

Can you configure your Outlook to auto send it to Trash

I've heard that when you make money spread betting or trading it's not yours to keep because sooner or later you will it give it all back to the market (just like in a Casino), it's very hard to walk away with all your profit. Is this true? and if so what's the point?

Ordinarily Yes, that would be the Buy In (more technically the next large green to the right of it) but based on the 1st Red I would personally wait for a New High in the area. The chart actually hit 162 and reversed anyway.

Thanks for all contributions on that topic. I am also not reading any magazine right now and spending all my evening time in updating my analysis and price patterns (I am a part-time trader). But I wanted to check with other fellow traders if this is also what they do. The only magazine I really liked is the IBD - but it does not fit with my trading style (I am a scalper, therefore short terms price action is really everything for me....). Regards, Gaby

An inverted pinbar may be about to be formed on the 1H chart after bouncing off the 20 EMA. This could be a bearish reversal back to 27000

The futures or forwards markets are designed specifically for holding trades longer term and do not incur overnight funding charges but do have a larger spread which must be repaid every time the contract is rolled over (usually every 3 months). To find if futures or forwards are offered for the market you are looking at check for a dropdown box next to the title, see pic below.

Investors Chronicle devotes a small daily article to TA, I am tempted to subscribe for the insights into businesses and perhaps translating that into SB on shares. But there's already a lot of free info available.

blasted upgrades/updates always cause problems, Google chrome had a big update yesterday so waiting for that to fall apart too 😅

...He who Hesitates.... plus a bit of slippage. Up to E on my A-Z. It's too difficult to find and create a Watchlist on Retail in time. Late getting in, early getting out. I'm ready for next stage PRT. Current Watchlist MallInckrodt. and Bitauto Holdings.

Interesting. I've not looked into Pivot Points yet, but will have a look at it, the next trading days and see if it works out. I'm determining short term direction by looking at trends and breakouts from those trends Bounces off or break through VWAP or EMAs Bounces off or break through key levels of support/resistance (high/low of day, round price values, etc.) For example, today we had this pre-market channel, trending upwards between lows of 7350 and highs of 7365. This channel broke at around 7.15 (before my trading hours) with the break below the 200EMA on the 5min chart. From there it continued to make lower lows and lower highs. Short term direction at market open: down-trend I then expected a reversal at the double bottom at 7330 (one of my positive trades today), however, I didn't expect it to be that strong and breaking far above the VWAP. I expected it to turn around at the VWAP at 7345, where I would've taken another short position with target at low of day and re-enter short at a potential break of that level or long at potential reversal. As I can now see a few hours later, in theory that is what has actually happened, just instead of reversing at the VWAP at 7345, it reversed at the 200EMA at 7352 and from there a nice 30 point move downwards with making new lows on the day. I had the right idea in principle, just slightly wrong set-up timings.

I should really have made my other post here, thanks for reminding us to look at charts instead of being hammered by sh!tty manipulative 'news' stories.

Wehey.....Up £20 a Win You know, I appreciate you didn't ask for my advice or for me to give you ideas......but if you'd said you weren't up for it I'd have concentrated on my own charts... jus sayin! :O

I'm sure you've already posted this but it's pretty hard to beat for basic free content. https://www.investopedia.com/technical-analysis-4689657

stay tuned, still digesting, there is an awful lot of data in the report so not unusual to be a mixed bag, the headline number was down but the average hourly earnings was a beat 0.4% when 0.3 expected, still no real move in either direction in Dow yet.

Break through a ST support level and back below my monthly chart line (not particularly relevant at this point of course). If this carries on and is confirmed then the pin bar was a reversal and we should see a test of the next support level around $56. If that fails to hold then bring on $50.

Hi all, Nice to see something other than "Chart is frozen" and "Help, how can I get my money back!" This is what I think about Spot Gold, I could be wrong though, just offering an alternative view.

Possible turn in Gold and Silver in the making. Gold has hit a lower channel line off NMD at the turn. Looks like a clean wave 1 or a larger rally to come but, if the break is confirmed, we should see that retrace I have been talking about. For swing traders this is about Shorting the move, but watch out for the wave B. For trend followers you might want to check your stops and prepare to buy the eventual dip. There was a Pennant that marked almost exactly the half way point on this wave and gave be a great hint at the potential top where we got it (if confirmed). I am targeting a large retrace, maybe back to the original neckline breakout at circa (1350). However we may only see a consolidation phase, in which case buying the breakout Long on that would be the play.

12k? Lightweight! That's pocket money

it is solved on my prorealtime charts 😍😍 FINALLYYYYYYY

Hi all, I would like to share my trade idea on HSI, hope to get advise from all the great people here. 1. HSI remains weak on Daily chart. 2. Multiple week long protests and weak GDP weighs on Hong Kong market in the weeks to come. 3. Although HSI may find some relief from a recently announced economic package and any positive US-China trade talks, negative sentiment remains Trade Idea: 1. Current bull on daily chart is strong, it is likely exceed 20 EMA and extend beyond it. 2. Wait for candle to close below 20 EMA again. 3. Short with TP of 25000 for ~1000 pips. SL at 500 pips for R:R of 1:2

Possible breakout of that 4H chart consolidation Triangle with a short term failed retest. Will need to see an initial break through the 5747 support level to be more confident and then the next one at 5580, after which there is nothing much until the crucial 5000 level.

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.

You might be a monkey's uncle @dmedin, or at least it depends whether you are saying the move since 30 May is a wave 3 in and of itself or just the first leg (wave 1) or a larger wave 3 (BTW, I think you meant to say the strategy was to buy and hold the June breakout right?). Personally I see it as a wave 1 of wave 3 so we should see a wave 2 retrace before things really get going and that retrace bearish move will surprise and knock the confidence of the bulls, probably stopping them out of positions they had locked in as big winners. This is how sentiment changes and big moves are set up. FWIW, COT data is the most bullish since before 2007 (I don't have prior data so it might be the most bullish ever, it is more bullish than at any time during the massive rally up to 2011!). I think that is too bullish to be sustained at this juncture. As it happens buying the triangle breakout on May 30 was right and holding there will probably be alright, unless the alternate deflationary Bear scenario holds true. Some people view the current move as a wave B that sets up a further drop as deflation hits across the board. Personally I don't buy that one, not yet at least, although I can see it on the technicals. Personally I see Gold and Silver as a safe haven store of value when things start to get really ugly, its just that we are not there yet so I can't see a justification for this particular bullish move being the "big one". If stocks and bonds crater in the coming weeks then gold and silver are likely to rally hard. Does anyone who is buying into precious metals rip see the corresponding collapse elsewhere? Some people do thing the ATHs on US large caps as the top but even then it takes time for a collapse to happen. Perhaps rumours of the demise of the aged bulls are exaggerated, at this moment at least. And this is all the more relevant if you look at the price charts. Last week produced the first real bearish candle since that May 30 breakout. This occurred at a zone of considerable long term resistance, although the wave B proponents see 1590-1600 as the target level, this would be the Fib 62% off the 2011 ATH. Additionally, on the Daily chart, there is a potential pennant off the Triangle low prior to the May 30 breakout, which hit 2X the pennant mid point (1555) at this weeks high. And at the end of last week Gold poked through a potential ending Triangle and stayed below. If this breakout holds early next week then we could have seen that wave 1 of 3 turn I was referring to. The pre May 30 Triangle retrace is a bit of a problem for me. If it is a 1-2 then the subsequent rally is a wave 3 and the next move will be a 4 and then a 5 and then a larger 1-2. That's all a bit complicated, although it might fit well with the whip saw price action we are seeing on stocks. If the Triangle is not a 1-2, but just forms part of the whole single rally wave from July 2018 (ah! is that the July you meant? @dmedin) then the next bearish move would be a 1-2 retrace that would most likely test the H&S neckline and Fib 50% at 1350 (confluence of both these thing is like a magnet for price in my opinion). There is pretty solid NMD on the Daily chart at last weeks top. Summary: I think we have seen an end to the current rally but we may see a small retrace down now and another leg up for a slightly later "real" top out Either way we should see a strong retrace (now or after another leg up) to retest the 1350 support zone before the mega rally gets going in conjunction with other market disruption moves There is an outside chance that precious metals are only in a retrace and that a further bearish lower low than 2015 is slated but I don't give this one a high probability at present.

not sure, your currency trades must have been on demo as the live account only goes as low as 0.1 for both currencies and indices so I still think you need to look at the live feed connection.

saw this on twitter

Didn't feel you were @dmedin, just pointing out that these calls are often all there in the threads, just maybe requires a bit of work to get into the back threads.

@nit2wynit, My parting gift to you for your £1,000.00 would be to invest it and not trade it. Find a top quality 'Investment Trust' or 'Investment Fund' such as a Unit Trust or OEIC and try and achieve some capital growth which you have not managed to do in trading. In terms of what type of investment well it could be a specific country or region which you are very positive and bullish about. It could be a technology fund or a commodity fund. It could be small cap fund. Some of my best performing funds are micro cap and small cap funds. My best performer over the past year or two has been Japanese Smaller Companies and US Smaller Companies though I would be weary of investing a lump sum in these right now. Think about applying 'Cost Pound Averaging' to any investment strategy. Another top performer of mine has been the Smith and Williamson Artificial Intelligence fund. Of course you must decide what is best for your £1k but why not let it grow and build and investment portfolio and then use your profits from that to trade? That is what I do.

That reminds me I wrote something about learning on mt4 and forgot to post it, let me find it.

watch out, Trump just responded and has upped the stakes, if you have an open indices position you might want to think about looking to the weekend markets for a hedge.

Clearly it's a coincidence coming after statement made by Powell. What a manipulative b*stard ...

Indices just waiting at this hurdle and looking for any excuse to jump, have tried going backwards several times but just not interested. Bonds drifting down is bad news for the recession obsessionists, historically touch and go's don't count, the yields need to go deep into inversion and stay there for several months for it to count as a precursor to a recession. Long term these markets are still close to their highs.

Hi, you can check the hedging setting from settings tab on the mini terminal app (download from IG's app pack), I'm not sure how to do this without going through the mini terminal. pic 1 Check the stop limit by going to Marketwatch in mt4 and right click on usdzar then click 'specification', it's currently 4400 but will change depending on session times. pic 2 IG does seem to have larger limits for orders on mt4 compared to their online platform or placing trade manually at market on mt4. hope this helps.

I heard something similar @cryptotrader, couched in terms of not calculating risk properly and pricing it appropriately; disaster waiting to happen. @dmedin, scary as it is my personal conclusion is that the scenario you paint is an inevitable conclusions of the massive debt fueled expansion since Bretton Woods was revoked by Nixon in the early 70s. It will not be because of Trump or Brexit of Hong Kong or the Yellow Vests or any one thing (these are just symptoms) but a natural conclusion of the longest expansion cycle in modern history. The system doesn't work. It needs a reset. Alas we will have to suffer before we get it I think... As someone who came up during the last major recession (not 2007 that was just a blip by comparison, no I mean the late 80s through to mid 90s) I have some knowledge of what hard times are. I was also a kid during the 70s oil shocks and that was no picnic either. Since then though we have been in good times. When the music stops it will be truly awful, that is why I am no longer invested in the stock markets. Cash and bullion only. For those us older than 30 it makes no sense to hold on at such a top. Unless you believe this time it is different...

Question, is that specifically referring to the turning point, or the 'technical' recession value after the technical 20% drop? Arguably the only 'data' there is on the success of trading strategies is to buy a low cost diversified index tracker and compound your divs. Trading is about the intellectual stimulus about beating the market.

Mercury, of course, how you label your wave counts is entirely up to you. Corrective waves (according to EWT) are in the following form: ZigZags, Flats (Regular & Expanded) & Triangles. Complicated corrections are usually a combination. A common one is a double Zig-Zag. Triangles can often found in wave 4 or B but never wave 2. Motive waves are usually pretty simple to spot even for a novice. The problem always occur with corrections in my experience. Knowing the substructure count is critical in that respect. ZigZag (5-3-5), Flat (3-3-5), Triangle (3-3-3-3-3). There is often an alternative count (although one will always be preferred) and only subsequent price action reveals which is correct. There are a few rules, but really not many, and some guidelines. With respect Mercury there is no rule nor guideline that I have ever seen that says "the move does not penetrate above the previous high" for a corrective wave!! For those that don't have the time nor inclination you can subscribe to various services. In the hands of an expert, when combined with Fibonacci ratios, trend lines and sentiment indicators it is, IMHO, a powerful tool.

No music, All my trading is automated these days on a server in the cloud. Or at least 99% of it is. I do like to have a bit of excitement now and again.

Of the specific event @AbDXB1345 maybe counter parties with exposure to GE, whether the insurance companies referenced by Markopolos or suppliers to GE, especially any with a significant portion of their business with GE. As GE has been a poor performer for decades it is not likely to be a huge impacting factor for investors as Enron was in 2000, given that Enron was riding high. For me it is more about a signal of a wider problem within the economic data being reported. It is rarely just one organisation that is hiding things, typically this is tip of the iceberg stuff and the contagion risk is that it spreads to the wider market and that will be enough to trigger a collapse event and a resulting recession or worse.

Time is a problem @dmedin, no question. It seems there are people on the forum who devote 100% of their working time to trading but most of us must juggle it with other things. Frankly I am not one of those who even wants to be sitting in front of the charts all day, it would drive me nuts and it is only really necessary is you are trading very short time frame charts. I did try it at first, mostly because I had no trust in a system, or the market for that matter. Mostly I had no trust in myself and for good reason, I had not put in the work and taken the time to gain the experience. And I lost and lost. Where else would you see people diving into something they have no training and experience of and risking their hard earned capital. "Down the dog" maybe... But then I stopped and decided to take a different approach. Everything I read led me to a simple conclusion. Professional or retail it doesn't matter, if you are competing against the high frequency algo traders and prop traders you need to take a different approach. It seemed to me that most, if not all, of the people who had been on this journey and successfully broke through the early days of losses and stumbling about and frustration and negativity did a few things in common as follows: Got a grip on themselves and the emotional part of their brain that was driving them to jump in at wrong times without a clear premise. This is chiefly about controlling the fear of missing out syndrome and dreaming of another life. Took the time to study and develop a methodology for analysing, trading and managing their account in a professional business like manner. Changed the way they traded to few bigger better at longer time frames. I am sure there are people on this forum who will disagree and tell you that you can make money on day-trading and scalping but if it doesn't suit you then don't do it. It didn't suit me, I couldn't see the woods for the trees down at 5mins etc. So I tried something else and it works much better for me. When asked about his rules for investing Warren Buffett replied, "don't lose money". It was a bit of a joke but there was a serious message there, the key is to limit losses and ride winners so as to max your profits. In this way you don't need to worry about hit rates and pushing the 50/50 coin toss to 55/45 in your favour. You just need to win big and lose small. I will typically lose 8 out of 10 times but I scratch quickly if price action does not go according to my thesis and move stops to break even as soon as possible. If on the 9th or 10th try I hit it then I am a net winner. Trading is a long term activity. The key to success is to be net ahead over a year not a day or a week. You cannot think in terms of getting a regular income, it just doesn't work like that. Also you have to take some profits when offered to keep your account ticking over or you risk running out of runway. Regarding your point on wave recognition, it is a problem but it is the same for everyone, professional and retail alike. It is called price discovery, the market participants watch the evolution of price and take into account other factors (like fundamentals) and create a premise. Then they test this premise by placing a trade. This is simply how it works. In terms of my specific comment, I really don't care at this point whether US large caps have just made a wave B or a wave 2 as the next wave in either case (C and 3 respectively) will be in the same direction, which is up. I will assess the price action as the move develops and make decisions about when to cash and when to reverse later based on my analysis. Deciding when to cash is where you want to be, not that it is much easier than anything else in trading... EWT note: an A-B-C can look very similar to a 1-2-3 (or 5) so context is critical.

This was released via RNS this morning. Argo Blockchain PLC Argo Mining Capacity Significantly Expanded https://www.investegate.co.uk/argo-blockchain-plc--arb-/rns/argo-mining-capacity-significantly-expanded/201907040700054359E/ Even if you think this company is a pile of junk which it could be then go with the price action and momentum. Sometimes the most rubbish companies on AIM deliver some of the best short term returns based purely on hype, spin and momentum. Now only the end of year accounts will show how much turnover this company is generating and how much profits it is creating. That will judge whether this company is hot air, junk, garbage or a company with high risk potential for significant revenue increase and substantial profit potential.

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.....

a bigger picture ...

@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.

Any trader using their signals should trade their signals on demo for at least a month or two , to see if they suitable for them.I look at their signals , to see if I can learn anything from them. It may help others see different view. Why are they not providing medium term signals, which are supposedly more profitable? .I have not seen any in last 2 days.There 22 intraday signals today, but no medium term signals.

I think we're just not doing it right. Back to my old tricks on the Demo. All less that £1000 margin. Stop at Support or £50-£100. Never let it go Full Stop. Loads to be had on Autolus today. Could have cleared my Losses. Searched thru the Market for Gappers of 5% or more. Got the chart up. Got in, got out. Why can't I do this Live????

Is anyone else having the same problem. All my charts have frozen and they are all stating "market is not currently open to trade" just above the Place Deal button

Gavin, the share trading platform still uses the old Flash based system.

When gold moon?