MongiIG
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Posts posted by MongiIG
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How do I become a professional client?
You can apply to be categorised as a professional client by logging in to My IG and selecting ‘settings’ and then ‘client and account status’.
To qualify as professional, you need to meet certain criteria related to your trading history, investment portfolio, and/or your employment history.
You’ll need to meet two out of the following three criteria in order to qualify as a professional client:- Professional experience: You must have worked in the financial sector in a professional position (which requires knowledge of CFDs or spread betting) for at least one year.
- Investment portfolio: You are required to have a ‘financial instrument portfolio’ (defined as cash deposits and financial instruments) of €500,000 or more. Acceptable instruments include cash, stock portfolios, stocks and shares ISAs, trading accounts, mutual funds, and SIPPs. Managed company pensions, non-tradeable assets, property, luxury cars, or physical gold are not acceptable.
- Trading experience: You must have placed 40 trades of significant size in the last year. Significant size is £10,000 notional for equity trades and £50,000 for everything else. Buying £10 of FTSE and then closing it counts as one single trade. You do not need to have made the trades with IG.
All the best - MongiIG
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1 hour ago, Johncar said:
Movement in Anglo African Agriculture PLC could indicate a long awaited deal now on the horizon, a good time to buy while price is still cheep.
Hi @Johncar,
Anglo African Agriculture Shares Fall on Widened 1H Loss, Chairman Departure.
Shares in Anglo African Agriculture PLC dropped Friday after it reported a loss for the first half of the fiscal year and said Non-executive Chairman David Lenigas is stepping down.
Which long awaited deal are you referring to, the ones they are working on to merge with a Kenyan port and marine logistics company ?
Also at what price level are you looking to buy in ?
MongiIG
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Charting the Markets: 10 August
FTSE, DAX, and Dow regain ground after brief period of weakness at the start of the week. The euro is firmly on the back foot against the dollar, with GBP/USD also drifting lower. Gold and Brent crude both suffer heavy losses.
https://www.ig.com/uk/market-insight-articles/charting-the-markets--10-august-210810
Coinbase earnings: all about the price of cryptos
The recent cryptocurrencies rally has driven the price of crypto exchange company, Coinbase. While earnings are out after today's close on Wall Street, the main driver of COIN shares is the price of Bitcoin and, possibly, Ether.
This is here for you to catch up but if you have any ideas on markets or events you want us to relay to the TV team we’re more than happy to. -
5 minutes ago, Caseynotes said:
The most important question on climate change that needs answering is, ... who's going to tell China?
Yes, China was responsible for the highest percentage of global carbon emissions into the air 2019-2020. China did launch carbon market as it aims to reduce emissions. Can China find a market solution to its outsize carbon emissions ?
MongiIG
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49 minutes ago, Caseynotes said:
There is a major breakdown of the health service underway in this country that still has a long way to go and presumably in most other countries as well. The covid crisis is not going away anytime soon as this winter will see a majority of covid deaths of the vaccinated (predicted by SAGE around last April). The govt's only response is lockdowns, the very cause of the 13 odd million NHS waiting list and if not covid, or normal winter pressures, then it will be lockdowns to protect the NHS from the waiting lists caused by lockdowns.
Have never seen such despondency in healthcare workers ever before as they contemplate waiting lists that can never be cleared to anything like previous levels even over decades. Can't really shorten the time needed to train doctors before even starting on reducing wait times. Some are seriously suggesting drawing a line and starting again, one reason perhaps the govt is deliberately ignoring excess deaths at home, (non-covid, death by 'denial of health care').
Instead of addressing present problems the govt seems keen to start shifting attention away from covid and onto the next big money burning project 'climate change'. It would seem that all western govts are orchestrated and acting from the same playbook regardless of individual national concerns. Certainly driving through WEF digital IDs via vax passports in order to 'build back better' looks to be the over-riding priority and the destruction of the NHS seems to be a useful play to achieve this goal and making people compliant.
Certainly the supposed £37 billion spent on the 'test and trace' morphed to 'vax passports' would have been better spent on the NHS but no, the NHS needs to be seen to be suffering and it certainly will be this winter especially if these experimental vaccines throw up any more longer term trial surprises.
More than 115,000 healthcare workers have died worldwide due to Covid-19 as of May. That number should be higher by now.
Interesting you bring up climate change, Standard Chartered CEO Bill Winters said companies need to address climate change.
Climate change is becoming a pressing issue in the corporate sector, with a report from a UN-backed panel warning Monday that global warming is dangerously close to spiraling out of control.
Companies should not rely on governments to reach agreement at a global summit on climate change in Scotland in November, but rather take more action themselves, Standard Chartered CEO Bill Winters said on Tuesday, at an online industry event.
StanChart has said it aims to reach net zero carbon emissions from its operations by 2030 and have the companies it finances reach net zero carbon emissions by 2050.
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Gold and Brent crude rebound after yesterday’s sharp declines
Gold and Brent crude have both suffered heavy losses at the beginning of the week, but will the recovery continue to hold after initial gains?
Source: Bloomberg
Gold stabilizes after decline into key support
Gold has seen plenty of volatility at the start of this new week, with the capitulation seen yesterday bringing about a fresh rebound to close the gap.
Despite finding some stabilization since that collapse, we have seen price gradually wane yesterday. That bearish sentiment holds unless we see price rise up through the $1752 high established yesterday.
Until then, there is a good chance we see another turn lower from here, with a break below $1724 required to bring about a bearish continuation signal.
Source: ProRealTime
Brent crude starts to find buyers from Fibonacci support
Brent crude is on the rise following yesterday’s decline into the 76.4% Fibonacci support level at $67.60. A break back below the $67.06 - $67.60 support zone would certainly raise the likeliness of a more protracted pullback for Brent.
Until then, there is a good chance of us reversing higher from here. Greater confidence in that recovery comes with a rise up through the $72.29 swing-high.
Source: ProRealTime
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The Global Economy and Development Program at Brookings conducted a survey on multilateralism in the Spring of 2021 as part of a project on the future of global governance. This report summarizes and analyzes the results. Can download the full report on the link below.
https://www.brookings.edu/research/global-governance-after-covid-19/
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Hi @Caseynotes,
Covid-19 has ravaged the global Healthcare Workforce. We need to invest in their future. Investments in the health workforce need to return on a measurable scale. What are your thoughts on this ?
MongiIG
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21 hours ago, THT said:
You're asking the right questions
We don't know, we HAVE to step out in front of the bus and make a decision - this can be based on preference, technical info, fundamental info etc etc - People try to rationalise the direction - the one thing I would say is as of YET, the market has showed NO bearish signs, so the probability is firmly in the long camp, until we get bearish signals - for me that would be a trade BELOW the red swing low #3 low
The clues were on the Indicator at the 3 tops - I didn't short because I can't short that particular market inside the vehicle I use to trade it (my ISA and SIPP) So I'm forced by the limitations of the ETF I trade to trade long only
BUT, you're RIGHT - In an uptrend shorting might not amount to much and probably best avoided, as the swings down won't be that big
Of the ABC options available - A or B would be my preferred outlook to actually happen based the expectation of a breakout of a 4th Time Lucky but its not guaranteed as no trader has a 100% win record so option C could happen
As mentioned, I'm in the trade from the RED swing low #3, which allows me not to fret too much on having to make a decision and trade the breakout - the only reason i'm in that trade is due to the market position when it formed, I've seen it over and over and after making multiple R's over time risking 1R is a lot less mentally taxing that when you are starting out/new etc, I understand the reasons to hesitate
Look on the chart left from swing low #3 up to swing high #1 - if we reduced the % swing file size of the swings they would have picked up the sideways range to the left and in the middle of that swing, it was again another 4th Time Lucky set-up but on a smaller market swing - note what the market did on breakout etc
Once it broke out it rallied and pulled back into the range of the range and below the breakout level then rallied again - you just never know in advance what it will do, if the markets bullish it was go up higher, if it was bearish the prior low was being exceeded to the down side
You don't need to be trading long then short, you can still massively outperform the market by just trading long and banking profits along the way
The technical term for this sideways range is accumulation or distribution - the big players in the game are either adding or getting rid of positions causing the market to stall and stutter - they can and do play games like this
Hope makes sense
THT
Hi @THT, this is great. I like it. Just one question on the technical term for this sideways range is accumulation or distribution, would you be referring to The Wyckoff Method is applied here if you are aware of it ? Distribution and accumulation schematics (Wyckoff events and phases).
MongiIG
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22 hours ago, Marcraffard said:
NIO posting earnings on Wednesday.
With tickers 3LNI and 3SNI investors can express their convictions via GraniteShares ETP
Capital at risk. For professional investors only.Hi @Marcraffard, NIO’s share price had risen by close to 7% over the past week, ahead of its upcoming Q2 results this week. Can its Q2 results exceed expectations?
MongiIG
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FTSE 100, DAX and Dow turn higher after brief pullback
FTSE, DAX, and Dow start to regain ground after brief period of weakness seen at the start of the week.
Source: Bloomberg
FTSE 100 rallies back up into key resistance
The FTSE 100 has managed to reverse higher in the wake of a brief pullback on Monday morning, with the index rising back up into the 7143 resistance level in early trade.
That break up into resistance does heighten the chance of a bullish breakout from here, with the key 7151 level also coming into play above last week’s high.
With that in mind, the ability to break through this resistance zone will be key in determining whether we can maintain this bullish theme from here. A break below 7088 would be required to bring a more neutral/bearish tone.
Source: ProRealTime
DAX heads higher as we approach previous highs
The DAX has turned higher in early trade today, with yesterday’s pullback proving brief in nature thus far.
The 15816 record high provides us with a clear target and hurdle to overcome if we are to maintain this bullish trend. A break below the 15698 level would weaken this bullish outlook.
Source: ProRealTime
Dow Jones expected to break higher despite recent drift lower
The Dow has started the week on the back foot, with the index falling back into trendline support this morning.
The brief breakout seen on Friday brought about hope that we were set for another trending period after two weeks of consolidation. That may still be the case, yet we are seeing the index pullback first.
Thus, whether we head higher from this trendline or move into a deeper retracement, there is a good chance we will see the bulls come back into play before long. A break below 34761 would be required to negate this bullish outlook.
Source: ProRealTime
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Hi @Richard021977, the markets will be closed on weekends. Please kindly visit this link https://www.ig.com/uk/trading-strategies/us-stock-market-hours--when-do-the-nyse--nasdaq--dow-jones-and-s-200812 it shows the standard IG trading hours on All Sessions opening and closing times for US and UK markets.
All the best - MongiIG
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For more up to date news on how markets will open, the latest earnings and economic news, watch IGTV live in the platform at 07:30am UK.
Today’s coverage:
Indices: Markets drift as traders await evidence that a rise in covid cases will lead to further restrictions
Equities: COIN one of the big movers on increasing crypto prices – earnings later today. Other earnings to watch BWY IHG & ABDN
FX: USD holds gains as FOMC voting member Rosengren says Fed should announce taper plans in September. AUDUSD close to 9mth lows after drop in NAB biz conf
Commods: Precious metals fight back, but move is just a retracement at the moment. Oil little moved
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With Q2 earnings season continuing apace, Fresnillo, Uber, and Virgin Galactic provide us with potential trading opportunities.
Source: Bloomberg
This article looks at some of the big movers off the back of recent earnings announcements to try and find stocks that seem to provide a good trading opportunity.
Typically, earnings announcements and trading statements will drive a shift or enhancement of market sentiment. While many see earnings as a significant risk when holding a stock, placing trades in the wake of such events allows for greater confidence that all market knowledge has been factored into current prices.
Fresnillo
A 59% jump in interim profits did little to lift the Fresnillo share price, with the stock suffering another bout of losses towards the end of the week. The world’s largest silver producer saw increased output for both gold and silver, with the company on track to meet their targets by year-end.
Nonetheless, we have seen the stock hit hard over the course of the past year, with the share down 42% in around nine months. Meanwhile, silver prices are largely flat compared with that same November 2020 date. With price having pushed up through trendline and £8.28 resistance in the wake of those earnings, the subsequent pullback looks like a potential buying opportunity.
That being said, with the dollar dragging precious metals lower, we are clearly seeing that negative pressure come back into play. A break back below £7.42 would bring about a fresh sell signal. Until then, there is a good chance we could see the buyers come back in to reflect how the share price has got a little carried away compared with earnings and underlying precious metal pricing.
Source: ProRealTime
Virgin Galactic
The recent successful test flight did little to help Virgin Galactic, with the share price better resembling the glide back down to earth than the initial blast into space.
However, with the company reopening sales, upping prices, and posting a surprise positive revenue figure, it seems dreams are becoming reality.
The rise through $33.89 points towards a potential surge from here and another possible period of upside for the stock. With that in mind, a bullish outlook is back in play, with a break below $29.48 required to negate that bullish view.
Source: ProRealTime
Uber
Uber shares popped higher off the back of a second quarter (Q2) earnings report which beat on both the top and bottom line. They also predicted reaching profitability by the end of the year.
The subsequent rally saw the stock drive higher from the historical resistance level of $38.49. This raises the likeliness of a bullish breakout after a six-month period which saw 40% wiped off the company’s share price. That figure is now 30% given recent gains.
A rally up through the $48.16 swing-high and $48.95 Fibonacci resistance would bring a more reliable bullish signal into play. However, with the stock seemingly turning a corner towards profitability, there is a good chance this selloff has run its course.
Source: ProRealTime
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What to trade the week starting 9th August: US inflation data; Walt Disney Q3; eBay Q2; Deliveroo H1
IG’s senior market analyst, Josh Mahony, looks at a potential trade on Disney ahead of its earnings next week. Plus, US inflation data draws attention to the US dollar index.
This is here for you to catch up but if you have any ideas on markets or events you want us to relay to the TV team we’re more than happy to. -
Risk event of the week starting Monday 9 August: gold around US inflation
With the reflation trade still in view, Daily FX's Daniele Sabin Hathorn looks at an opportunity to increase exposure to gold. The big question is where it will find support T $1,800/oz. IGTV’s Jeremy Naylor looks at the chart.
This is here for you to catch up but if you have any ideas on markets or events you want us to relay to the TV team we’re more than happy to. -
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Dollar weakness likely to drive EUR/USD and GBP/USD strength, while USD/CAD heads lower
EUR/USD, and GBP/USD looking likely to gain ground after recent weakness, while USD/CAD heads lower once again.
Source: Bloomberg
EUR/USD declines towards Fibonacci support
EUR/USD has been on the back foot over the course of the week, with the break back below $1.185 on Wednesday giving way to further downside for the pair.
However, with the recent rally through $1.1881 bringing a higher high into play, there is a good chance that this period of downside represents a retracement before we head higher once again.
With that in mind, bullish positions are favoured unless the price drops back below $1.1754 support.
Source:ProRealTime
GBP/USD continued to build base after 76.4% pullback
GBP/USD has been taking its time building bullish momentum off the back of another retracement, with the pair respecting the 76.4% Fibonacci level over the course of the week.
The recent trend of higher lows does point towards a likely break higher before long. As such, a bullish view holds unless the price breaks below $1.3843 support.
Source: ProRealTime
USD/CAD rolling over from trendline and Fibonacci resistance
USD/CAD has seen a relatively volatile week, with the index reversing lower after a period of strength towards the beginning of the week.
That rise took us back into the confluence of trendline and Fibonacci resistance, with the recent bearish momentum coming back into play.
The key hurdle to overcome for bears comes in the form of the C$1.2425 low, with a break below that level required to bring a wider bearish picture into play. To the upside, a break through C$1.2605 would bring about a fresh bullish signal for the pair.
Source: ProRealTime
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Charting the Markets: 6 August
FTSE, DAX, and Dow likely to break higher, with recent consolidation expected to resolve upward. EUR/USD and GBP/USD likely to gain ground after recent weakness, while USD/CAD is lower. Gold and Brent, meanwhile, on the back foot.
https://www.ig.com/uk/market-insight-articles/charting-the-markets--6-august-210806
This is here for you to catch up but if you have any ideas on markets or events you want us to relay to the TV team we’re more than happy to. -
Gold and Brent crude expected to head higher despite recent declines
Gold and Brent crude have been on the back foot, yet the bulls are expected to kick in once again.
Source: Bloomberg
Gold declines into SMA and Fibonacci support
Gold has slipped back into the confluence of 76.4% Fibonacci and 200-SMA (simple moving average) support in the latter part of this week.
With the recent rally failing to overcome the $1834 swing-high, there is a chance we are simply looking at a range or potential double top formation coming into play.
However, this confluence of support is perhaps the final notable area of support in play if we are to establish another higher low. A bullish view holds unless price drops below $1790 support.
Source: ProRealTime
Brent crude selloff greeted by new buyers
Brent crude has started to regain ground after a deep retracement throughout the first half of the week. The wider uptrend does highlight the strong likeliness that we will ultimately resolve with another move higher.
With that in mind, whether or not we see another short-term move lower, a bullish view holds unless we break below $67.06.
Source: ProRealTime
See opportunity on a commodity?
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FTSE 100, DAX and Dow expected to resolve higher after consolidation phase
FTSE, DAX, and Dow likely to break higher before long, with recent consolidation expected to resolve upward.
Source: Bloomberg
FTSE 100 drifts back towards trendline support
The FTSE 100 looks to be moving back into trendline support this morning, with gains seen over the course of Thursday fading at the open.
Nonetheless, the intraday trend remains in play unless price breaks below 7050, with the index likely to push higher from either trendline or Fibonacci support (7072-7086).
Source: ProRealTime
DAX breaks resistance as we head towards record highs
The DAX has managed to exit its recent consolidation phase, with the push through 15707 pointing towards a likely rise into record highs around 15816.
The ability to break and hold above that level will be key in determining whether we continue immediately higher or post another retracement for the pair. However, a bullish view holds unless price falls below the latest intraday swing-low of 15661.
Source: ProRealTime
Dow Jones rallies back towards range resistance
The Dow managed to regain lost ground yesterday, with price rising back from the key 34761 support level.
This consolidation phase remains prominent unless broken, meaning that we are soon at risk of another decline back towards the lower boundary. Ultimately, the directional bias will be dictated by the ability to break through either 34761 (bearish) or 35175 (bullish).
Source: ProRealTime
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For more up to date news on how markets will open, the latest earnings and economic news, watch IGTV live in the platform at 07:30am UK.
Today’s coverage:
Team GBR slipped two places to 6th in Tokyo
Indices: FTSE250 & NDAQ new record highs. Europe expected to open up DAX closing in on a new record
FX: Watching USD claim more ground ahead of NFP data. EURGBP 4mth lows nearing 84.72 support.
Equities: BYND down 5.6% at 2mth low after Q2. SPCE rose 1% after its Q2 but on news of a price rise for tickets. Awaiting earnings from LSE HIK ALV. AMZN BLK & WFC delaying return to office because of a pick-up in Covid variants
Commods: Oil up on rising middle east tensions. Gold tests $1800 support level again
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7 hours ago, Milovan said:
Dear Madam or Sir,
Can you please inform me whether it is possible to change view of P&L from currency to % in IG app. For example instead of showing profit £2000 to show +10%?
I am looking forward to your reply.
Yours faithfully
M.
Hi @Milovan, thank you for your question. The IG App currently only shows running P&L as £ currency amount. We will be happy to push this idea to our developers to add the P&L % as well. I will pass this message to our developers team.
All the best - MongiIG
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3 hours ago, forexfactory said:
Is the a alert with a sound function?
Hi @forexfactory, yes there is a sound function for alerts. When you login on your My IG trading platform, select settings, under platform settings you will see alert sound effect, you can switch it on there. Please kindly see below highlighted in yellow.
All the best - MongiIG
IGTV on Demand
in General Trading Strategy Discussion
Posted
Market data to trade on Wednesday: eBay; AUD/USD and Deliveroo
The last few all-sessions stocks to produce earnings are still coming and on Wednesday it’s eBay's turn. Jeremy Naylor looks at that chart, as well as the vulnerable near-term support for AUD/USD, and H1 numbers for Deliveroo.
https://www.ig.com/uk/market-insight-articles/market-data-to-trade-on-wednesday--aud-usd--roo-and-ebay-210810