Caseynotes

Dow checking support, may find it at 26761. Dax following. M30 charts;

Repeating this warning over the weekend from FXPro to clients using MT4 on macOS. Not sure if same applies to IG's MT4 but I wouldn't want to be the first to find out. "The newest update for macOS – Catalina, introduced a compatibility issue that does not allow MetaTrader programs to function on the platform. We recommend our macOS-based users who wish to continue trading on their mac platform to postpone the update until a fix is available."

China exports to the US down over 10% in the last 9 months and the Chinese seem to be losing faith in the hope that delayed trade talks will see them negotiating with the democrats after the next US election. All sides report positive progress on the the most recent talks on Friday. Dow looking up to the all time high once more and Dax in sight of it's monthly chart resistance level. Hopes of a partial trade deal between UK and the EU seem to have fallen through so GBP and Ftse remain volatile. The S&P weekly chart couldn't be clearer and US economy remains strong, the only thing that's down is sentiment and that can change in an instant. Weekly global outlook summary from Topdown charts.

Remains neutral to risk on. Oil up Gold down Friday while Indices pushed up, Apple all time high (see chart). Indices pulled back at the end of the US session going into the long weekend. Bank holiday today for the US (Columbus Day) JPY and CAD.

Hi, on mt4 the line will transfer of you move up and down the time frames on the same chart but won't transfer the line onto a new chart of the same instrument (gbpusd), you will need to add the line manually for each new chart.

Found an interesting auto ABC pattern finder for mt4 so thought to add some content about ABC patterns and how to find them. The ABC pattern was originally described by H M Gartley in his book “Profits in the Stock Market" 1935. He also developed the AB=CD harmonic pattern and these both use Fibonacci numbers and ratios to produce a Potential Completion Zone target area. http://www.futuresmag.com/2016/11/29/trading-abc-patterns "Markets demonstrate repetitive patterns where prices oscillate between one set of price ratios and another making price projections possible. Market trends can be defined by geometric relationships as they exhibit harmonic relationships between the price and time swings. Many investors/traders use cycles and harmonic relationships to project future swing price/times. These harmonic price movements produce symmetric rallies and declines to give traders an advantage to determine the key turning points. Symmetry is visible in all markets and in all time frames." "The key point in identifying an ABC and AB=CD patterns is to correctly detect the A, B and C key inflection (pivot) points in a chart while they are forming. These inflection points are determined by key swing highs and lows of various levels, and its correction waves to determine distinct swings. The potential C point is usually forecasted by the fibonacci retracements (0.38 to 0.618) of AB Swing. Once A, B and C points (and AB, BC legs) are identified, a projection algorithm is applied to compute the Potential Completion Zone (PCZ). This PCZ area is where ABC pattern is expected to complete and may signal continuation of its trend in the first trend direction (AB). Following the completion of BC leg, the projections of AB and BC legs (using Fibonacci ratios) are plotted (from C) to generate targets. The ABC pattern is traded in the trend direction of AB from C to D." The top pic is the Dow M15 chart with the auto ABC indicator which uses the horizontal level at B to give an entry as price passes through. The lower pics are of a method using 2 candles after the turn at C as the entry and a slop loss behind C and multiple Fib targets based on AB length.

Hi, yes it's the institutional players who move the markets, hedge funds, banks, pension funds. In the FX market for example all retail only makes up 3.5% of the total traded while the largest player is a bank (citi if memory serves) which does 13% and the top 10 players control over 75% of the total market. The fundamentals drive the market, dictate direction and final targets for the big moves while the chart techinicals determine how price gets there. Indicators on the other hand attempt to foresee technical patterns on the charts by using past data and may or may not prove to be correct which is why they should never be used in isolation. As a retail trader you won't have the resources to predict the fundamental drivers (just guessing doesn't work in the long run) so should instead look to 'go with the flow', learn to read chart behaviour, patterns and find 2 or three indicators that source data differently and that when they converge have a good (as seen by testing) predictive probability.

FXPro have issued a warning that the new macOS Catalina update has a compatibility issue with MT4 and are advising not to install until a fix is issued. "The newest update for macOS – Catalina, introduced a compatibility issue that does not allow MetaTrader programs to function on the platform. We recommend our macOS-based users who wish to continue trading on their mac platform to postpone the update until a fix is available. In the meantime, affected users can continue to trade via MetaTrader Web. ((FXPro only not available with IG)) All clients who run MetaTrader on Windows platform are not affected and can continue trading without concern."

Hi, see this page on mt4 https://www.ig.com/uk/trading-platforms/metatrader-4/download-mt4 For meaning of terms use the search box at top of IG welcome page (see pic)

ok, so there are only FX Forwards on the SB platform (UK only) and not on the UK CFD platform which only has Forwards and Futures for indices and Commods, same as in Australia.

I have a feeling Oz only do indices and commod futures/forwards and not fx but may be wrong.

yes, for the mt4 platform on the mql5.com web site but you should consider volume profile over market profile. Both are similar in that they look at levels traded so provide dynamic intraday support and resistance levels but MP shows time spent at levels whereas VP shows volume traded levels. MP was more relevant when markets opened and closed but now brokers cover 24 hr VP seems to be more popular. VP on left MP on right;

Jesse Livermore’s Equity curve:

very useful and shows whats available via subscription services over and above your average broker platform. Can always go down the mt4 route where there are all sorts of interesting toys though not usually as professionally presented as this one in the vid.

not sure, I see my cfd demo doesn't list them but I don't have a cfd live account to check, also not sure if country you are in makes a difference. https://www.ig.com/uk/glossary-trading-terms/forward-contract-definition

HI, you can bring up the forward chart for gbpusd by clicking on the small arrow next to the chart title (see pic) and selecting 'Forward' (aka Futures). They are designed for holding open for the longer term, the spread is larger than for the daily funded bet (DFB, aka Spot or Cash) but there are no overnight funding charges, note the spread is repaid at each 'roll over' at the end of the term (check settings in your my IG page for auto roll over).

Dax tags R2 after a brief pause at R1 while Dow heads on to R1 after pushing through yesterday's high. M30 charts;.

Hi, see; https://www.ig.com/uk/options-trading https://www.ig.com/uk/options-trading/how-to-trade-options

Hi, if you are using the web based platform you will need to have 2 side by side charts with a bb on each.

Brian Watt short vid on the difference between bid/ask volume and Delta volume showing recent ES buying (S&P 500 E-mini Futures).

Dax takes off early this morning after a strong day for Dax, Dow and ASX yesterday. Ftse sullen as GBP takes off on Boris deal rumours. Dax and Dow looking to work higher today. I see the APAC brief is back, always worth a look see as to the world scene overnight. Daily charts;

Back to risk on as the trade talks circus rumbles on, yesterday saw Indices and Oil up, USD Gold and Bonds down. Talk that Boris is on the verge of some kind of partial free trade deal with the EU. Draghi speaks at 10:30, Cad unemployment data at 1:30 and US consumer sentiment at 3pm.

https://www.ig.com/uk/trading-platforms/prorealtime

Hi, only on IG's version of the ProRealTime platform.