Caseynotes

Ftse getting a boost as GBPUSD sinks lower as traders see a WTO deal Brexit increasingly likely. H4 charts;

the trend is your friend til the bend at the end, but a trendline is different, it's usually asking too much which is why they need to be constantly re-drawn, that and the lack of accuracy on different time frames mean they are very problematic to use for setting limit orders to. I wouldn't say never use them because sometimes they are obviously the popular method of choice for that particular instrument at that particular time but check alternatives as they might be a better fit such as horizontal S/Rs or dynamic S/R such as a particular MA.

A few comments on the importance of execution.

yes, loads of times, not a great fan myself. They are never as strong as horizontal lines, they usually need to be re-drawn on a daily basis, by the time you have 3+ touches everyone can see them and the big players are looking at setting traps and they don't hold their drawing accuracy well through the different time frames on any platform.

Sounds a reasonable summing up, FOMC this Wednesday and Powell unlikely to do the unexpected, don't think too much is expected from the US/China trade talks this week and NFP Friday, July's data doesn't usually throw up big surprises.

Gold trapped between 1413 and 1424. H4 Chart;

To replicate the live it's a case of shifting the position size by one decimal place on demo, so for your example on the IG demo trade it would be; 0.00328 x 4.0 = 0.013120, shifted 4 decimal places = £131.20 instead of; 0.00328 x 0.4 = 0.0013120, shifted 4 decimal places = £13.12

Names to look out for this week, Apple the big one on Tuesday after close, look out for Shopify on Thursday before US open mentioned in the Something Interesting thread.

BTC retests the weekly chart support level 9061 and gets a strong bounce sending it back above daily chart resistance 9496, currently retesting 9496 from the top side. H4 chart;

Both have shifted under the Pivot this morning, Dow currently trying to bounce up off S1. Bulls will be looking to capture the Pivot then test Friday's highs while the Bears will be trying for a test of Thursday's lows. Starting holiday season this week so may see calmer markets this month though there will be US/China news this week and NFP on Friday..

Dow Friday's bar was an inside pause signalling uncertainty, could see next a check of support just below at 27061 or a move towards that ATH resistance level that held all last week 27400, others to follow direction.

Overnight indices down Oil down, USD, Bonds and Gold up. Chart Alphabet up nearly 10%. Not much on today's calendar.

Hi, yes, this is what the guaranteed stop was introduced to counter (slippage risk), I've not used it myself but have not seen anyone complain that it did not work as required.

Hi, you are correct, the IG demo account only shifts the resulting calculation 4 decimal places instead of 5 but when you switch to a live account it will shift 5 decimal places as does your other broker. I'm not sure why they do this. From your posted trade history; IG/ 1.13538 - 1.13210 = 0.00328 x 0.4 = 0.0013120, shifted 4 decimal places = £13.12 (shifted 5 decimal places = £131.20) Other Broker/ 1.13583 - 1.13215 = 0.00368 x 0.28 = 0.0010304, shifted 5 decimal places = £103.04

Been an interesting week for the indices and a slight divergence has developed between Dow and the S&P that's worth taking a closer look at. The big news over the last week was the big US company's quarterly earnings releases which for the most part were good but a couple of big misses really hit because of the price-weighted Dow. Boeing saw a slump on the back of the 737 MAX crash and subsequent groundings and Caterpillar retreated due to slowing orders from the US shale oil fields. Boeing was down 2.8% and as it has a 9% weighting cost the index 70 points. Caterpillar's 4.5% decline (3.3% Dow weighting) cost the index more than 40 points. So looking at the Dow chart below and comparing it to the S&P chart above we see the Dow consolidating at the highs while the S&P drives on, both obviously bullish though. More earnings out next week and 2 on Tuesday (after market close) to watch out for are AMD and Apple, both on Nasdaq. Another interesting feature when markets reach their highs is that the retail crowd always goes short, been watching it for years, they never seem to learn. Novice traders always seem to think that the objective is to pick major turning points on a chart and they always get stung. The real objective to pick points for continuation, let the big players decide when it's time to turn and follow. As in the chart a couple of posts above this is the 12th ATH this year (over 100 times in the last 5 years) but each time you are guaranteed to see this positioning by retail clients, and over a hundred times in the last 5 years they've been wrong.

Big pump down in the last 15 minutes to test daily chart support level 9496. H4 chart;

End of day Indices Bonds and USD up, Oil and BTC down. Chart US fang up 2%.

Bull drive into all time highs going into the weekend sure sign of big money strength and confidence, you should have been the buying the dips not shorting the highs ..., for the last three and a half years actually. S&P daily.

Very good 25 min video from SMB Capital on how stock selection is just as important as the trade set up. Workshop on how to improve trading by upping stock selection. SMB Capital Published on Jul 25, 2019

Shopify inc could be ready to break out, had a great year so far.

ok, so as in the pic above from the other poster, to exit the position I don't think it matters if it's a limit or stop because it can only cancel the position if it's a sell order for the total number of shares. So for the pic below if you have 300 shares and you want to sell them at a certain level to act as a stop loss it would be sell + quantity, limit day and the stop loss level. Maybe @JamesIG can check this for us. ps, I just use the windows 'snipping tool' to crop, copy and paste pics.

Bit dull today after yesterday but US GDP Q2 came in a beat at 2.1% (annulised), Dow hovering just above the pivot and Dax just below, all very cautious so far with the US market open coming up. For the last few weeks US traders were happy to drive price up right into the close but not looking so brave today.

I think the real snag was she was always a remainer and was more interested in the type of brexit where we actually stayed in, the Tories were caught in the headlights of the oncoming bus that was Farage's Brexit party which was going to take a big slice out of both the Tories and Labour if nothing changed.

the pic didn't come out but I'm presuming you have the sell stop but not the GTC which is not offered on some exchanges so needs to reset daily. Some brokers will do this automatically for you and is another function expected on the upgrade.

hi, the share dealing platform is awaiting an upgrade to match the cfd platform and will incorporate a stop loss function though remember a stop loss is just an equal and opposite stop order to the original trade entry order, see top answer on this thread below on how to set a stop loss and limit order for the share dealing platform.