Caseynotes
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Posts posted by Caseynotes
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1 minute ago, nit2wynit said:
Yesterday was all about those two thing for me and I believe I succeeded, right up to the point where I knew I'd over traded, anticipated a reversal too early, chased it for 5 hours, only to lose it all in the morning. lol.
It's not unusual to watch a market pirouette around a level for hours on end before it suddenly takes off to a new level, actually that's how markets do work.
Contracts are being traded back and forth for long periods of time at the same level because the price is right.
It's the times of imbalance that you see movement and those are the times you are trying to capitalise on but you need to wait for them, they won't be forced.
That's why breakouts and pullback based strategies are really all you have, the ones that can be used between levels. Trying to call the tops and bottoms is the main reason novice traders don't make it, proven time and time again. It can be done but it needs a whole set of different skills and an awful lot of experience.
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5 minutes ago, nit2wynit said:
Thanks. I see. So I need to find more info on what All Sessions actually means then.
Not sure the below is quite correct as I'm sure I've seen some all sessions markets open pre-market at 12pm on sb/cfd but otherwise they should all be the same as per below.
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8 minutes ago, nit2wynit said:
Yep. all that yesterday.
Gave back ALL profit this morning from yesterday.
i was in at the top but for the sake of £5 extra as a Stop I got Stopped out at the top. Missed out on the overnight decent. Then lost the rest at the 8am opening.
Everything I know I shouldn't do, I did.the two most important attributes to develop and enhance are patience and discipline.
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1 minute ago, nit2wynit said:
Thanks. Is this info readily visible on other platforms? PRT for instance, without have to click thru several links each time i want to trade.?
The asset should say (All Sessions) next to it's name meaning extended hours trading applies.
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Daily pivots a bit stretched after yesterday's extended move up, not unusual to see a check of the pivot point first thing but may cut short the attempt and look for resistance early on.
edit; note the ATH just ahead for the Dow.
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US Oil retested 57.43 and holding just below overnight. May try to break higher if US indices go up.
H4;
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Gold supported at 1415 and now looking for resistance which was last found at 1429.
H4;
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BTC puts in a H4 pause at 9669, below is the daily support level 9061.
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What to expect, well you should always expect a directional candle to be followed by a directional continuation candle, does that always happen, no, it just usually does.
There is a limit to what can be,
a directional candle can only be followed by a directional continuation candle, an inside pause candle or a reversal candle.
An inside pause candle can only be followed by a directional continuation or a reversal candle (ignore a double pause).
A reversal candle can only be followed by a directional continuation or an inside pause candle.
Probability always favours continuation, if you are always expecting a reversal then you are just plain mad 🙂
Dow arrives back at the ATH by way of a series of directional continuation candles.
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Overnight and Indices up. Gold, Oil up, Bonds, USD flat and Crypto down. Chart Barclays.
PMIs - Ger 8:30, EU 9:00, US 2:45pm.
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7 hours ago, oldpos said:
I am new to IG. Is that a holding charge on all accounts?
Hi, the inactivity fee (custody fee) only applies to share dealing accounts.
see this page 'other fees' with additional note 2 below.
https://www.ig.com/uk/investments/share-dealing/costs-fees
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6 hours ago, nit2wynit said:
Hi, sorry. Maybe I'm stupid, Ignorant or both. The ticket for 'Snap Inc' says 14.30 to 21.00 UK.
It's still going at 23.45pm. I thought it was going to close at 9pm UK, but it shot up 157pts instead; like I was expecting it to do (not the amount, but the spike)
What do I need to do to ensure I know Trading hours for each Instrument? ThanksHi, see this page, look under NYSE
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5 hours ago, phihelp said:
Starting to trade on IG, but I do all my charting on trading view.
Can't seem to find the data market on trading view for what IG runs on?Hi IG use their own data for charts whereas Tradingview use Oanda's charting data.
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Dow spikes up to Friday's high on news US trade delegation travelling to Shanghai next week.
H1 chart;
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8 minutes ago, nit2wynit said:
An insight since you asked is as I've mentioned before. Somehow I've developed a desire for Reversals. If i believe an R is coming, I'll go short at the high point on an uptrend and take profit at the bottom is the R doesn't arrive.
Disappointingly I gave in at the top there at 12532; I've even marked it on the chart Went down Stairs to see it had dropped. Managed £5 on the way down.. Long Day.
buying the dip is playing reversals of sorts, just not on the primary trend but the secondary trend (the pullback), less risk and higher probability.
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1 minute ago, nit2wynit said:
Sorry, i meant 12pm. If you look at my trades I didn't see the G30 till about then.
yes, dax had already hit R3 by 12pm.
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10 minutes ago, nit2wynit said:
For what it's worth, if I'd gone Long at 11am on G30 I'd have made £20 quid to this point.
not sure why you say that, has climbed over 50 points since 11:30 and is still over 30 points higher now.
This is Ger30 M5 I posted on the Dax and Dow thread a just a short while ago.
edit: from 11am went up over 85 points
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1 minute ago, nit2wynit said:
I'm guessing it's no surprise to some of you how intrinsically linked the FTSE and German 30 appear to be? If Only I'd realised sooner
yes, that's one of the reasons I've been posting side by side charts every morning for the last year and a half 🙂
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6 minutes ago, nit2wynit said:
Christ on on a bike. that was a hard slog. Can't do that everyday. Slow moving Traffic. Anyone have any better luck?
Made about £50 Gave about £16 back, up £34. Happy but won't be doing it again in a hurry. 1 trade for the Day next time. The move is probably coming on either of these but I'm worn out now. Need to find a Pace. I've applied some of the much give advice from you all, but clearly still playing a short game. Back to my New Starting Balance last week.
Thanks again.
Not surprised it was a tough day, all the indices putting in a strong bull candle but just a quick tote sees you've shorted the indices 17 times and only longed 7 (as you say, a short game).
It this like resistance training or something, you know where you train to sprint by dragging a big weight behind you? just asking.
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Nice demonstration of price recognition of multi-time frame support and resistance levels and daily pivot points on today's M5 Dax chart.
Note that all these levels were pre-existing on this morning's chart and have been adhered to with remarkable precision throughout the day as Dax climbed through the ranks.
(For the MTF S/R levels see legend top of chart in Blue).
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US market open 10 min, Dax just dropping back to test R3 while Dow just under R2.
H1 charts;
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Interest rate change expectations;
ECB on Thursday, FOMC next week Wednesday, BoE next week Thursday.
ForexFlow @forexflowlive
36m
Interest rate expectation update:
-Jul #FOMC 25bp cut 84.5%, 50bp 15.5%.
-Jul #ECB 61.1% unch, 38.9% 10bp cut.
-Aug #BOE unch 97.4%, 2.6% 25bp cut
-Sep #BOC 90.2% unch, 9.8% 25bp cut
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48 minutes ago, dmedin said:
So, how far will Greggs drop?
Looks like the bulls are trying get a bounce up off the recent low after the gap down around 2416 which is a 50% retracement from that last impulse move, though by the last white volume candle they are having to fight for it.
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Dax & Dow
in Indices and Macro Events
Posted
Dax moving sideways maintaining a bull flag while waiting for Dow to decide on direction.
Dow putting in a weak volume H4 bear bar and just dropping below the pivot since the London open, the ATH immediately overhead acting as a barrier at the moment, may need to wait for the US open for the mist to clear.
Dax M5 and Dow H4 charts;
@nit2wynit