Caseynotes
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Everything posted by Caseynotes
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Non-farm Payrolls - What is it and what can we expect today?
Caseynotes replied to a topic in Foreign Exchange (FX)
It's all about what affect the numbers will have on rate cut (or hike) probabilities, currently running at 100% for a cut this month, but probably the most important number this round is going to be average hourly earnings, see below. (the consensus nfp number depends on who you have included, most polls are saying 160k).
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_20190705_11_09.thumb.png.f4a2f16268d3610f5915a89e4f0f7629.png)
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Hi @Igi, I'm not using DMA myself but just to check the basics, the DMA is a separate platform download from IG and not part of the web based platform. You should see at close or at open order types from the DMA deal ticket dropdown box, see pic. You can download the DMA platform and the User Manual from this IG page; https://www.ig.com/uk/l2-trading-platform
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TA - Technical Analysis
Caseynotes replied to Caseynotes's topic in General Trading Strategy Discussion
Guide to trend continuation patterns. https://www.tradeciety.com/the-only-trend-continuation-patterns-we-need-to-know/
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Dax just moving up to the pivot for the European market open, shortened S/R levels from yesterday's lack of movement. The Dow R1 is the one to watch (yesterday's high), a break there should lead to further gains.
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Gold ranging between 1410 and 1424 while waiting for some inducement to head of in either direction, strong resistance just overhead at 1437. H4 chart;,
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56 support holding for now but something of a triangle come bear pennant forming on the H4 chart;
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As noted yesterday price did follow momentum down, support found at 10955 with recent resistance at 11246.
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No change pause day yesterday, Dow sits atop the monthly resistance level (purple). Something to note is that the last 2 Fridays saw prices ramp up into the close, the same thing happened just prior to the US bank holiday yesterday, what that is saying is that strong hands have every confidence price will hold up. A good jobs report today should see further market gains.
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USD Gold up Asian markets up Bonds up, Oil flat Crytos down, BTC down 4.5% chart. US NFP today 1:30pm 160k expected, Wednesday's ADP nfp saw a miss, 102k vs 140 expected.
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Very lethargic today, any markets moving out there?
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https://www.ig.com/uk/news-and-trade-ideas/shares-news/ocado-share-price--what-to-expect-from-first-half-results-190703?CHID=9
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The conversion rate is multiplied by the PnL amount. So for Dax -201.6 x the conversion rate = -227.3
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Ok , can you screen shot an example?
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Hi, the 'commission' you refer to is likely to be the spread. The 'entry' level for a long is the buy price but the 'close' level for the long is the sell price.
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On the 6 month review IG's losing retail traders drops from 76% to 74% but FXCM are claiming 73.62%, perhaps we need an industry standard 😅
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The 2, 5 and 10 year treasuries on the dashboard don't look too bad. See this article http://openmarkets.cmegroup.com/15251/will-the-fed-cut-rates-in-july-six-key-dates-to-watch on up coming key data release dates that will help the Fed decide on possible/probable rate cuts this month.
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Recent support at 11601 with resistance at 12033 which is the bottom edge of a key resistance zone. Waning momentum suggests time for a move lower unless the bulls can rally.
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Similar to Gold, US Oil is settling into a range 56.08 to 57.60, currently mid down leg at 56.74. H4 chart;
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Gold @ 1414 close to support at 1411 in recent range, range top is 1421. H1 chart;
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Dow perched on the prior ATH and monthly resistance level 26951. Expecting a continuation blue day, may see a recheck of the pivots early on but will be looking for resistance level targets so long as price can stay above the pivot.
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Ftse continues it's strong run past it's monthly chart resistance, Dow into it's all time high and Dax pushes higher past it's weekly chart resistance. Daily charts;
_20190705_11_09.png.07f4dfaa4cb4961f088fa5263a9d2964.png)
