Caseynotes

Oil and Bonds down Gold up, Indices up BTC up, Chicago Wheat up 2.2% on bounce - chart. US bank holiday, EU retail sales.

Because everyone's gone home, it the 4th of July ish. 🤸‍♀️

Can't really see what you are doing but the losses are too high compared to the profits which means you need better control of the risk/reward. Also need clear lower low and then a turnover of a pullback to make a clear lower high, some of those in your pic don't look too clear. So from the pic in the fools thread if playing the pullback entry the stop goes just behind the candle reversal pattern, if playing the breakout entry put the stop just behind the breakout level. So price either just takes off in your favour or you're out for a very small loss.

Dow looking to drive into it's all time high 26951 as it cruises though R2. H1 chart;

S&P closing in on 3000.00

Thought you were going to spend some time re-educating yourself 😮

It won't be exactly the same no, because you will be different. Start live using the smallest bet size available with the view of sizing up as confidence grows.

Useful guide covering the basics of a wide range of charting topics using text, diagrams and videos; https://www.tradingwithrayner.com/price-action-trading/

To catch up with these two, in this mornings post we saw both were above the daily pivot so as stated above we were looking at Resistance targets above (R1 & R2), price rechecked the pivot before setting off, Dax pushed straight through R1, had a bit of difficulty at R2 and fell back after getting half way to R3. Dow rechecked the pivot and set off to tag R1 but has gone no further. US traders will be reluctant to get in too deep and it's generally a half day today with the US public holiday tomorrow so not expect too much this afternoon.

Certainly the more people who request log scale the more likely it is to be incorporated and it's also better when using the forum to tag someone who would be able to carry that request forward, which was the main reason for my post.

ASIC very much in the footsteps of ESMA. "Hi Peter, my understanding is that distribution and design relate to companies adequately discerning between different target markets in relation to their products. They have to take proactive measures to remain compliant in different jurisdictions, determine suitable investors, etc. Leverage cuts and product bans are already in ASIC’s hands now."

HI, the platform is still relatively new and additional features are being added regularly, the addition of the percentage scale was one such. Perhaps @JamesIG could add your request to the 'to do' list if it's not already on it.

I'm presuming this is just out today as it's based on a report published on Monday. "The FCA considers these products are ill-suited to retail consumers who cannot reliably assess the value and risks of derivatives or ETNs that reference certain cryptoassets (crypto-derivatives). This is due to: inherent nature of the underlying assets, which have no reliable basis for valuation the prevalence of market abuse and financial crime in the secondary market for cryptoassets (eg cyber theft) extreme volatility in cryptoasset price movements, and inadequate understanding by retail consumers of cryptoassets and the lack of a clear investment need for investment products referencing them"

Awaiting details on this headline; LiveSquawk @LiveSquawk 10m FCA Proposes Ban On Crypto Derivatives To Retail Consumers $BTCUSD

Interesting podcast on the new EU top job appointees and what that will probably mean for the ECB and central banks, (less independence and more MMT and OMT) lining up with Trumps recent nominations for Fed positions and following Japan towards negative interest rates. Talks gold, yields, assets and more. Included in this thread because of the underlying MMT theme. 16 min.

Dax struggling at R2 as Dow tags and pulls back from R1. Dax M1 Dow H1 charts;

20 year seasonal averages point to rally ahead;

Both Dax and Dow have climbed above the pivot so looking to R1 R2 for targets on entries on the lower time frames though will be watching the 7am and 8am market opening times for any hint of reversal.

Finds support at 56 but it doesn't look strong, may try lower at 55. H4 chart;

Finds support within reach of the prior high. H1 chart;

BTC trying to break up through resistance again. H1 chart;

Current iodine shortage;

The disturbing higher than normal volatility out of hours continues, Ftse has pulled away higher, Dax and Dow still looking higher though not making headway. Nikkei tests support. H4 charts;

I see a triangle (or wedge or asymmetrical if you will) consolidation pattern in an uptrend.

Gold stopped at prior high 1440, Oil caught at 56. Asian indices down, Bonds up Crypto up. EU, UK and US PMIs and the ADP nfp this afternoon has had a good run recently at forewarning of Friday's NFP numbers, 140k expected.