Caseynotes
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Posts posted by Caseynotes
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2 hours ago, tehka said:
Hi, I am a new trader. Hope to learn from so many smart people here. I have traded shares before but I have to admit the wide range of CFD products in IG.com is really huge and overwhelming. Please can you teach me how to become rich and successful like you?
Hi, take a look at the IG Academy and the DailyFX University
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2 hours ago, tehka said:
What products are available for weekend trading? I see that Bitcoin and Etherium is still moving on Saturdays and Sundays
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5 hours ago, bigD83 said:
im looking to try and find stocks that have high volume pre market...im struggling to find any options that can scan for this ive tried IG commsec and trading view with no luck. can anyone help?
Hi, not sure about the volume but there have been a number of web based scanners discussed on the forum you might want to take a look at, just enter scanners or screeners in the forum search box.
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LOL brilliant, I absolutely love this game;
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9 minutes ago, Foxy said:
I get that, but it shouldn't have filled so soon under the circumstances especially so close to the ATH and if so it should have rallied as soon as the gap filled, we will see soon enough but I think this could turn out to be a reversal. 👿
Always a possibility, the daily has taken on a nice twin reversal pattern look about it, this last hour of play should be telling before the US market close.
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12 minutes ago, Foxy said:
26640 is under pressure now and 26520 could be next, but not what you would expect after Trumps U Turn at weekend. The FTSE & The DAX held on as long as they could before they followed The DOW down, clearly not expected. 👿
It was the US open that did it and if you look at the Sunday 1 hour bar as a weekend gap then what we are seeing now since the US open is a gap fill, interesting.
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23 minutes ago, Foxy said:Any idea why the Dow failed to tag the ATH today? unless we get a late rally today I'm thinking this looks pretty bad, any ideas? 👿
I see the S&P has fallen away too after setting a new ATH and the US manu PMI figure this afternoon was ok and no other big news that I've seen so the move up turned out to be a test of resistance which was confirmed and price is now is looking to test support. It may find it around here at 26640, if not will need to look lower at around 26520.
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After the surge this morning both back down towards the pivot and dropping below in Dow's case.
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Backs away from 60, no major news out of the OPEC meeting today though seems unlikely to be any changes to production numbers.
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A round trip for Gold today after this mornings post, down to retest support at 1381 then back up to retest resistance around 1396 and now down at 1390.
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S&P sets a new all time high, Dow struggling a bit and getting left behind today.
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11 minutes ago, dmedin said:
Wasn't one of my best ideas! I got stopped out today. Will still keep an eye on it and see where it goes from here. It still seems to be in a downtrend.
Not sure what your trigger for entry was but at a glance it looks like a case of getting in late. This can happen when you are trying to look at too many charts and keen to get a trade on.
Always spot where the First Trouble Area is and check it's not so close to the entry point that you have no lee way if things go wrong and you run straight into another pullback. The prior low for a short is the FTA and if the reversal to continue the trend entry has been missed then as price passes the FTA is a second opportunity to get in short (a breakout entry).
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Free Kindle version book (next 3 days only);
Trading: Technical Analysis Masterclass: Master the financial markets Kindle Edition
by Rolf Schlotmann (Author), Moritz Czubatinski (Author)
https://www.amazon.co.uk/dp/B07NVDSW8Y
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9 minutes ago, Turnip230248 said:
Here you go Casey.
Thanks, but without reading the whole thread is the trigger the Awesome zero crossover (if everything is lined up)?
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1 minute ago, Turnip230248 said:
AMP has parent company in USA.
See bottom of page:
But the Europe branch is based in Cyprus and comes under the Cyprus regulator which though may have improved just lately have a terrible reputation for protecting clients. It was only a few years ago Chinese clients hired a plane to go to Cyprus to demonstrate on mass outside the Cysec offices.
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4 minutes ago, Turnip230248 said:
Itchimoku still goes well -not every trade wins but enough to keep dry bread and water at bay.
I've forgotten what it is you were using as a trigger for entry?
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6 minutes ago, Turnip230248 said:
Here you go - AMP brokerage ( USA) has an EU branch:
Micro Futures -to get your feet wet 🙂
https://www.ampglobal.com/exchange_traded_futures/margins_requirements.html
Hmmm, Cyprus registered broker and USD account, think I'm ok as is thanks.
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BTC finds support at 10600 and recent resistance at 11173. Key support is 10281.
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US Oil looks set to breakout up past 60.
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Both Dax and Dow push up on the London open, Dax has R1 just ahead at 12650 while Dow has the weekly chart resistance level at 26909 and the monthly chart (and R1) resistance at 26951.
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58 minutes ago, Dunn said:
Sorry I can't find it, I must be going crazy. However I did find you replied to someone "I gave up on breakouts a long time ago, i got trapped too many times"
So are there any exceptions to your rule of always wait for the first pullback?
Currently what I do is buy the breakout, but set my stop loss wide enough not to be caught out by any traps. That way I don't miss the initial beginning of the trend in the case of a late pull back, but of course the downside to that is I get a worse entry price.
I see a difference between patterns and S/R, PP levels, patterns are less trustworthy and I would normally wait for a pullback/retest, there will always be a pullback sometime. Levels I am more confident with, pivot levels especially if the asset has a history of recognising them, straight S/R levels need more consideration because they are not as easy to draw as many think and are more a zone than a level, and same as patterns there will always be a pullback at sometime.
I prefer to see an explosive type break out which usually signals increased volume rather than gradual because it's another sign the level has been recognised and the PA is not just wandering in a zone. The more energetic the breakout also signals to the opposition that if they are going to try to defend they had better use large size.
Take a look at the Wyckoff diagrams in this thread and the difference between low and high volume breakouts plus see the first retests post breakout.
In the end it comes down to the probabilities of the particular way you play it, if someone is routinely getting trapped trying to catch breakouts the fallback is to wait for the inevitable pullback instead.
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On 29/06/2019 at 18:00, Caseynotes said:
Good question @davidbrister, you would have to expect that this being 'new' news not available to the markets before Friday close would shift sentiment away from risk off and towards risk on. If that proves to be the case you could also expect to see the normal associated market shifts such as indices, stocks, oil up and gold, bonds and USD down. The Weekend Wall Street chart is up 111 points on the news. Might not get much reaction from oil as OPEC have their price setting meeting on Monday and Tuesday so oil traders will be cautious but gold we may well see a move lower to test support and 1400 would seem a likely first port of call.
So blew straight through 1400 and brought to a halt further down at 1383, thought about an attempt at the gap fill but looks now like preferring a second look at 1383.
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5 minutes ago, Dunn said:
Thanks for your reply, see you and trendfollower are very active helping people. I saw the advice you gave earlier in this thread about the post-mortem analysis where you saw that his long trades were on the whole profitable, and his short trades were not due to the trend/momentum on the longer time frames. That's good advice, it took me almost a year to work that out myself!
I also saw you talking about break outs from the consolidation rectangle, you said you should treat sharp explosive breakouts differently from gradual breakouts. Can you expand on that please? My trading strategy is a breakout/trend following strategy so this is important for me. I can see sometimes it pulls back early, in which case waiting for the pullback would be good, but other times it just shoots up and the pull back happens much later, in which case it would've been better off not waiting for the pullback
Hi, I can expand but could you just quote the bit about the breakouts you are referring back to me, just so I don't trip myself up over the context.
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Dax and Dow made the effort to check the pivot then decided to crack on towards a test of the Sunday candle high. The European open might be a bit more lively than usual with so much premarket PA but overall looking for a directional day.
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in IG Technical Support - Platform and App Help
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