Caseynotes

Good point, I've not looked for a while and the shorts are way down from where they were, you would of thought the last 4 weeks would have encouraged them to hold, but then that's why it can be read as a contrarian indicator.

After the check at the pivot dax moved on to tag R1, currently back to join dow mid way between pivot and R1 awaiting the US market open. May be a tame Friday afternoon and into US market close as it's a public holiday in the US on Monday as well as UK.

All blue though small gains;

58 holding;

TA books are all good, not much changes, here's a look at a H&S failure pattern from 1936 from Technical Analysis of Stocks Trends. Edwards and Magee.

Theresa will be downstairs to make her statement in a few minutes

@JamesIG, the knockout platform both live and demo is not working, see pic;

PM in a 9 am meeting and an announcement is expected immediately after.

A post from 2018, the text covers my observations while the link covers the opportunities for broker manipulation and malpractice of mirror trading.

It's a game but the stakes are high, it needs to be a slow and drawn out application of pressure. The number of big tech companies both in the US and EU that are falling into line and severing links to Huawei are growing exponentially, they announce on twitter on a daily basis. It's easy to forget China is a totalitarian regime, the government controls everything. CEO's of large companies go missing never to be seen again, the founder of Huawei owns just 1.5% of the stock, no one's sure but Chinese politicians seem to own the lions share. And this is the company that is taking control of the worlds 5G networks. Trump has been the only one willing to take the Chinese on.

Little change overnight. Included is an interesting article on Coinbase dropping their HFT initiative and uncovers the murkier side of crypto exchanges. https://medium.com/@patrick_tan_kt/high-speed-trading-for-bitcoin-just-hit-a-speed-bump-3113104f88ad

BTC's attempt to push lower yesterday was caught by support at 7460 and price has bounced since though that bounce now looks weak and there is hidden divergence showing on macd.

Both dax and dow have traveled back up to check the pivot and look to be trying an early break upward. The dow's open drive down yesterday on trade war concerns was compounded by lower than expected US PMI data later in the afternoon. Today will either see a retest of the lows or an attempt to bounce back up on thinking the sell off was overdone.

UK retail sales at 9:30 and US durable goods at 1:30. Strong bear day yesterday though only nikkei tested key support levels. Dow currently testing the underside of it's daily chart support level, dax doing the same and still within it's up channel. Ftse faces a day of political turmoil if reports prove correct, it seems that everyone wants to push May off the cliff but no one wants to be seen actually doing it, no one is expecting her to say 'I'm just going outside and I may be some time' 🙂

Beware of instagram, that's where the scammers currently congregate because on instagram you can delete unfavourable messages. I know some have benefited from a hiring a mentor for a couple of months, I'm unsure about signal providers (mirror trades) other than the majority are scammers (on instagram), there must be some good ones, I do know one with a good track record but it's only one trade every couple of weeks and the stops are massive. But it's a mine field out there, by agreeing to participate you have shown the money and there are many waiting to take it from you, your broker is the least of your worries.

As a new, learner trader one of the most important things you need to learn real quick is to be able to spot bs because there is a ton of it about, there always is when there is the perception of quick and easy money. If you can't spot it soon enough you will not only be stepping in it you will be swallowing it and in the misdirection your little account will be gone. Sometimes it's from scammers, sometimes it from fools who just want to look big, doesn't matter, if you are side tracked by it you are lost and that's another account gone. Here you've got someone trying to convince you that you can't be a successful trader if you spend time on social media or on forums, are you sure that sounds right? Wasn't it the case a few years back when a load of bank traders were up in court for whatever, that the main evidence against them was from their social media transcripts, they were on it all day every day. Twitter instagram stocktwits, it's constant, how can that be. It can be because once you've done your couple of hours prep in the morning the rest of the day you are sat waiting for price to come to you. But of course an amateur wouldn't know that.

Looks like 25214 might get retested but it's a strong level with multiple confirmations, 21750 is still a long way off and a number of support levels before then.

USD losing to the Yen after the tag and bounce down from 97.81 on the DXY. Risk off on the US open; indices, oil and usd down, gold and yen up. The dow seems to have regained some composure and trying to bounce back.

Oil tags the 58.00 level in 2 hours flat, it's all going risk off.

Dow open drive down to S3, markets have been pricing in the realisation there will be no resolution to the trade war any time soon and likely to get worse before it gets better.

US Oil threatening to drop below support at 60.00. Next level down is around 58.00.

BTC tried to break down through 7505 but since recovered somewhat, all red still.

Dow attempting to break back up through the daily chart support level (25555) broken this morning.

@TrendFollower, I repeat from my previous post you never read before responding to it, same stuff over and over again, you can't help yourself, I'd give it a few days before you start up on the same theme all over again for what must be the 20th time. Desperate.