Caseynotes

Hi @Gaffer142, the (£) symbol shouldn't be the problem as it is present on all assets and no one has identified it as a problem for EAs before. I presume it identifies your account's base currency. see pic below.

Good point @Foxy

Hi @scuttsy, yes, unless you yourself close the position it will automatically be rolled over, so closed and re-opened, so you repay the spread though at a discounted rate.

Fair enough but the main thing is you have a simple strategy that you can practice over and over til you are good at it, like 'buy the failed dip' (sell the failed rally) which is the most common strategy going and has nothing to do with indicators and patterns.

The answer is not in TA or patterns. This is an interesting post pertinent to this thread. http://www.newtraderu.com/2019/06/12/how-to-overcome-the-need-to-win-everytime/

ok, try this one then;

Not for the novice perhaps but what's wrong with ftse? 🙂

The gold silver ratio is now over 90. IG discuss the ratio and how to trade gold and the GoldSilver gap: VIDEO:

The long term is bullish, the medium term is neutral and the short term is bearish. Currently S1 is holding up quite well but you can see from the chart that volume triples on the US open. So early on we are either going to see a push to the pivot (26090) or to S2 (25842), the latter has the higher probability but it really could go either way.

That's what made me laugh in the first place but the first 40 days is a tight fit, god knows why he thought of doing it at all, it must be some weird new cult TA technique that when adopted by the many will become a self fulfilling prophesy (like most of the others), don't forget you saw it here first 😉

Something of an up and down tennis match the Dax this morning, very balanced and unable to find traction in either direction. H1 Chart;

Anyone signed up for this yet? By an amazing coincidence the company TeamFX managed to get 3 puff pieces in the papers (Metro, Sun and Daily Mail) concentrating on the star trader Dan Legg who apparently made illons trading on a shoestring in a matter of days. These cons come round every 3 years or so where the gullible journo is shown some unbelievable trading statements, hired cars and a hired private jet, you only need these for an hour or two for the photo shoot. How this works, no sure about this one specifically but in general the star always has a service to sell, it might be signals at 2k a month (20k for life time sign up) or hands you over to a dodgy broker (for a backhander) or perhaps some very expensive mentoring, trading rooms etc. With exposure like this there will be thousands queuing up to be relieved of their money. Often these front guys have backers, I seen one promo where the guy puts a bank card into a cash machine to show his 200k balance, a bright spark zoomed in on the card and it had someone else's name on it. Sometimes they are just lone chancers, I saw one promo where the guy goes off to get the keys to show off his new super car and can be heard in the background asking his mum for dad's car keys 😂 These guys are always on instagram where you can delete any negative feed back to your posts and of course with the money rolling in you don't actually need to risk it trading. https://www.dailymail.co.uk/news/article-7123357/Online-trader-goes-level-failure-teenage-millionaire.html Didn't actually read this but just noticed in the bullet points he only charges a thousand pounds so that's all right then 😉

I saw this from Crypto_Lord yesterday that made me laugh at first, then scratch my head ... (3 months).

Could be @backwardation, I've seen similar reports in a few places over the last few days and indeed Govts do go on spending sprees esp China, India and Russia but that's probably past as usually they buy at the low rather than the high ie they're smarter than Gordon Brown who sells at the low ☹️

@backwardation, good point about oil and S&P being out of sync though there are always going to be adjustments especially on the lesser time frames, also interesting is that gold isn't playing ball at the moment either as it heads higher. Money is being shifted around on a continual basis it's not always easy to keep track of it, the more eyes out the better.

Hi @backwardation, not really seeing a case for a H&S pattern as the overall price action would need to be heading into it from below not above, there is a case for an inverse H&S if we get a turn around and a break of the neckline. Yes, Oil is a bit out of step with the S&P at the mo, see weekly chart comparison second down.

Both look to have found support at S! and are heading back towards the pivot. M15 chart;

Dax and Dow rejecting the pivot overnight and looking for support this morning. Dow is currently at the recent low 26000 which may provide support, below that is S1 at 25944. Dax has a recent low at 12075 close to S1. The European open may show direction or may need to wait for the London open at 8am.

Another day of indecision for Dow, not able to push on but not pulling back yet either. Times like these usually bring out the doomsters to tell us Armageddon is coming and who knows, one day they might actually be right, but I wouldn't bet on it. You hear lots of talk about national debt and the abandonment of the gold standard and the Bretton Woods agreement etc but they are all forgetting the list of rules drawn up in the 1930's that still hold true to this day, especially Rule 11 (see below).

Just backing away from the top of the range 8062 but still within striking distance. Currently at 7940. H4 chart;

US Oil continues down towards support at 50.69. US inventories today at 3:30. Current price 52.48. Daily chart;

Big rally up for gold overnight, now looking at having another attempt at the monthly chart resistance level 1346 (purple), currently 1332.

Hi @TnlVision, couldn't say really except that, as you say all the others do it, so I guess IG would be at a disadvantage if they didn't.

After the US open Dax slides back to R1 and looks to have found support while Dow tries to bounce up off S1 after falling back having tagged the above mentioned 26250. H1 charts;

Dax waiting midway between R2 & R3 while Dow hauls itself up towards 26250 the recent high, US open in half an hour.