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Caseynotes

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Everything posted by Caseynotes

  1. Just to follow up the last post, click View click Market watch right click on any pair click Specification. Look at Margin Currency In IG MT4 it is fixed on GDP but I think other versions maybe changeable? 
  2. I fired up the old MT Quattro myself a couple of weekends ago to test fire a couple new indicators I had downloaded, after not using it for some years it only took me a couple of hours to remember how to do the basics. Are you using the IG version MT4? Do you have pound symbols after the pair name? 
  3. Hi  volatility is certainly better than a flat lined chart though it is better if there is some direction to it rather than the violent reactionary swings every time an BoE MPC member makes a press statement. Still got Carney coming up at 1pm so get your coin ready for the toss. Also there is the potential for longs accumulated during the week being unwound for the weekend causing a dip in the afternoon.
  4. Thanks for that  GBP at the moment, a central banker speaks (Haldene) - pound instantly plunges 60 pip, and there is still Carney to go at 1:00pm BST. Volatility remains high.
  5. Yeah , I am pleased our 4 hour charts look so similar considering we arrived them from different perspectives, until a breach of either level my targets are restricted but a large range like this still gives good intraday opportunities.
  6. A spike can be a gap depending on how it is stamped. The Sunday (26th) opening gap is the key level for GBPUSD to to get behind it if there is to be a serious move up and in the middle of that is the prior high of 13540 which defines the current range with 12800/50 the bottom. Until a breach of either GBPUSD is in a large range. 
  7. Sorry  but we missed it (GBPUSD), price breached 13400 overnight then did indeed go on to retest the top of the spike as we discussed yesterday That's a good point about you make 'looking solid day to trade', it would have been if you knew the news in advance but if you look now you can see the indecision yesterday causing a drawn out symmetrical triangle and the break didn't actually come until the small hours. You need patience but sometimes even that is not enough.
  8. Hi  You don't mention if you have any experience. If you are an absolute beginner you should go to the babypips.com school course (free) then check out the IG education section tab in the IG home page, or go straight to the IG page if you are confident. If you have experience and are looking for a payment course to enroll I would say forget it and do lots of work on a demo account instead testing known strategies to find one that best suits you. Good luck.
  9. BoE's Market Carneyage and his 'forward guidance' have done it again. I was expecting extra volatility but wasn't quite expecting a 266 pip 20 second spike or the 3/4 retrace. Yes,  the 13400 level has become resistance and i would like to see a break and a retest of that level before entry for a retest of the top of the spike, see if price establishes support here at 13340.
  10. I like to set the bigger levels on the daily chart as potential targets. After the initial 30 - 1hr of whipsawing after data release has settled down and the local orders have all been taken out, price will then need to look to the next level where buyers/sellers might be waiting. On the Daily GBPUSD those target levels are fairly obvious. I then drop down to a 5 min chart for the actual data release, wait for bar sizes to settle and new direction becomes clear (if any) and only then look for an opportunity to get in. 
  11. Chart of MPC voters and votes, good point re; difficult to see 5 or more suddenly switching to vote to cut today? 
  12. I see IG have changed their rate cut forecast from no change a couple of days ago to a cut to 0.25% now and is now in line with FXPro, FXCM and ForexFactory. A cut will not be fully priced in and no cut will force some to re-position, expect whipsawing. As it is GBPUSD continues to hare around the charts like a demented whippet, expect more of the same. Mon Pol summary and Rate decision at 12:00 today. Note as well Carney speaks tomorrow at 1:00pm. 
  13. The best analysis you'll get today. ... 
  14. Yes, that's true , it is far easier to identify the end of a pullback than the top of a market. If you look at any trend there are many highs that could have been a top only to be superseded by a new one but only one will be the real top therefore picking tops must be a low probability trade. As for pullback levels and more importantly their failure level for price to continue with trend trading on a shorter time frame I find recent price action to be more valuable than levels based on historic data. This is why a sloping 20 ema works so well on intraday charts. The 20 ema is closely related to the 50 RSI level and a pullback that fails on a bounce off either=both makes for a strong entry signal to enter with trend.
  15. DX still lacking direction as seen in the sideways price action of the majors in the last few days. Needs a break of strong resistance around 9680 or break of strong support around 9550. Targets are the weekly support and resistance levels above and below. 
  16.  Thanks for the reply. Unfortunately no change with an uninstall and reinstall of the launcher, same result, the new launcher pop up starts the launch but crashes after about 5 seconds in. I have already worked my way through the suggested checks described in the new launcher help section and everything was as should be. I will continue to use the Java launch in the meantime.
  17. S+P continues it's surge upward in spite of, or because of, retail traders being 90% short? Nice inferred correlation between 95% of traders failing and 95% traders trying to pick tops and bottoms by Assad Tannous. 
  18. Hi  +  I probably didn't explain myself very well, I was actually looking at it from the opposite direction. I was saying I expected price to gyrate around the $50 level precisely because the market will always overshoot and seek confirmation in retests so I wouldn't enter here, rather use this 46 as a target once price has drifted away. A retest of $65 and $30 as range limits is possible though currently that 53 level looks very strong resistance and 42 looks good support. Interesting is the very large trade volume increase since the start of the year 
  19. The new launcher for PRT (released Thurs/Friday) causes instant total computer crash (blue screen of death) every time. Launch using the 'Java mode option' works as per normal. Any ideas?
  20. Brilliant interview, Crudele explains how he blew up his account 3 times before learning how to trade properly. Started as a pit trader in 80's, went through transition to screen trader in the 90's. 1 hour interview. He explains how 'risk management' is the key, not only for account survival but also how to use it to build a trade as well as using it to build an account. Chat with Traders episode 80. https://chatwithtraders.com/ep-080-anthony-crudele/
  21. Chart (120) with +ve divergence and fib levels but stuck at 13000, next level up 13322. 
  22. Keep an eye out for US ADP employment data 1:15pm and unemployment data 1:30pm today.
  23. Yes, as I posted previous there is still scope for trading oil because any move by Saudi will take time (weeks/months) to filter through, can they keep price in a large range through production manipulation? I suspect they can. So after any overshoot I would be expecting price to gravitate back toward $50 zone as per  's 4 hour chart and likely stay ranging for the foreseeable future. Price has gravitated toward $50 for a reason (as posted), at this level the big US shale companies can only sit and wait and hope while the Saudis keep one hand on their valves. They played a big role in the plunge down from $100 and knowing what their target is and why must have worth.
  24. Well spotted  the 10 minute chart is very interesting, you have a nice Judas swing up off the 8am open taking out the stops above 6570 then a strong push down to 6500 and the 30 RSI, then a pullback back up to the 50 RSI then trend continuation off a pin bar followed by a very strong bear bar to crash through support at 6480. Someone is showing determination. 
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