Caseynotes
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Posts posted by Caseynotes
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Definitely pivots, trendlines are great fun because you get to redraw them everyday ☹️, I stopped using manually drawn lines long ago because you can see anyway but recently found an auto line maker so am trialing, it seems useful for spotting underside retests after breakout and spotting channels as well as early trendline formation. Fibs I used a lot when posting on the run up in 2017 but over the long run, given a choice between looking at 5 Fib levels or pivots combined with support and resistance levels (which often confirm each other) I far prefer the latter, S&R levels are where traders stepped and may do so again or even have unfilled orders left resting. I wouldn't even consider trying to use everything all at once 🙂
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5 minutes ago, Ossam said:
thanks for responding, I have done what you mentioned , I do that and it would flash the update and then it stops, am a little bit confused as why is it doing it on both my MT4 app (phone and PC) am suspecting this is a problem with my broker
OK, I've found the note about red green and you are right but shouldn't make a difference. See this page and number 5, could be antivirus, firewall, or internet security interfering.
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A quick look at symmetrical triangles;
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Unlike the other indices ftse stayed on the underside of the pivot but otherwise similar chart structure.
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BTC and Litecoin in the red.
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BTC double topped early this morning at around 8368 and has fallen hard down to support at 7850, currently trying to get back above 8000.
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Looking for an initial bounce up off the pivots for an eventual retest of the highs, no major news events on the calendar for today or tomorrow.
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Yes but so far it's a fair attempt to lift up off support.
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Hi @Ossam, I've always been connected to a data center with the connection blue/green, if ever I've seen red it's meant trouble. Click on File > Open an Account and look at the server speed then click on the connection box to check that the fastest data center is checked and matches the IG server
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Dow and Dax reset to the new daily pivot overnight and could break either up out of the 10 day channel or down to confirm it. Ftse overshot to the down side and Nikkei looks balanced.
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Oh I see what's going on now, I was promoted to 'Super Contributor' sometime recently, ohhh the seething.
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No reason why the bulls shouldn't regain control, it's a hundred year bull market after all and there is a 3 - 4 week pax on re trade wars and the US economy continues to flourish, so long the wheels keep turning there will be growth and that is always bullish.
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Yes @Roadrat, Dow did fall to 25337 as predicted but there is no trick to it, price must obey the rules and can't just wander about the chart at will. Once the sellers overwhelmed the pivot Price was forced to go in search of buyers, and the last place it found them was the most recent low at 25473 and if sellers over ran that level the next level down was S1 at 25337. Sometimes buyers in haste will intercept price along the way but they weren't that keen, and then the Trump announcement changed everything.
Dax and the Ger car manufacturers were the big winners with price leaping from S1 to R2.
Also posted below are the demo options trades I've been toying with lately for yesterday and today and though winners I can't say I'm taken with them, there's just no control, the first was just left till expiry and the second one I closed during the high vol but both spent most of the day in the red. I think I'll stop until I understand them better.
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Ftse held firm in the early part of the day and was carried up at the 3pm Trump tariff announcement. An interesting gap down on the close which has since nearly filled.
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A look at the S&P, a second daily bull candle after Trump's clearing the battle field in order to concentrate on China. He is delaying any tariffs on EU vehicles imported into the US for 6 months, gave a big boost to the indices especially Dax.
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BTC struggled to get off the mark today while Ether was the star performer percentage chance.
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BTC trying to launch again to 8163 having spent most of the day about the pivot, currently at 8100, R1 at 8163.
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@Roadrat, similar situ as dax, looks to have just now failed to retake the pivot so it's a retest of the immediate low 25473 which it's approaching now, if that fails it's heading down to S1 around 25337.
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I'm assuming you are referring to the bar this morning that spiked back up 400 points before continuing down.
The bottom chart is IG while the top chart (as above) is a different broker showing exactly the same move.
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BTC having problems getting above 8095, the others are leaving it behind.
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@Jab, the spike is showing up on other broker feeds as well, diff time zone so bars not exactly the same but the price is.
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11 minutes ago, davidbrister said:
isnt that why some systems have the Back testing ability so u can check the risk?
Risk and profitability, the key to any strategy whether manual or auto is it's profitability over a number of trades rather than snapshots.
You want to know if the strategy has unexpected large drawdown periods that will wipe out weeks of profit, how much needs to be risked on each trade, what is the expected profit factor over many trades.
So all systems need to be back tested and the sim is trying to add forward testing though it's quite basic.
The simplest way of testing the profitability of a strategy is comparing the risk reward ratio to the winrate on a number of trades, in the example below if your reward is 2.5 x the amount risked per trade then your win rate only needs to be 30% for the strategy to be profitable. Any strategy that can plot above the red line is a profitable strategy. You need to know this before taking a strategy (manual or auto) live. You can play the strategy out on demo which is slow, or back test it which is faster, or play it out on a sim which is fastest.
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Dax initially broke up but Dow not playing so back down for another retest of support with dax following, now attempting a bounce.
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MT 4 Connection Status
in IG Technical Support - Platform and App Help
Posted
Ok, can't think of anything else but if the problem is in the feed then many should be affected, not having any issues here, good luck.