Caseynotes
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Posts posted by Caseynotes
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@loke1996 & @chantellouise, hopefully someone from IG will comment but this one comes around every year at this time. During Japan's 'Golden Week' holiday JPY banks do not exchange (as at weekends), this year is exacerbated by the crowning of the new Emperor causing a 10 day shutdown. There are threads on the forum from years past with more specific info but a quick search didn't find them, I'll look again when I have more time.
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16 minutes ago, Philipus said:
Is there any education on the IG site that tells me the pros and cons of each. I can find about CFD and spread betting but as yet nothing about the basics of my first purchase.
Hi @Philipus, take a look at this page for share dealing order types on IG;
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Dow, after testing S1 and working it's way back up just took a very sudden dive down to S2 coinciding with the 3M Q1 earnings release miss. Dax heading back down to the pivot in sympathy 😢
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Good question.
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Part 1 of 2 of a followup to the OP in this thread is a must read. Why are all the classical economists unable to explain the current global economic situation? The Permabears have been waiting years for the sky to fall and still nothing. How come Japan's massive debt load hasn't sunk their economy? And where is all the **** INFLATION?
https://www.themacrotourist.com/posts/2019/04/23/mmt1/
PRACTITIONER'S GUIDE TO MMT: PART 1
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Thursday's pre-market big names and charts.
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US durable goods data at 1:30 pm today. Dow and S&P still loitering just under the ATHs losing momentum but not looking too concerned, still waiting for a push.
On the H1 Dow working it's way up to the new daily pivot around 26600 and Dax looking up at a first target of yesterday's high at 12350.
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So, at end of day Dax found support at R1 while Dow broke down to find support at S1 and in the meantime USD finally broke out of long term consolidation;
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Dow failed at 26700 and once again down to retest the pivot on the US open, Dax pulls back down to test R1, see if they hold.
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Australian financial regulator ASIC starting to sound a lot like the EU regulator ESMA with regards to high leverage for retail clients, leverage reduction may be on it's way.
"While the focus of the European regulators has been on delivering a plain and simple message that retail clients are losing too much money while trading, the ASIC’s focusing on a specific issue – the structure of markets and “ridiculous leverage”.
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Dax makes for R3 while S&P sets up for an assault on the summit;
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Gold ready for another leg down? 1 hour;
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Looks to be setting up for a push higher on the 1 hour;
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Dow slow away having insisted on another test of the pivot while Dax was happily steering for R1 when got a nasty shock from the poor ifo business climate data at 9 am. Looks to be getting back into it's stride again now though.
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Not sure which screen Kyle was looking at on the APAC brief but Dow not quite at the ATH. Worryingly this is usually about the time Trump chooses to ratchet up the trade war threats though it might be different this time, both sides making noises the final deal is near.
Dow currently bouncing up off the daily pivot looking to target R1 at 26750.
Dax has just tested S1 and heading back up to the pivot at 12231 with R1 beyond that at 12282.
As ever we may see some initial jockeying on market open but the overall trend remains bullish.
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S&P closing in on the 'All Time High', still a couple of hours to go before the US market close, bears seem to be hibernating (hiding), difficult to see how this level will remain standing.
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2 hours ago, RichardSmith said:
On the other hand, with DAX failing to get above weekly 100 MA and potential head and shoulders forming on a daily chart I see it going downwards this week to about 11845 mark. EUR consumers don't look confident either. Any thoughts?
Certainly maybe Richard, there should be support around that level if Dax does reverse but I would myself expect continuation upward if the US indices break through to the upside though.
Many like to pick and choose, mix and match, indicators, patterns and time frames to suit our bias, you see such posted all the time, but going down that road leads to madness because we will always be able to find many combos that will support whatever bias we have.
Looking at the weekly 100 MA, price last week put in a powerful bull bar right to it and with only one day trading this week can't really say it's failed there yet. I can't really see a forming H&S pattern on the daily (see how to post a chart below), and I wouldn't worry about EU consumers as all the Dax companies are big multi-nationals, so I suspect Dax will follow the US indices upward if they break, riding on the back of increasing risk-on sentiment.
My charts are MT4 charts, to post IG charts click on the 3 dots (options) tab then 'export chart' and a copy of the on-screen chart will be placed in your download folder (without any personal info).
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Gold move down related to today's dollar move up, DXY looking looking to break up out of 6 month consolidation, watch out dollar fx pairs.
Daily DXY chart;
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Not much standing in the way of 1250 now;
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Nice piece explaining MAs and EMAs and their calcs plus Death and Golden crosses with today's Bitcoin chart used to give examples.
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Dow unable to break the pivot but not really pushing lower either, Dax pushed further down to test S2 where it's currently stalled.
Into the afternoon and US open and long term still bullish so looking for support confirmation and on to seek resistance.
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Oil heading towards 70.00, has a liking for resting up at round numbers as has been pointed out before. Big recent boost from the US halting the Iran oil export waivers.
The Chinese are not happy and may well make waves as they import a lot from Iran, so may not be all plain sailing ahead.
Daily chart;
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@TrendFollower, just to point out that the article specifically referred to the special attraction to the 'unregulated' crypto markets of these types of malpractices .
There was nothing about moving averages but referred instead to the artificial 'bloating' of volume data by bots using very low latency and very high frequency trading.
The article did refer to similar problems occurring in other markets with the introduction of high speed connections but those markets had regulators able to address the problem once identified, crypto doesn't.
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Interesting article on research findings that show Bitcoin Bots are being used extensively to frontrun punters in the unregulated crypto markets. Goes some way to explaining the unusual pattern of crypto pumps.
First Share Purchase
in Investments, share dealing, and Smart Portfolios
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