Caseynotes

Thanks Phil, there's no reason why you shouldn't add your thoughts though, all view points are interesting and all equally at the mercy of future events.

Coming into week and month end and Dow establishing a range on the 1 hour with Dax and Nikkei following suit. Ftse remains at the mercy of Brexit headlines. Waiting for European and London open for a guide as to whether the next move will be a test of range top or range bottom. 1 hour charts;

Thank you @Stewart, am pleased my posts have been of some assistance. The key as a retail trader is to join the ride between levels but to avoid the battle at levels, so identifying those potential battle zones is of paramount importance.

Notable surge down through $50 this morning, retest and continuation; H1 chart

Dow continued upward yesterday with Dax following after a shaky start, both now slowing as they close in on the resistance level taken from the daily chart (orange). Will be interesting to see if Dow attempts this hurdle, the others will be watching closely. Draghi speaks at 8 am and last FOMC meeting minutes release at 7 pm today.

Whether limit or stop to open, the order type is selected automatically and depends on which side of price you set the price level to open. In the pic above if you select 'sell' below price it must be a stop order, if you select 'buy' below price it must be a limit order.

Hi @jomni, not sure how the app works but on the web platform the deal and order tickets are on the chart right hand side.

Dow climbs above prior support turned resistance at 24758 with a clear path ahead, Nikkei following while Dax and Ftse still have their own short term resistance levels to beat. US q/q GDP figures today 3.6% expected, 3.5% previous. 4 hour charts;

Good article here by IG's Joshua Mahony on indices and strategies from last week if you missed it. Compares indices to other markets and points out that indices are a good market to choose for those looking to buy and hold. In addition to the reasons he gives another is that indices themselves do not buy and hold, they discard the weak and adopt the strong. Looks at bull trends, consolidations and deep retracements. https://www.ig.com/uk/trading-strategies/top-indices-trading-strategies-181121?CHID=9&SM=TW&REF=IG

This news/non-news spike-retrace shows what the markets want to do. Spike on news Xi and Trump working on a deal reported in China, retrace when realised the report was based on phone call between the two a month ago.

I hour charts and all 4 mid way in a bull flag, prior bars suggesting a retest of the flag highs but waiting for the open to confirm direction.

The same indicator switching modes from levels to channels to bands.

Big day today, after the long weekend holiday in the US we should see if there is real interest in attacking these lows in the Dow (and the others). Weekly charts;

Hi @Orion. Personally, I know anything is possible and it doesn't take much to start a panic but I'm not expecting a crash soon with the US economy so strong, GDP near 4%, PMIs in the 60s and record levels of employment. I have grave concerns for the EU though and any contagion from there could cause massive fallout world wide. There will need to be some form of digital currency to be used on blockchain in the future but am not convinced any of the present batch of coins will necessarily survive to see it. I have concerns with the whole mining/forking issues that plague bitcoin and that the many spawn of bitcoin also have adopted.

@Orion, that's right IG don't do the physical and besides there are a lot of costs involved with storage etc. ETFs may well be a good way to go, perhaps our good friends @TrendFollower and/or @Mercury can offer us some sage advice on the subject.

Hi @Orion, how do you want to buy gold on IG? Leveraged account speculating on the price of gold, spread bet or cfd? Leveraged shares in a company associated with gold, unleveraged shares? Buy the physical gold?

Dow still eyeing up that recent low, though the Thanksgiving holiday is just 1 day but many make a long weekend of it and today being a Friday I wouldn't expect a serious attack on an important level today (famous last words).

Three of our indices got a reasonable bounce up off support yesterday the exception being Dow which is sticking close to the recent lows. That's likely to unnerve the other three today and consider today is a public holiday in the US while JPY public holiday tomorrow.

Support & Resistance: If only there was some means to auto redraw support and resistance and trend lines life would be so much easier. - Support and Resistance indicator. 1 month - 1 min Time Frames. (I've left out the lower orders to unclutter the chart but really useful if working with small time frame charts - Supply and Demand Zones. - Trend Lines. - Murrey Math S&R with Pivots - S&R Fractals. 1 month - 1 hour Time Frames. (you might recognise it)

@Mercury, I knew the 1970's inflation rate was in the double digits but couldn't remember what so didn't include it for my previous reply so I just looked it up now - still gave me a bit of a shock.

Great work @Mercury, the early 70's are significant to your thesis as the gold spike was due to easy CB money policies to generate employment leading to high inflation and subsequent high interest rates running to around 15%.

With fast moving markets it always pays to go to the higher time frame and zoom in to get an idea where they might be headed. Dow and Ftse have last months low straight ahead while Dax is trying to hang onto the same though also has just below a previous 4 month resistance level that may become support. On the 4 hour Nikkei there's a strong bounce up which looks to be influencing the other three this morning. Monthly charts top 4 Hour charts bottom.

Interesting gold and S&P chart. Total return over last 21 years both currently at + 310%.

VOLUME Volume indicators depend on a brokers feed and the data used may come from a variety of sources and types. Real volume is units traded, transaction volume is orders executed and tick volume shows how often prices are updated. Regardless of where the data comes from the profile of the volume chart should be very closely related. Also consider the colour codes on basic volume indicators may indicate different aspects, for example, more buy or sell units per candle (web based platform) or greater or lesser total volume compared to the previous bar (MT4 platform). Hawkeye Volume: Red denotes sell dominance, green buy dominance and white = neutral or no demand which may indicate a change of direction if control is reversed . Fractal Volume; You might think mixing fractals with volume is a crazy idea that will give weird results and you'd be right. An important note on fractals is that many recalculate and redraw depending on subsequent data so they may give signs but not signals. The fractal volume indicator below does both, The large bars (15 and over) denote possible cyclic turning points but if wrong will erase and redraw so can't be relied upon as a signal. The smaller bars (less than 15) are based on buy or sell dominance which, if coming after a large same colour turning point bar, may indicate continuation in that direction. Better Volume: Better volume tries to pick out significant bars from the crowd, see video below. High Vol Climax Up = Red. HV Climax Down = White. Climax Churn = Magenta. Churn = Green. LV = Yellow.

Hi @hart, it looks like you will need to switch to the new platform to see that particular function. It looks like an added update to the new platform and may not be added the old.