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Caseynotes

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Posts posted by Caseynotes


  1. 15 minutes ago, CharlieB said:

    Hi Casey,

    Im on the live platform and there was 15 minutes of very volatile price action.  All been removed from the charts now - concerning as I have a position on.

    No apparent reason for it

    very rare that it should happen on the live platform but if it does trade positions are not affected if it is a fake which this one was. The data for an account isn't taken from the chart but from source. 


  2. Dow above the pivot and looks to have checked on the 7am bar so may be set for a test of the recent high 27275 next, Dax just ducked under the pivot on the European open but now looking to get back above, if we do get a move higher on the London open Dax should look to test the recent high at 12461.

    image.thumb.png.67a3085303d267056f11dbb3aa03532c.png


  3. 9 hours ago, CharlieB said:

    Hi

    Whats with the Wall Street (Dow) chart in the last 15 minutes?  IG chart showing 100 pip swings which are not reflected with any other brokers. Is this a system issue or real?

     

    Hi, yes the demo platform is showing a false spike on the H1 chart at 9pm, the live platform is not affected.


  4. Ftse continues to climb as GBPUSD continues to decline. Dow has short term resistance at 27275 to conquer if it's to continue this leg up, Dax in a similar situation with resistance at 12475.

    S&P sits poised to break higher (daily chart).

    H4 charts; 

    image.thumb.png.8820e4f68535586339113a53b58c50b4.png

    image.thumb.png.6166dea6eb6aee2d45b60f2842d36f78.png


  5. 5 minutes ago, MT1million said:

    All. I just made my very first trade... sell gbp usd as I think the dollar will strengthen  . Question  - do I need to cover the trade ? Can I cash out any time today ? Or just accept what I have at COB ?

    Hi, you will need to close the trade either manually (any time) or by placing a limit order (profit target at a set level).


  6. 30 minutes ago, Trevbeats said:

    Hi Casey,

    I have never looked at horizontal S/Rs or dynamic S/R before? HOw does this work? I do use MA

    The key is to consider where is price likely to find pending buy or sell orders on the chart, they could be unfilled orders from the last time price visited and/or new orders placed there because that was a level that buyers found sellers and vice versa in the past and so possibly will again. That's why price moving up the chart is suddenly halted at resistance, because there is a cluster of sell orders waiting there, they are clustered because sellers want to work together to have the best chance of turning price and it doesn't matter what time frame chart the sellers are looking at the support and resistance levels are obvious on all.

    So static S/R is based on where real orders are most likely to be placed in the market, that's what makes them such a powerful tool.

    MAs can work as dynamic support for a trend and so can be used to find entry points for joining the trend on dips back to the MA, the key there is to find if/which MA that is being used by the large traders so some trial fitting is required first to find a match, the 20 sma and 50 sma are commonly  used for this approach.

     

    • Like 1

  7. 6 minutes ago, Trevbeats said:

    I have always heard Trend is your friend and it dose work for me but with caution. If we can't rely on trend lines whats the next point of call?

    the trend is your friend til the bend at the end, but a trendline is different, it's usually asking too much which is why they need to be constantly re-drawn, that and the lack of accuracy on different time frames mean they are very problematic to use for setting limit orders to.

    I wouldn't say never use them because sometimes they are obviously the popular method of choice for that particular instrument at that particular time but check alternatives as they might be a better fit such as horizontal S/Rs or dynamic S/R such as a particular MA. 

     

    image.png.4b52fdbe7da146887a646887f23ccd8c.png


  8. 7 minutes ago, dmedin said:

    I just read an astonishing thing from one of Reuters' technical analysts.  He was interpreting GBD vs USD and come out with the following: 'I am not a great fan of trend lines but ...'

    Now, I was under the impression that the trend line was one of the fundamentals of TA.  But now it appears that there are professional analysts who 'aren't fans' of it.

    Have you ever heard anything like this before from a professional technical analyst?

    yes, loads of times, not a great fan myself. They are never as strong as horizontal lines, they usually need to be re-drawn on a daily basis, by the time you have 3+ touches everyone can see them and the big players are looking at setting traps and they don't hold their drawing accuracy well through the different time frames on any platform.

     

    • Like 1
    • Great! 1

  9. 5 minutes ago, FFS_Daytrader said:

    Agreed - looking for breakout but will be range bound until FOMC with possible short term spike on rate decision. However, now that FOMC 25 point is expected (rather than 50 point) I expect gold to pull back to range again thereafter.

    What do you think?

    Sounds a reasonable summing up, FOMC this Wednesday and Powell unlikely to do the unexpected, don't think too much is expected from the US/China trade talks this week and NFP Friday, July's data doesn't usually throw up big surprises.

    • Like 1

  10. 3 minutes ago, searl75 said:

    If IG demo account measures differently to IG live account then which Companies demo account can I use to closely replicate IG live?

    Many thanks, this is extremely frustrating!

    To replicate the live it's a case of shifting the position size by one decimal place on demo, so for your example on the IG demo trade it would be;

                           0.00328 x 4.0 = 0.013120, shifted 4 decimal places = £131.20

    instead of;    0.00328 x 0.4 = 0.0013120, shifted 4 decimal places = £13.12

           

     

     


  11. Both have shifted under the Pivot this morning, Dow currently trying to bounce up off S1.

    Bulls will be looking to capture the Pivot then test Friday's highs while the Bears will be trying for a test of Thursday's lows.

    Starting holiday season this week so may see calmer markets this month though there will be US/China news this week and NFP on Friday..

    image.thumb.png.738aabfc7c5039a378c3d24fa71fa98c.png


  12. Dow Friday's bar was an inside pause signalling uncertainty, could see next a check of support just below at 27061 or a move towards that ATH resistance level that held all last week 27400, others to follow direction. 

    image.thumb.png.53ca8b5496465ecf4f2cc8133281c674.png


  13. 35 minutes ago, MKJ said:

    Does a guaranteed stop loss kick in whatever happens to the market?  By this, I mean, should the market gap (change radically overnight) to more or less jump over the guaranteed stop loss will it activate anyway?  In other words does it ALWAYS work?  

    Say my guaranteed stop loss was for 300 below (picture).  Would it have taken effect?  

     

    Screen Shot 2019-07-28 at 12.49.27.png

    Hi, yes, this is what the guaranteed stop was introduced to counter (slippage risk), I've not used it myself but have not seen anyone complain that it did not work as required.

    • Like 1

  14. 3 hours ago, searl75 said:
    Below is the result from my old broker with same EA and exact same settings and your IG MT4 demo account... but giving very different results? (I understand the brokers data varies slightly but not 1000% as are my results differing)
     
    Please advise, I assume this is a common issue?

    Hi, you are correct, the IG demo account only shifts the resulting calculation 4 decimal places instead of 5 but when you switch to a live account it will shift 5 decimal places as does your other broker. I'm not sure why they do this.

    From your posted trade history;

    IG/

    1.13538 - 1.13210 = 0.00328 x 0.4 = 0.0013120, shifted 4 decimal places = £13.12     

    (shifted 5 decimal places = £131.20)

    Other Broker/

    1.13583 - 1.13215 = 0.00368 x 0.28 = 0.0010304, shifted 5 decimal places = £103.04 

     

    • Like 1
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