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TrendFollower

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Everything posted by TrendFollower

  1. @robdyson, Well spotted. I was waiting for someone else on the IG Community to share any potential breakout and potential trend to trade in relation to Commodities. 👏 Looking at the 'daily' it seems it is making new 'Higher Highs' and new 'Higher Lows'. This is a bullish indicator. Platinum is also trading above its 20, 50, 100 and 200 DMA on the 'daily'. This too is a bullish indicator. It is trading above the dots on the Parabolic SAR which is a potential signal and a potential confirmation for a trend change. So there are enough positive indicators and I would expect some of the Commodity traders to have got in earlier. One of the things I do (not always) is place the smallest trade possible on any breakout of a trading range that crosses its 20 DMA. Then when it meets certain parameters in relation to indicators I add to the positions. So for example it crosses certain moving averages, etc. This way I build my position up with the trend and price strength. It also means I get in as early as possible. Sometimes waiting for signals may mean that most of the move is missed as it lags behind. From a risk perspective if the breakout fails to kick on and the trade goes against me then my stop loss exits me out of the trade with a small loss. Losses will be incurred so trade selection is vital to keep these to a minimum.
  2. Gold's price has been declining since middle of February 2019 and Bitcoin's price has been increasing in this same period. Now this could be a mere coincidence. I read somewhere that it may have been possible that someone sold £100m of Gold and shifted this into Bitcoin recently. Now I do not know if this is true and it may be a load of rubbish. On the other hand it would not surprise me if it were true. What we are seeing is the new future digital generation. They are going to understand Bitcoin more than Gold. They are going to appreciate Bitcoin more than Gold. They may transfer their family inheritance (a small proportion) of it into Bitcoin rather than Gold. What we may see is wealth across the globe being transferred into digital assets like Bitcoin rather than Gold. This transformation could increase the valuation of Bitcoin substantially. This is certainly the picture being painted but there may be a lot of 'froth' and 'inaccuracy' in the detail of such pictures.
  3. The Stock Market's Biggest Risk Is Still Alive: Slowing Economic Growth https://www.forbes.com/sites/johntobey/2019/04/19/the-stock-markets-biggest-risk-is-still-alive-slowing-economic-growth/
  4. Apologies, I have posted the above in the wrong thread.
  5. The question I am being asked is whether Gold is worth investing / trading (long) due to the recent sell off? My answer is that I simply do not know. Based on the current trend and price action Gold could easily continue downwards in which case any price today could get a lot lower. For me there is still the inherent risk that Gold could go towards its 200 DMA on the 'daily'. This could mean further downside but one will have to monitor the price action to find out. There is no magic answer or crystal ball prediction. None of us can tell the future. Timing in relation to entry and exit points can be very important. One must remember you are not going to get into a trade at the lowest price point to go long and sell at the highest price point unless you have magical and mystical powers. One must set your timeframe that you wish to trade. One must trade with the trend and not against it. One must trade based on current price action. As you can see from the chart above that the current price action is downwards which to me means 'short' trade. This could change very quickly but there is nothing on the chart above that tells me to go 'long' right now.
  6. In my personal opinion, I think the longer Bitcoin can stay in this current trading range above $5k then the stronger any future upward move will be. There is the possibility that Bitcoin could trade in this range for a while with lots of 'sideways activity' so potential traders will need to bear this possible scenario in mind.
  7. Could the Easter weekend bring a bumper dose of price action for Bitcoin et al? Prices are looking solid going into this long weekend including Good Friday, Easter Sunday and Bank Holiday Monday. There could be a lot of interesting price action. Some of the best gains can come when one least expects. I suppose the same is true of the reverse in terms of losses!
  8. I thought this article was rather relevant to this thread. EU sugar rises as regional market tightens, world prices languish https://www.independent.ie/business/farming/tillage/eu-sugar-rises-as-regional-market-tightens-world-prices-languish-37992854.html The last paragraph in the article is rather interesting from a 'Fundamental Perspective'. Analysts expect the global sugar market to record a deficit of 1.9 million tonnes in 2019/20, but following years of surplus, stockpiles are plentiful, keeping prices stubbornly range-bound near decade lows.
  9. Are the 'Whales' going to continue swimming with the tide? 🐟 🦈 🐋🏊‍♂️
  10. @KatherineIG, Have a look at the thread which I set up a few weeks ago by clicking on the link below. https://community.ig.com/forums/topic/6508-lean-hogs-price-breakout-by-trendfollower/?tab=comments#comment-28817 You may find this both interesting and relevant to your piece posted today.
  11. https://www.ig.com/uk/marketanalysis/ig-commodities/carbon-emissions I had not noticed this before but under client sentiment it shows a range of how many IG clients have open positions in Carbon Emissions. Maybe it was there before but I had never seen it.
  12. I think any bad news released by the media could trigger some serious selling. If good news is released by the media then new highs could be made and a new future created by the price action of the Dow, S&P and Nasdaq.
  13. Gold's price action is very negative. This is an ideal scenario for shorting it in a short term basis. I think Gold will have further to fall. I include a chart below for illustrate this point. I do not envisage Gold going below $1200 but there is the risk of it falling below $1250. This could attract a new wave of buying pressure due to traders and investors thinking they are getting good value.
  14. Bitcoin hit $5320 overnight. As time moves forward the 52 week high for Bitcoin will decline. To illustrate the point based on today's current prices Bitcoin's 52 week high would be close to $10k. Now it simply is not going to hit that either this month or next month. However, if its 52 week high was say $6k then it is more likely to hit than on speculative capital, herd behaviour, trend followers, etc.
  15. @LudicrouslyLeo, I use the IG app every day on an iPhone with the new iOS 12.2 update and I am not getting any issues at all. I would suggest contacting the IT section of Customer Services within IG if they have one!
  16. Bitcoin seems to be going through a consolidation phase which could go either way in my opinion. Bulls wants to see $6500 and above and the bears want to see new lows being made. Bitcoin may spend quite a bit of time within this range until it decides what it wants to do.
  17. Well the Nasdaq 100 (US 100) is touching distance in making a new 52 week high. I include the chart below to illustrate this point. The question is that will this move bump into resistance or push on higher? Will there be a big drop or major correction? These are the interesting things that we are all about to find out.
  18. The one interesting thing I have noticed in the latest bearish price action for Gold is that it seems to be dropping more or less similar to Silver. Silver so far seems to be dropping less aggressively than I envisaged. I must admit I would have expected Silver to be going down for more aggressively than Gold. Don't get me wrong. They have both gone down and dropped considerably. The point I am trying to articulate albeit badly is that I expected Silver to go down far more and far quicker than Silver and this has not occurred so far.
  19. Carbon Emissions seems to be making new highs whilst Natural Gas is feeling bloated! They say a picture can tell a thousand words. Well the two charts above can demonstrate what the price has been doing and is doing currently.
  20. @Ham or should I say Tim? Jambo. Which part of Uganda are you from? Kampala? Interesting question. I did not think IG accepted clients from Uganda but I could be wrong. I too will be interested to see the answer to your question. @JamesIG, are you able to help here? I have found the following which are the countries that IG Group operate in: https://www.iggroup.com/about-us/where-we-operate Now I know this does not answer your question but lets see what James comes back with.
  21. @dmedin, I totally agree with you that Spread Betting is aimed at the retail gambler. The broker (house) is betting on them making wrong trading decisions and profiting. The house always has the stronger edge and the house always wins. The statistics show this. However, to counter my own argument I have heard the argument that Spread Betting platforms like IG need traders to be successful in trading so that they keep placing more trades thus earning them more money. I do understand this argument as well. This is why I keep on stating that when Spread Betting one must only trade with the strongest trends and not against them. That is the best chance a trader has to be involved in a profitable trade and a successful outcome. Anything else in my opinion is more towards gambling. All trading has an element of speculation but with the right conditions / environment and certain signals one can use this to stack the odds slightly in their favour and increase the probability of a winning trade. No guarantees of course. Spread Betting allows the use of leverage. With sound risk management, if leverage can be used effectively it can enhance profits.
  22. At 9:00 pm, Litecoin, is leading the way and is 4.29% at the time of this post.
  23. @JulianG 'Bid Price' if you are selling and 'Ask Price' if you are buying.
  24. Gold is in danger of going down to $1242 level. The chart is looking very bearish to me now. It is beginning to make 'Lower Highs' and 'Lower Lows' look imminent. For me now is not the time to try and be clever and go 'Long'. One must either: Short Gold Do Nothing
  25. @nit2wynit, I think Caseynotes mentioned this in either this thread or another but I agree with him. For new and inexperienced traders it may be a good idea to bet the smallest amount you can in a live account and build those positions up by adding to them should the trade move in your favour (direction). This will help to build your confidence and allow you to really monitor the price action and try and understand why it is moving the way it is. However, I would like to add that before you do this make sure you select your asset to trade wisely. Make sure you entry point is thought through carefully. If certain indicators are not met then you should seriously consider waiting patiently until they before entering any trade. Sometimes the wisest thing to do is nothing. Do not feel obliged to place a trade. Make sure the conditions and set up are in your favour based on your trading strategy and system.
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