trade247
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Posts posted by trade247
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to be fair the crypto spreads have been discussed in detail a load of times and whilst large I can see it's reasonable given all the other factors.
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1 hour ago, Caseynotes said:
Oil got a bit of a boost today with US imposing new sanctions on the Venezuelan oil industry.
that was yesterday no? It seems to be a very delayed reaction.
I'd like to be seeing 58.50 in short mid term.
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to me this looks like we are looking at resistance on the 15 min and a possible trade as someone noted above with reverse head and shoulders on the daily.
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in regards to parliamentary amendments later today
"In theory, if any amendments pass other than Brady’s, it’s not good news for May -- though it’s important to note that Tuesday’s votes are not of the binding type May lost earlier this month when her deal was rejected. The Cooper plan to delay Brexit is the one that has the most potential to derail May’s strategy. Meanwhile if the Brady amendment on the backstop secures a majority, May will consider that a mandate to try to negotiate again with the EU."
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ooo I like those charts on the econ calendar link you posted @Caseynotes and its very useful. For me I think the description as well and I think it helps as there are so many different data points and its hard to remember what they all are. I like the way that dailyfx do it with the drop down rather than it taking you to a different webpage, however it doesn't have that for all events.
I also think a count down timer would also be good rather than just having the time of the event, and when you click on the event it comes up with the core market related to that, or at least a few options.
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this is the davos chat for those interested
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great idea.
added to the watchlist and will be monitoring this one looking forwards.
thanks both - will 'follow' this thread as well.
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4 hours ago, Mercury said:
Regarding GBPUSD, I am not really interested in lasts nights Westminster pantomime, those MPs are detached from the electorate in a way that we have not see such evidence of for a long long time.
You're not wrong on that one! It amazes me that even in these perilous times for our country those on either side of the bench are still the ones squabbling amongst themselves and setting up plays for future power. Same as post-ref ... leading leavers dropping like flys so they can let someone take the un-imaginable task of leading the UK thru brexit.
short term vol played out pretty quick. risk off over the next few days. Like you said - at this point the sensible thing to do is nothing .
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think of trading like a race. Most people can drive, but those who are winners are the ones who put time and effort into practicing their starts, practicing the course, learning about the other drivers strategy, reading up about their car, talking to the mechanics, putting in the time and effort to lap their practice track day in day out.
the winners also are never going to be the ones who get in an F1 car for the first time after passing their Driving Theory test ... scale up power (leverage) and your opponents (assets)
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missing your views @Mercury
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29 minutes ago, Exhale_Trading said:
With help of the API this is no big deal to fix.
is this something someone outside IG could whip up and put on their own webpage?
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When it comes to the house market figures out today from Nationwide (showing the smallest house price increase in a looooong time) what are peoples expectations? Next year will start to fall...rapidly. With a ‘hard Brexit’ - leading to a plunging pound, sharp rise in inflation - creating a rise in unemployment and BoE interest rates. Each one is toxic for the UK housing market - combined its lethal!
I think this will hurt, but I don't think it would prompt the 'next crash'. Those always come from something which no one has an eye on. Unlikely to be a repeat as it was previously.
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bitcoin currently sat above the 20 day MA, but below the 50. On the hourly looks more to be searching out direction and relatively range bound between the 3600 and 3900...
Volumes and news hopefully pushing the markets higher.
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another vote from me on this one
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I find gold not so interesting to trade. Many factors, but no real news apart from 'risk off' trade appetite. Bores me. Like you said I think it needs to break 1290 and then would head to 1365.
You know I'm desperate as I'm talking about levels and tech analysis now ;P
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From a fundamental perspective we could be gearing up for a good play on Gold. Political uncertainty, Feds interest rate decision, and a broadly slower global growth outlook has sent the wider market running for the gold-nugget-embedded hills of safety.
A weaker USD has also been beneficial.
Will continue to passively watch your discussions and analysis with interest and see if they're backing up the global macro picture!
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this took an odd turn...
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I'm not sure with gold these days. It seems to be very range bound for months and months, as below. Seem to be a little towards a mid range so no real conviction bid or offer.
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feeling bullish, with the expectation on Saudi to keep releasing bullshitty announcements for the 2-3 weeks before acting. Keeping a close eye on freight rates as the really high freight rates are the only thing that stopped China lifting European barrels, which made the global demand seem subdued incorrectly, and exacerbated the sell off.
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9 hours ago, Turnip230248 said:
Anyone trade oil on a 5 minute chart?
Profitable
unfortunately not. Currently looking for an entry and on a longer term perspective. Don't want to catch a falling knife, but a mean reversion trade would be interesting to me .... but where that is poses the problem
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13 hours ago, elle said:
whilst true .... are we not at a position now where we can redraw the support (as below with the orange line)
playing devils advocate here.
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Honestly, I think a lot of what he says is justified. Whilst it may not be ideal for market relations .... to him it just doesn't matter. Think its a continuation of his personality.
I'm not calling him crazy just yet!
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1 hour ago, Mercury said:
But it doesn't mean diddly @cryptotrader, if we are not sure we should not trade, in fact this would be pure gambling. Even when we are more sure we get it wrong most of the time (well I do...). So if the people on this forum, with all their different methods all say they are not sure then there is not trading opportunity, surely?
very fair point - maybe it is just the time to sit on hands and see what plays out.
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Crude Oil (WTI)
in Commodities
Posted
strong day for oil at the moment from reuters
"OPEC said on Tuesday it had cut oil production steeply under a global supply deal, although it flagged headwinds confronting its efforts to prevent a glut this year including weaker demand and higher rival output.
In a monthly report, OPEC said its oil output fell almost 800,000 barrels per day in January to 30.81 million bpd. That is still slightly more than the expected 2019 demand for OPEC crude, which the producer group lowered to 30.59 million bpd.
Worried by a drop in oil prices and rising supplies, the Organization of the Petroleum Exporting Countries and its allies including Russia agreed in December to return to supply cuts. OPEC is lowering output by 800,000 bpd from Jan. 1."