Understanding the importance of stop losses, whether you are using them just for security or as an integral part of your strategy, there is still a debate among traders about whether fixed or moving stop losses are better - or, a combination of both. The easy way out is to say, "it depends on your trading style," but that doesn't help answer ...
Technical Copper – Broken out of a wedge pattern. Weekly: The selloff has posted a correction count on the weekly chart. The 50% Fibonacci retracement is located at 2.628 from 1.936 to 3.320. The bullish engulfing candle on the weekly chart the positive for sentiment. The corrective cycle lower looks to have stalled. Daily: A break...
“Financial Markets.” What comes first to your mind when you hear this word? Something like ‘Gambling,’ ‘Speculation,’ ‘Everybody loses money,’ ‘Trap,’ right? You might have heard something like this from your family or friends, but this may not be true. There are a lot of people there to whom trading is their bread and butter, and if the abov...
Technical FTSE – Correction should provide fresh opportunity to sell Weekly: A sequence of weekly lower lows and highs has been posted. Levels close to the 61.8% pullback level of 7219 found buyers. A higher correction is expected. We have a 38.2% Fibonacci pullback level of 7480 from 7904 to 7219. Preferred trade is to sell into rallies. ...
Technical Monthly: Prices look to be heading towards a new 83 month high. The sequence for trading is higher highs and lows. A move through bespoke resistance at 74.94 and we look for extended gains. The medium-term bias remains bullish. Weekly: A sequence of weekly higher highs and lows has been posted. Price action has posted a bulli...
Technical Monthly: Broken out of the channel formation to the downside. This is negative for sentiment and the downtrend has potential to return. A lower correction is expected. We have a 50% Fibonacci pullback level of 11148 from 8695 to 13601. Weekly: The bearish engulfing candle on the weekly chart is negative for sentiment. A beari...
The simple moving average (SMA) is probably the most basic indicator that traders have, but as previously discussed, it has a lot of uses. Partially because of this, it's one of the most universal indicators, and as such becomes something of a self-fulfilling prophecy. [shortcode-variables slug="fxcottradenow"] The market moves on consensu...
Technical Weekly: Previous support level of 1.3000 broken. The sequence for trading is higher highs and lows. Posted a Bullish Hammer Bottom on the Weekly chart. We look for a re-test of the downward trending support Daily: Broken out of the channel formation to the upside. Prices are extending higher from the bullish flag/pennant formation....
EURGBP – Dip to the bottom of the uptrend channel attracting buying interest Weekly: Broken out of the wedge formation to the upside. This has been positive for recent price action, with prices extending above the 0.8800 level. The continuation higher in prices through resistance has been impressive with strong momentum and shows no signs of ...
FTSE – Continues to trade within a range Weekly: The index continues to trade in a narrow range between 7486 -7802 and is showing no sign of exiting this range. The weekly candles are posting small bodies which indicates a lack of direction and indecision. As the summer months are ending we now expect to see a pickup in trading activity. ...
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