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So there is that this is the tail end of the post, please excuse my rambling. AiG Performance of Services index, The AiG manufacturing PMI out earlier this week was much better The sub indexes for this indicator are, as you'd expect with such a small rise, a buit all over the place. Asset 24 View More. Trade ideas thread - European session 2 October US Secret Service intercepts envelope with suspected ricin addressed to Trump Fox with the info - ricin in an envelope address to President Trump Earlier news of ricin sent to the Pentagon also.
Fox with the info - ricin in an envelope address to President Trump Earlier news of ricin sent to the Pentagon also What is wrong with people? Analyst takes on the RBA statement: Some Australia data coming up today - preview of August building approvals Australian August building permits data is due at GMT on 3 October Some Australia data coming up today - preview of August building approvals https: There will be a bit of truth in it though, speculation on her leadership has been rampant for about 2 years LOL.
Chart making a liar out of me. GBP barely changed since I posted now. Whoops - forgot the link, here it is … but Tele is gated.
Down a few pips. But there is not usually too much response to this data point, so no surprise on the small wiggle. ForexLive Americas FX news wrap: Gold get some help from Italian turmoil and a bullish call from Goldman Sachs. Forex news for North American trade on October 2, Trade ideas thread - Wednesday 3 October G'day all!
Any charts, technical analysis, trade ideas, thoughts, views, ForexLive traders would like to share and discuss with fellow ForexLive traders, please do so: Trade ideas thread - Wednesday 3 October Eamonn Sheridan. Any charts, technical analysis, trade ideas, thoughts, views, ForexLive traders would like to share and discuss with fellow ForexLive traders, please do so:.
OIL - private inventory data shows surprise draw in gas, build in headline stocks https: The gasoline draw is a surprise, while the headline build is less than expected. Gold shines despite US dollar demand What moved markets Tuesday The dollar was trying to retain a bid tone as we headed into the European close on Tuesday. Interestingly, gold found some bids out of the blue, which could be something to watch if it is a warning sign for some instability ahead.
Gold shines despite US dollar demand https: What moved markets Tuesday The dollar was trying to retain a bid tone as we headed into the European close on Tuesday.
Dow closes at a record. Mixed day in the US stock market The US stock market has slid into the close and at the bell, the results are mixed:. The Dow is the big winner, closing up points or 0. The index closed down The Nasdaq was the dog for the day, closing down Mixed day in the US stock market The US stock market has slid into the close and at the bell, the results are mixed: Oil - heads up for the inventory data due around the bottom of the hour The regular Tuesday afternoon US time oil inventory private survey data Official government data follows Wednesday morning US time While this Tuesday release is only to subscribers to the private service it does hit the media in the minutes following.
Oil - heads up for the inventory data due around the bottom of the hour Eamonn Sheridan. The regular Tuesday afternoon US time oil inventory private survey data - Official government data follows Wednesday morning US time While this Tuesday release is only to subscribers to the private service it does hit the media in the minutes following.
A re-write on the economic narrative The period was worse than believed The defining economic event in the post-crisis period and the post-European crisis may have been the collapse in commodity prices. The period was worse than believed The defining economic event in the post-crisis period and the post-European crisis may have been the collapse in commodity prices.
Base case is for Dec hike and two more in Kaplan leaning against the narrative 'Comfortable' with one more hike in December. Sees two more hikes in as base case. Doesn't necessarily want to pause when Fed gets to neutral. Favors keeping options open once reaching neutral. Base case is for Dec hike and two more in Adam Button. Kaplan leaning against the narrative This is a clarification on his earlier comment suggesting he wanted to pause after hitting neutral.
Di Maio reiterates that planned budget deficit will be 2. ForexLive Here's a Bloomberg column along the same lines. Di Maio still not backing down Is this really the hill that the EU wants to die on?
Favors a pause once rates get to neutral More from Kaplan: Treasury yield curve is worth paying attention to. Neutral rate may be 2. Favors a pause once rates get to neutral Adam Button.
Here's a trade that's at a small discount today Adam Button. The next upside target is the It's appropriate to get into trade issues with China in a serious way Kaplan at a community luncheon in El Paso, Texas Expects a good year in the US, in part because of tax low. Thinks there is upside risk in oil, citing a fragile global equilibrium in oil supply.
It's appropriate to get into trade issues with China in a serious way Adam Button. Kaplan at a community luncheon in El Paso, Texas Expect more comments in the hour ahead as he takes questions from the audience and media. Now is a good time for the US to put its fiscal house in order. Fed doesn't see tariff impact on price data yet. US trade tariffs could increase prices. So people can start looking at these economic indicators ahead of time and that again is the deal. The last thing I want to say is that using these types of cycles affect any type of cycles, is just one energy in the market.
Money going in, money going out, the buying, the selling, the supply, the demand. You still need other things. But this is one extra thing that you can add to your trading in professionals.
Kind of a weird thing to say, but what I mean by that is that if you did get value from it, please pay it forward, just pay it forward. And the best way to do that is to click the share button.
Click the subscribe button. Click the thumbs up icon, leave comments below. I love your comments. I call it the rubber band trade. Get it absolutely free by clicking on the image in the top right corner of the video or in the description below the video.
Once you do one of those things, I will personally email the video to you with the rubber band trade strategy. This strategy will surely give an edge in trading against many others. I use this all the time and I absolutely love it. First of all, you want to see that you have a change of direction. So we have had a move up. And I will tell you that I agree — entries, I have no problem with entries. But exits are much more challenging than entries. But what we do want is a good risk-reward ratio and we want a reasonable, logical and high probability time to exit.
First of all, let me show you how to draw this. You start there and then to there and then a lower high. So looking for that shift in a trend. This is just the central line, you want to consider it that. So the middle one I make black and then the two outside of that I make thicker and darker blue. And then the ones outside of that, a little lighter blue and the wind outside of that a lot lighter blue.
I would expect that. But anyway, here you could see the handle. So the handle is that part where the fork, you would actually pick up the fork so to say.
But what is important here are the percentages. So, tine one is percent, tine to zero percent. Now, I have found that different charting platforms will prescribe different percentages there, but this is for Ninja trader seven. So these are going to be equidistant from the handle from the middle line. And then from there, I use 50 percent differences. So those are the settings that I use here.
And as long as price action stays between these two times or these two lines, we are continuing that same type of energy.
In other words, the market is not going down with as much enthusiasm as it started. Sometimes it does, but this is a little more typical of what happens. So it comes back down, hits that tine, comes back up, comes back down, hits that time, it comes back up, kind of rides this one down. Now, when it breaks out of the final one, the final line or tine, then I consider, this downtrend completely done this pitch fork over.
Not going to look at that pitchfork anymore. I could just take it off of the chart if I wanted to. That would be one place to exit. Another place to exit is a little more aggressive. You get a little more reward on it is when you wait for it to break out outside of this major tine here. And then look for it to come back and see how low it can go. It may not come all the way down here. You could look for things like a double bottom, etc. But just look for it to come back down here and then take a profit down here.
So those are two options for you. The signal that the energy has changed no longer is dramatic to the downside. So we drew it. The two major ones. Just create more clarity for you. So it comes in here, holds that one, gets a little below it, comes back up to the middle and holds this one. By the way, notice that it also kind of provides diagonal support resistance.
Now, here is the point of the second type of exit. Once it gets above the upper major tine, I call these my two primary tines. So this is then a very aggressive move to the upside for it to break above; see, last time we were looking forward to break below the tine to get out. So I consider that to be often an exhaustion move. It actually did make a higher high after that. But look what it also did in the meantime, which is very cool.
So this is where, I would get out on an exhaustion move. Comes down here, right? So that went up. Did it make a little higher high after where I got out? And then, well, what happens then when it finally does break down below this final tine, look at that, sure enough, that trend reverses and it goes down. So that is one of my favorite trading indicators, strategies, drawing tools, etc. Test it out for yourself, see how you like it.
Yeah, it is free. But from a spiritual point of view, if you got value from it, then you have an obligation to pay it forward. Share it with other people. And one of the best things you can do also is leave a comment.
I love your comments, even if you disagree with me or maybe have something to add to the conversation to help other traders who are watching this. I have a very special offer to you.
It is a super high win-loss ratio. So get my rubber band trade strategy absolutely free by simply clicking on the image in the top right corner of this video or in the description above or below this video. Closing price strategy vs settlement price: Which do you want to be? Welcome to this video on the closing price strategy vs settlement price.
So let me show you an example of that right now. This was Nasdaq futures. This was Friday, the 17th of November. And if we come here, first of all, if we go to the New York close, these times down below our California Times. If I go to the next bar, market closes and opens back up again 15 minutes later. These are just one-minute bars, we did that to get a very precise timing on each one of these.
In fact, if you go to the cmegroup. Is the last price traded at the close? The answer is no. So the settlement for this day was Now, the last price is listed on the cme group website at And if you look at it, the close of that bar is at So three and a half points is going to make a big difference when you plug that in as to how your floor trader pivots plot.
So make sure you use the right number. They will just go to their chart and they would use either that number or they would use the number By the way, there is a whole a procedure for how they determine this settlement. So not no reason to go through all of that. And the indicators that you use to the calculation of the close of the bar, especially. I would encourage you to check that out. See if your data provider, whoever it is giving you that number as the close on your daily charts.
The currency exchange rate is the rate at which one currency can be exchanged for another.
Mixed day in the US stock market The US stock market has slid into the close and at the bell, the results are mixed:.