Time to buy your tickets for our trading extravaganza April 24, 2012 CANDLESTICK charting has stood the test of time, with Japanese rice merchant Munehisa Homma (1724-1803) credited as its founder. Candlesticks are an elegant means of displaying complex information – and we will be discussing everything they can offer at our conference on 24 May. The candle or “real body” marks a price’s opening and closing [...]
Our star speakers will reveal the profits in patterns. Craig Drake spots three to watch April 24, 2012 REVERSAL DOUBLE TOP DOUBLE top and double bottom chart patterns are straightforward to spot and can be seen across a range of different time frames, both in long and short-term charts. Double tops are important to look out for, as are double bottoms as they confirm a resistance point that has been retested a second [...]
CHARTING MASTERCLASS April 24, 2012 DAVID JONES IG INDEX ■ David is chief market strategist at IG Index. Bestselling author of Spread Betting the Forex Markets, he is a well-known and widely respected commentator on the financial markets, and regularly offers his views for media outlets. Twitter: @DavidJones_IG ASHRAF LAIDI CITY INDEX ■ Ashraf Laidi is chief global strategist at [...]
FTSE slumps as fresh fears over the Eurozone return to global markets April 23, 2012 BRITAIN’S top shares surrendered almost all of last week’s gains yesterday, led lower by commodity stocks and banks, as political uncertainty and disappointing economic data revived investor concerns over the Eurozone debt situation. The mood was darkened by data showing the Eurozone’s business slump deepened at a far faster pace than expected in April, suggesting [...]
Wall Street is in retreat over euro worries April 23, 2012 US stocks fell yesterday as political turmoil in Europe cast doubts on the Eurozone’s ability to push through measures to end its debt crisis and as Wal-Mart sank following a report it stymied a bribery probe. The Dow Jones industrial average was down 102.09 points, or 0.78 per cent, at 12,927.17. The Standard & Poor’s [...]
SELL IN MAY AND GO AWAY REMAINS EFFECTIVE ADVICE April 23, 2012 DIRECTOR OF CURRENCY RESEARCH, GFT FORGET merger arbitrage, forget relative strength, forget long/short hedge books. In investing, one simple strategy has been wildly more effective than any modern, sophisticated computer-driven algorithms. You may have heard the old trader manta “sell in May and go away”. I certainly have, but until I looked up its results [...]
THE TIPSTER April 23, 2012 EasyJet shares have been taking off since last summer, tacking on over 50 per cent to highs of almost 500p. Look for any drop back towards the 460p level to take a long position, as trendline support and the 50 and 60-day simple moving averages should offer a buying opportunity. Spread Co quotes easyJet at [...]
Trading up in a sideways market April 23, 2012 WHEN it comes to the markets, most traders are agnostic about which way the market is moving, whether up or down, just as long as it is moving in a direction. Following the trend is one of the basics of spread betting. But markets move in a non-trending or sideways direction more often than they [...]
Analyst picks for 24 April 2012 April 23, 2012 CURRENCY STRATEGIST JOEL KRUGER My pick: Sell sterling-dollar at $1.6210 Expertise: Technical analysis Average time frame of trades: 3 days to 1 week The market has recently broken to fresh 2012 highs beyond $1.6000. This now likely opens additional upside, back towards the October 2011 peak by $1.6165 further up. While our core bias remains [...]
Fundamentals remain for gold to resume its bull run April 23, 2012 With the US balance sheet more than doubling, it is not gold and other commodities that are expensive but cash that is cheap GOLD has been struggling to make any real breakthroughs of late, stuck below the psychological $1,700 an ounce level since the beginning of March. On the New York Mercentile Exchange, Comex gold [...]