Spent a little time researching spread betting stocks and shares again, as I had trained for previously.
Seeking platforms in order to do this on and from advice in forums, it seems IG.com has platforms with the widest range of stocks and shares freely available.
Previously I used eSignal software which was nice to use, but at £50 a month (back then) its an overhead I can do without right now.
There’s other features that I will be looking into also, such as spreads.
If they are competitive with AxiTrader, then I may use IG for forex also, either through their online platform or through MetaTrader4 – again, further research needed.
– CURRENTLY NO LIVE FUNDS TRADED –
The USD seemed to weaken across the market over the last couple of days, possibly related to news of President Trump, FBI investigations and Russia “scandals” as its being called.
The news does have an effect on the market, however it is usually short term and the markets eventually correct themselves. This is commonly known as “noise”.
AUDUSD broke the trend line as the USD weakened.
Expect market to correct itself over the next few days and come back to trend and seek price action from there.
One of the few currencies that didn’t strengthen well against the USD. Although it tried and became very indecisive.
Yesterday’s order based on the inside bar setup was never triggered.
Another inside bar setup not triggered. However, a bearish pin bar formation has formed rejecting the 50 day MA.
Trade: Sell Stop @ 110.89 (1 pip below the low, -2 pips for spread also) Stop Loss @ 111.63 (1 pip above the high, +2 pips for the spread)
METALS XAUUSD (Gold)
Gold is currently in an overall uptrend with a formation of a bullish pin par closing above recent resistance and good space to grow from here.
Trade: Buy Stop @ 1262.64 (1 pip above high + 10 pips spread) Stop Loss @ 1251.63 (1 pip below low – 10 pips spread)
SHARES Sound Energy (LSE:SOU)
Sound Energy is a stock I’ve previously bought and kept an eye on for a while.
With the new access to spreadbetting shares through IG.com, I’m keeping an eye on it’s price. It is nearing a support level where I will look into getting long from here.
These are my personal reviews of the market and as I am not an experienced trader I highly recommend you seek your own advice before placing any trades based on my viewpoint.
Feedback on my market analysis would be hugely appreciated as I seek to learn more about trading.