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Volume Splitter

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what has changed? what do you think now? both are useless? :) spare me few tries and errors :) I'll buy you a beer :)

 

no I simply plotted CVD with B/A and U/D ticks for couple of weeks.. and I couldnt trade ticks.. just makes no sense..

 

I talked about Fulcrum CVD all the way.. I dont care about other "studies".

 

IMHO - All studies are crap if they can be found publicly :rofl:

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no I simply plotted CVD with B/A and U/D ticks for couple of weeks.. and I couldnt trade ticks.

 

 

Your rigour impresses me. :)

 

Read some of the papers I mentioned, you know what? There are even better algorithms than plain old V@B/A out there. (as they are algorithms they will improve any approach that is based on algorithmically trying to determine trade direction......like CVD).

 

It's not about 'studies' per se it's about determining order flow (and hence inventory in Fulcrums case). I wonder what your motivation for posting are if you think all studies are crap? I guess you are saying CVD is worthless too (seeing as it can be found publicly)? If that is your sincere belief we'd all be better off not posting in case we destroy something valuable by making it public :). I suspect really it is more about being provocative like your old mate UB.

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contrary to UB I dont seek attention.

 

yes you r right what I believe is irrelevant here. can you edit my post and remover last sentense? i dont see button Edit for myself ..

 

P.S. tell me about other algorithms.. are they publicly accessible? ;)

Edited by maxima

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sooo. BlowFish.. when it comes to share knowledge you are nowhere to find...

 

what studies shows better direction of markets than bid/ask CVD?

 

cant hear ya!

 

oh.. I see you are here not to share trading knowledge but to simply keep conversations going.. like discussing things you have no idea about like digital signal processing, sampling, differential processes, .net garbage collector...

 

you are a naked king dear.. king of wikipedia and cheap web forums.

 

and yeah. until you answer my question about the studies I am not going to react on your messages. so spare yourself breath flaming here.

 

I dont care.

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That's rich :) firstly I suggest reading this thread from the beginning there is a lot of information in it and information where you can find more. (plus some TS code that I shared if I remember correctly). If you are still stuck after reading it drop me a line. though you will probably need to retract your statement first.

 

Took a long weekend sorry that did not suit you schedule, I'll check it's OK next time....or I could just put you on ignore.....hmm let me think on that, had a very long lunch and wouldn't want to make any hasty decisions.

Edited by BlowFish

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There are even better algorithms than plain old V@B/A out there. (as they are algorithms they will improve any approach that is based on algorithmically trying to determine trade direction......like CVD).

I cant retract anything. it seems it has a timeout for that. but frankly - I didnt touch your personality until you started to pick on me. i dont give a shit if you dont like me. if you cant keep yourself not personally involved this is not my problem.

 

on the topic:

I am asking only to name the things you noted in there. I'll find the information. Need the names of the algorithms.

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I cant retract anything. it seems it has a timeout for that. but frankly - I didnt touch your personality until you started to pick on me. i dont give a shit if you dont like me. if you cant keep yourself not personally involved this is not my problem.

 

on the topic:

I am asking only to name the things you noted in there. I'll find the information. Need the names of the algorithms.

 

C'est la vie, I was just a bit gob smacked that you though my contribution to this thread (or was it the site in general?) was lacking. That was another reason why I suggested you re-read it. I should respectfully remind you that no one here owes you anything. I dunno maybe ET would be a better venue for your style of forum participation?

 

As I have said numerous times it all stems from Lee & Readys research 20 odd years ago. Start there and go where it will take you. There has been a fair amount done on the subject but it is easily digestible by someone with the desire to digest it. I am not going to chew swallow and digest it all for you. That seems like it would be academic as you seem have strong preconceptions already (which is your prerogative of course).

 

I am surprised you are that interested tbh having previously stated that you thought stuff that was in the public domain was worthless. Again I am left wondering about your motivation.

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just to summarise (not to criticise):you reffered to Lee & Readys exclusivelly when you said - better algorithms to find market direction? thanks. I'll have a look....

 

and yeah - save your time trying to analyse me. spend it on trading better. I didnt touch you, you dont touch me. is that simple... as you rightly mentioned - you dont owe me, but dont forget I dont owe you ... I dont like you either but I was trying hard to keep silence.

 

and stop this wording games BS - when did I ask to chew for me? I said give me the name I'll do the rest.... just stop it OK?

 

keep it in professional way.

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Woops way to completely balls up :crap: I only changed a couple of lines and managed to get an additional end statement and undefined variable (block) as you guys pointed out. It's got to the stage where it needs a tidy up (as well as comments) but this should at least run

 


inputs: 
UpColor(darkgreen), 
DownColor(red), 
DeltaBar(1), 
MaxBlock(9999),
MinBlock(0),
ResetDeltaEachBar(0); 

variables: 
MyVol(0), 
Block(0),
color(yellow), 
intrabarpersist MyCurrentBar(0), 
intrabarpersist VolumeAtBid(0), 
intrabarpersist VolumeAtAsk(0), 
intrabarpersist BAVolRatio(0), 
intrabarpersist VolTmp(0), 
intrabarpersist Delta (0), 
intrabarpersist DeltaH (0), 
intrabarpersist DeltaL (0), 
intrabarpersist DeltaO (0); 

if LastBarOnChart then begin 
  	MyVol = Iff(BarType < 2, Ticks, Volume); 
if CurrentBar > MyCurrentBar then begin 
	VolumeAtBid = 0; 
	VolumeAtAsk = 0; 
	BAVolRatio = 0; 
	VolTmp = 0; 
	MyCurrentBar = CurrentBar; 
	if ResetDeltaEachbar = 1 then Delta =0;
	DeltaO = Delta; 
	DeltaH = Delta; 
	DeltaL = Delta; 
end; 
Block = Myvol - VolTmp;
if (Block >= MinBlock) and (Block <= MaxBlock) then
	if Close <= InsideBid then
		Delta  = Delta - MyVol + VolTmp
	else if Close >= InsideAsk then 
		Delta = Delta + MyVol - VolTmp ;  
	VolTmp = MyVol ;
end; 


DeltaH = maxlist(DeltaH, Delta); 
DeltaL = minlist(DeltaL, Delta); 


if Delta <= 0 then color = DownColor else color = UpColor; 

plot1(DeltaO, "DO"); 
Plot2(DeltaH, "DH"); 
Plot3(DeltaL, "DL"); 
plot4(Delta, "DC");	 

 

I am new to easylanguage, please help my questions and comments below -

 

Questions -

1. What's the purpose of the (if LastBarOnChart) block, is it to make sure that this indicator only works on real-time data?

 

2. If this indicator is inserted into a 100-tick chart, how often(frequency) tradestation charting engine invokes this logic? every 1 tick?

 

3. Is it possible to replace MyVol = Iff(BarType < 2, Ticks, Volume);

with MyVol = Volume for 100-tick chart.

 

Comments:

1. BARatio, VolumeAtAsk, VolumeAtBid are not used in the code, they could be removed;

2. cumulative volume(delta) calculation should also consider the relationship of the current bar close price with previous bar close price;

 

Thanks!!!

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I am new to easylanguage, please help my questions and comments below -

 

Questions -

1. What's the purpose of the (if LastBarOnChart) block, is it to make sure that this indicator only works on real-time data?

 

2. If this indicator is inserted into a 100-tick chart, how often(frequency) tradestation charting engine invokes this logic? every 1 tick?

 

3. Is it possible to replace MyVol = Iff(BarType < 2, Ticks, Volume);

with MyVol = Volume for 100-tick chart.

 

Comments:

1. BARatio, VolumeAtAsk, VolumeAtBid are not used in the code, they could be removed;

2. cumulative volume(delta) calculation should also consider the relationship of the current bar close price with previous bar close price;

 

Thanks!!!

 

In short 1) Yes

2)Yes, you must set indicator to update every tick

3) Yup that line should limit the indicator to intraday charts. Not really necessary I guess.

 

Yes it was code I hacked together as I said up top. It needs a good tidy up comments etc.

 

Cumulative delta has nothing to do with bar closes it is simply compares volume transacted@bid with that transacted@ask print by print.

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do you think this indicatory would be better applied to 1tick chart o 1contract chart?? this is what I have run across:

 

Infact if You use 1 contract chart and the market trades 1000 lots @ the ASK side which is Upper then the previous close, MC register this trade as an Uptick and You can plot a 1000 lots trade @ the ASK side as an UpTick. So based on this example, if you create a cumulative sequence of trades based on volume, you can have a Cumulative Delta Volume. Be careful because with 1 contract chart, it's a good stuff only reffered to a brief time lap (about 30minute to 1 Hour MAX).

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Woops way to completely balls up :crap: I only changed a couple of lines and managed to get an additional end statement and undefined variable (block) as you guys pointed out. It's got to the stage where it needs a tidy up (as well as comments) but this should at least run

 


inputs: 
UpColor(darkgreen), 
DownColor(red), 
DeltaBar(1), 
MaxBlock(9999),
MinBlock(0),
ResetDeltaEachBar(0); 

variables: 
MyVol(0), 
Block(0),
color(yellow), 
intrabarpersist MyCurrentBar(0), 
intrabarpersist VolumeAtBid(0), 
intrabarpersist VolumeAtAsk(0), 
intrabarpersist BAVolRatio(0), 
intrabarpersist VolTmp(0), 
intrabarpersist Delta (0), 
intrabarpersist DeltaH (0), 
intrabarpersist DeltaL (0), 
intrabarpersist DeltaO (0); 

if LastBarOnChart then begin 
  	MyVol = Iff(BarType < 2, Ticks, Volume); 
if CurrentBar > MyCurrentBar then begin 
	VolumeAtBid = 0; 
	VolumeAtAsk = 0; 
	BAVolRatio = 0; 
	VolTmp = 0; 
	MyCurrentBar = CurrentBar; 
	if ResetDeltaEachbar = 1 then Delta =0;
	DeltaO = Delta; 
	DeltaH = Delta; 
	DeltaL = Delta; 
end; 
Block = Myvol - VolTmp;
if (Block >= MinBlock) and (Block <= MaxBlock) then
	if Close <= InsideBid then
		Delta  = Delta - MyVol + VolTmp
	else if Close >= InsideAsk then 
		Delta = Delta + MyVol - VolTmp ;  
	VolTmp = MyVol ;
end; 


DeltaH = maxlist(DeltaH, Delta); 
DeltaL = minlist(DeltaL, Delta); 


if Delta <= 0 then color = DownColor else color = UpColor; 

plot1(DeltaO, "DO"); 
Plot2(DeltaH, "DH"); 
Plot3(DeltaL, "DL"); 
plot4(Delta, "DC");	 

 

Hello, I'm new to this forum.

I see this code and I think that it is better to change this line:

 


if Close <= InsideBid then
		Delta  = Delta - MyVol + VolTmp
	else if Close >= InsideAsk then 
		Delta = Delta + MyVol - VolTmp ;  
	VolTmp = MyVol ;
end; 

 

with this one:

 


if ticks>=filtro then begin
	if Close>= insideask then Delta=Delta+Ticks;
	if Close<= insidebid then Delta=Delta-Ticks;
end;

 

in this way I'have the real sum of volume exchanged in bidside less the volume exchanged in askside.

Is it correct?

 

MARCO

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Woops way to completely balls up :crap: I only changed a couple of lines and managed to get an additional end statement and undefined variable (block) as you guys pointed out. It's got to the stage where it needs a tidy up (as well as comments) but this should at least run

 


inputs: 
UpColor(darkgreen), 
DownColor(red), 
DeltaBar(1), 
MaxBlock(9999),
MinBlock(0),
ResetDeltaEachBar(0); 

variables: 
MyVol(0), 
Block(0),
color(yellow), 
intrabarpersist MyCurrentBar(0), 
intrabarpersist VolumeAtBid(0), 
intrabarpersist VolumeAtAsk(0), 
intrabarpersist BAVolRatio(0), 
intrabarpersist VolTmp(0), 
intrabarpersist Delta (0), 
intrabarpersist DeltaH (0), 
intrabarpersist DeltaL (0), 
intrabarpersist DeltaO (0); 

if LastBarOnChart then begin 
  	MyVol = Iff(BarType < 2, Ticks, Volume); 
if CurrentBar > MyCurrentBar then begin 
	VolumeAtBid = 0; 
	VolumeAtAsk = 0; 
	BAVolRatio = 0; 
	VolTmp = 0; 
	MyCurrentBar = CurrentBar; 
	if ResetDeltaEachbar = 1 then Delta =0;
	DeltaO = Delta; 
	DeltaH = Delta; 
	DeltaL = Delta; 
end; 
Block = Myvol - VolTmp;
if (Block >= MinBlock) and (Block <= MaxBlock) then
	if Close <= InsideBid then
		Delta  = Delta - MyVol + VolTmp
	else if Close >= InsideAsk then 
		Delta = Delta + MyVol - VolTmp ;  
	VolTmp = MyVol ;
end; 


DeltaH = maxlist(DeltaH, Delta); 
DeltaL = minlist(DeltaL, Delta); 


if Delta <= 0 then color = DownColor else color = UpColor; 

plot1(DeltaO, "DO"); 
Plot2(DeltaH, "DH"); 
Plot3(DeltaL, "DL"); 
plot4(Delta, "DC");	 

 

Hello, I'm new to this forum.

I see this code and I think that it is better to change this line:

 


if Close <= InsideBid then
		Delta  = Delta - MyVol + VolTmp
	else if Close >= InsideAsk then 
		Delta = Delta + MyVol - VolTmp ;  
	VolTmp = MyVol ;
end; 

 

with this one:

 


if ticks>=filtro then begin
	if Close>= insideask then Delta=Delta+Ticks;
	if Close<= insidebid then Delta=Delta-Ticks;
end;

 

in this way I'have the real sum of volume exchanged in bidside less the volume exchanged in askside.

Is it correct?

 

MARCO

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Dunno what filtro is? By the way the indicator works on volume traded not ticks.

 

Feel free to change it to suit your needs but I think it is correct (with the caveats earlier in the thread) as it is. Of course I have been known to be wrong :D

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Hello BlowFish and thank for your answer.

Filtro can be used if you want to see only traded volume greater than a preset value, but is not so important.

Furthermore in multicharts if the "Build Volume On" of the instrument is set to "trade Volume" and not to "Tick count" the instruction

MyVolume=Ticks

give you the volume traded for every tick.

In your code there is this line

MyVol = Iff(BarType < 2, Ticks, Volume); 

 

that is the same thing of

MyVol=Ticks 

for intraday and tick by tick charts

 

My dude is for this line

 

if Close <= InsideBid then
		Delta  = Delta - MyVol + VolTmp

 

and this one

 

else if Close >= InsideAsk then 
		Delta = Delta + MyVol - VolTmp ;  

 

where VolTmp is previous volume traded.

 

In "Close<=InsideBid" case, volume is traded in Bidside so it is correct to subctrat MyVol from Delta, but I can't understand why you add the previous volume (VolTmp) regardless of it was traded in bidside or in askside (because the line:"Close <= InsideBid" is only referred to the last volume exchanged that is MyVol).

The same thing happen for the line "Close >= InsideAsk

Can you explain that?

 

I hope you understand me, my english is not so good!:crap:

Thanks,

byebye

MARCO

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Hello !

I have been trying to download Volume Splitter Indicator for Ninjatrader 7 but it doesn't work.

Please, could you upload it again please?

I spent days but nothing.

 

And, anybody know an alternative indicator (for Ninjatrader 7) that Show the "Short" and "Long" positions? I'm not talking about ask and bid side... I would like to know the shorts and the longs of a frame of time.

 

Thanks a lot!

 

D

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Here you go...be aware of the issues with insidebid insideask (they are discussed earlier in the thread

 

 
inputs: 
UpColor(darkgreen), 
DownColor(red), 
DeltaBar(1), 
MaxBlock(9999),
MinBlock(0),
ResetDeltaEachBar(0); 

variables: 
MyVol(0), 
Block(0),
color(yellow), 
intrabarpersist MyCurrentBar(0), 
intrabarpersist VolumeAtBid(0), 
intrabarpersist VolumeAtAsk(0), 
intrabarpersist BAVolRatio(0), 
intrabarpersist VolTmp(0), 
intrabarpersist Delta (0), 
intrabarpersist DeltaH (0), 
intrabarpersist DeltaL (0), 
intrabarpersist DeltaO (0); 

if LastBarOnChart then begin 
  	MyVol = Iff(BarType < 2, Ticks, Volume); 
if CurrentBar > MyCurrentBar then begin 
	VolumeAtBid = 0; 
	VolumeAtAsk = 0; 
	BAVolRatio = 0; 
	VolTmp = 0; 
	MyCurrentBar = CurrentBar; 
	if ResetDeltaEachbar = 1 then Delta =0;
	DeltaO = Delta; 
	DeltaH = Delta; 
	DeltaL = Delta; 
end; 
Block = Myvol - VolTmp;
if (Block >= MinBlock) and (Block <= MaxBlock) then
	if Close <= InsideBid then
		Delta  = Delta - MyVol + VolTmp
	else if Close >= InsideAsk then 
		Delta = Delta + MyVol - VolTmp ;  
	VolTmp = MyVol ;
end; 


DeltaH = maxlist(DeltaH, Delta); 
DeltaL = minlist(DeltaL, Delta); 


if Delta <= 0 then color = DownColor else color = UpColor; 

plot1(DeltaO, "DO"); 
Plot2(DeltaH, "DH"); 
Plot3(DeltaL, "DL"); 
plot4(Delta, "DC");

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Here you go...be aware of the issues with insidebid insideask (they are discussed earlier in the thread

 

Thanks BlowFIsh. I think that when there are nre improvmente or find a solution the new cersion will be posted.

 

What are in tour opinion other indicators to help analisys by volume?

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Blowfish, the VOL_Splitt_OHLC_C & VOL_Splitt_OHLC are nice. What would the setting be for each in forex and then equities.A ball park figure would be nice.Anybody else here in the forums input would be welcome too.The default is 1,9999

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OHLC C seems to work the best. Insert indicator twice and set each to their proper settings. Wait till they split together then make your move. A bing and a bang and a boom! Notice the last picture when the big boys go against the little boys. This indicator can help you stay out of bad moves.

Volume_Splitter.jpg.e7b39d0f8531e23c5dc64813705e55e7.jpg

Volume_Splitter-1.jpg.5ac88ce36bf7015801834c15cc7df1ba.jpg

Volume_Splitter-2.jpg.e8c6aa2429859267476d1c0a1f7c8e13.jpg

Volume_Splitter-3.jpg.ec0feceb3fe77908b36f11257df94769.jpg

Edited by johnnydaymon

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Hello

I'm here a little late - but I have some suggestion:

Just an idea......

I thought it could be very usefull to be able to reset this indi

- at certain times

- at Pivotpoints

- all n minutes

or similar.....

so for my suggestions it could be much more helpfull then.

Any ideas how to do this ?

 

regs

Jojo

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    • Demo Trading is considered to be a learning platform for obtaining knowledge about the Market Structure in Forex. But most traders make the mistake of jumping into the market thinking that they have learned a lot by just doing a Demo, which leads them to failure.
    • Date : 18th June 2021. Market Update – June 18 – The FED still dominates. Trading Leveraged Products is risky Market News Today – USD holds on to gains (USDIndex test 92.00) US Equities mixed – (USA100 +0.87% & new ATH, USA30 -0.62%). BoJ left policy unchanged and stuck to its ultra-accommodative policy setting & extended COVID funding. JPY Inflation came in better than expected to with the CORE reading turning positive (just) for the first time since April 2020. Asian shares up but closing lower for the week. Round Number Friday – EUR down to1.1900, JPY 110.00 and Cable 1.3900. 10 yr Yields 1.51% but the spreads between US Corporate debt and US Government debt is at a 10-year low¹ – and could explain the tech rally yesterday following the Hawkish FED. Gold dived to $1770 (open the week at $1875; -5.6%) trades at $1785 now. USOil Overnight – Big beat for German PPI (1.5% vs 0.7%, & 0.8% prev.) and big miss for UK Retail Sales (-1.4% vs 1.5%, & prev: 9.2%) European Open – The September 10-year Bund future is slightly lower and in cash markets Eurozone bonds are also finding some support, although the U.S. 10-year rate has lifted 0.7 bp to 1.51% overnight. Stocks traded narrowly mixed across Asia and DAX and FTSE 100 futures are also little changed, while US futures are slightly higher, led by a 0.3% rise in the NASDAQ. With growth stabilising the tide is slowly turning, although it is clear that central banks will be taking a very, very cautious approach on tapering, with policy set to remain extremely accommodative for a long time to come. It seems unlikely that the BoE will break the line when it meets next week. – Action Economics Today – Little new news today – EU Econ Ministers meeting & Fed’s Kashkari, its also Quadruple Witching Friday (Quarterly Index & Stock Options and Futures Contracts all expire – 3rd Friday of the Quarter) Biggest FX Mover @ (06:30 GMT) NZDJPY (-0.59%) turned lower again, has been under 20-day moving average since June 3 from 78.76. Breached 78.00 yesterday and 77.00 today. Faster MAs remain aligned lower, RSI 24 & OB, MACD signal line and histogram falling and significantly below 0 line. H1 ATR 0.130 Daily ATR 0.620. Always trade with strict risk management. Your capital is the single most important aspect of your trading business. Please note that times displayed based on local time zone and are from time of writing this report. Click HERE to access the full HotForex Economic calendar. Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE! Click HERE to READ more Market news. Stuart Cowell Head Market Analyst HotForex Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
    • Date : 17th June 2021. Market Update – June 17 – BIG Surprise from the FOMC Dots. Market News Today – FED no rate change and $120bn bond buying to continue. BUT BIG hawkish surprise with plans for 2 x 0.25% rate rises in 2023 (13/18 votes), it had been 2024 and even 7/18 see rate rises in 2022. Statement increased 2021 growth to 7% from 6.5%, and inflation to 3.4% from 2.4% 3 months ago. “risks to the economic outlook remain“, rising inflation was “largely reflecting transitory factors”, recovery “significantly” dependent upon the next steps of the virus. We will taper when economy has reached “substantial further progress” will do what we can to “avoid a market reaction”. Next meeting July 27/28.   USD (91.43), Yields (1.57%) and the VIX (20.46) all rallied. Stocks (-0.54%), Commodities(-2.0%+), EM currencies & Oil($71.10) all sank. Biden-Putin – both talked tough and of a “constructive” first Summit. The thorny issues of Nuclear Weapons, (my arsenal is bigger than yours) Cybersecurity (leave us alone, we never touched you) Geopolitics (where you go we will follow) were all on the agenda. Overnight – Big beats for AUD Jobs (115.2 k vs 30.5K) & Unemployment (5.1% vs 5.5%) & NZD GDP (1.65% vs 0.5%) data. European Open – The September 10-year Bund future is down -63 ticks in catch up trade, while Treasuries have started to stabilise after the post-FOMC sell off. The slightly more hawkish stance at the Fed and stellar data out of Australia and New Zealand overnight seems to signal that markets need to prepare for a gradual withdrawal of stimulus. DAX and FTSE 100 futures are still down -0.3% and -0.4% respectively, US futures are also under pressure, after a largely weaker session in Asia overnight and a lower close on Wall Street. ECB’s Lane – “don’t be premature with assumptions over PEPP tapering” September meeting important but “a lot of data still to to come” before December. Today – Norges Bank, SNB and CBRT rate decisions, Eurozone CPI (final), US Weekly Claims, Philly Fed, CB Leading Index & ECB’s Elderson. Biggest Mover post FED @ (06:30 GMT) XAGUSD (-2.51%) turned lower again, ahead of FED after rejecting 27.80. Moved significantly below 27.00 to test of 26.56 in immediate aftermath, closed at 26.95. Faster MAs remain aligned lower, RSI 30.35 and testing OB zone, MACD signal line and histogram falling and significantly below 0 line. H1 ATR 0.210 Daily ATR 0.603. Always trade with strict risk management. Your capital is the single most important aspect of your trading business. Please note that times displayed based on local time zone and are from time of writing this report. Click HERE to access the full HotForex Economic calendar. Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE! Click HERE to READ more Market news. Stuart Cowell Head Market Analyst HotForex Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
    • I have been corresponding with a mathematically oriented gentleman who is quite brilliant in his approach to the markets but who is very close to going off the deep end. He wrote me the following email:   "I have given the 45 degree - phenomenon a lot of thought. I pretty much would like to know how you figure out the inner workings.   "What I think is:   "(a) The route of the 45 degree cuts the Elliot 3 pivot and the 4 reverse pivot in half. The retracing swing from 3 to 4 (starting off with what looks like a congestion) is the playing field of the insiders. It quickly develops into a squeeze to the downside before the final 5th wave shoots up.   "(b) Those who know what is happening, take full advantage of the less informed by jumping on their resting orders. The key is the knowledge that the 5th wave lies ahead. Then the load of contracts could be transferred to the public's 'greed-panic.'"   While I would like to agree with what he has stated above, I'm not really sure of what he actually said: Are you? I submitted the following answer:   I know virtually nothing about how to count Elliott waves or the meaning of Elliott wave counts. I have no reason to believe in them and many reasons to believe that they are nothing more than what is stated about Elliott Waves. It is a THEORY. Personally, I want to trade based on facts and the reality of what I'm seeing. My belief that Elliott Waves are virtually worthless comes from the results others have obtained from following them. I am very familiar with these results. I know that Elliott practitioners have been dead wrong about the stock market for multiple years running. Elliott wavers missed the bull market of the 1990s. I know that many times they wrongly predicted the rise and fall of the U.S. dollar. I know that people who follow Elliott Wave Theory were wrong about gold and silver for many years, predicting rises as those metals fell to multi-year lows. It is difficult for me to understand why anyone would want to trade based on a theory when they could trade based on what is plainly seen in the markets.   Author: Joe Ross     Profits from games of knowledge: https://www.predictmag.com/      
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