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.... I might want to add an accelerated pt3 at 12:40 or so for the traverse......

Yes, an accelerated traverse is probably the correct thing to do but for some inexplicable reason I didn't do it. That may have an impact upon the position of the blue p2 since the high of the 14:50 bar would be outside the rtl of the accelerated magenta traverse. The 14:35 bar would subsequently become a fanned blue traverse p3.

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Just realised. I didn't accelerate the magenta traverse because there was no VE. I think I am correct in saying that there needs to be a VE in order to accelerate a traverse.

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IMO annotating the first two down tapes the way you did would result in a tape sequence (dom, non-dom and dom) creating a completed traverse sequence on tapes ( and consequently on medium thickness gaussians as well) at 10:05 OB. The first tape is drawn to decreasing volume bar. As such it has all three Points (1,2 & 3) on the same bar - Bar 1. Bar is an increasing volume bar which makes lower low. As such we must fan to accommodate it inside the original tape trendlines ( the way dkm did on his chart that he posted). The fanned out (decelerated tape - red on dkm's chart) has it's Point 3 on Bar 3. Drawing the tape from Bar 2 to Bar 3 the way you did would result in tape having it's Point 3 on Bar 3 and consequently two trends of different slope sharing the same Point 3. I don't believe this is a possibility.

 

Thanks for the posts Roman and David. One area in which I would like to see more discussion is fractals and their effect on sequences. For instance, in the down tape from 0935 on 07/21, how does one know we did not drop to a lower fractal? Because if 1040 is a 5 min (traverse) pt 3, the initial down tape must be a 5 min (fractal) tape. TIA

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1) When differentiating each component of a traverse, would we find they are all equal, built of completed sequences ?

 

2) Are points 1, 2 and 3 on two bar tape sufficient for sequences complete to build a component ( one of the sequences ) that build a traverse ?

 

3 ) In the attached chart, are each of the sequences that build the red down traverse complete of all sequences of their own ?

5aa70f04cbbe7_spydertraverse.thumb.png.58b9159018a2024542b5864ea15ecaae.png

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IMO annotating the first two down tapes the way you did would result in a tape sequence (dom, non-dom and dom) creating a completed traverse sequence on tapes ( and consequently on medium thickness gaussians as well) at 10:05 OB. The first tape is drawn to decreasing volume bar. As such it has all three Points (1,2 & 3) on the same bar - Bar 1. Bar is an increasing volume bar which makes lower low. As such we must fan to accommodate it inside the original tape trendlines ( the way dkm did on his chart that he posted). The fanned out (decelerated tape - red on dkm's chart) has it's Point 3 on Bar 3. Drawing the tape from Bar 2 to Bar 3 the way you did would result in tape having it's Point 3 on Bar 3 and consequently two trends of different slope sharing the same Point 3. I don't believe this is a possibility.

 

Hi romanus,

I believe you posted a valuable message. However, I have problem to understand what you mean. Could you provide a chart with notes to explain your thoughts ? TIA

5aa70f04e7d19_TapeDrawing.thumb.gif.db61bbe073d13441e246958058adb7f2.gif

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Just realised. I didn't accelerate the magenta traverse because there was no VE. I think I am correct in saying that there needs to be a VE in order to accelerate a traverse.

 

When we have a VE we almost always have or get an accelerated point 3. But not sure if the reverse applies, always needing the VE, as we could just FTT instead.

 

As I take another look it might be more of an acceleration of the tape which did have a VE, but the left to right movement (lateral tape) may not have everything required for a non-dom tape - so it wouldn't be an accelerated traverse. Not sure just another view to work through.

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...One area in which I would like to see more discussion is fractals and their effect on sequences. For instance, in the down tape from 0935 on 07/21, how does one know we did not drop to a lower fractal? Because if 1040 is a 5 min (traverse) pt 3, the initial down tape must be a 5 min (fractal) tape. TIA

 

I may be wrong but I think the idea here is to consider tapes, traverses and channels as the ONLY fractals. By keeping to only 3 fractals we can hopefully avoid the confusion that came from the concept of "dropping a fractal".

 

On 07/21, we begin with a 2 bar tape from 0935 to 0940. The 0945 stitch bar ve's the tape with irv and allows us to fan the initial tape to the high of 0945 and clone the new rtl to the low of 0945. The next 3 bars all close inside our tape. We then get the OB at 1005 and we draw a new tape to the OB, giving us a steeper tape rtl. Until we get a close outside our tape rtl we have to consider all of this price movement since 0935 as "one tape" moving from p1 to p2 of our traverse. The 10:20 bar closes outside our tape and begins our new tape to the traverse p3.

 

If any of this is incorrect I am hoping that spyder will clarify.

clip.png.196a3316f01ed189bd09ebc5a06daaca.png

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David,

 

It's driving me nutz. The 'dashed line' channels that you have on your snippet, are they drawn using Pepe's tool or something else? If Pepe's tool is the source, how did you do this?

 

Sorry all for the software question. A bit off topic but hopefully perceived as practical.

 

TIA

 

lj

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I may be wrong but I think the idea here is to consider tapes, traverses and channels as the ONLY fractals. By keeping to only 3 fractals we can hopefully avoid the confusion that came from the concept of "dropping a fractal".

 

David, thanks for your response. I get the three fractal concept of tapes, traverses, and channels. And I too would like to avoid the confusion of dropping a fractal. But it seems inevitable to me that there are occasions when we have to consider that there are multiple fractals that must complete before we have a completed 5 min tape. IOW, I thought that's why we cannot go by appearances alone, ie some tapes look like traverses etc because we're waiting for faster fractals to complete. I may have wondered off the reservation here, and if so I hope Spyder or others will chime in and set me straight.

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I hope Spyder or others will chime in and set me straight.

 

As stated in this post...

 

Three choices exist, and we call these three choices tapes, traverses and channels (skinny, medium and thick; or L1, L2 & L3 if you prefer different nomenclature).

 

No more 'Chubby' tapes.

No more 'Faster Fractal' Traverses.

No more Lateral 'Movement.'

 

Tapes build Traverses and Traverses Build Channels.

 

HTH.

 

- Spydertrader

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David, thanks for your response. I get the three fractal concept of tapes, traverses, and channels. And I too would like to avoid the confusion of dropping a fractal. But it seems inevitable to me that there are occasions when we have to consider that there are multiple fractals that must complete before we have a completed 5 min tape. IOW, I thought that's why we cannot go by appearances alone, ie some tapes look like traverses etc because we're waiting for faster fractals to complete. I may have wondered off the reservation here, and if so I hope Spyder or others will chime in and set me straight.

 

I agree. "Tapes" may have 'kinks' which is what I believe Spyder said in the post following your most recent post.

 

lj

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I may be wrong but I think the idea here is to consider tapes, traverses and channels as the ONLY fractals. By keeping to only 3 fractals we can hopefully avoid the confusion that came from the concept of "dropping a fractal".

 

On 07/21, we begin with a 2 bar tape from 0935 to 0940. The 0945 stitch bar ve's the tape with irv and allows us to fan the initial tape to the high of 0945 and clone the new rtl to the low of 0945. The next 3 bars all close inside our tape. We then get the OB at 1005 and we draw a new tape to the OB, giving us a steeper tape rtl. Until we get a close outside our tape rtl we have to consider all of this price movement since 0935 as "one tape" moving from p1 to p2 of our traverse. The 10:20 bar closes outside our tape and begins our new tape to the traverse p3.

 

If any of this is incorrect I am hoping that spyder will clarify.

 

This is not Spyder. Let me repeat - this is not Spyder.

 

Question. Why is no attention being paid to the honking big OB at position 7? If you fan the RTL out to include this bar (romanus posted this somewhere else) then bar 9 becomes an 'LTL' bar, not a 'VE' bar though, and definitely not an FTT of any 'expanded, tape-like structure' drawn up to bar 9. Per romanus' take on things, this can't be a P2 of a 5 min ES traverse, IF an LTL bar is to be treated like a VE bar.

 

If it is, then what we have is a muy grande downtape which finally bugs out in the opposite direction at 13:10.

 

FWIW it has been my experiece with Spyder that if everyone on the thread is tearing their hair out in frustration, he will step in. Similarly if someone actually answers one of his questions, he will step in. Otherwise what will usually, but not always happen, is a restatement of the obvious, which in this case means something that was said tens of posts ago.

 

lj

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"Tapes" may have 'kinks' which is what I believe Spyder said in the post following your most recent post.

 

Spyder said no such thing.

 

The market has no anomolies, kinks, irregularities or unresolved circumstances.

 

B2B 2R 2B

R2R 2B 2R

 

That's it.

 

Possible problem areas for people to perfom a mirror check ...

 

1. Do I understand the definition of the word fractal?

2. Do I apply said defintion onto the market in a consistant fashion?

 

HTH.

 

- Spydertrder

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Hi romanus,

I believe you posted a valuable message. However, I have problem to understand what you mean. Could you provide a chart with notes to explain your thoughts ? TIA

See attached. Also see Tiki's and dkm's charts I referenced in the original post.

5aa70f053d04e_Tape20Drawing.thumb.gif.fb17f3c421dae2e9aa1031f1ee0b573b.gif

Edited by romanus

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...

Question. Why is no attention being paid to the honking big OB at position 7? If you fan the RTL out to include this bar (romanus posted this somewhere else) then bar 9 becomes an 'LTL' bar, not a 'VE' bar though, and definitely not an FTT of any 'expanded, tape-like structure' drawn up to bar 9. Per romanus' take on things, this can't be a P2 of a 5 min ES traverse, IF an LTL bar is to be treated like a VE bar.

 

...

 

Drawing a down tape from Bar # 6 TO the OB (Bar # 7) and fanning it (decellerating) to include increasing red volume Bar # 9 will produce an LTL which Bar # 9 failed to reach.

 

For an FTT to exist there must be a valid LTL which that FTT failed to reach. The definition of the valid LTL is supplied by the market itself. It appears to me that the tape drawn to increasing volume bar meets that definition (perhaps because Points 1 and 3 reside on separate bars - and therefore one can consider it a trend, versus a tape drawn to decreasing volume bar, which has points 1 and 3 on the same first bar of the tape).

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Spyder said no such thing.

 

The market has no anomalies, kinks, irregularities or unresolved circumstances.

 

B2B 2R 2B

R2R 2B 2R

 

That's it.

 

Possible problem areas for people to perfom a mirror check ...

 

1. Do I understand the definition of the word fractal?

2. Do I apply said defintion onto the market in a consistent fashion?

 

HTH.

 

- Spydertrder

 

The kink I am referring to is a geometric construct composed of collections of parallel lines with angles between sets of parallel lines. You can then draw a another set of parallel lines around those sets of points and lines and construct a tape.

 

There is no argument about the Gaussian series.

 

There is no statement by me intended or implied about anomalies, irregularities or unresolved circumstances with respect to what plays out in the market.

 

lj

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Drawing a down tape from Bar # 6 TO the OB (Bar # 7) and fanning it (decellerating) to include increasing red volume Bar # 9 will produce an LTL which Bar # 9 failed to reach.

 

For an FTT to exist there must be a valid LTL which that FTT failed to reach. The definition of the valid LTL is supplied by the market itself. It appears to me that the tape drawn to increasing volume bar meets that definition (perhaps because Points 1 and 3 reside on separate bars - and therefore one can consider it a trend, versus a tape drawn to decreasing volume bar, which has points 1 and 3 on the same first bar of the tape).

 

I'm talking about fanning from bar 1 to bar 7. Although not shown on the snippet there is a CO RTL which lies below bar 9. There are other considerations which further permit one to consider the possibility that bar 9 is not an ES 5 min P2.

 

lj

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It appears you continue to miss my point.

 

Whatever something "looks like" in the Price Pane falls under the catagory of unimportant because a tape does not ever look like a traverse (or anything else) when observing the Volume Pane.

 

You can call something a tape, traverse or channel (hell, call it a goat if you like) by looking at a Price Pane, but Volume always indicates exactly what the market has built for you to see.

 

Without exception.

 

Three choices exist, and we call these three choices tapes, traverses and channels (skinny, medium and thick; or L1, L2 & L3 if you prefer different nomenclature).

 

No more 'Chubby' tapes.

No more 'Faster Fractal' Traverses.

No more Lateral 'Movement.'

 

Tapes build Traverses and Traverses Build Channels.

 

Again, whatever something "looks like" in the Price pane does not matter in the slightest. The Gaussians always tell you what the market has created.

 

Without a doubt, if asked, a roomful of traders would provide as many answers with respect to what the market created across most of today (7-20-2009). Again, if one chooses to look at what today's 'something' "looks like" by observing the Price Pane, a variety of opinions develop. However, only one possible accurate answer exists, and it resides in the signals the market has provided in The Volume Pane.

 

HTH.

 

- Spydertrader

 

 

While I do understand that volume is the most important part of a chart, do we still need price for context? ie price must leave a traverse on increasing volume, and pt2 must be outside the previouse traverse (and gaussians still have to match channels)

 

Is anything below a traverse considered a tape?

 

While I do understand what fractals are, it seems real hard to apply this principle consistently to volume.

 

--

innersky

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While I do understand that volume is the most important part of a chart, do we still need price for context?

 

Correct.

 

Is anything below a traverse considered a tape?

 

All poodles are dogs, but not all dogs are poodles. Better to learn to define something by what it is, rather than, by what it is not.

 

While I do understand what fractals are, it seems real hard to apply this principle consistently to volume.

 

The very same sequences repeat over and over again, every day, all day long. Nothing changes. You've known them for years.

 

No need to overcomplicate things.

 

Take it step by step, and you'll soon begin to see how the subtle differences create monumental changes in the information signalled to you from the market.

 

- Spdyertrader

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....one possible accurate answer exists, and it resides in the signals the market has provided in The Volume Pane.

 

- Spydertrader

 

Do you mean signals provided by the Gaussian sequences or the the volume bars themselves?

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Do you mean signals provided by the Gaussian sequences or the the volume bars themselves?

 

Depending on the context, the answer comes from the former, the latter or both.

 

- Spydertrader

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Spyder said no such thing.

 

The market has no anomolies, kinks, irregularities or unresolved circumstances.

 

B2B 2R 2B

R2R 2B 2R

 

That's it.

 

Possible problem areas for people to perfom a mirror check ...

 

1. Do I understand the definition of the word fractal?

2. Do I apply said defintion onto the market in a consistant fashion?

 

HTH.

 

- Spydertrder

 

I wonder about 1. I have spent a fair amount of time trying to undertand fractals and there application to financial data series. It seems pretty clear that a single fractal dimension can not describe financial data series. They are in fact multifractals i.e the fractal dimension is not constant.

 

I wonder if it actually matters or not but refering people to investigate fractals is likely to add to their confusion rather than bring clarity. It might help to spell out which properties are the important ones?

 

Another one is Gaussian. Not only was Gauss prolific himslef many theories have 'gauss' in the title as subsequent mathmaticians honoured him. I wonder if it is to do with guassian distributions? (which would tie in with fractals). Financial data series absolutely do not have gaussian distributions.

 

It may well have no baring on the effiacy of the method but it perhaps is no wonder people loose track when things are tied into reoneous 'pseudo maths'.

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I wonder about 1. I have spent a fair amount of time trying to undertand fractals and there application to financial data series. It seems pretty clear that a single fractal dimension can not describe financial data series.

 

Fractal One: Thin Lines - "Short Term Trend" (aka 'Tape')

Fractal Two: Medium Lines - "Intermediate Term Trend" (aka 'Traverse')

Fractal Three: Thick Lines - "Longer Term Trend" (aka 'Channel')

 

Each of the above three fractals does in fact describe, in a crystal clear fashion, a financial data series. Since trends overlap, so too do we see each of the above three fractals overlap.

 

They are in fact multifractals i.e the fractal dimension is not constant.

 

See Attached.

 

R2R 2B 2R or B2B 2R 2B always remains constant. By definition, the components of one fractal exist on all fractals - irrespective of scale. Applying the fractal rules in a consistant fashion represents a challange most people face.

 

I wonder if it actually matters or not but refering people to investigate fractals is likely to add to their confusion rather than bring clarity. It might help to spell out which properties are the important ones?

 

I have not "instructed people to investigate fractals." I have instructed people to "understand the definition" of the word - a definition I posted several times - including linking to pictures of same (for those more visually oriented).

 

I wonder if it is to do with guassian distributions? (which would tie in with fractals). Financial data series absolutely do not have gaussian distributions.

 

If the word "Gaussian" provides you difficulty, replace the word with another. Hiking up and down Volume Mountains provides the same mental picture. However, take care not to add words which did not exist in the original discussion. The word Gaussian stands alone, and does not require, nor should one include, the word 'distributions' in the discussion.

 

HTH.

 

- Spydertrader

 

attachment.php?attachmentid=12399&stc=1&d=1248363567

Volume.jpg.b0d6b0acc9202b9806020cf7d8ef5b19.jpg

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Drawing "correct" gaussians continues to be a headache. Unsure as to when this morning's B2B actually ended (i.e. we have arrived at p2). Now thinking that maybe 11:20 is the real p2. Unsure what to do regarding the gaussians at any level through the lat from 11:20. I think a gaussian lesson or two is in order.

20090723b.thumb.png.11421cc1368667ebb8cbe3eddb388f60.png

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    • Date : 27th October 2021. Market Update – October 27 – Yields up,Robust USD. USD (USDIndex 93.84) – topped at 94 before retracing to 93.84 in Asia session.Wall Street rallied to more new highs on the USA500 and USA30, with the USA100 closing in on its peak, before gains faded. Solid earnings continued to underpin optimism, and stronger than expected confidence and housing data helped too. – rekindled Fed tightening fears. The long end of the market saw yields dip, overlooking the inflation jump as the longer term outlook is still benign. The 10-year Treasury yield has moved up 1.4 bp to 1.622%. Australia’s 10-year rate moved up and the 3-year jumped nearly 16 bp after core inflation came in higher than anticipated and reached a 6 year high in data for the third quarter. FT: Alphabet and Microsoft smash estimates with $110bn revenue haul (+33% from Q3 2020) – surge in cloud computing, and a strong rebound in digital advertising – all eyes on US open. Big misses from Robinhood, tanking its shares – closed at 40.09. Evergrande in focus again as authorities called on billionaire Hui Ka Yan to use his personal wealth to support China Evergrande Group. Chinese authorities called on companies to make “active preparations” to meet payments on offshore bonds. – sell-off in seven weeks for Chinese tech shares. German import price inflation hit 17.7% in September – The breakdown showed that energy prices remain the main driving factor, & that the shortage of natural gas and the spike in oil prices are not the only problems hitting supply chains, with supply shortages likely to keep prices elevated into next year. USOil steadied around $82 – $83. Gold dipped on robust USD, higher yields and ahead of central banks, at $1785. FX markets – EURUSD 1.1600, Cable bounced 1.3774, USDJPY – 114 from 114.30. Today – US Durables and BoC rate decision and conference. Earnings: Thermo Fisher, Coca-Cola, McDonald’s, Sony, ServiceNow, Bristol-Myers Squibb, Boeing, GlaxoSmithKline, ADP, GM, Old Dominion, CME, Edwards Lifesciences, Norfolk Southern, Twilio, Ford, General Dynamics, KLA Corp., eBay. Biggest FX Mover @ (06:30 GMT) AUDUSD (+40%) – spiked at 0.7535, faster MAs rising and RSI at 60. Fast MACD signal line & histogram keep rising, implying further rise in the short term. 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. Andria Pichidi 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 : 26th October 2021. Market Update – October 26 – Bonds and stocks rallied to start the week. USD (USDIndex 93.89) – first rate hike was pushed up to June, with two quarter point tightenings priced in for 2022. Wall Street firmed too on the back of strong earnings with more new record highs on the USA500 and the USA30. Also underpinning sentiment are expectations that the fiscal package will make it out of Congress. Fed Chair Powell warned that inflation could be higher and more persistent than previously expected. US Yields – 10yr backed up 0.9 bp overnight to 1.64%. Equities mixed – USA100 paced the advances though, climbing 0.9% amid support from the slip in yields – 4582. USA100 bounced to 15602. Facebook reported mixed third quarter earnings on Monday, slightly missing revenue estimates but continuing to grow its user base. FB +2%. TSLA (+12.6%) joins the$1 trillion market cap group after 11 yrs – took AMZN 22 yrs. It’s bigger than the combined value of the next 9 biggest car makers but it sells less than 1% of world car sales. Elon Mush added $36BN to his net wealth yesterday alone. UBS beats on revenue – but sales are mixed. USOil holds up again on supply concerns & trades close to 7-year highs at $82.50. Gold spiked at $1808. FX markets – EURUSD 1.1600, Cable bounced 1.3778, USDJPY – reversed from 113.97 highs to PP at 113.86. European Open The December 10-year Bund future is down -20 ticks at 168.45, underperforming versus US futures, although in cash markets the US 10-year rate is down from overnight highs, but still up 0.4 bp at 1.63%, as a 0.5% gain in the USA100 is leading US stock futures higher. GER30 and UK100 are posting gains of 0.2% and 0.1% at the moment, after a somewhat mixed session across Asia. Today – Upcoming central bank decisions will remain in focus, with ECB and BoJ set to announce their decisions on Thursday. Earnings: Microsoft, Alphabet, Visa, Eli Lilly, Novartis, Twitter, General electric, UBS, Robinhood. Today’s economic calendar will be of interest as well, and features October consumer confidence and September new home sales. Biggest FX Mover @ (06:30 GMT) NZDJPY (-0.28%) Reversed overnight gains from 81.88 high tp currently 81.50 area. Faster MAs, RSI & Stochastic turned lower, while in contrast MACD signal line & histogram keep rising, implying to a potential limited pullback. 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. Andria Pichidi 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 : 25th October 2021. Market Update – October 25 – Big Earnings Week Ahead, USD Cooler. USD (USDIndex 93.50) cools a tad & again tests 4-wk low (93.44). PMIs biased to the upside as Powell talked taper but no rate rises yet, Democrats narrowed their differences on the $3.5b infra bill & Yellen talked new taxes. Yields hold up, Equities mixed Friday, FUTS down. Big week for Earnings – Oil up again on supply concerns, gold back to $1800. Evergrande – Restarted 10 building projects over weekend, announced move away from real estate towards EV production. US Yields (10yr closed higher at 1.665) & – now 1.6500% Equities mixed – USA500 -4.88 (-0.11%) at 4544 (NASDAQ –0.82%) – Big movers – SNAP -26.59% & INTEL -11.68%; Big Earnings misses, FB -5.05%, GOOGL & AMZN –3%, TSLA +1.75% – USA500.F back to 4540. Asian equities weaker. USOil up again on supply concerns & trades close to 7-year highs at $83.00 Gold very volatile Friday ($1782-$1813-$1793 on close) Back to pivot at $1800 now. FX markets – EURUSD 1.1650, Cable 1.3770, & USDJPY – (after a strong day on Friday (113.40 low) now at 113.60. Week Ahead Earnings from 5 x tech giants (FB today), plus major European Banks. Policy meetings from the ECB, BoJ & BOC, economic data includes US Q3 GDP & PCE. Plenty of CB speak, the UK Budget and month end too. European Open December 10-yr Bund future up 23 ticks at 168.51. DAX & FTSE 100 futures up 0.15% & 0.25% respectively. Inflation risks remained in focus as oil prices continue to climb higher while bottlenecks in supply chains lead to rising cost pressures. The combination already weighed on manufacturing PMIs last week & are likely to also depress the German Ifo confidence reading today ahead of Thursday’s ECB meeting. Fed Chair Powell signalled on Friday that inflation could stay higher for longer & that the taper is coming. ECB by contrast has pushed decisions on PEPP & APP back to the December meeting, which means this week’s ECB will be watched mainly for signals from Lagarde at the press conference. TToday – German IFO and BoE’s Tenreyro. Earnings: Michelin, Facebook, Restaurant Brands. HSBC surprises with 74% rise in Q3 profit and $2bln buyback. Biggest FX Mover @ (06:30 GMT) AUDJPY (+0.45%) Recovering from a strong day run fro JPY last week. Up from 84.50 tlow on Friday to test 85.00 now. Faster MAs aligned higher, MACD signal line & histogram rising, RSI 51 & neutral. H1 ATR 0.189, Daily ATR 0.817. 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 : 21st October 2021. Market Update – October 21 – Stocks & USD slip on big Earnings Day. USD (USDIndex 93.55) cools a tad and again tests 2-week low (93.47) Yields stronger again, Equities closed up, but FUTS are down (Nikkei -2% on stronger YEN and Yuan). Big day for Earnings – TESLA beat but revenue numbers disappointed some. Oil up on drawdown. Evergrande – Bad News $1.7bn sale of 51% of HK unit to Hopson OFF, $1.7bn sale of HK HQ OFF, $83.5m coupon default triggers tomorrow. Good News $260m bond coupon, extended by 3 mths US Yields (10yr closed higher at 1.63) & – now 1.6533% Equities moved ground higher USA500 +16 (+0.74%) at 4536 (NASDAQ –0.05%) – Big movers – Verizon +2.41% & ABBT +3.3% (PayPal – 4.91%) – USA500.F back to 4500. Asian equities weaker. New VIX contract at +1.49% at 19.60 USOil up on drawdown n strong demand at $82.00 after EIA inventories showed -400K vs build of 2.1m Gold holds at 4-day highs – $1785 FX markets – a recovering USD – EURUSD 1.1646, Cable down from 1.3830+ to 1.3800, & USDJPY – off 4-year highs and pivots at 114.00. European Open The December 10-year Bund future is down -16 ticks, US futures are also in the red. DAX and FTSE 100 futures are both down -0.45 and US futures are also in the red, with the NASDAQ underperforming again, after already closing slightly lower yesterday. Indices remain at high levels, but tapering concerns, the global energy rout and supply chain concerns are capping the outlook for global growth. Markets will continue to watch earnings reports and central bank comments, especially in the UK where officials clearly are laying the ground for an early lift off. Meanwhile the announcement of Weidmann’s departure has raised hopes that the ECB will push even more to circumvent the no-bailout clause permanently – after the end of PEPP, which already helped BTPs to outperform yesterday. Today – US Initial Jobless Claims, Philadelphia Fed Business Index, Existing Home Sales, EZ Consumer Confidence, EU Council Meeting, Fed’s Daly, Waller, RBA’s Lowe, Earnings: AT&T, Intel, American Airlines, Southwest Airlines, ABB, (bottleneck problems) Vivendi, Hermes, (beat) Pernod Ricard,(beat) Barclays, (Revenue big beat) Unilever (Sales miss). Biggest FX Mover @ (06:30 GMT) AUDJPY (-0.50%) Rejection of 86.25 this morning as Yen lifts after a very weak October. Faster MAs aligned lower, MACD signal line dips and & histogram slips significantly lower, RSI 40.00 off OS level, H1 ATR 0.189, Daily ATR 0.817. 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.
    • Meet a maverick on Blockster   Blockster is a cryptocurrency social platform.   Blockster connects everyone within the blockchain industry into one place—all the cryptocurrencies, the teams behind the projects, as well as, the traders and investors. Communicate and network with the very core of the blockchain industry, and stay ahead of the market trends via Blockster.   Get insightful posts, reviews, breaking news, interesting comments, and latest updates from the world of cryptos, from Azeez Mustapha: https://blockster.com/AzeezMustapha46102 
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