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equtrader

TA Debunked

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The cult of technical analysis and day trading seems to grow and grow. The Web is crawling with technical analysis (TA). Tax changes have created a boom in spread betting, and hundreds of courses have sprung up to teach traders to read short term 'technical' chart set ups. All of this - coupled with the ongoing use of the terminology by market commentators and practitioners - may make you wonder whether technical trading rules are profitable and worth using in your own investing? Given its popularity, is there something to all this TA, basically?

 

Rest at:

http://www.stockopedia.co.uk/content/technical-analysis-debunked-5-reasons-why-we-dont-believe-in-charting-63806/

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All interesting .....but its a bit of a tired old argument (like passive v active investing, EMH) with each side pushing their barrow.

It rather simple IMHO - you use the best tools - and thats all they are, that are available to you at the time. Whether its fundamental analysis, or technical analysis, or quant analysis.

 

FA is debunked a lot as well, especially when it comes to most people, as they dont have the resources, time, knowledge, patience, funding, ability to tell if the accounts and management are lying etc; etc.

 

I have not got any on me, but there are plenty of reports to show if you look at the fundamental calls most research analysts make they are pretty much similar to technicians - win some loose some.

 

There is more to this game than analysis, and number crunching. :2c:

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The funny thing is, in the final section of the text the author admits that TA works, as it will help with "timing of investments" and "understanding why a stock moves"... well, that's enough reason for me to use mainly TA :)

 

Also, it is not true that empirical evidence for TA is negligible. There are many well-known equity market anomalies which are recognized by efficient market theorists (that's why these are called "anomalies").

 

Though, I agree that the right, i.e. profitable, application of TA is more art than science. Hence, it is difficult for some to grasp.

 

By the way, in the first Market Wizards book there was - as far as I recall - only one pure FA guy (J. Rogers) and he had such a long investment horizon that timing was almost irrelevant (> 2 years in most cases). The rest were all TA focused guys. That says also a lot.

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Just different sides of a coin really. Focusing and choosing to prefer once side over the other helps to get at the very root of what deludes most traders. Isn't the ultimate goal to figure out the core (fundamental) aspects of what drives the market, then see what entries and exits (technical) can allow us to best extract profits?

 

We assert preferences to the market, and attach ourselves very heavily to these preferences. As long as you get to the end goal, and can duplicate the results, does it matter what adjective we use to describe the process.

 

edit: see new post

Edited by 4EverMaAT

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This is an age old argument but I would take TA on a monthly and weekly chart over any crap most fundy analysts come out with.

 

Get the bias from those high time frames trade the m15 using that bias.

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followup: the article point number 2 (Reason 2: Empirical evidence for TA is negligible) confirms what former Turtle Trader Curtis Faith emphasized that, besides ensuring the entire process of trading was mechanical (and therefore objective, testable, measurable, etc), position sizing is the most important aspect that the user has under their control. Not spending countless hours on predicting the best point of entry.

 

I eventually got the hang of this, and developed a spreadsheet to assist in formulating a proper money management strategy; one that can handle all market conditions according to the size of my trading account.

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"But if there is, it's escaped the attention of any rigorous academic study on the topic that we've come across, especially for stocks."

 

Didn't bother reading beyond this line.

 

Academics don't live in the real world. If they can't measure and quantify something, in their minds it doesn't exist.

 

My trading account says otherwise. Many others as well.

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"But if there is, it's escaped the attention of any rigorous academic study on the topic that we've come across, especially for stocks."

 

Didn't bother reading beyond this line.

 

Academics don't live in the real world. If they can't measure and quantify something, in their minds it doesn't exist.

 

My trading account says otherwise. Many others as well.

 

 

Good point!

 

I think the motivation of individuals is very important in finding a profitable application of TA. And the motivation to conduct a good academic study is a lot less powerful IMO than the motivation to earn money to make a living.

 

You can see that also in the existing studies on that subject. The approaches they test (at least the ones I saw so far) are not very creative from my point of view...

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Any academic study is probably doomed from the start because it is based on a false premise.You cannot take one element of TA in isolation and test it expecting the holy grail.

What they never seem to grasp is that there is a mix of several things a trader uses taking into account the general context.It's like they are at stage one of the learning curve with no motivation to go beyond it.It's like they are saying there is no edge in golf because the ball is way too small the hole is way too small,the distance too great and the club is awkward to use.Or that there is no edge in driving fast in formula 1 because all the cars drive fast.

They just don't ask the right questions,so there is no chance of getting the right answers.

Do they even take into account the fact that you could have several small losing trades more than cancelled out by one big winning trade?

It's not so much that they are wrong all the time,it's because they are academics that their views are given more weight by the layman against those who actually trade and know what they are talking about that irritates me.And if they are economists,forget it,everybody knows predicting is hopeless.....er i think.

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Take Fibonacci.They believe there is no edge in it but you are using it and it works.Who is right?

Every swing high and low in the market is a fib...except it isn't. (bear with me) Let's use trains,with the stations being Fibonacci levels.According to them,there is no edge in stations for a train (trader) that is forced to stop at a red light,or is delayed,or has to pass a go slow area.Wrong.The stations are there,the train has not reached it at this point.The price stopped short at this point...because duh.. it hasn't reached it yet.

So what they are telling you is that unless price travels fib to fib with no pauses in between then there is no edge.And they are also telling you that you can't tell the difference between what is a fib and what isn't.Let's not even get into the subtleties regarding the context of trend,ATR,time of day etc. and knowing which fib has the best probability today/this week/month.

To me it is an amateur layman masquerading as an expert.

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It's like they are saying there is no edge in golf because the ball is way too small the hole is way too small,the distance too great and the club is awkward to use.

 

good points - plus......Mitsubishi using a golf analogy - certain things have most certainly been debunked today!

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I don't quite understand the reasoning for constantly lighting a fire under this argument.

 

You will always have three schools of thought: those that think TA is worthless because they base their assumptions on 100 years of "witch doctor" research and testing and those that actually use it every single day to eek out profits. The third group of us are the researchers, God forbid any of us talk about the consistent returns we get from the non-typical TA we've discovered and use. Then the authors, bloggers and the "fundamentalists" come out of the woodwork screaming that NOTHING NEW CAN EVER BE DISCOVERED, "THERE IS NO SUCH THING AS PENICILLIN". Idiots. They sit with blinders on and their fingers in their ears saying . . . LA LA LA LA I can't hear you. I for one am sick and tired of this discussion.

 

If you aren't bright enought to post something stimulating that works toward the advancement of TA, don't post the same tired crappy argument again. If you are doing it to increase pages views to this site then at least be honest and state that upfront so those of us that actually trade and do our own research can stay away from the discussion like the plague.

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...

 

You cannot take one element of TA in isolation and test it expecting the holy grail.

What they never seem to grasp is that there is a mix of several things a trader uses taking into account the general context.

 

...

 

 

 

Exactly! And that is why it is difficult to analyze the way academics analyze... plus, of course, the subjective element in applying certain types of TA.

 

PS: I guess we don't get many contrarian views to our view on TA on this forum... ;)

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Reminds me of the two efficient market theorists who pass a $50 bill lying in the street. They leave it untouched and congratulate each other on realizing that if it presented an opportunity for profit someone else would have picked it up already...

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I don't quite understand the reasoning for constantly lighting a fire under this argument.

 

You will always have three schools of thought: those that think TA is worthless because they base their assumptions on 100 years of "witch doctor" research and testing and those that actually use it every single day to eek out profits. The third group of us are the researchers, God forbid any of us talk about the consistent returns we get from the non-typical TA we've discovered and use. Then the authors, bloggers and the "fundamentalists" come out of the woodwork screaming that NOTHING NEW CAN EVER BE DISCOVERED, "THERE IS NO SUCH THING AS PENICILLIN". Idiots. They sit with blinders on and their fingers in their ears saying . . . LA LA LA LA I can't hear you. I for one am sick and tired of this discussion.

 

If you aren't bright enought to post something stimulating that works toward the advancement of TA, don't post the same tired crappy argument again. If you are doing it to increase pages views to this site then at least be honest and state that upfront so those of us that actually trade and do our own research can stay away from the discussion like the plague.

 

You think we come here to amuse you?:confused: Well,let me be the first on behalf of the forum to cheer up Mr grumpy :(

Now don't get your fundamentals in a twist here....i'm just kidding around.:shrug:

But......

the problem is they think they know something that we don't know,only we know they don't really know that,...with me so far? It's what we know,that they don't know,that really counts,uh..but they don't know that,or even know that we know how important it is...to uh know that.

We know that they are doomed to fail before they even begin,but there's no way they can know that,because of the unknown knowns that we know and they don't.

They spend their time looking for the unknown unknowns,when really,we know that can't be done no matter how many letters you got after your name.

Im not breaking any new ground here...... am i?

Even the guy that works in Tescos doesn't know the future with any certainty because the future's a guess..and he knows that.I say "even" because the man in the street has more common sense in his little finger than all these experts put together...and he knows that.

Did you ever meet anyone in your life who wasn't an expert on politics..football..you name it? Very few of them bother to write a thesis though.And do you know why that is? I'll tell you why,it's because they just can't damn well be bothered.And the payoff there is they don't annoy anybody with their stupidity.And ultimately...that is wisdom...street wisdom.

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It seems that the OP (or his link anyway) is positing that TA doesn't ALL work in a consistent and repeatable way, ergo NONE of it can work. Silly flame bait. Proper TA merely reveals the record of previous buyers and sellers, who had the upper hand, and where. It is from there that one makes a leap to assume where resting orders may be or where they might come in, and who might get left holding the bag. There are obviously other moving parts to trading as well: your psychology (micro), market psychology (macro), position sizing... it's a long list of which TA is just a part. Is it a TA failure if you bet too big and bail on a temporary squiggle? Or if a half-million noobs sell a head-and-shoulders neckline break? It all goes back to my favorite comment in this forum ever ( I wish I could remember the poster) to the effect that trading aren't a magical wiggly line place- it's a market- people buying and selling. That's it. Charts are not the market. The map is not the terrain. And I would rather trust my own analysis than Cramer's.

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SunTrader is correct. I have been trading and testing systems for about 32 years, and my conclusion is that it's possible to expect 2-3% per month gains using mechanical trading systems over long periods of time through bull and bear markets with the best trading systems. This percentage may seem low to "newbies" but it's realistic.

 

However, and this is a BIG however, a mechanical, or technical trader can and will go through long periods of time (many months) with no profits and frustrating drawdown. Then, the profits return. What's going on is that all markets go through phases - trending phases and chopping phases. A trader usually makes money during the trending phases. If a market is going up it's fairly easy to make money trading from the long side. If a market is trending down, it's possible to make money trading from the short side.

 

When markets stop trending, it's likely that any trading method will lose money. So, a great deal of the success or failure of any system or method depends on the market environment.

 

And, when a market begins to trend, successful traders will be able to identify what is moving with the trend, and go along for the ride.

 

I am often asked what to buy, and I respond by saying buy what's going up, not what you think should go up. Then, I am asked when to sell, and I respond by saying that you sell when your holdings stop going up. This may, at first, seem simplistic and even ridiculous, but it works.

 

Most traders and investors take the opposite approach - they buy because they believe something should go up because of X, Y and Z. In other words, they think they are smarter than the market, than everyone else in the world who knows anything at all about the stock or commodity they are trading. And, some traders/investors ARE smarter and DO have inside information, and are able to figure out the "big picture".

 

The results of the average mutual fund or hedge fund debunk this "we are smarter" approach. The majority of funds either track or underperform the S&P. Countless studies have shown this to be true. So, this is a very difficult game for even the best and brightest.

 

Trading/investing is one of the most difficult and frustrating ways to make money. I know a couple of people who spent thousands of dollars taking courses recently on how to make money trading, and of course, they lost money.

 

For anyone who thinks they are going to get rich quickly and easily trading, I say best of luck to you, but be very, very careful and trade very small amounts of money until you are absolutely sure you know what you're doing and can take the periods of drawdown and frustration.

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There was a time when i oscillated between the two extremes of the moving average of opinion,namely FA and TA.Realizing that this left me in the middle of the channel of the debate,with the implication being there was no clear direction in my thinking,i eventually thought,oh,bollinger to this,i need a drink,for ticks sake.Retiring to the local bar,aptly named "The Red Candlestick" it occurred to me that there could be a third way to solve the problem,though it would require a clear change of trend in my thinking.I was tired of this vicious cycle in my Mind Always Culminating in Distress.

I'd weighed up the relative strength of both sides of the argument,but still concluded that 90% of traders fail.What to do? It was time to think outside the confines of the Darvas Box With my account ever shrinking,i was getting to the Pyrapoint of no return.

"just stare at the charts for 10,000 hours until you get it" they kept saying.

Well,as a person who,typically,never does things by halves,i thought they meant 10k hours continuously,without a break.Next thing i knew i was in hospital,in a coma.

I was horrified when the doctor told me that while i was asleep they'd done a blood test and had discovered the missing link between apes and man.Thankfully,this turned out to be a dream and i was soon out of the hospital and back to square one,

Then,one night when i was shaving,and thinking "jeez,my beard never used to grow this fast before",i caught sight of the full moon in the mirror......

Well i tell you,ever since i discovered moon cycles,my trading has come on in leaps and bounds.I mean,i'm getting through a hell of a lot of razors and clothes every time the full moon comes round,but hell,i can afford it.Plus i don't feel too bad when i'm compelled to open the window and howl like a demon wolf.I just remind myself that there are other guys in this world who feel compelled,every time they drive by a group of girls in their car,to stick their head outta the window and yell "oi oi..... savaloy!!"

Compared to them,how mad am i?

Thing is,no matter what you use,some other guy will tell you it's a load of shit.It's a male thing.Their car is faster than yours.Their house is bigger than yours,They earn more money than you,pull more women,can drink you under the table,have forgotten more about markets than you'll ever know...it's a male thing.No matter where you are in the chain,whether it's Goldman Sachs capturing the politicians,all the way down to the 90% losers...we haven't changed much in thousands of years,we're probably just very highly sophisticated apes.Nuking the planet or destroying capitalism and ending up back in caves would be divine symmetry for this species...in the meantime trade what you see..or what you think you see.And don't worry too much about the other guy,except when he's on the other side of your trade.

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Might not work if your analysis looks like this (from the comments under the op's link:confused:

 

You're obviously not very good at TA, Mitsubishi, as your example shows - there is clearly a bearish double top forming here - you can tell from the slope of the 483rd line. :)

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SunTrader is correct. I have been trading and testing systems for about 32 years, and my conclusion is that it's possible to expect 2-3% per month gains using mechanical trading systems over long periods of time through bull and bear markets with the best trading systems. This percentage may seem low to "newbies" but it's realistic.

 

Eqsys, there will be a lot of new traders who aren't convinced . . .

 

Any new traders reading? Here's what happens when you are able to compound a consistent 3% monthly return over a ten year period, starting with a $20K account (month down the left, equity down the right):

 

1 20000

2 20600

3 21218

4 21854.54

5 22510.1762

6 23185.48149

7 23881.04593

8 24597.47731

9 25335.40163

10 26095.46368

11 26878.32759

12 27684.67741

13 28515.21774

14 29370.67427

15 30251.7945

16 31159.34833

17 32094.12878

18 33056.95265

19 34048.66122

20 35070.12106

21 36122.22469

22 37205.89143

23 38322.06818

24 39471.73022

25 40655.88213

26 41875.55859

27 43131.82535

28 44425.78011

29 45758.55351

30 47131.31012

31 48545.24942

32 50001.60691

33 51501.65511

34 53046.70477

35 54638.10591

36 56277.24909

37 57965.56656

38 59704.53356

39 61495.66956

40 63340.53965

41 65240.75584

42 67197.97852

43 69213.91787

44 71290.33541

45 73429.04547

46 75631.91683

47 77900.87434

48 80237.90057

49 82645.03759

50 85124.38871

51 87678.12037

52 90308.46399

53 93017.7179

54 95808.24944

55 98682.49693

56 101642.9718

57 104692.261

58 107833.0288

59 111068.0197

60 114400.0603

61 117832.0621

62 121367.0239

63 125008.0347

64 128758.2757

65 132621.024

66 136599.6547

67 140697.6443

68 144918.5737

69 149266.1309

70 153744.1148

71 158356.4382

72 163107.1314

73 168000.3453

74 173040.3557

75 178231.5664

76 183578.5134

77 189085.8688

78 194758.4448

79 200601.1982

80 206619.2341

81 212817.8111

82 219202.3455

83 225778.4158

84 232551.7683

85 239528.3214

86 246714.171

87 254115.5961

88 261739.064

89 269591.2359

90 277678.973

91 286009.3422

92 294589.6225

93 303427.3111

94 312530.1305

95 321906.0344

96 331563.2154

97 341510.1119

98 351755.4152

99 362308.0777

100 373177.32

101 384372.6396

102 395903.8188

103 407780.9334

104 420014.3614

105 432614.7922

106 445593.236

107 458961.0331

108 472729.864

109 486911.76

110 501519.1128

111 516564.6862

112 532061.6267

113 548023.4755

114 564464.1798

115 581398.1052

116 598840.0484

117 616805.2498

118 635309.4073

119 654368.6895

120 673999.7502

121 694219.7427

 

If you've got fifteen years then your figure is:

 

4090066.939

 

A cool four million, with a little bit of change left for that soft-top.

 

There is plenty of information on this site, elsewhere on the web, and in countless books and articles, about how to use money management to make a small edge work for you.

 

Happy trading.

 

BlueHorseshoe

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You're obviously not very good at TA, Mitsubishi, as your example shows - there is clearly a bearish double top forming here - you can tell from the slope of the 483rd line. :)

 

Nah,i'm betting on Anacot Steel,and it's making steady gains deep within the matrix of that chart.When the smokescreen of all those lines finally clears i'll be cashing out at the top right about the time bluehorseshoe loves it :)

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Eqsys, there will be a lot of new traders who aren't convinced . . .

 

Any new traders reading? Here's what happens when you are able to compound a consistent 3% monthly return over a ten year period, starting with a $20K account (month down the left, equity down the right):

 

1 20000

2 20600

3 21218

4 21854.54

5 22510.1762

6 23185.48149

7 23881.04593

8 24597.47731

9 25335.40163

10 26095.46368

11 26878.32759

12 27684.67741

13 28515.21774

14 29370.67427

15 30251.7945

16 31159.34833

17 32094.12878

18 33056.95265

19 34048.66122

20 35070.12106

21 36122.22469

22 37205.89143

23 38322.06818

24 39471.73022

25 40655.88213

26 41875.55859

27 43131.82535

28 44425.78011

29 45758.55351

30 47131.31012

31 48545.24942

32 50001.60691

33 51501.65511

34 53046.70477

35 54638.10591

36 56277.24909

37 57965.56656

38 59704.53356

39 61495.66956

40 63340.53965

41 65240.75584

42 67197.97852

43 69213.91787

44 71290.33541

45 73429.04547

46 75631.91683

47 77900.87434

48 80237.90057

49 82645.03759

50 85124.38871

51 87678.12037

52 90308.46399

53 93017.7179

54 95808.24944

55 98682.49693

56 101642.9718

57 104692.261

58 107833.0288

59 111068.0197

60 114400.0603

61 117832.0621

62 121367.0239

63 125008.0347

64 128758.2757

65 132621.024

66 136599.6547

67 140697.6443

68 144918.5737

69 149266.1309

70 153744.1148

71 158356.4382

72 163107.1314

73 168000.3453

74 173040.3557

75 178231.5664

76 183578.5134

77 189085.8688

78 194758.4448

79 200601.1982

80 206619.2341

81 212817.8111

82 219202.3455

83 225778.4158

84 232551.7683

85 239528.3214

86 246714.171

87 254115.5961

88 261739.064

89 269591.2359

90 277678.973

91 286009.3422

92 294589.6225

93 303427.3111

94 312530.1305

95 321906.0344

96 331563.2154

97 341510.1119

98 351755.4152

99 362308.0777

100 373177.32

101 384372.6396

102 395903.8188

103 407780.9334

104 420014.3614

105 432614.7922

106 445593.236

107 458961.0331

108 472729.864

109 486911.76

110 501519.1128

111 516564.6862

112 532061.6267

113 548023.4755

114 564464.1798

115 581398.1052

116 598840.0484

117 616805.2498

118 635309.4073

119 654368.6895

120 673999.7502

121 694219.7427

 

If you've got fifteen years then your figure is:

 

4090066.939

 

A cool four million, with a little bit of change left for that soft-top.

 

There is plenty of information on this site, elsewhere on the web, and in countless books and articles, about how to use money management to make a small edge work for you.

 

Happy trading.

 

BlueHorseshoe

 

Hi BlueHorseshoe,

And while you were compounding your small return every month,what were you using to pay the rent?

regards

bobc

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The cult of technical analysis and day trading seems to grow and grow. The Web is crawling with technical analysis (TA). Tax changes have created a boom in spread betting, and hundreds of courses have sprung up to teach traders to read short term 'technical' chart set ups. All of this - coupled with the ongoing use of the terminology by market commentators and practitioners - may make you wonder whether technical trading rules are profitable and worth using in your own investing? Given its popularity, is there something to all this TA, basically?

 

Rest at:

Technical Analysis Debunked: 5 Reasons Why We Don't Believe In Charting | Stockopedia Features

 

--------------------------------------------------------------------------------

 

TA is IMHO the only way to objectively take action from and enter into a trade with a real plan that you follow consistently. This is also the only way you can realize if your plan works or not. At leat you can put some numbers to your trades (even proffesional BlackJack players have an objective system with technical rules, they can't take the dealers word for it). Everything that happend in the market (fundamentals included), is happening in the market (fundamentals included) and will happen in the market (fundamentals included) is already considered and taken into account on a price chart. For this reason you can put a plan towards the future with Technical/Objective analysis. How can anyone make a consistently profitable trading plan/system by looking at the news on CNBC?? You cannot just say: Ok of Bernanke says the buzzword "Interest rate" i will short. The experts you see on TV who are giving you their view on the markets are probably working for an institution/bank/fund that looses when you win.

 

Just giving my opinion and i'm definately not an expert here.

Is it not funny when the experts say that a certain market is very strong and bullish that always two things happen: Your spread widens for about the double or triple and after that the market drops like a brick in mid air.

 

Well,....my :2c:

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      MACRO EVENTS & NEWS OF 25th April 2018.



      FX News Today

      European Outlook: 10-year Bund yields are down -0.4 bp at 0.623% in early trade, the 2-year is down -0.5 bp at -0.5685. 10-year Treasury yields pierced the 3% mark overnight, but have fallen back slightly to currently 2.998%, while yields moved broadly higher in Asia with the 10-year JGB up 1.2 bp at 0.054%. Stock markets headed south in Asia, following a weak close in the U.S. with concerns about the earnings outlook amid warnings on profit outlooks hit sentiment. With a lack of key data releases in Europe today the focus is on the ECB meeting tomorrow, where Draghi will likely see through the recent run of weak confidence data to keep the ECB on course to end net asset purchases by the end of the year, but repeat once again that inflation is not yet on a sustainable path higher, which means the ECB is not ready to commit just yet.

      FX Update: USDJPY lifted back above 109.00 from yesterday’s correction low at 108.54, but has so far left yesterday’s 10-week peak at 109.20 untroubled. Ditto for EURJPY. Stock markets in Asia have been broadly lower following declines on Wall Street, with investors digesting higher yields — the 10-year T-note finally touched the 3.0% level (and first time here since early 2017) — and doubts about earnings growth. The USA500 closed out yesterday with a 1.3% loss, while the Nikkie 225 was showing a 0.3% loss in the late PM Tokyo session. This backdrop has likely curtailed yen selling, according to market narratives. In data, Japan’s February industry activity index came in with 0.4% m/m growth, slightly below the median forecast for 0.5%. USDJPY has been trending higher for a month now, from sub-105.00 levels. The dynamic has been concomitant with rising U.S. yields, with looser fiscal policy having given added underpinning to Fed tightening expectations. This comes with the BoJ continuing to peg JGB 10-year yields near 0.0%. Demand for foreign assets by Japanese life insurers has been a factor propping USDJPY up so far in the new fiscal year, while an abatement in concerns about trade tensions and cooling relations on the Korean peninsular have also been in the mix. Overall, we advise following the trend in USDJPY for now. Support comes in at 108.40-42.

      Charts of the Day



      Main Macro Events Today
        Credit Suisse Economic Expectations Crude Oil Inventories – Expectations – -2.043M Barrels from -1.1M last week BOC Gov Poloz & Wilkins speech – Poloz and Wilkins appear before the Senate Standing Committee on Banking, Trade and Commerce on Wednesday. Support & Resistance Levels



      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.

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      Click HERE to READ more Market news. 


      Stuart Cowell
      Senior 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.
    • $DXCM (DXCM) DexCom stock top of range breakout watch above 75.61,



      analysis http://chart.st/DXCM
       
    • Date : 24th April 2018.

      MACRO EVENTS & NEWS OF 24th April 2018.



      FX News Today

      European Outlook: Asian markets moved mostly higher overnight, following on from a positive session on Wall Street and amid ongoing USD strength with a weaker Yen underpinning a 0.75% rise in the Nikkei. The Hang Seng is up 0.94%, the CSI 300 rallied 1.75% amid speculation that the government is considering easing some policies put in to limit the credit boom. The absence of any negative news on the trade front seems to have given stock markets some breathing space and U.S. futures are also up in tandem with U.K. futures. Oil prices are also up and the front end Nymex future is trading at USD 69.14 per barrel. For now though bonds are getting a boost and stock markets are also higher, with most European futures posting gains in tandem with U.S. futures and after a positive session in Asia. Today’s calendar focuses on confidence data out of France, Germany and the U.K.. The U.K. also has public finance data and Germany auctions 2-year Schatz notes.

      FX Update: The dollar posted fresh highs against the euro and yen, and many other currencies after a bout of demand in Asia, which extending a broad rally the greenback has been seeing against for over a week now. The narrow trade-weighted USD index (DXY) posted its highest level since the first week of January, at 91.07. EURUSD logged a 10-week low at 1.2184, though euro demand has subsequently fuelled a rebound to the 1.2220 area. USDJPY lifted for a sixth consecutive session, making a 10-week high at 108.87. EURJPY is also firmer, though has so far remained below the two-month high it saw last week. The gains in USDJPY have been concomitant with the U.S. T-note yield nearing the 3.0% level, which has been generating headlines, which comes with the BoJ continuing to peg JGB 10-year yields near 0.0%. The Nikkei 225 closed 0.86% for the better, more than reversing the moderate loss seen yesterday. North Korea’s Kim said that he would be willing to accept IAEA inspections of nuclear facilities.

      Charts of the Day



      Main Macro Events Today
        German IFO – The German Ifo business confidence indicator, due Tuesday, comes in a new format this month, which includes the services sector now. For the new indicator a dip is expected to 102.8 from 103.2, and a decline in the expectations reading to 99.5 from 100.1 in the previous month. However, after the better than expected PMI readings there is a bias to the upside to the numbers. In any case, we don’t expect the April round of survey indicators to really change the outlook for the ECB, which is seen on hold this week, with officials seeing scope to leave the final decision on the future of the QE program open until July, when the risks to the global outlook may have become a bit clearer and the decision is becoming urgent. UK Public Borrowing – Expectations – at 1.6B pounds from -0.272B pounds last month. US Consumer confidence – likely declined to 126.0 in April, from March’s 127.7. US New home sales – expected to rise to 0.630 mln in April from 0.618 mln in February. Support & Resistance Levels



      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.
    • Addendum:
      http://www.thedailybell.com/news-analysis/if-you-limit-any-free-speech-this-is-what-you-get/  
      ...
      Anar  Chicagoans, etc, etc, -  wake up !
      This -> https://www.mintpressnews.com/cheran-mexicos-indigenous-community-that-rebelled-against-narcos-thieves-and-politicians-and-won/240979/
      instead of this -> http://massprivatei.blogspot.com/2018/04/smart-city-projects-are-really-police.html
       
    • $WD (WD) Walker & Dunlop stock nice bull flag breakout watch,



      analysis http://chart.st/WD
       
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