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Sterling stands as this week’s G10 laggard as Brexit...Sterling stands as this week’s G10 laggard as Brexit pessimism took the helm, with the fallout from the mid-week dinner between PM Johnson and EC’s VdL highlighting the outstanding differences and prompted both sides to play down the chances of a deal, with VdL and Johnson both stating a no-deal Brexit is the most likely outcome. Talks were given a “deadline” of Sunday, although a German official floated the possibility that talks may need a few days beyond this. From a domestic standpoint, the Thursday data-dump, saw GDP growth slowing to 0.4% MM in October from 1.1% in the prior month, manufacturing output increasing 1.7% MM in October and the trade balance flipped to a GBP 1.7bln deficit from a GBP 613mln surplus a month earlier, although the metrics were unsurprisingly overlooked. Sterling unwound the Brexit optimism that was baked in the prior week, with Cable sliding from its 1.3478 weekly peak to a base a 1.3134, taking out its 21 and 50 DMAs in the process and with the 100 DMA residing around 1.3090. Meanwhile, EUR/USD looks set for a flat close in what has been a busy week for the Eurozone (barring Brexit), from a monetary and fiscal front. First, the ECB’s policy announcement largely fell in-line with consensus whereby rates were maintained, PEPP expanded by EUR 500bln but extended by 9 months (vs exp. 6- or 12-months), TLTRO further calibrated and extended by 12 months. President Lagarde at the presser provided little by way of concrete commentary for markets to grip on, and remarks around the EUR were reiterations, although sources highlighted split views in the GC regarding the size of the PEPP expansion, the tweaks to TLTROIII and the economic outlook. Verbal intervention also came from GC member Villeroy who stated the central bank is vigilant on the exchange rate and all instruments are available on this. On the fiscal front, Hungary and Poland reached a deal to withdraw its veto of the EU budget and recovery fund and thus neutralising threats of delays. EUR/USD heads to the European close with a 1.21+ status having had notched 1.2558-1.2123 weekly band.
by FTUKcom
8
Nonfarm Payroll, RBA Interest rates – Week aheadBusy week ahead as September kicks in. As New Zealand and the United States elections slowly approach, the Coronavirus pandemic will most likely be the center focus for many parties and how they handle the post Coronavirus world. Here is your week ahead. Tuesday, 1st September – Germany’s Inflation and Unemployment rate Like most of Europe, Germany is experiencing an uptick in cases as a reopening of Europe too early takes its toll. However, this has not stopped protesters storming the German Government building in Berlin alongside Germany’s total cases ticked over 243,000. With prices of oil slowly increasing, analysts expect inflation to increase slightly by 0.1%. Furthermore, with Germany’s unemployment benefit allowing unemployed citizens to claim up to 67% of their previous wage, analysts predict no change in the unemployment rate at 6.4% in the week ahead. Tuesday, 1st September and Wednesday 2nd September – Reserve bank of Australia Interest Rate Decision and Australia’s Year over Year GDP. Australia continues to fight a hard battle with the Coronavirus, after their original strategy of having no lockdown has lead to massive spikes in Melbourne, Victoria. Australia recorded 123 new cases of the Coronavirus – all in the state of Victoria. Denita Wawn, Master Builders Australia’s Chief Executive, stated that “Our industry is facing a bath… Private sector investment is evaporating, and the government must step in to save businesses and jobs,” conveying how dire the situation is in Australia. However, the Reverse Bank of Australia is expected to hold interest rates at 0.25%. Any deviation from this consensus is most likely to move the Australian dollar significantly. Furthermore, Melbourne’s sustained lockdown has seen forecasts of GDP growth to drop to -5.3%, down 6.7% GDP growth of 1.4% in the previous quarter. Tuesday 1st September – Italy’s Markit PMI. One of the country’s worst-hit with the Coronavirus, Italy, has recorded over 268,000 cases with cases continue to spike, with newly registered cases yesterday just over 1,200. Italy is predicted to be one of the first to get a grant from the Bloc’s 750 Billion Euro grant as it suffers from worsening GDP growth pre-Coronavirus. Italy is set to release Manufacturing PMI’s to 52, slightly higher from 51.9 last month. Tuesday 1st September – Euro core inflation rate Year over Year Europe is currently experiencing a resurgence in Coronavirus cases as an early lifting of lockdowns just before Summer has forced a spike across Europe. However, many countries are against a second lockdown due to the Economic calamity it will bring. Analysts predict a drop in the inflation growth rate to 0.9%, down from 1.2% in July. Non-farm payroll – Friday, 4th September The United States continues to post daily double-digit Coronavirus cases as their total case count tops 6 Million. As elections approach in just over a month, President Donald Trump continues to let the economy open to win over voters. Non-farm payrolls are predicted to be just over 1.4 million, down from a previous 1.73 million print. As usual, we have many critical economic events that traders need to watch out for to avoid being whipsawed by the market in the week ahead. Trade Cautiously.
SP:SPX
by BlackBull_Markets
Week in Review: Hidden GemHonorable Mentions Some very nice work has been done this week again by the Pine community. Shout out to Covax for publishing an attractive "Bitfinex Sentiment Index", beautifully rendering longs and shorts with some creative code; mortdiggidy's "Fisher Transform MTF" includes a unique function for the MTF Fisher, which, if I'm reading it right, solves the upper timeframe repainting that's oft associated with studies; and "Relative Derivative" by byteboi is a simple modification of the RoC that's comparable across assets and smoothed with an SMA. Dr. Do-a-lot A scripter that some, but not enough, users of TradingView will be familiar with is RafaelZioni. He's been a user for ten months and in that time he's amassed a huge library. RafaelZioni's strengths can be seen in the details of his work and as such his broader body of work may go underappreciated, but it's worth venturing deep into some of his work if you want to learn tricks-of-the-trade. His most recent work, and the script that will be highlighted this week, is "zigzag%". Zig-Zags in the Bag A very famous and useful scripter by the name of RicardoSantos has published a slew of scripts for realising zig-zags on the chart, so what make this one special? Well, for a start (and as far as I can tell), the zig-zag paints in real-time and with no lag. It can also use upper timeframe data with (as per description) no repaint. But that's not where the value lies in this script. A problem with Pine is that we can't realise some strategy functions in studies. TradingView doesn't accommodate for this and we need to think out of the box in order to achieve fidelity. So if you look carefully in this script you'll see that RafaelZioni has done just that. We can set the backtest date, set the take-profit levels, stop-loss levels and more. For anyone who's trying to turn their strategies into studies so that they can get alerts for each action, look here for some great insight. The script is actually an implementation of a trading strategy too. Here's an example of some results you can get. What Else is in the Bag? It's a jungle out there, but there's treasure deep in the dark. I advise everyone to get down and dirty with RafaelZioni's scripts. There's a very RicardoSantos-feel from his ideas and I expect that they're only going to get more creative in the future. His "Bollinger ratio" was included in the honorable mentions list last week and is a creative way of merging Bollinger Bands with the MACD. The eloquently named "net volume of positive and negative volume buy and sell alert" is also a fantastic way to view volume, and it comes with buy and sell alerts. Want to learn? If you'd like the opportunity to learn Pine but you have difficulty finding resources to guide you, take a look at this rudimentary list: docs.google.com The list will be updated in the future as more people share the resources that have helped, or continue to help, them. Follow me on Twitter to keep up-to-date with the growing list of resources. Suggestions or Questions? Don't even kinda hesitate to forward them to me. My (metaphorical) door is always open. Honorable Mentions RafaelZioni: www.tradingview.com Covax: www.tradingview.com mortdiggidy: www.tradingview.com byteboi: www.tradingview.com
FX_IDC:XAUUSDEducation
by chrysopoetics
5
Week in Review: New Kid on the BlockHonorable Mentions This week we've seen a flurry of new open-source scripts hit TradingView, empowering it's users with trading ideas and programming techniques. "By Traders For Traders" by Dunhua-Yao , a potent modification of JustUncleL's "Price Action Candles", uses tighter criteria for 'Hammers' and 'Shooting Stars'; "Blau Divergence RSI", by blindfreddy , gifts us with William Blau's RSI; Quansium's "Quansium Source Layout" suggests ways to use external sources with TradingView; and RafaelZioni's "Bollinger ratio" brings together the MACD and Bollinger Bands in a unique way. There Goes the Neighborhood But there was one coder in particular that really caught my attention, introducing new, interesting, accessible, exotic and useful concepts. In the last week he's published 8 scripts, with his most recent strategy garnering a seemingly-outlandish return of 6000%+, although he has been a member for seven months. So the shining light for me this week, a big fan of Ehler's (who isn't?), has to be dasanc: www.tradingview.com Magnum Opus Currere The script that encapsulates his talent (for me) is his most recent strategy, "Adaptive Zero Lag EMA v2": This piece of work uses Ehler's ZLEMA and the two methods for Instantaneous Frequency Measurement (IFM) that dasanc's published in the past week. You can also adjust your risk limit, change TP/SL levels and determine your gain limit from within the control panel. Not only that, but it's presented in a clean and understandable manner, allowing beginners and professionals alike to pick up and immediately get started with the algorithms. Cherry on Top... So what makes this script so special? Well, the two IFM techniques: (One) (Two) In what seems to be his typical fashion, he's provided excellent descriptions for how these should be used. In short, if you're using an indicator that uses a lookback period (RSI, EMA etc), instead of fiddling with arbitrary numbers you just use the output of either of these techniques as the source for determining the lookback. Realising this concept has resulted in the entire Pine community being gifted with something they might not even know they were looking for. ...And Some Cream Low Lag Exponential Moving Average: Cosine, In-Phase and Quadrature IFM: Moving Forward With a young account and a recent burst of activity, it's safe to assume that we'll be seeing more of dasanc. Hopefully his singular approach to signal processing (as far as the current TradingView library is concerned) will be emulated by others. Want to learn? If you'd like the opportunity to learn Pine but you have difficulty finding resources to guide you, take a look at this rudimentary list: docs.google.com The list will be updated in the future as more people share the resources that have helped, or continue to help, them. Follow me on Twitter to keep up-to-date with the growing list of resources. Suggestions or Questions? Don't even kinda hesitate to forward them to me. My (metaphorical) door is always open. Honorable Mentions
NASDAQ:INTCEducation
by chrysopoetics
2
Finding support on the 200 week moving averagethe BLX chart has the cryptomarket charted since 2011 and during that charts entire existence we have always held support above the 200 week moving average (in blue) We have now touched it again and are seeing a relief bounce....judging by the weekly stochrsi we will likely see a nice bounce here. However I think t his rally may be temporary I think we may ultimately maintain support on the 200 weekly moving average but we may revisit and throw a wick well below it for our capitulation candle (around february) although we may still close that capitulation candle above the 200ma as well. A good time to be long temporarily but remember we likely haven't seen our capitulation candle just yet.
BNC:BLXLong
by DrDovetail
Veracyte Stock (VCYT) on the Rise, Just Hit 52-Week Highs MarkFrom a Technical Analysis point of view, our (Mstardom Finance) proprietary trading strategy told us that the moving average accumulated over a month’s time for VCYT is $11.54. So, we should buy the stock when it falls below $11.54 preferably when it falls anywhere between $8.85 and 11.54. On the other hand, our proprietary trading tool told us that we should sell the stock when it gets close to the $14.32 level or above. Don’t be greedy, though. Traders don’t have to wait until the price hits the $14.32 target before taking profits. Traders can take profit at any price point that is close. In fact, anywhere between $14.32 and $17.00 is a good take-profit point for VCYT because if Traders don't take profit along this range, They run the risk of losing out on a profit-taking opportunity and run the risk of having the stock fall back down toward its moving average. A stock will always revert back to its moving average or mean within a certain time. This is called mean reversion; look it up. It is a very important concept in institutional trading. I will be releasing a book on institutional trading in a few months; this book will help the retail trader trade like the professional traders who trade for investment banks, mutual funds, and hedge funds. Keep in mind that the stock VCYT will continue to rise with a steady moving-average-increase to the upside with the occasional short-term pullback. This stock is a good stock to buy the dips and sell the highs on. At a later date, we will probably write another technical analysis article on this stock. Click here for the full article which include Fundamental Analysis and confirmatory information on why the stock has hit new 52-Week Highs.
NASDAQ:VCYT
by mstardom