The euro has reversed it’s overnight, early morning bearishness versus the major currencies to make strong gains ahead of two crucial meetings; the troika meeting to rubber stamp Greece’s next proportion of bailout funds and Angela Merkel’s government vote on just how far Germany is prepared to support this and further bailouts for the seventeen […]
The First of Many D Days for Europe, Decision Days Read More »
The famed analyst and market technician Robert Prechter came across Ralph Elliott's work while working as a market technician at the investment bank Merrill Lynch. His prominence as a forecaster, during the bull market of the 1980s, brought the greatest exposure to Elliott's work. Prechter remains the most widely known Elliott analyst. Robert Prechter is
Elliot Wave Theory and the Madness of Crowds Read More »
“Bread and Circuses” is regarded as a metaphor to explain the superficial means of appeasement. In politics the phrase is used when describing the synthetic creation of public approval. Not through exemplary public service and policy creation, but through immediate satisfaction by pandering to the shallow requirements of the populace. The phrase also suggests the
Does the Premier League have the X-Factor of Rome's Bread and Circuses? Read More »
A friend of mine is a director of a leading UK spread betting firm. He has every right to be incredibly proud of his and his company's achievements over the past two decades. That industry has also made massive strides to improve its quality of service and moreover the basic cost of doing business –
Spread the Word, Headline Forex Spreads can be Misleading Read More »
It was inevitable that the very strong relief rally the markets enjoyed yesterday was unsustainable. Has there ever been a time in recent trading history were merely the mention of possible solutions by European policy makers can lead to such wild swings of sentiment? We’re still some distance away from implementation of the various mechanisms
Relief Rally Fades as the Reality Bites Read More »
Like followers of religious cults there are traders and analysts utterly devoted to their views on certain indicators or patterns. There is one 'indicator' that, irrespective of its proficiency, manages to capture your imagination far more than those invented in the late twentieth century by esteemed mathematicians and statisticians. This indicator pre dates, by some
Voodoo or Juju? The Mystical Nature of Fibonacci Read More »
Stocks retraced their earlier gains on Wall Street on Tuesday closing 1.33% up on the day having spent the majority of the day up circa 200 points or 2%. Despite the waves of optimism due to the various solutions floated by the official bodies in Euroland the question of Greece once again reared its head
Wall Street Stocks Close 1.33% Up Read More »
Schadenfreude can be described as deriving pleasure from the misfortune of others. This German word has no real direct comparison or translation in the English language. We could extend this word and it's meaning to trading. As traders we fully accept that, to all intents and purposes, our industry and profession is a 'zero sum
Please no laughing at the back of the class, the Polish currency, the zloty, is apparently falling out of favour with investors and speculators. Are you thinking what I’m thinking, that it’s a shame they didn’t ditch their sovereign currency in 2002 and join the euro? Trading humour can be so cruel. The zloty is
The Zloty Loses its Slot Read More »
“Buy on the rumour sell on the news” is a tried and tested market trading approach, traders often make trading decisions based on what they calculate may happen due to any given economic report or event (the rumour). Once the event passes or the report is released (the news), they then ‘dump’ their positions and
Buying the Rumour but Will We Also Buy the News? Read More »
