Mon 27th Apr 15, 15:44:28
A number of directors in Sweett Group bought same shares in the company one week after it posted a trading update where it said it has been a difficult time to the company.
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Britain could lose 14% of its GDP by 2030 if it leaves the European Union, a study by the Bertelsmann Foundation and Ifo economic research institute said. 7 hours ago
SuperGroup was trading higher as RBC Capital Markets raised its rating on the clothing chain. The broker, which hiked its recommendation to 'outperform' from 'sector perform', also increased its price target to 1,150p on high hopes for the newly appointed management team. 3 hours ago
British drivers wishing to hire a car abroad will need to take a special code with them from 8 June, the Driver and Vehicle Licensing Agency said on Monday. 2 hours ago
Business activity in the US service sector remained steady throughout April, data released on Monday showed. 2 hours ago
HSBC surged as reports emerged that it may spin-off its UK high street banking business, ahead of a review of its headquarters' location. 3 hours ago
Banknote printer De La Rue will take a £13.5m non-cash hit from a disputed contract with a major customer and said it felt the long-standing issue was now mostly resolved. 2 hours ago
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The GBP/JPY was in a well-defined bearish channel, which we identified last week and now we see that the price has finally broken out of the channel to the upside, taking with it some key resistance levels.
Besides breaking out of the upper trendline of the channel, the price has also broken the 200 day exponential moving average (blue line) and the round number level of the 179.00.
Trading in the capital markets requires a sound strategy that can incorporate a number of tools including forecasting specific price targets.
One way traders may forecast where prices are heading is by using mathematical equations to forecast potential targets. Harmonic price patterns use geometric price movements and combine these with Fibonacci numbers to define precise turning points. Unlike other trading methods, Harmonic trading attempts to predict future movements.
The currency markets are anticipating a huge sterling volatility spike in the immediate aftermath of the election vote, according to options software technology company ORE.
There is plenty of market chit-chat over the concerns and uncertainty around the UK elections. Neither David Cameron nor Ed Miliband are pulling ahead and an outright victory is becoming less likely. Trying to predict this election is one thing, but putting your money on it is another.
A bearish channel is really a consolidation which has a slight inclination to the downside, like the one we are seeing on the Daily chart of the GBP/JPY.
The bearish channel could be traded like any other channel where long positions are taken at the bottom boundary and short positions are taken at the upper boundary; however, we must be aware that the price may break out of the channel at any moment and take extra to prevent huge losses.
This strategy is based on well-known, very simple principles that are still valid. If you recognise megatrends early, you can achieve nice profits in the markets. You should try to achieve a good risk-reward-ratio (RRR) in your trades and you should limit your possible losses with the help of stop-losses based on technical analysis. This article was written in October 2014. The setup shown actually worked extremely well.