STA Blog

Charting the Markets with IG TV: Guest Lee Sandford of London Trading College quizzed again

A regular guest on this 10:30 am slot, host Victoria Scholar slickly puts charting veteran Lee through his paces. Interestingly, he kicks off with FX cross the Kiwi (New Zealand dollar, for the uninitiated) against the Canadian dollar. While these ‘commodity’ currencies (plus the Australian dollar) feature regularly on specialists’ radars, I’m wondering whether the average IG spread-betting fan is really that interested.

Euro/Sterling comes next where, as well as his standard MACD, RSI and Stochastics, he uses 3 moving averages. He says that when he wants to short the euro, he finds it better to do so against the pound. Sound advice indeed – don’t always stick to the obvious.

The German DAX 30 index appears to have a potential broadening top and is therefore of no value for a ‘’swing trade long’’; it’s also riddled with divergence on the oscillators. A similar story for Japan’s Nikkei 225 index where, when there is divergence on 3 or more oscillators, he anticipates a big moves.

He’s keen – and eloquent – on the outlook for commodities for 2020 because they ‘’trend hard; they tend to run and run’’. He covers palladium and zinc, the former parabolic and the latter which ‘’looks absolutely beautiful’’. Not sure I can see it, really, but then, beauty is in the eye of the beholder.

His final chart is one I’m not aware of: the Euro Stoxx Banks short daily ETP. It’s a way of getting exposure the ever-dwindling value of Eurozone bank share prices. I’ll have to go away and do some homework on this.

Click here to view.


Posted in Education, Finance, Markets, STA charts, Technical Analysis Courses, Trading
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The views and opinions expressed on the STA’s blog do not necessarily represent those of the Society of Technical Analysts (the “STA”), or of any officer, director or member of the STA. The STA makes no representations as to the accuracy, completeness, or reliability of any information on the blog or found by following any link on blog, and none of the STA, STA Administrative Services or any current or past executive board members are liable for any errors, omissions, or delays in this information or any losses, injuries, or damages arising from its display or use. None of the information on the STA’s blog constitutes investment advice.

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