Signal Centre – Talking Bull – Episode 21

Posted: 27th November 2019

Welcome to episode 21 of ‘Talking Bull’.

In this video/podcast we cover the main headlines and what to expect from the day ahead. We take a technical look at key markets that are likely to be impacted by today’s events. Also, we participate in a ‘Gun to the head’ challenge where each of us calls a live trade. These will expire at 9pm tonight and we will keep track of the progress over time.

We hope you enjoy it!

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Show notes:

Steve made 0.82R on his Oil long yesterday. Joe lost 0.31R on FTSE and Ian lost 0.48R on AUDJPY.

Steve remains up and in 2nd place despite a win rate of 37% – focus on risk/reward!

We have also included an illustration based on a £1000 account. This will follow the combined return of our morning trades by risking 1% of the trading capital per trade. The 1% risk is a variable monetary amount and will rise and fall based on the success of the calls.

Up 4.34% collectively since we began recording Talking Bull.

News

Risk appetite held steady on Tuesday amid cautious optimism over US-China trade talks, although with no definitive developments.

Consumer confidence declined to 125.5 for November from a revised 126.1 previously with an increase in the expectations component offset by a dip in the current conditions. There was a slight dip in confidence in the labour market and it was the fourth successive monthly decline, although overall sentiment remained strong in historic terms.

Trade rhetoric from the US and China was generally positive during Tuesday with President Trump stating that the US was in the final throws of reaching a deal. There was, however, an important element of caution, especially with reports that the roll-back of existing tariffs remained an important issue preventing final agreement.

President Trump stated that he is holding up the China trade deal as it has to be good. Some Chinese sources also suggested that there was a major push to get text finalised and overall risk sentiment held firm in Asia ahead of Thursday’s Thanksgiving holiday.

The latest UK opinion poll for the December 12th election also suggested that the Conservative Party lead over the opposition Labour Party had narrowed. This was a significant trigger pushing Sterling lower with the GBP/USD failure to hold above 1.2900 also a factor.

Data

1.30pm – US durable goods orders (October): orders to rise 0.6% overall and 0.3% excluding transportation orders. GDP growth to be 1.6% QoQ. Markets to watch: US indices, USD crosses

3pm – US pending home sales (October): expected to fall 0.7% MoM. Markets to watch: USD crosses

3.30pm – US EIA crude inventories (w/e 22 November): stockpiles rose by 1.75 million barrels last week. Markets to watch: Brent, WTI

 

Gun to head trade ideas – Results so far

 

Gun to head trade ideas – Today

 

Have a great week everyone.

 

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