I must say, I don’t envy men these days; sartorial decisions are so very nuanced.
IG TV host Jeremy Naylor this week invited Member of the Society of Technical Analysts’ Lee Sandford of tradingcollege.co.uk onto their regular slot, looking at markets from a chartist’s perspective. Both weren’t wearing jackets; not sure, but I suppose one mustn’t look too corporate – not to say, looking like stuffed shirts. Jeremy’s striped one and tie looked the part; not so sure about Lee’s pale blue (though also long-sleeved) shirt and no tie. As well as being competent at one’s job, working with the media, be it TV, text, or social outlets, one must consider all sorts of other messages one is signalling.
Expecting a (much welcomed) pick-up in volatility, Lee cautions about aggressive positioning in the DAX index, favours the EUR/USD because it has ‘’a potential trade setting up’’ and it’s a ‘’cheap market to trade’’. Be careful with this thinking because ‘cheap’ is a relative term, and leverage bites back.
In contrast, the Average True Range on the FX cross GBP/NZD he says, ‘’is pretty high’’ and while 68 per cent of IG clients are short this currency pair, he’s bullish and will ‘’hang on for dear life’’. I’m not sure how he sees this exchange rate. First he says its at ‘’two fifty’’; then he calls this a currency and says it’s ‘’twenty fifty’’. By my reckoning I think I’ll get about two and a half Kiwi dollars for my pound sterling.
Jeremy says you’re welcome to contact him with queries. Might be worth following up.
Click here to watch.