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Australia's S&P/ASX200 index opened up 17.80 points, or 0.20%, on Monday, February 23, to 9099.20 points.
Conflict situation:1. Ukraine said that the Russian army launched a large-scale missile and drone attack in Kiev Oblast. 2. Russia once again attacked Ukraine’s energy infrastructure, causing power outages. 3. Multiple explosive device explosions occurred in the western Ukrainian city of Lviv, causing one death and multiple injuries. 4. The Russian side stated that 100 drones attacked Moscow, and most of them were intercepted and destroyed. Other situations:1. The Russian Ministry of Foreign Affairs issued a warning that South Korea may provide weapons to Ukraine. 2. Former Ukrainian Prime Minister: If the United States does not invest heavily, there will be no profit from the Ukraine mine transaction. 3. Hungarian Foreign Minister: Hungary will block all EU resolutions important to Ukraine until Ukraine resumes oil shipments. 4. Kremlin: If Estonia possesses nuclear weapons aimed at Russia, Russia will respond in kind. 5. U.S. Presidential Envoy Witkov: A new round of peace talks to end the Russia-Ukraine conflict will be held within three weeks.
The situation in Gaza:1. Israel said it would not provide funds to the so-called "peace committee." 2. Israeli Prime Minister Netanyahu: Plans to establish an alliance system in or within the Middle East. Iran situation:1. Iran’s Foreign Minister refuted Trump’s remarks about the number of casualties in the riots in Iran. 2. Iran’s Foreign Minister: He may meet with the US special envoy on the 26th, and an agreement with the US is just around the corner. 3. Oman’s Foreign Minister said that the next round of negotiations will be held in Geneva on the 26th. 4. US media: Negotiators from the United States and Iran are expected to meet in Geneva on Thursday. 5. US media: Several people around Trump suggested not bombing Iran, but Senator Graham opposed it. 6. U.S. presidential envoy Witkov: Iran may be able to produce an industrial-grade bomb "in about a week." 7. British media: Iran refuses to export its highly enriched uranium stockpile, but is willing to dilute the abundance of this batch of uranium. 8. Iranian media: If a war breaks out, Jordan and the Trump family’s economic interests in the Persian Gulf, including investments in the United Arab Emirates, will become the main targets. 9. Iranian officials: The negotiations involve nuclear commitments, US commitments to lift sanctions and economic cooperation, etc.; they do not involve the removal of Iran’s high-purity uranium stockpile. The transfer of mines and oil fields to the United States is not considered. 10. Senior Iranian official: Iran and the United States have differences on the issue of sanctions relief. The two sides plan to hold indirect talks in early March and may first reach an interim agreement. 11. US media: Khamenei has already done wartime planning and has set four levels of successors for every military command and government position he appoints. 12. US media: Trump is inclined to launch an initial strike against Iraq in the next few days, and may launch a larger-scale attack in the next few months. Others:1. Pakistan launched air strikes on many civilian areas in Nangarhar and Paktika provinces of Afghanistan. 2. The Pakistani military said it killed more than 80 people in an air strike on the Pakistan-Afghanistan border.
New Zealand's retail sales volume in the fourth quarter was 0.9% quarter-on-quarter, compared with the previous value of 1.90%.
New Zealand's retail sales in the fourth quarter were at an annual rate of 4.4%, compared with the previous value of 4.5%.
Mexican President Sheinbaum: After the drug lord "El Mencho" was killed in a military operation, activities in most parts of Mexico have returned to normal.
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Trading Terminology
refer to the state of a trade after a trader has entered the market. Traders can Buy or Sell to enter the market.
Closed Positions:
refers to executing a security transaction that is the exact opposite of an open position, thereby nullifying it and eliminating the initial exposure.
Close Out：
When your account's Equity reaches 50% of your Used margin , the system will automatically close out positions. The system will start closing positions that have the highest loss until the ratio is greater than 50%.
IMPORTANT NOTE: You should set “stop loss” and “take profit” in time when trading.
How to calculate profit and loss?
For example, you buy 100 AUDUSD with a pip value of 0.01 USD and required margin of $5.
The opening price is 0.78260 and the closing price is 0.78220.
Their price difference in pips is -4 pips [(0.78220-0.78260)/0.0001 - The pip for AUDUSD is the fourth decimal point, ie. 0.0001].
Hence, the profit/loss (P/L) is -$0.04.
What is Margin Level?
● Margin level is a mathematical equation that effectively tells the trader how much of their funds are available for new trades
● The higher the margin level, the higher the amount of cash available to trade
● The lower the margin level, the lower the amount of cash available to trade and the account could be subject to a margin call.
● Monitoring margin level is important for managing your account. If it falls to 100% the system will not allow you to open new positions, and in the case it falls further, some of your positions may be forcibly closed. You can raise it, either by adding funds to your account to increase equity or by closing some positions to reduce used margin.
If your margin level is getting close to 50%, you are in danger of having some of your positions forcibly closed. When the margin level is less than or equal to 50%, the positions with the greater losses will be closed out until the margin level rises above 50%. The positions opened by coupons will not be influenced and hence coupon trades will not be closed out.
How is margin level calculated?
It is calculated by the following formula:
Margin level = (equity ÷ used margin) × 100%
If you don't have any trades open, your margin level will be “- “
Margin level example
If your account equity is $8,000 and your used margin is $2,000 then your margin level is 400%.
Important Economic Data - Released Dates
At 15:30 (GMT +2) on the first Friday of every month
GDP of major currencies (EUR, USD, GBP, AUD, NZD & JPY):
Released on a quarterly basis.
CPI of major currencies (EUR, USD, GBP, AUD, NZD & JPY) :
Released monthly.
U.S. Initial jobless Claims :
At 15:30 (GMT +2) every Thursday
U.S. Durable Goods Orders :
At 14:30 (GMT + 2) once a month
FOMC Minutes:
The Committee meets eight times a year, approximately once every 6 weeks
EIA:
At 17:30 (GMT + 2) every Wednesday
OPEC meeting:
Twice in a year, usually in June and December
Candlestick Chart
1. Bullish Candle: When the close is higher than the open (usually green or white).
2. Bearish Candle: When the close is lower than the open (usually red or black).
There are three main parts to a candlestick:
1. Upper Shadow: The vertical line between the high of the day and the close (bullish candle) or open (bearish candle).
2. Real Body: The difference between the open and close; colored portion of the candlestick.
3. Lower Shadow: The vertical line between the low of the day and the open (bullish candle) or close (bearish candle).
Candlestick Patterns
1.White Marubozu
Formation: When the opening price equals the bottom price and the closing price equals the top price. The body colour is white or green without shadows.
Meaning: The buyers maintained control of the price - Bullish.
Forecast: It indicates the continuation at the end of an uptrend or a reversal at the end of a downtrend.
2.Black Marubozu
Formation: When the opening price equals the top price and the closing price equals the bottom price. The body colour is black or red without shadows.
Meaning: The sellers maintained control of the price - Bearish
Forecast: It indicates the continuation at the end of a downtrend or a reversal at the end of an uptrend.
3.Closing Black Marubozu
Formation: When the closing price equals the top price and no lower shadow is created.
Meaning: The sellers took control of the price - Bearish.
Forecast: It indicates the continuation at the end of a downtrend or a reversal at the end of an uptrend.
4.Hammer
Formation: Small candlestick body with a long lower shadow and a short or absent upper shadow.
Meaning: The buyers were able to overcome the selling pressure and close near the open - Bullish.
Forecast: It indicates a reversal after a downtrend or a support level which requires further bullish confirmation.
5.Shooting Star
Formation: Small candlestick body with a long upper shadow and a short or absent lower shadow.
Meaning: The sellers were able to overcome the buying pressure - Bearish.
Forecast: It indicates a reversal after an uptrend or a resistance level which requires further bearish confirmation.
6.Spinning Tops
Formation: Small candlestick body with a long upper shadow and a long lower shadow.
Meaning: Neither the sellers or the buyers were able to take over - Neutral.
Forecast: If it forms during an uptrend, it could mean that not many buyers are left and a possible reversal might occur. If it forms during a downtrend, it could mean that not many sellers are left and a possible reversal might occur.
7.Doji
Formation: Opening and closing prices are effectively equal with a long upper shadow and a long lower shadow.
Meaning: Neither the sellers or the buyers were able to take over - Neutral.
Forecast: It indicates indecision and is often formed during resting periods after a significant move either higher or lower.
The above are some types of candlestick patterns that can be formed. The different types can be categorised as single, double and triple candlestick formations. Please always take market conditions and price action signal into consideration before acting on a single candlestick pattern.
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