Steve Miley (The Market Chartist)

Steve Miley (The Market Chartist)

Steve Miley is the Market Chartist and has 29 years of financial market experience and as a seasoned expert now has many responsibilities. He is the founder, Director and Primary Analyst at The Market Chartist, the Editor-in-Chief for FXExplained.co.uk, the Academic Dean for The London School of Wealth Management, plus Senior Investment Advisor at Kylin Prime Capital.

At FXExplained.co.uk Steve is the Editor-in-Chief, alongside producing numerous articles for the site. The ability to be able to reach out to a wide, global audience with his own analysis and also assist and nurture other authors in their creative process makes this a role that Steve values deeply.
Here are Steve’s tips on what pages to follow closely on FxExplained: Current market analysis and Best trading app in UK.

The Market Chartist

The Market Chartist was founded in 2012 and provides daily technical analysis reports, with written commentary and key support/ resistance levels to an institutional, professional and retail client base. The 30+ daily reports include European, UK and US Bonds & Equity Index Futures, G10 currencies, UK Natural Gas, TTF Gas, German Power, EUA Emissions and LME Base Metals.

As The Market Chartist, Steve has won many awards from the Technical Analyst Magazine. He was the 2016 & 2013 Winner (plus 2014 Runner Up) for Best Independent Fixed Income Research & Strategy and winner of Best FX Research & Strategy in 2012. He was also a finalist in the Technical Analyst of the Year category each year for 2012-2017.

Other Current Positions

Steve is also the Academic Dean for The London School of Wealth Management, a role he really enjoys. He appreciates the opportunity to be able to educate a diverse array of students in all aspects of the financial market’s world. Steve says “to be able to be a part of transforming an individual’s life through education is truly a privilege and very exciting”.

In his role as Senior Investment Advisor at Kylin Prime Capital, Steve supports and advises the investment management team by employing his extensive fundamental market experience, alongside his wealth of technical analysis knowledge. This allows him to add significant value to investment decisions.

Steve also writes extensively for numerous financial markets sites including: FxStreet.com, TechnicalAnalyst.co.uk, InsideFutures.com, BarChart.com, StockTwits.com, StockBrokers.com, AskTraders.com and Investing.com.

Previous to this, Steve was also a Senior Lecturer at The London Academy of Trading where he fully began his journey into the world of education. It was here that he honed his skills as a lecture and mentor in the world of financial markets education.

Vast Technical Analysis Experience

Steve has also helped technical analysis push into a new era in his previous role as Director at Vega Insight. Vega Insight is a relatively new company with a specific focus on Artificial Intelligence and Machine Learning in global commodity and broader financial markets, with special focus on Energy. In his role Steve was responsible for the technical analysis inputs to the Artificial Intelligence and Machine Learning.

Steve spent 2009-2012 as a Director in the Technical Analysis Research Strategy team at Credit Suisse. Steve managed the FX division, responsible for the reports, forecasts and bank wide research for G10 & Emerging Markets currencies. In this role he also covered all major asset classes including Equity Indices, Rates & Credit, plus Commodities.

Steve spent most of his career at Merrill Lynch for 15 years from 1994-2009. The last ten years was as a Vice President in the research department as a technical analyst, responsible for daily reports, client presentations, plus in-house and client education programs. Prior to this, Steve was in the Fixed Income derivatives sales team where he managed the Italian Futures desk (BTP and EuroLira) on LIFFE (the London International Financial Futures Exchange). He was responsible for a four-man sales team, who consistently produced high volume of sales from both in-house and external clients.

He is a Member of the Society of Technical Analysts (MSTA) and holds a Master’s degree in politics, Philosophy & Economics from Oxford University (Lincoln College).


Beginner

Delta variant spread and Fed fears sees “risk off” market reactions

Macroeconomic/ geopolitical developments Global financial markets reacted to ongoing fears of more hawkish monetary policy in the US, alongside concerns around the spread of the COVID-19 Delta variant globally. As we will look at below, this is sent global bond markets higher (to lower yields, led by the US), whilst world stock averages sold off … Continued

Beginner

Share averages stay strong through US Employment report

Macroeconomic/ geopolitical developments Manufacturing Purchasing Managers Index (PMI) data for June mostly beat expectations on Thursday 1st July, both from Markit for many major economies and from the US Institute of Supply Managers (ISM), with the Manufacturing PMI coming in at 60.6%, beating consensus for a 13th straight month above 50.0%. The US Employment report … Continued

Intermediate

Stocks shrug off hawkish Fed, pushing higher into late Q2

Macroeconomic/ geopolitical developments Last week, global financial markets were still digesting the big event of the prior week with the US Federal Reserve signalling a more hawkish tone than the financial markets had anticipated. Fed officials this past week have sought to calm markets and allay fears that they were about to start to tighten … Continued

Intermediate

More hawkish than anticipated Fed dominates markets

Macroeconomic/ geopolitical developments The big event of the past week was US Federal Open Market Committee (FOMC) interest rate decision and statement on Wednesday. The FOMC dot plot chart at least two quarter-point rate increases in 2023. This was a more hawkish tone than the US and global financial markets had anticipated, causing significant price … Continued

Beginner

Stocks and Bonds rally, despite inflationary signals

Macroeconomic/ geopolitical developments US CPI data was higher than expectations, with the headline data posting at 5% year-on-year for May, at its fastest pace since August 2008, with the core rate at 3.8%, its highest for nearly three decades. But Bond markets and stock indices shrugged off this data, with moves to lower yields and … Continued

Intermediate

Stock averages rally on US Employment report

Macroeconomic/ geopolitical developments Another quiet week in financial markets up until Friday, despite a busy data calendar. Markets kicked into life after Friday’s US Employment report, which saw 559K jobs added in May, which was slightly worse than expectations. Over the weekend, the G7 agreed a global minimum corporate tax of 15%. Global financial market … Continued

Intermediate

European averages take the lead as indices probe higher

Macroeconomic/ geopolitical developments A quiet week in financial markets with muted central bank activity and a relatively light data calendar. The standout on Wednesday was a more hawkish tone from the Reserve Bank of New Zealand (RBNZ). This helped the New Zealand Dollar post firm gains across the Forex board. Cryptocurrencies remained volatile, with Bitcoin … Continued

Intermediate

Stock and forex markets hesitant

Macroeconomic/ geopolitical developments Inflation concerns remain, after the recent spike in US CPI data. The Fed Minutes on Wednesday highlighted an improving US economy but still far from the Fed’s goals, this did not have a significant impact on global financial markets. Tensions in Gaza have eased with an Israel-Hamas ceasefire announced. The Indian COVID … Continued

Intermediate

Inflation spooks Big Tech, but stocks rebound from weakness

Macroeconomic/ geopolitical developments The US Consumer Price Index released on Wednesday came in at 4.2% from a year ago and 0.8% from March, significantly higher than expected. This data heightened US and wider inflation concerns, which had already spooked Big Tech stocks through mid-May, pulling broader equity indices lower. Tensions in Israel have had little … Continued

Beginner

Interview with Jack Schwager by The Market Chartist

An interview with Jack Schwager, legendary author of the Market Wizards series of trader interviews, who has 22 years experience as a Director of Futures Research for some of Wall Street’s largest firms, including Prudential Securities. Jack is also currently championing Fund Seeder, as a co-founder. FundSeeder.com is a platform devised to find unknown global trading talent and to connect these unknown but … Continued

Intermediate

Stocks cautious, despite strong results from Big Tech – USD gains

Macroeconomic/ geopolitical developments US President Biden announced his $1.8 trillion American Families Plan (human infrastructure) to complement the $2 trillion infrastructure plan announced at the end of March. Earnings season has continued with more positives, with Amazon, Google, Apple, Facebook and Tesla all beating estimates (though the price action on these stocks has not been … Continued

Intermediate

US Dollar weakens, stock averages stay firm

Macroeconomic/ geopolitical developments US President Biden announced a potentially significant increase in Capital Gains Tax (CGT) rates, which had a negative impact on US (and global) risk assets. Earnings season has continued with mostly positives, though Netflix missed the expectations of analysts on new subscribers, which was a broader negative for new media/ big tech. … Continued

Beginner

Stock markets stay very strong, US Dollar sets back

Macroeconomic/ geopolitical developments US Retail Sales data for March came in extremely strong on Thursday, beating expectation with a rise of 9.8% MoM. Earnings season has kicked off in earnest in the US, with the Banks and Financials leading the way, in most instances beating expectations. The European vaccine rollout has improved, although it still … Continued

Beginner

Stock averages surge to all-time highs, growth stocks re-energizing

Macroeconomic/ geopolitical developments On the Central Bank side last week, we had the Federal Open Market Committee (FOMC) Meeting Minutes released on Wednesday and Fed Chairman Powell spoke on Thursday. The FOMC Meeting Minutes and speech by Powell simply reiterated a still ongoing dovish stance. This has seen US yields retreat from multi-year yield highs … Continued

Beginner

US yields hit multi-year highs AND stock averages at record levels

Macroeconomic/ geopolitical developments The global Market and US Institute of Supply Management (ISM) Manufacturing Purchasing Managers Index (PMI) reports were out on Thursday and were broadly better than expected. The US Employment report for March was released on Friday and the Non-Farm Payroll data far exceeded the anticipated number of 675K, posting at 916K, whilst … Continued

Intermediate

Yields correct lower, but US Dollar strengthens

Macroeconomic/ geopolitical developments In various speaking engagements this past week Fed Chairman Jerome Powell has reiterated the US Central Bank’s dovish stance. This saw US yields (and global bonds) move back modestly to lower yield territory (from recent high yield extremes). The German Ifo business climate index for March posted at to 96.6 from 92.7 … Continued

Intermediate

Higher bond yields in focus; growth -> value stock rotation continues

Macroeconomic/ geopolitical developments The focus this past week was on the US Federal Open Market Committee (FOMC) interest rate decision, statement and press conference, with a still very dovish stance emphasised again. However, a slight shift in the dot plot chart towards a possibly earlier than expected rate hike in 2022 from some members eventually … Continued

Beginner

Value stocks rally as growth stocks rebound, despite higher yields

Macroeconomic/ geopolitical developments President Biden’s $1.9 trillion COVID relief bill was passed into law this week. A lower-than-expected US CPI report on Wednesday calmed inflationary worries and built on the strong US jobs report from the prior week. This sent value stocks surging higher and allowed for a rebound in growth stocks, which continue to … Continued

Beginner

US Dollar gains with higher yields, with stocks choppy

Macroeconomic/ geopolitical developments Another relatively quiet week for global financial markets from a macroeconomic and geopolitical perspective, but as at the end of February price action across the major asset classes was still volatile. The ongoing development last week was the continuing surge in global yields, particularly in the US and notably at the longer … Continued

Intermediate

GameStop (GME) frenzy > wider “bubble” concerns > stocks plunge

Macroeconomic/ geopolitical developments This past week has been all about frenzied stock market exuberance, often a reflection of an inflating equity market “bubble” and the fears and concerns that this activity brings. GameStop shares have skyrocketed in the past week having already seen an aggressive rise in January, driven by a herd mentality of individual … Continued

Beginner

Macro Watch: Bubble Trouble

VIP Guest Interview with Michael Pento (of Pento Portfolio Strategies) In this in depth interview, Steve Miley and Michael Pento talk all things markets, looking at the potential bubbles in US (and global) stock markets and also in Bond markets They look at inflation risks, the threat for US and global asset prices and interest rates Could the US election be pin that pops … Continued

Beginner

How to avoid margin calls

When trading Forex and Contracts for Difference (CFDs) most brokers offer leverage trading or trading on margin. You can learn more about gearing, leverage and margin in our article and video here. Margin trading is used to allow for greater opportunities for larger profitable outcomes, if an individual does not have the necessary capital. Forex … Continued

Beginner

Top 10 Trading and Investing Books

Education, education, education! There are two key aspects too improving yourself in any given venture, whether in sport, in business, in your personal life and certainly when it comes to trading and investing. And the first is educating yourself in whatever you are trying to achieve. The second is to then practice all that you … Continued

Beginner

How to Avoid Forex Scams and Fraud

As individuals, many of us are also investors and a growing number of us are traders. We might buy shares and Exchange Traded Funds (ETFs), purchase government and even corporate bonds, even investing into commodity markets. We might partake in Forex trading, Contracts for Difference (CFDs) trading and also trade the futures and options markets. … Continued

Beginner

Misconceptions about technical analysis

Views about technical analysis vary widely across the investor and trader world, with some believing the analysis of charts and price patterns is a worthless endeavour, whilst others believe it critical to any investing or trading strategy. Many misconceptions and falsehoods have, therefore, been formed with respect to charting, as technical analysis is also known. … Continued

Beginner

Six Key Mistakes New Forex Traders Make (and How to Avoid Them)

Forex trading and other similar forms of financial markets trading, such as spread betting and Contract for Difference (CFD) trading have seen a surge in popularity in the 21st Century. And alongside this popularity has come a huge number of new traders, with little or no experiences of financial markets.  Although many of these newbie … Continued

Beginner

Why you should keep a trading log

Development can be tracked by considering the history of a set of actions and outcomes. For a trader, if you want to learn how to successfully trade Forex and CFDs (or any of the financial markets), it is key to be able to monitor your progress, to improve and become more successful at trading. Keeping … Continued

Intermediate

Trading in Volatile Markets

Success in trading is always a challenge and can be difficult even with vast experience and a solid, structured training plan, that has been built over time and tested. However, when markets shift to a more volatile phase, even the most experienced trader or investor can find successful trading and investing extremely difficult. Here we … Continued

Intermediate

Which Forex markets and currencies should I trade?

We will look at: What are the major asset classes choices? Where to start with FX? Fundamental versus Technical Analysis The “FX Majors” Safe haven currencies “Risk” or commodity currencies Cross currency analysis Peripheral currencies and Emerging Markets What Forex markets are best suited to you? If you are relatively new to financial market trading … Continued

Intermediate

CFD (Contract for Difference) Trading, Forex Trading and Spread Betting – similarities and differences

In this article we are going to take a look at the history of Contract for Difference (CFD) Trading, what CFD Trading is and what are the advantages. We will also focus on Forex Trading, which is really just a subset of CFD Trading and also look at Spread Betting and how Spread Betting accounts … Continued

Beginner

The History of the Pound

In this article we are going to look at the British Pound, the world’s oldest, still used currency. We will explore the Pound in a historical context, looking at its roots in the Forex market, we will follow the Pound into the modern era and on into the recent Brexit saga. We will also look … Continued

Beginner

Top Ten Economic Data Points from the US

Here at FX Explained we have looked at the importance of macroeconomic data on domestic economies in our educational video and article Fundamental Analysis, in our Master Academy series. This “big picture” data can provide an insight into the overall state of a domestic economy and assists traders and investors in their decision making processes … Continued

Beginner

Charts Patterns: Reversal Patterns

In this Master Academy educational video and article, we are looking at Charts Patterns, focusing on Reversal Patterns. Charts Patterns A chart pattern is a distinct formation on a chart that signals potential for future price movements Technical Analysts use these patterns to identify current trends, trend reversals and for buy and sell signals There … Continued

Beginner

Trend, Trendlines and Channels

In this Master Academy educational video and article, we are introducing the concept of Trend, Trendlines and Channels. What is Trend? Markets tend to move in a general direction or trend An Up Trend An up trend is a sequence of higher highs and higher lows In an up trend, price will rally to a … Continued

Beginner

Support and Resistance

In this Master Academy educational video and article, we are introducing at the basic concepts of Support and Resistance.Support and resistance represent key junctures where the forces of supply and demand meet. Support Support is the price level at which demand is thought to be strong enough to prevent the price from declining further A … Continued

Beginner

Fundamental Analysis

In this Master Academy educational video and article, we are looking at the basics of Fundamental Analysis. Fundamental Analysis There are FOUR subcategories that come under the banner of Fundamental Analysis: Macroeconomic Data Analysis Central Bank Analysis Geopolitical Events and Geopolitical Risk Analysis Microeconomic Analysis and Corporate Data Below we look at these in more … Continued

Beginner

The FxExplained Top Ten Traders of All Time

Since the development of financial markets there have been many impressive winners and catastrophic losers, with some spectacular tales of significant market losses by individuals and corporations. However, it is towards the winners that we are all attracted. The ability to produce significant market outperformance, both in the short-term and over longer time periods have … Continued

Beginner

Stock Market Indices

In this Master Academy educational video and article, we are looking at Stock Market Indices. In this article we will look at: What is a Stock Market Index? What are the types of Indices? How are they calculated? Stock Market Index Examples What is a Stock Market Index? A Stock Market Index is a weighted … Continued

Beginner

Introduction to Technical Analysis

In this Master Academy educational video and article, we are looking at an Introduction to Technical Analysis, elaborating on the brief introduction we had in our article Fundamental vs. Technical Analysis. In this article we will look at: What Technical Analysis is, the Principles of Technical Analysis Chart types Time Frames Principles of Technical Analysis … Continued

Beginner

Fundamental vs. Technical Analysis

In this Master Academy educational video and article, we are looking at the basics of the different approaches to analysing financial markets that come under the titles Fundamental Analysis and Technical Analysis. Fundamental Analysis There are FOUR subcategories that come under the banner of Fundamental Analysis: Macroeconomic Data Analysis Microeconomic Analysis and Corporate Data Central … Continued

Beginner

Order Types

In this Master Academy educational article and video, we are concentrating on different types of orders that can be placed with brokers. We are going to look at FOUR differing types of Order. 1. Limit Order 2. Market Order 3. Stop Order Stop Exit Stop Entry 4. OCO Order 1. Limit Order An order to … Continued

Beginner

Gearing, Leverage and Margin

In this video and article, we are looking at the concepts of Gearing, Leverage and Margin. Gearing, Leverage and Margin are interconnected concepts in trading. LEVERAGE (also known as Gearing) works by using an effective deposit, known as the MARGIN, to provide you with increased exposure to an asset. A fraction of the full value … Continued

Beginner

What are the FAANG Stocks?

The upgraded acronym FAANG is a development of the original acronym, FANG, which was proposed by Jim Cramer on CNBC back in 2013. FAANG stands for: Facebook (FB) Amazon (AMZN) Apple (AAPL) Netflix (NFLX) and Alphabet (GOOG) (parent company of Google) These are five of the most popular and strongly performing technology shares in the … Continued

Intermediate

FAANG stocks in the spotlight

In today’s report we are going to take a technical analysis look at the FAANG shares, Facebook (FB), Apple (AAPL), Amazon (AMZN), Netflix (NFLX) and Google (GOOG, Alphabet). Facebook (FB) A firm June rebound from above a key March support at 159.28 (from 160.24) has neutralised the intermediate-term bear trend that was set up with … Continued

Beginner

Trading Terms

In this video and complementary article, we are looking at some basic trading term used in financial markets trading. Buy and Sell Long and Short Bull and Bear/ Bullish and Bearish Risk On and Risk Off Buy and Sell/ Long and Short As a trader, if we think a market or asset is going to … Continued

Beginner

Choosing a Broker – Eight factors to consider when choosing a Forex Broker

In this video and accompanying commentary, we are looking at the EIGHT factors that any prospective trader should consider when choosing a Forex Broker or for trading any financial markets. The EIGHT factors we would suggest considering when choosing a FX Broker are: Trust Investment Offerings Commissions and Fees Trading Platform Research Education Customer Service … Continued

Beginner

Asset Classes

In this article and accompanying video we are looking at the different asset classes that investors and traders can invest in and trade. The four main asset classes we are going to look at are: Equities, stocks, shares (including indices, or averages) Bonds (Government and Corporate) Commodities Foreign Exchange (Forex, FX and currencies) Equities, stocks, … Continued