Owliver:
NFP surely will open way. taking a risky trade buying EurAud

Trade your chart not what you think one thing i learnt about nfp is the big players dont mind the news, they just trade the set up prio the news. lol

UJ and EU set up were glaring. and EurAud as well

currentprice:








market judged

nice one

to think i actually missed this level ehn.

Funny. Went and pick my SL and then went up to hit the TP after eliminating my trade.

jamace:
GBPNZD
BUY @ 2.36300
TP @ 2.37300
SL @ 2.35500

200pips tp hit. done for the week.

i was selling AUDUSD silently before but closed(+11pips) it minutes before NFP leaving only EurAud to run due to EU set up... see how price would have taken me out and reverse to sell. instinct

Owliver:
If you are selling GU pls use a big SL . cos them cow boys will set out to take stop losses before the southern movement. Just my opinion.

i have faith in this that i said some days ago.

Owliver:
Trade your chart not what you think one thing i learnt about nfp is the big players dont mind the news, they just trade the set up prio the news. lol

true that... i observed that also.

This is time to test Prof. Okun's law. NFP and UR.
12:30 USD Change in Non-farm Payrolls (SEP)142K 201K 136K
12:30 USD Unemployment Rate (SEP) 5.1% 5.1% 5.1%


Okun's law did not take place,
hence sell EU now @1.1290 for a take profit @1.1150, rrr=1;1.
Also buy uj now @118.90 for a 75pips take profit. rrr=1;1

Trades in positive.
Take what you have now or bring stop loss to BE.
Meanwhile,
A close analysis on the NFP and UR shows that
NFP is too bad for USD and UR is not favorable for USD,
it's only same with forcasted value of 5.1% , had it been that its less than 5.1%,
we would have held to this trade till next week.
Having said that, i suggest you bring stop loss to BE.
Happy weekend!!!

iheanyiebeneze:
This is time to test Prof. Okun's law. NFP and UR.
12:30 USD Change in Non-farm Payrolls (SEP)142K 201K 136K
12:30 USD Unemployment Rate (SEP) 5.1% 5.1% 5.1%


Okun's law did not take place,
hence sell EU now @1.1290 for a take profit @1.1150, rrr=1;1.
Also buy uj now @118.90 for a 75pips take profit. rrr=1;1

beckyseun:
@Toks, thanks for your comment, you are well appreciated. The. Truth is he haas been a friend for close to 10 years, I met him when I was inthe higher institution and he has been trading as n undergraduate. It was early last year I contacted him for forex training and he said he could trade for me, so that when I'm my training, I'll have enough cash to trade with. Since then he keeps lying he would pay, till 2 weeks ago he said he has withdrawn the money and would credit my account. I don't know what to do anymore, reason I came up here for help, he uses instaforex to trade maybe I should report him to his broker so that they can block his trades. Please your input would be appreciated. Thanks you

It is written all over that you shuld not pay people to trade for you. With this you wont repeat it. Thats forex and thats life. I learnt the hard way too though not with that huge sum. After doing my fx training I kept on d demo until someone encouraged me to start even if it is 100USD. I did and it has been a learning curve. Am not saying am always winning but it has been a learning curve. No biz in this world is easy. FX is not easy if one has not really mastered it. Start today and keep learning.

take profit hit on uj.

iheanyiebeneze:
This is time to test Prof. Okun's law. NFP and UR.
12:30 USD Change in Non-farm Payrolls (SEP)142K 201K 136K
12:30 USD Unemployment Rate (SEP) 5.1% 5.1% 5.1%


Okun's law did not take place,
hence sell EU now @1.1290 for a take profit @1.1150, rrr=1;1.
Also buy uj now @118.90 for a 75pips take profit. rrr=1;1

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Owliver:
Trade your chart not what you think one thing i learnt about nfp is the big players dont mind the news, they just trade the set up prio the news. lol

Oga... What about gold?

mrikay:



Oga... What about gold?

yh gold hit a support and formed a bullish pin bar(1hr tf) before the news. Note there were more sellers before the news.

In forex all you need is the discipline to follow your system although it will not be right all the time, but if you make 3 consecutive lost then u are not trading, you are gambling. Learn forex then work on your dicipline. Maybe we should start discussion on strategy we use maybe weekends like this. I will paste my strategy later after I do a write up on it.

seconded ^

Weekly Forex trading analysis (Fundamental, Technical and Sentimental) in progress.....

I usually trade breakout formation, inside bar breakout on the 4hour timeframe with new trend formation mind. Its quite easy but needs alot of patience waiting for the formation. The best result I usually get with trading inside bar breakout with 4hour tf is when the formation occurs at the opening of a new daily candle that is breaking the previous day high or low with 1:2 profit ratio. U can backtest to confirm. Wish I chould add some pictures.

for USDJPY traders its still in the triangle after two false breakouts so keep an eye.

this is daily tf of EURUSD. i dont really know much fundamentals about this pair but it is still safe to trade in line with the triangle set-up. bullish or bearish i know not. over to whoever can help

As for gold. the instrument is still in sell section untill 1171 is taken out successfully. 1141 is a good sell spot too cos of the H&S formation. taking trades from lower tf will be best since theres no clear direction yet.

Is it only me or is any other person having issues logging in to forextime mt4?

Owliver:
for USDJPY traders its still in the triangle after two false breakouts so keep an eye.

na you call am false beakout for me i chop am! lol

Mftivi:


na you call am false beakout for me i chop am! lol

loool. abeg make you dey post alert make me sef follow u sire. am trading live from tomorrow

Owliver:
loool. abeg make you dey post alert make me sef follow u sire. am trading live from tomorrow

when you see that kind of setup again. immediately price closes below that trendline on 1hr go short and TP on the next horizontal you spot. IF price fails to breakthrough it will go up. Dont get greedy, not all kinds of trendline will always work with it there is a special way to draw trend lines. but that usdjpy is a perfect exmple. see that the trend line slope upwards and each time price failed to brekthrough it went up. I keep my slef busy with this strategy while waiting for my swing setups to form completely. SO easy to make 200pips per day.

Mftivi:


when you see that kind of setup again. immediately price closes below that trendline on 1hr go short and TP on the next horizontal you spot. IF price fails to breakthrough it will go up. Dont get greedy

anytime i see small pips set up i overlook them. thats a problem sha. i would rather wait for a clear direction. but thanks sire i will be expecting ur alerts

Owliver:
i was selling AUDUSD silently before but closed(+11pips) it minutes before NFP leaving only EurAud to run due to EU set up... see how price would have taken me out and reverse to sell. instinct

did you ride it back down? check EU also and see how they reacted after news

Mftivi:
did you ride it back down? check EU also and see how they reacted after news

no i did not. i usually gey burnt we. i try such stunt.