Has anyone noticed trading on Mondays usually end negative most times. What could be the technical reason for this?
Fridays market was zigzag, am staying out trading tomorrow cos there is no clear sign where price could be heading

harizonal123:
Has anyone noticed trading on Mondays usually end negative most times. What could be the technical reason for this?
Fridays market was zigzag, am staying out trading tomorrow cos there is no clear sign where price could be heading

This is fear and its because of your fear the market will go zig zag...if you look at your chart history you wouldn't even notice Mondays zig zag because there isn't any..its just a figment of your imagination..

Price continues to respect S/R levels monday through friday...

Pls house, anybody who knows a good coder can send me a referal, need someone to automate a system ASAP

harizonal123:
Has anyone noticed trading on Mondays usually end negative most times. What could be the technical reason for this?
Fridays market was zigzag, am staying out trading tomorrow cos there is no clear sign where price could be heading

Most pro I know stay out of Monday market. It's quite unpredictable most time. Im following the train as well.

jorel1:
This is fear and its because of your fear the market will go zig zag...if you look at your chart history you wouldn't even notice Mondays zig zag because there isn't any..its just a figment of your imagination..

Price continues to respect S/R levels monday through friday...

No doubt, fear is a factor. But not this case. You can't compare Monday to Thursday or Friday market. Monday market play mind games (my opinion) and it's not as volatile as other week days.

jorel1:
#GBPAUD , if we dont get a gap down during the weekend, looking to buy from
Current price currently at support 2.1357
Next Support level 2.131
Last week low 2.124

TP: 900 pips

I see GA going to 1.15200 before anywhere else.

nasyl:


No doubt, fear is a factor. But not this case. You can't compare Monday to Thursday or Friday market. Monday market play mind games (my opinion) and it's not as volatile as other week days.

Well i agree with if i consider your opinion from a day trader's perspective, but you shouldn't rule out the fact that if you are a medium to long term trader, you could find a comfortable entry whether a high or low anytime irrespective of zig zag movements , to give you a relaxed mind as you wouldn't be disturbed by the recurring fluctuations of price during the week or month depending on your trading style.
Mondays doesn't in anyway influence the long term direction of price.

Cul4real:
Please house, which one is even most easier or less complicated between binary option trading and forex trading especially for newbies? Thanks.

forex is far better. pay attention to fundamentals and you will see how forex is predictable most of the time

jamace:
I see GA going to 1.15200 before anywhere else.

A breach of 2.124 would be my sell trigger.
But i hope 2.124 continues to act as support to buy.

Thanks ma.Boss.

But ao do u use d SMA? Do LONG above it and SHORT BELOW IT, I can see it acting like Support and Resistance

Thanks once more

[Qquote author=jorel1 post=36534694]
Its a 50 SMA[/quote]

GBPAUD
BUY @ 2. 13660
TP @ 2. 15100
SL @ 2. 122850

Best of luck.

I guess the only driving force to send gbpaud down for a correction is a bad economic report from England.
Watch out for any high level economic report with a negative actual result having a huge deviation from forecasted value.

jorel1:
This is fear and its because of your fear the market will go zig zag...if you look at your chart history you wouldn't even notice Mondays zig zag because there isn't any..its just a figment of your imagination..

Price continues to respect S/R levels monday through friday...

Best Days to Trade

While the Forex market already opens on Sunday evening Central European Time (Monday morning in New Zealand and Sydney) it is not recommended to start your trading week on Sunday already. Unless there was major news over the weekend there won’t be much going on as volumes and volatility are usually at an extreme low on Sunday evening.

Monday can also be very difficult to trade as many traders – especially in Europe – wait for economic news and macro data before they put up new positions. Trading ranges on Monday are usually smaller on average compared with the other days of the week. Tuesday, Wednesday and Thursday are considered to be the best days of the week for forex trading. These three days are usually the days which get the most action. If you want to trade only three days a week and spend the rest of the week at the beach you should chose these three days.

The first half of Friday is also pretty decent for trading but please be aware that volumes dry up in the second half of the day as traders head for the weekend. Be also aware of the fact that on Friday trends which have persisted for the whole week can be reversed on Friday’s as traders close their positions to avoid the weekend risk. You should be especially cautious on the first Friday of each month as this is the day when the non-farm payroll report from the US is due. This data usually leads to erratic swings in all major currency pairs, especially in the dollar related pairs.

http://theforexchampionship.com/blog/trading-school/good-time-trade-forex/

www.nairaland.com/2497864/emefiele-cbn-supports-banks-decision
Does this mean we can't deposit Dollars into Domiciliary accounts to fund our trading accounts?

disaac73:
www.nairaland.com/2497864/emefiele-cbn-supports-banks-decision
Does this mean we can't deposit Dollars into Domiciliary accounts to fund our trading accounts?

In normal countries, deposits are usually made in the local currency and its the banks responsibility to determine the exchange rate and carry out the transfer.
Its only in Nigeria/Africa I hear often of domiciliary account, a standard account should have an IBAN neccesary for international transfer.So probably the CBN governor has plans for this if he really knows what he is doing or preferably the banks needs to upgrade.
you could try PAypal

disaac73:
www.nairaland.com/2497864/emefiele-cbn-supports-banks-decision
Does this mean we can't deposit Dollars into Domiciliary accounts to fund our trading accounts?

So for those that need to transfer monies for school fees, medical bills and other legitimate transactions, how do they do that?

Our foreign exchange regulations provide how people can carry out their legitimate businesses, including payments of school fees, mortgages and other bills. All you need do is to go to your bank, fill the Form A and support it with the relevant invoices and the dollar will be wired to wherever you want it wired for your legitimate transactions Don’t forget, before now, we always had BTAs and PTAs and what we did was to complement it with the activities of the BDCs. We made it more flexible, so we have BDCs carrying out retail transactions for those who are travelling and want to pay medical bills. What we are saying is that these transactions must be done within the ambit of the law. The problem we have is not people who want to carry out legitimate transactions, either for payment of school fees and others, but we have certain people who are involved in currency substitution. There are certain people who got their wealth illegally and are thinking of the best ways to launder these funds. That is the main issue.

That should clear up your misunderstanding. If you are depositing money that is to be transferred instantly for legitimate reasons you don't have any issues. However, you have to move withdrawals over to your current account when it comes in. Talk to your own bank if you are still unsure but any serious trader should be depositing and withdrawing through bankwire mostly. All these e currencies can disappear anytime. Remember days of liberty reserve.

adeniyia33:
Thanks ma.Boss.

But ao do u use d SMA? Do LONG above it and SHORT BELOW IT, I can see it acting like Support and Resistance

Thanks once more

[Qquote author=jorel1 post=36534694]
Its a 50 SMA

As it moves, it coincides with horizontal support and resistance. I only use it to gauge the current market condition whether ranging (flat) or trending (increasing angle) taking in to consideration price will always return to the mean value.
There is more to it than I describe here.

Thank you

jorel1:

As it moves, it coincides with horizontal support and resistance. I only use it to gauge the current market condition whether ranging (flat) or trending (increasing angle) taking in to consideration price will always return to the mean value.
There is more to it than I describe here.

jorel1:
I guess the only driving force to send gbpaud down for a correction is a bad economic report from England.
Watch out for any high level economic report with a negative actual result having a huge deviation from forecasted value.

GBP Manufacturing PMI - Still Bullish result

If 9553 is broken for the AUDCAD pair, open two lots and take first tp at 9408 and the second tp at 9230. SL is at 9620.

Be careful with buys for GA. It's dangerously getting close exhaustion. if 21227 is broken then all uptrend is done. 21227 is the confirmation price.

Bollinger:
Be careful with buys for GA. It's dangerously getting close exhaustion. if 21227 is broken then all uptrend is done. 21227 is the confirmation price.

Lets see how current 4 Hr candle closes
The indecisive movements with this pair is due to the News reports from Australia scheduled tomorrow morning, i guess this will determine its fate bull or bear.

AUD Retail Sales m/m
AUD Trade Balance
AUD Cash Rate
AUD RBA Rate Statement

AU RBA Interest Rate Decision today is expected to remain unchanged today, but RBA could definitely cut rates and surprise market in the process. Seeing that commodities are continuing their descents, rate cuts is not completely off the table…
Ultimately the AUD is a bit bearish as RBA has opened the door for rate cuts and considering recent drop in crude prices, RBA definitely have room for rate cuts…

According to 4hours 1,2,3, pattern indicator and Fractals,
Sell, GBPAUD now at 2.1411, stop loss is 2.1511 and take profit is 2.1211.
this trade will stay till this time morrow.

By the same indicators above on 4h time frame.
EURGBP is a buy now at 0.7030, first take profit is 0.7130, stop loss is 0.7000

Funny fx pixs. Would just make you laugh.

Enjoy

http://www.forexfactory.com/showthread.php?t=550518&page=3

iheanyiebeneze:
By the same indicators above on 4h time frame.
EURGBP is a buy now at 0.7030, first take profit is 0.7130, stop loss is 0.7000

Boss, pls explain this to me (from forex trendy signal). GBPAUD; Buying signal, Break @ 2.1413. Thanks.

They said you should buy GA at that price, but this signal without stop loss and take profit is not a good one.Unless you decided not to include them.

iheanyiebeneze:
They said you should buy GA at that price, but this signal without stop loss and take profit is not a good one.Unless you decided not to include them.

THANKS. pls educate me on the best and normal stop loss and take profit ratio.

Dont be in a hurry to lose money, let the price come to you..
Missed an entry?? dont get caught in the middle by pursuing price (Its like missing your train and you jumped into the track to catch it, you only end up getting hit by another train. Just wait for another train) , price will always revisit or establish a new zone.