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Forex Trade Alerts - Season 2 - Business (5) - Nairaland

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Re: Forex Trade Alerts - Season 2 by Concept(m): 10:16pm On Aug 28, 2011
In the interim: My chart analysis on eur/usd shows that price will reverse to 1.443X. Not bad to short from 1.4501; Target: 1.4435 SL: 1.4551 Don't forget money management.
Re: Forex Trade Alerts - Season 2 by tomm2580(m): 10:22pm On Aug 28, 2011
@blog icon. thanks for evrytin u ve been doing on dis thread, i say kudos to u guys. just started demoing about a week ago, pls if u dont mind, i would also want to be ur student. i beg i need serious tutoring o. my mail tomm2580@gmail.com. thanks once again
Re: Forex Trade Alerts - Season 2 by Concept(m): 10:27pm On Aug 28, 2011
Blog icon:

^^^Thanks for the kind words, but I want to make some corrections. I am not a guru oh! I am just a normal guy trading fx just like everyone else in here; I am not qualified to be called a guru for now.

Concerning your starting fx 2 weeks ago and planning to go live by next week, I would say that it is a dangerous stunt that you should not dare. I don't know how much you have learnt as at now, but I know that demo trading for at least 2 months and seeing consistent profits (on the demo) is a pre-requisite to going live (at least that's the way I see it). As for training you to become a guru, I can only teach you what I know and I'm teaching everyone else. The rest is left to God.

Take care.

Butressing on what Blog Icon has told you.

Forex is not a day work. I started 2006 trading like a blind man. I was buying every material advertised and was using all to trade but no success. I lost money & suffered health problem however God saved me. According to the saying "Failure is a feedback  Make goals - not excuses!" After so many flaws, trying different indicators that would work to a level and fail to click thereafter, frustration upon frustration. I started to try different input into the likes of Bollinger Bands, Stochastics, ADX and the main one that helps not to go out of market range~ Pivot Point (R2 & S2, and with all these I can say market is 70% predictable. The only problem that may arise is your attitude. Are you greedy? 40 to 50 pips is enough for a day.

My pal it took me good 5 years to know what FX meant. It was just like an apprentice, you have to know it to be able to survive on your own. To some, a year training is not even enough, there are some things you must bring out of your own mistakes. These are the things that will make you strong and confident. Best of luck and keep pipping.
Re: Forex Trade Alerts - Season 2 by umozez(m): 10:33pm On Aug 28, 2011
@ concept which timeframe are u using?
Re: Forex Trade Alerts - Season 2 by Nobody: 10:41pm On Aug 28, 2011
Concept:

In the interim: My chart analysis on eur/usd shows that price will reverse to 1.443X. Not bad to short from 1.4501; Target: 1.4435 SL: 1.4551 Don't forget money management.
ride on, 4450 is my first tp

eu opened without change in prices
Re: Forex Trade Alerts - Season 2 by Blogicon1(m): 10:53pm On Aug 28, 2011
@umozez, currently, with my system, I can't see a clear cut direction for the EU pair. It has been very choppy of recent with lots of erratic up and down swings.

Since I trade exclusively the daily charts, the choppy movements don't speak much to me I can't really 'feel' it. But what I can see (and is certain) is that the pair has been clearly ranging between 1.4090 and  1.4550 price levels. There are 2 things to be done in this kind of market condidtion:

1. Wait for sell formations to occur at the ceiling (1.4550 price) level to go short.
2. Watch for a breakout of the ceiling level and take long positions on retest of the broken ceiling.

With that said, I would add that for price to make any strong directional moves, there would need to be a break-out from the current ranging condition. I hope this helps in a way. Safe trading.
Re: Forex Trade Alerts - Season 2 by honeric01(m): 11:16pm On Aug 28, 2011
Concept:

In the interim: My chart analysis on eur/usd shows that price will reverse to 1.443X. Not bad to short from 1.4501; Target: 1.4435 SL: 1.4551 Don't forget money management.

Hmmm.
Re: Forex Trade Alerts - Season 2 by smithereen: 11:33pm On Aug 28, 2011
surveycash:

I see these pairs UC, EJ and Silver heading North next week, Anyone with me or OYO for me? grin

My opinion,

I think we MAY see a little upward movement on UC, however I'd be careful because such movement would be a wave 5 on both the 15M and 4H charts.

As for me, I'm neutral the UC until a sell signal appears - maybe/maybe-not after a small rally on monday/tuesday (who born me to argue with 4H chart?).

As for EJ, I'm getting conflicting signals on multiple timeframes -- make we dey watch.

I personally don't trade Silver, but if I did, I'd consider it's recent luciferic fall from a major high this month, wait/hope for mkt to retrace/climb to somewhere between 42.50 to 43.50 then jump in on any sell signal I receive there.


Of course all of the above is initial theory. As price action unfolds at the start of this new week, one can better refine/abandon the above.
Re: Forex Trade Alerts - Season 2 by surveycash(m): 11:53pm On Aug 28, 2011
This is a short on USDCAD for a tp of 100 and sl of 30pips. The trade has a rrr of 1:3. Attached is the chart showing the entry and exit.

=====================
Blog Icon student, reporting smiley

Re: Forex Trade Alerts - Season 2 by smithereen: 12:04am On Aug 29, 2011
Blog icon:

@umozez, currently, with my system, I can't see a clear cut direction for the EU pair. It has been very choppy of recent with lots of erratic up and down swings.

Since I trade exclusively the daily charts, the choppy movements don't speak much to me I can't really 'feel' it. But what I can see (and is certain) is that the pair has been clearly ranging between 1.4090 and  1.4550 price levels. There are 2 things to be done in this kind of market condidtion:

1. Wait for sell formations to occur at the ceiling (1.4550 price) level to go short.
2. Watch for a breakout of the ceiling level and take long positions on retest of the broken ceiling.

With that said, I would add that for price to make any strong directional moves, there would need to be a break-out from the current ranging condition. I hope this helps in a way. Safe trading.

Completely on-point with my beliefs.

This choppiness you describe is a triangle-type wave 4 which started early in May (see weekly chart). As you can see its ceiling has closed in at this time.

I believe the long term future of the EU is down despite any PR from the ECB. However before that happens we could first see this breakout which you say we should watch out for (wave 5).

Thus if I see a breakout of this weekly triangle (which looks like it's started as I type this) I will be bullish EU for the next few weeks. But always, I'll be watching for the great bearish reversal -- which could come like a thief at night (ask Gold or silver  wink ).
Re: Forex Trade Alerts - Season 2 by FinalSay: 1:56am On Aug 29, 2011
Hi Guys

I am calling SELL EUR/CAD at 1.4208. SL at 150pips. Move SL top BE at 50pips if we see.
Re: Forex Trade Alerts - Season 2 by FinalSay: 2:02am On Aug 29, 2011
Just to add the charts in case u are interested.

Re: Forex Trade Alerts - Season 2 by smithereen: 3:39am On Aug 29, 2011
Final Say:

Hi Guys

I am calling SELL EUR/CAD at 1.4208. SL at 150pips. Move SL top BE at 50pips if we see.

Hey Final Say,
Thanks for the call on ECAD. I just checked and found out it'd be a great pair to complement my basket!

Good call, and excellent SL placement. This pair definitely due for a fall, For me however, I'd wait to see if it'll retrace to between 1.4248 and 1.4274, then hit any sell signal that manifests there. That way I'm 80% sure of at least a 70 pip fall. If those retracement levels are not reached, then I'll pass up the opportunity, and console myself with the short-term buy zone I see unfolding at about 1.4150. (very brief buy ooo, because the big-picture outlook is bearish, ).
Re: Forex Trade Alerts - Season 2 by Concept(m): 5:01am On Aug 29, 2011
honeric01:

Hmmm.
[
I can't get it pal?

smithereen link=topic=743770.msg9030104#msg9030104 date=1314572698:

Completely on-point with my beliefs.

This choppiness you describe is a triangle-type wave 4 which started early in May (see weekly chart). As you can see its ceiling has closed in at this time.

I believe the long term future of the EU is down despite any PR from the ECB. However before that happens we could first see this breakout which you say we should watch out for (wave 5).

Thus if I see a breakout of this weekly triangle (which looks like it's started as I type this) I will be bullish EU for the next few weeks. But always, I'll be watching for the great bearish reversal -- which could come like a thief at night (ask Gold or silver  wink ).

I agree with your view eur/usd is going to be a bearish bang because it looks more bearish but still trading in range for now. We have pros in the house; Blog Icon,smithereen, aguiyi & others. Lets keep opinion coming, we will get there.
Re: Forex Trade Alerts - Season 2 by Concept(m): 5:04am On Aug 29, 2011
Final Say:

Hi Guys

I am calling SELL EUR/CAD at 1.4208. SL at 150pips. Move SL top BE at 50pips if we see.

You are stochastic lover, you have got it all. Keep pipping. Great trader. Thanks for the info. I only trade eur/usd now I can go for it (eur/cad)
Re: Forex Trade Alerts - Season 2 by Concept(m): 5:53am On Aug 29, 2011
Do you agree that mkt can retrace to 1.439x today? I am off to work. I will be back in the evening 8pm GMT. We will see by then what mkt has done. I am seeing bear for now.
Re: Forex Trade Alerts - Season 2 by opsydudu(m): 7:04am On Aug 29, 2011
good morning all, i'm getting addicted here!

i trade using S/R, candlestick pattern and ADX on GU 1hr TF but not with pinbars.

@blogicon, your trading system and strategy got me so curious! How do you teach your students? via email? let me know so i can learn.
Re: Forex Trade Alerts - Season 2 by smithereen: 7:31am On Aug 29, 2011
Concept:

I agree with your view eur/usd is going to be a bearish slam because it looks more bearish but still trading in range for now. We have pros in the house; Blog Icon,smithereen, aguiyi & others. Lets keep opinion coming, we will get there.

I appreciate the thoughts Concept, truely as you said, we must keep the opinions coming so that we learn from each other. Note that I could be right or wrong anytime, same as anyone else (nobody controls the market). The important thing is to have a strategy so that whether we are right or wrong, we close our day in profit!

I'll explain:

Shortly after my last post, I went long EU at 1.4476 and now, I have closed at 1.4535 (59 pips profit). As I type this, EU is trying to resolve this arguement b/w people like me (bulls), and people like you (bears), by bouncing around 1.4540. While this arguement is being resolved I have already banked my EU quota for the day by 6:30am on a monday. (Make dem dey argue, my own na to dey bank).

I believe that EU could be starting a wave 5 rally on the big picture, so I'll be looking for downswings to enter brief longs like this until I have reason to believe otherwise. The sad thing is that the switch from this rally to the great fall WILL happen unexpectedly (this is how wave 5s were designed to happen).

But like I said this is MY BELIEF, and my belief doesn't matter because I could be right or wrong. What matters to me is that I have a theory for the day, backed by 2 plans: 1 to profit if the theory holds, and 2 to profit if the theory fails.

I have learned from you and all the great pros on this thread, so I hope that someday, someone too picks up something from my statement above.

Happy Pipping!
Re: Forex Trade Alerts - Season 2 by Nobody: 7:49am On Aug 29, 2011
Selling EU, stick with me '@ ur own risk grin grin
Re: Forex Trade Alerts - Season 2 by honeric01(m): 8:22am On Aug 29, 2011
odiaero:

Selling EU, stick with me '@ your own risk grin grin

Bro, can you pls come online on the other side, we need to talk about something urgent, please i am waiting,
Re: Forex Trade Alerts - Season 2 by smithereen: 9:03am On Aug 29, 2011
smithereen:

My opinion,

I think we MAY see a little upward movement on UC, however I'd be careful because such movement would be a wave 5 on both the 15M and 4H charts.

As for me, I'm neutral the UC until a sell signal appears - maybe/maybe-not after a small rally on monday/tuesday (who born me to argue with 4H chart?).

As for EJ, I'm getting conflicting signals on multiple timeframes -- make we dey watch.

I personally don't trade Silver, but if I did, I'd consider it's recent luciferic fall from a major high this month, wait/hope for mkt to retrace/climb to somewhere between 42.50 to 43.50 then jump in on any sell signal I receive there.


Of course all of the above is initial theory. As price action unfolds at the start of this new week, one can better refine/abandon the above.



Ahhhh, there's my south train on UC -- right in position, and right on time!

Sold UC @ 0.8134
Sold her playmate Gchf @ 1.3294

Fingers crossed, wink .
Re: Forex Trade Alerts - Season 2 by Nobody: 9:29am On Aug 29, 2011
smithereen!
You might wanna recheck your analysis on gbpchf! All my analysis points NORTH!
Re: Forex Trade Alerts - Season 2 by Nobody: 9:33am On Aug 29, 2011
Am out on scalp on EU, now baby sitting mr Gold  grin
Re: Forex Trade Alerts - Season 2 by roccafella(m): 9:36am On Aug 29, 2011
odiaero:

Selling EU, stick with me '@ your own risk  grin grin
i'm with u man. albeit with a tight S.L @ 1.4552
Re: Forex Trade Alerts - Season 2 by honeric01(m): 9:38am On Aug 29, 2011
sexkillz:

smithereen!
You might wanna recheck your analysis on gbpchf! All my analysis points NORTH!

I thought you were only good at the romance section, you like money too? tongue
Re: Forex Trade Alerts - Season 2 by Nobody: 9:40am On Aug 29, 2011
honeric01:

I thought you were only good at the romance section, you like money too? tongue
its all in the name grin grin grin
Re: Forex Trade Alerts - Season 2 by Nobody: 9:43am On Aug 29, 2011
^^^ You 2 above me, make una free me abeg! grin grin grin I chose to be silent on this section but FOREX is the main thing that keeps me online! cheesy Who no like money? tongue tongue Abeg make una shift jor!grin grin
Re: Forex Trade Alerts - Season 2 by smithereen: 9:49am On Aug 29, 2011
sexkillz:

smithereen!
You might wanna recheck your analysis on gbpchf! All my analysis points NORTH!

I agree sexkillz. All my momentum and volume indicators pointed north as well (still do!). However, I tend to read these things differently.

If it does go north, it'll stop at some point, and I'll be waiting,

Please note that I am often a counter-trend trader (a.k.a: an okada rider doing 1-way on the autobahn, ), so MAKE UNA NO FOLLOW ME O (but make we dey learn sha!).
Re: Forex Trade Alerts - Season 2 by Nobody: 9:57am On Aug 29, 2011
LOL @ Okada Rider! I get you! Many at times i do it too BUT. . . . . grin grin grin
Re: Forex Trade Alerts - Season 2 by smithereen: 10:00am On Aug 29, 2011
honeric01:

I thought you were only good at the romance section, you like money too? tongue

Sexkillz is still in the right place. Money and romance go hand in hand -- if you doubt this, ask the nearest campus babe, wink .
Re: Forex Trade Alerts - Season 2 by Nobody: 10:04am On Aug 29, 2011
Bros abeg tolded them! grin grin grin grin grin
Re: Forex Trade Alerts - Season 2 by Danielqwer: 10:17am On Aug 29, 2011
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