efe21: Haaaaaaa... Mentorship keeee... Nooooo . Thanks so much Bro for the encomium, was only passing through though because I honestly just saw the trend on nairaland. Didn't know there is a trading community here on nairaland. Kudos to the Op that created such a great trends as this, and I salute all of you for keeping it real too. I wish us all a profitable trading week ahead this week... Cheers 🍷.
All your ideas are accurate, we should be expecting a rally in AU from the look at fundamentals.
Also 25/10/23 high was the bullish BMS not 11/10/23 you marked.
Like I stated in my last post, the failed high in Dxy and the LL on ZNand AU is a confluence that price might go lower on Dxy and 10y because the later printed a HH.
But then they might just go below 03/10/22 low and that is a really deep discount. Today will show us the road map and CPI too.
Davigle: I'm also keeping tabs on AUDUSD because I suspect a monetary policy divergence. I think there might be a huge bullish rally or run in the coming weeks or months on AUDUSD, this maybe due to the fact that the Fed's new stance on keeping interest rates unchanged or cutting it down in the future (this may be confirmed if CPI does come out lower) and the RBA are still hiking interest rates, we may potentially see a monetary policy divergence between the USD and AUD, and as a result a significant rally in price should manifest on the Aussie. Now that's from a fundamental point of view, I really wish they update the COT reports so that we can see what the commercial's position is on the AUD, I would be keeping tabs on AUDUSD due to this new development and see how price unfolds cheers. I would also like to know your view on this. Although I maybe wrong though but I would like to see how it plays out for study purpose.
Well spoken Efe, show us your track record because most of us here are still learning and a few people might even contact you for mentorship.
efe21: Because I am seeing this trend for the first time.... It's remind me of all those Forex forums that year when men were still coming up as traders. LoLzzzzz 😁😁😁.... Someone above was even explaining the chart with DXY nonsense forgetting that price action backed with the market structure per time is the Koko..... Trading is too simple without much over analysis.
Common change in character followed through with break of market structure and a retest with the formation of the candlestick pattern to cement the confluences will give you a good entry that will cummulate in a profitable trade per time.
Then rinse and repeat over and over again with good money management in place (stop loss and take profit level established), then you are good to go..... LoLzzzzz .
Good evening Davigle. Your charts are great and i share the same bias too.
Dxy printed a LH when 10Y took out it's 02/10/23 weekly high on wk tf which also happened on AU and ZN for bonds too.
For now the questions i ask myself before taking a trade
-What is the htf doing
-Where is price coming from IRL/ERL
-Where is price now P/D, IRL/ERL and
-Where is price likely to go next P/D, IRL/ERL
Coupled with time of the day for entries.
Davigle: Hello fams, here's my view on the market this coming week, DXY 👇👇👇: From a fundamental point of view, investors sentiment on the DXY is bearish as a result of decline in treasury yields and Powell's hawkish remark on raising interests rates, this makes investors to believe that if CPI comes out lower it will confirm that the Fed's are done with hiking interest rates and that they will start cutting interest rates in either May or June 2024. The rippling effect is that we may see a drop in the bond market and DXY which will drive the stock market up as well as foreign currencies. Now technically speaking I'm bearish on the DXY see charts below.
AU analysis: Weekly closed bearish while hitting the monthly bearish gap low, September high which is a form of IRL. Anticipating price to seek ERL on the monthly. Price is now in a deep discount on the weekly where it may seek ERL which is the high that hit the low of monthly gap. Monday will give a clear direction along with cpi.
COT report has not been updated.
My bias for last week was wrong, hopefully this week may be right.
AU analysis: Weekly closed bullish while taking out weekly sell stops 3 bar price pattern. Price is now bullish maybe drawing to the monthly gap between July low and September high.
Bar chart technical are showing a buy, comm. are net long, while the hedging program is still at the extreme buys. IOF on the D1 is aligning bullish from my own view. Weekly tf is bullish from the current range and i will be looking for buys below Sunday op and Monday 6pm op.
closed last month comp with 12%. No trades for this month.
Journal your trades.
Davigle your Markups are nice, Usd will likely drop due to seasonality and quarterly shift and Powell may likely not hike rates till Q2 of next year.
AU analysis: Weekly closed bullish while taking out weekly sell stops 3 bar price pattern. Price is now bullish maybe drawing to the monthly gap between July low and September high.
Bar chart technical are showing a buy, comm. are net long, while the hedging program is still at the extreme buys. IOF on the D1 is aligning bullish from my own view. Weekly tf is bullish from the current range and i will be looking for buys below Sunday op and Monday 6pm op.
closed last month comp with 12%. No trades for this month.
AU analysis: Weekly closed bullish while taking out PWL/H. Also, 03/11/22 low target has been hit. Next target is 13/10/22.
Bar chart technical are showing a weak sell, comm. are net long, while the hedging program is still at the extreme buys. IOF on the D1 is bearish from my own view. Weekly tf is heavily bearish and i will be looking for sells above Sunday op and Monday 6pm op.
us 30 target was reached.
Journal your trades.
Davigle your Markups are nice, Usd will likely drop due to seasonality and quarterly shift and Powell may likely not hike rates till Q2 of next year.
Davigle: Do you also use the 90minutes cycle by traderdaye I concur with the XAMD ( reversal, accumulation, manipulation and then distribution), as it looks like price has reversed and it's consolidating on the 4h chart ...
Davigle: Advice to fellow newbies here, life is always full of dramas and bruhahahas, but it pays to be focused by not being distracted by what's going on around you... There are certain folks here on FTA that I idolize and kind of see them as my FTA mentors; Boss infofirst, charly20, samfelly my oga, Donsheddy, geovani, abham, rhynoemmie, kozmicity and jameselias. I always look out for their post whenever I'm on FTA because I'll definitely learn one or two thing from them. So fellow noobs, pick someone that you can learn from here and do not be distracted by the vavuvulence going on here ...
LET PEACE REIGN OOOOO OOOO EDAKUN TORI OLOUN SAY NO TO WEEKEND VAWULENCE #PEACEMUSTREIGNBYFORCE
XAMD playing out on gold weekly, q4 is probably distribution.
Davigle: Oga Sam, why you dey whine me now, small boy like me wey neva Sabi anything, naim im you dey call boss. Ogami, you dey whine my kidney ooo,😁😁😁... I do not trade gold as persay ah neva hundastand the wéré but here's my humble submission to your request, and pls do take note that market may as well rubish my analysis as no be my papa get am. Also with FOMC and NFP coming this week, gold would definitely be wild with crazy price swings. Do take care boss.
I share the same bias with you on theses assets, that is the beauty of using Michael's concept correctly.
Your indices mark up too, i learnt a thing or two from it. Also if i were to trade us30, Q1 low will be my target as it is below the yearly open then i may be stalking longs from that point.
Nice to see you adding Quarterly shift/ IPDA to your analysis, Your gold analysis too is fire.
AU analysis: Weekly closed bullish while taking out PWL/H. Also, 03/11/22 low target has been hit. Next target is 13/10/22.
Bar chart technical are showing a weak sell, comm. are net long, while the hedging program is still at the extreme buys. IOF on the D1 is bearish from my own view. Weekly tf is heavily bearish and i will be looking for sells above Sunday op and Monday 6pm op.
AU analysis: Weekly closed bullish with a long wick to the top and small body. Neither PWH/L were taken and this prints an inside bar while 03/11/22 low target has not been hit.
Bar chart technical are showing a strong sell, comm. are net long, while the hedging program is still at the extreme buys. IOF on the D1 is bearish from my own view. The last LL failed to take out the HH 11/10/23 which formed the low, anticipating the lows to be taken out.
October comp Returns: +16.87% but this is just floating profits as my trades are all still open and sl can be hit. If tp hits before the end of the comp, my plan is to day trade the remainder of the comp.
Congratulations realone12 for achieving that feat, happy birthday Kozmicity, gabsonfx2, from view, Us30 may likely drop to maybe MAY's low if there is no significant bullish structure shift on the daily.
I am sorry about this but you still won in the aspect of experience. You will only get better.
realone12: the way I quickly Rush to announce my success, let me use the same energy to announce my failure.
you can be the most talented trader on earth, but if you are greedy and not discipline, you are as good as a newbie. a Man who cannot say something and stick to his word is not ready to face life.
ladies and gentlemen, meet Realone, the most greedy and indisciplined trader in history of forex trading.. I resolved not to trade again after hitting 65%, but on waking up todays, I opened my chat and saw an almost perfect set up. I quickly made a calculation in my head that even do I lose 4% today I will still end up winning a cash price and a challenge account. that why not take the risk.. I ended up risking 4% of 165000 which is 6600. I thought even if I lose the trade I will end up at around 161k which is still a good position. but what o failed to understand is the DD calculation is based on the initial balance of the 100k, so the 65k profit I earned doesn't account.. that's how I ended up 6600 thinking it's 4% not knowing that everything is being calculated in respect to the initial balance, so that makes the 6600 risked above the 5000 daily DD.. after some few hours I placed the trade, decided to check the trade and I found out that I have breached the daily DD.. just like that.. all the hope all the dream everything was gone. I can only blame myself.. I doubt if I will ever be able to attain this fit coz this trauma Will remain on me for a very long time..
brothers, I present myself for your brutal insults and scolding.. I am my own biggest obstacles
My view for 10y yield, maybe low of the week forms when price hits weekly level 4.750 today or tomorrow.
Davigle: Waddup pipul, it's ya boy the indisciplined trader and I am here to share my market views for the coming week. Although last week was pretty dirty for me as market was just flogging me up and down 😥. I chop beating no be small but las las we mueve...😁
AU analysis: Weekly closed bullish with a long wick to the top and small body. Neither PWH/L were taken and this prints an inside bar while 03/11/22 low target has not been hit.
Bar chart technical are showing a strong sell, comm. are net long, while the hedging program is still at the extreme buys. IOF on the D1 is bearish from my own view. The last LL failed to take out the HH 11/10/23 which formed the low, anticipating the lows to be taken out.
October comp Returns: +16.87% but this is just floating profits as my trades are all still open and sl can be hit. If tp hits before the end of the comp, my plan is to day trade the remainder of the comp.
Congratulations realone12 for achieving that feat, happy birthday Kozmicity, gabsonfx2, from view, Us30 may likely drop to maybe MAY's low if there is no significant bullish structure shift on the daily.
Journal your trades.
abham: Good evening all, Academic work had my attention this week as I would like to touch other aspects of life, not just forex.
Au, weekly closed bearish after D1 premium array was hit on Wednesday. Target is still 03/11/22 low with price already below monthly opening price.
Barchart are showing a strong sell, commercials are net long but the hedging program is showing extreme buying. My focus now jumps to IOF on D1. Currently, price just made a Lower High with Wednesday candle and my anticipation is price to take out the low which produced the high i.e. 03/10/23 down candle.
For the 10 yr yield, the only way I can explain it from my understanding is that, it is what investors will seek when there is increase in interest rates. Take for example a country with higher interest rates will attract more investors because once they perform business there, they get a better return and 10 year yield is the backing for usd showing its value, i.e. 10y yield shows usd strength or weakness and we know usd is king.
Gu, Au, Eu have their own yields.
Petah: thank you for the update chief, what's the importance of this ten year yield? Give you give further explanation on it. Would really appreciate it. Thanks a lot. Your statement about it correlation is true. I am still learning. Your insight Change a life. Boss.
Look at good old 10y bonds on weekly davigle, hopefully it drops to the blue arrow till then I personally will not buy xxxusd or sell usdxxx.
Just my opinion again, I advice you back-test and journal your findings.
abham: My weekly perspective on 10y yield. Personally, I make analysis here to support my bias on other assets and to sharpen my analysis skill.
Till price gets to the top of the blue arrow on weekly, I see no practical reason to buy XXXUSD or sell USDXXX assets as this correlates with dxy and negatively correlates with bonds, fx and Indices, I may be wrong too but this is just my opinion.
Do well to back-test and journal, I'm not even doing enough back-test sef.
My weekly perspective on 10y yield. Personally, I make analysis here to support my bias on other assets and to sharpen my analysis skill.
Till price gets to the top of the blue arrow on weekly, I see no practical reason to buy XXXUSD or sell USDXXX assets as this correlates with dxy and negatively correlates with bonds, fx and Indices, I may be wrong too but this is just my opinion.
Do well to back-test and journal, I'm not even doing enough back-test sef.
Stay disciplined and Have a great week.
Davigle: A million thanks sir for the video, I actually do have this but I didn't watch it as I felt the 2023 mentorship was an overload of knowledge, but I will go watch it now immediately. I do actually use the D1 and H4 to pick my intraday PDA, I only look to H1 as confirmation or confluences to the H4. and also I'm not averse to knowledge, confusing or not I am willing to put in the work to learn so pls do not hesitate to share any tip or lesson with me. I'll humbly learn as much as I can.
I like your accountability Mr Sheddy... I guess if you journal any trade you won listing out the criteria, you can look out for the same criteria before taking the next trade.
So I figured that i don't need to stop trading when the weekly target is met it won't help my learning process or help me understand how profitable it is if i trade everyday and 💯 disciplined...
So i created two accounts, one i will trade always as long as i get signal...and one i will stop trading when i hit 70 pips profit.....
Monday --- 32 pips profit
Tuesday --- 43 pips profit
Wednesday --- 41 pips profit
Thursday --- 27 pips profit
Friday. --- 23 pips profit
Total --- 166 pips profit Min profit target - 70 pips met
Good evening all, Academic work had my attention this week as I would like to touch other aspects of life, not just forex.
Au, weekly closed bearish after D1 premium array was hit on Wednesday. Target is still 03/11/22 low with price already below monthly opening price.
Barchart are showing a strong sell, commercials are net long but the hedging program is showing extreme buying. My focus now jumps to IOF on D1. Currently, price just made a Lower High with Wednesday candle and my anticipation is price to take out the low which produced the high i.e. 03/10/23 down candle.
No trade has been taken in October comp account.
Journal your trades.
abham: Nothing much from my end. I'm having devices challenge, would give an update next week. My advice is to start trading on Wednesday prior to CPI if you already have an understanding of htf but if not, wait after CPI as it could be brutal.
davigle, sorry for what you went through, Friday was a clear buy on indices, also my advice is to journal your trades so that the procedures you took for the winning trade would be followed next time you take a trade.
Good Evening Davigle, there are a lot of parameters that go into journaling my trade and it might not fit your cup of tea but I basically look out for d1 level prior to 9:30 OPR , if there is none, i scale down to the next tf which is h1 and that is the last tf I work with for marking out PDA. This is how my Plan on Indices trades basically looks like but there is more to it which might confuse you.
Attached is a video to help you, PS, you might not understand it at first but watch and practice it, journal too.
Davigle: Thank you sir for your kind response. I didn't see that until it was late for me, hence I have decided to focus on indices henceforth because I noticed that price delivery is much better on indices than currencies . and I will make sure I try and journal every day which is one of my biggest week point. I really have not been consistent with journaling. if I may ask sir, do you also journal on paperback (book). so far the only way I've been journaling is by annotating my charts and then screenshot it and keep it in a folder. but if you have better tips or suggestions on journaling, I humbly welcome them.
Nothing much from my end. I'm having devices challenge, would give an update next week. My advice is to start trading on Wednesday prior to CPI if you already have an understanding of htf but if not, wait after CPI as it could be brutal.
davigle, sorry for what you went through, Friday was a clear buy on indices, also my advice is to journal your trades so that the procedures you took for the winning trade would be followed next time you take a trade.
abham: Weekly candle closed bearish with long wicks above and below, scary. The EQH on the daily was not traded to as anticipated after price took out 18/09/23 low signifying a bearish sms on the daily after the low failed to create a HH.
Price retraced into the range, formed another EQH on 22&25/09/23. It later took out 21/09/23 low which caused the push up and also failed to create a HH. Price retraced into the range from Thursday and Friday this week. I would be anticipating price to draw to the low of the bearish range for this week.
While barchart is showing a weak sell, Commercials are still net long according to COT report, focus is on the hedging program and IOF on the daily. The hedging program is bullish as it is above the zero line but IOF is bearish after the last sms which was bearish, we wait to see what Monday presents. Also, Open interest dropped while price is in premium of the current dealing range so I am anticipating a drop.
September competition Return: +2.25% Hopefully this month will be better as there are signs of improvement striving to be 1% better everyday, also journal your trades guys,
NQ is the sick sister among the 3 indices. Reason is because it has not taken 20dssl/ PML.
9:30 OPR might come for it. I will attach photo.
kozmicity: On the H4, I'm still seeing a buy... It's almost ready.
God Bless You infofirst.
infofirst: "People will inevitably exploit privileges; it's a facet of life. However, if there's even one individual who uses them correctly, isn't that reason enough to justify the giveaway?
I understand this may not be conventional to share, but I'm doing so to underscore my point. My apologies to @donsheddy for this. We all concur that @donsheddy has made significant progress. But do you believe this progress was solely achieved through trading free trials and demo accounts? No, he advanced through trading trials, demos, proprietary firm challenges, and personal accounts. I've lost count of how many proprietary challenges I arranged for him, and yes, he did lose some of them. Yet, he was accountable for those losses.
If I had given up on him back then, would he have the confidence to accept a $200k opportunity from someone who believed in him today? I'm quite sure he wouldn't have if he hadn't been preparing for it. Even as at today, all three prop accts he is trading one is from me, one from the fundednext prop giveaway and the third from someone that believed in him.
In my opinion, it's preferable to let 99 potential abusers go unpunished than to deny one honest and hardworking trader here the same privilege. Our focus should be on continuous improvement to minimize the strategies that abusers use to circumvent the rules and regulations.
We are committed to making these improvements, and may God continue to empower us."
realone12: and to you boss gabsonfx2 I want you to know that there are are people here who may disagree with you on certain issues but yet still respect, admire and acknowledge your trading prowess.. and there are others here who may support you on every issues, but only because of what they can gain from you.i know you know. I know you are smart. so don't be carried away by all the fake support.some people naturally don't have genuine loyalty in them.
pristinee: I am Waiting, to see if I can get a sell signal that will show a respect of the 50% fib..... If it breaks that level up (the resistance and 50% fib area), then I ignore completely. Not interested in anything buy, because it is a downtrend on the higher time frame.
Weekly candle closed bearish with long wicks above and below, scary. The EQH on the daily was not traded to as anticipated after price took out 18/09/23 low signifying a bearish sms on the daily after the low failed to create a HH.
Price retraced into the range, formed another EQH on 22&25/09/23. It later took out 21/09/23 low which caused the push up and also failed to create a HH. Price retraced into the range from Thursday and Friday this week. I would be anticipating price to draw to the low of the bearish range for this week.
While barchart is showing a weak sell, Commercials are still net long according to COT report, focus is on the hedging program and IOF on the daily. The hedging program is bullish as it is above the zero line but IOF is bearish after the last sms which was bearish, we wait to see what Monday presents. Also, Open interest dropped while price is in premium of the current dealing range so I am anticipating a drop.
September competition Return: +2.25% Hopefully this month will be better as there are signs of improvement striving to be 1% better everyday, also journal your trades guys,
Good luck next week. Photos attached
abham: Weekly candle closed bullish with a small body.
Equal highs is a suspect after PML was traded through. Commercials are net long also and the Daily market order flow is seeking higher objective from how I see it because I may be wrong.
Sept comp: -1.2%. Indices took more from me than it gave me this week, also journal your trades guys... Photo is not uploading and I've uploaded twice.
abham: Weekly candle closed bullish with a small body.
Equal highs is a suspect after PML was traded through. Commercials are net long also and the Daily market order flow is seeking higher objective from how I see it because I may be wrong.
Sept comp: -1.2%. Indices took more from me than it gave me this week, also journal your trades guys... Photo is not uploading and I've uploaded twice.
This is Valid as he has been the one defending him all round meeting most of the criteria from what i have been reading through the pages.
haryodehjia: I told you earlier this year that you don't really know what you want when the competition was about to start. You actually came up with the notion that infofirst's money is blood money along with different accusations. The hatred and bitterness in you knows no bound but I pray you get healed before it is too late.
The least you can do is to come at me by insulting my parents and that's what you are good at
I'm surprised seeing you going the path of elliotwaveforec too.. Why try to accuse someone you barely know? I understand you are enraged cos you were dragged in this forum and I'm glad you are trying to clear yourself of the mess. But don't pull down your fellow brother over what you are not certain and sure about
If am not wrong this is my first time quoting you but pls can you do this community a favour by gifting elliotwaveforec the account so that the community can have peace? I can't make decisions for you well.
I have to be honest your type are rare. Despite the words n insults you still maintain a your standards God bless you Those praying to see your downfall will be disgraced
I would have suggested Sam but he already has a lot on his hands and he might not be strict with the rules.
Davigle: why everybody just dey vex anyhow for here naw, wuna be vespa ni, walai talai, there is a need for FTA to have a mod just as boss jameselias suggested
Business › Re: Forex Trade Alerts: Season 23 by abham: 6:56am On Nov 13, 2023
