₦airaland Forum

saxy4c:
100pips up on this GBPAUD one. 1400 more pips to go. Let the swing begin

You are the boss. I like the idea of holding it as an investment. . I am in. God bless you my brother.

XAUTrader4L:
check cftc dot gov. its the official website

Thank you .

XAUTrader4L:
Though it comes out on fridays, the data is collected on tuesdays (3 days lag) but can still be used for next week analysis. Also it is for the futures market but can also be used for the forex market, i use the short format of the disaggregated report cos its much simpler for me. There you have three groups which are the non- commercials, commercials and non- reportables. The important one is the non-commercials where there are the money managers/smart money.

For me i use the gold futures only report where under those groups above you have:
commitments- number of net positions they have either long or short
Changes from- changes of those positions from the previous weeks report either long or short. Look at those changes and see whether they added or subtracted from their positions of the previous week, which can be used for next week.

For example gold futures report that came out today, for the non- commercials, total net long position is 330,205 while for short is 67,777 so obviously more bullish positions. Then the changes from last week is -6,825 for longs and -1,895 for shorts. They reduced more longs, so your technical analysis for next week should be for downside. Though it doesnt work all the time but it is a good guide in making your analysis. Nothing works all the time actually. You can also search on youtube for more understanding. Oh and the lowest timeframe you can use this for is 1hr since its weekly, anything less wont be much help.

Thank you XAUTrader4L. I find this remarkably useful. Would you be kind enough to give me a link. Thank you. Appreciated.

Humility with wisdom is great gain. I salute all the gurus in the house. I appreciate you all for the much I am learning. Thank you.

saxy4c:
My brother buy Gold at this 1805 with SL at 1802, you could be aiming for 300pips easily. I'd do up a chart but wanted to give you heads up.

Saxy4c, Right behind you sir. Volume seems to be building up. Probably more volume once US session joins in. I speak as a novice. !!!

Tonyfx:
Sorry Bro I don't have any. I just use support and resistance, trendline and channels. I look for key levels on the weekly chart and go down to the daily timeframe to search for pinbars or fakey signals. Then if a trade starts going in my favor, I start pyramiding the trade. Shikina. E nor pass like dat o. You can do same on lower timeframes also (daily and 4hr charts).

E be like say na I go do ebook oo come give kingpipmarshall make e help me sell for 50k per copy cos e ne like say e dey get customer well well . Bornfool go be treasurer

@Tonyfx I found this useful.......I look for key levels on the weekly chart and go down to the daily timeframe to search for pinbars or fakey signals. ....You can do same on lower timeframes also (daily and 4hr charts)..

Thank you. Appreciated.

saxy4c:
Copyjoe this is exactly what I do. I'm just a bit more aggressive with my entries because I setup a lot on the 4H.
Keep it simple, it's the straightforward methods that constantly turn out profits in this business. Trading is largely of the mind. Abeg no follow any kingrubbish, that's how wicked certain people can be. Collect peoples 50K when you know nothing and have losing trades back to back. Is that not plain insanity? Well also goes to show us that a lot of people out there just want your money in return for losses in the name of forex training.
There is a treasure trove in what a lot of us do here for nothing, you really need nothing more bro.
Now he has posted a setup in the direction of my bias as well, may the universe help this trade go well abeg

.........I setup a lot on the 4H.
Keep it simple, it's the straightforward methods that constantly turn out profits in this business. Noted sir.

saxy4c:
Ok let's close here at 1794, I know how difficult it can be to hold profitable trades and i don't want anyone to be anxious over the weekend I've got 520pips already on my entries in Gold. Have a beautiful weekend dear people. More trades for us next week AnShaAllah.

Thank you. I took some profits thanks to you.

saxy4c:
Adding another Gold sell 1810

saxy4c:
Adding another Gold sell 1810

My first post.

Saxy4c. Thank you. I appreciate your depth and maturity. I am shadowing you. I am sure there are many more gurus here. To you all I say thank you. I am still a foetus. But with you gurus we can all grow. I am interested only on Gold for now. I seem to understand it a little better than the currency pairs.