Hmmm. MMBM tonight. Still on mobile, though.


Frawzey

Here is the chart on EURAUD 1HR TF, a reversal imminent but one must be really careful as data/news easily destabilizes analysis these days. Sell below 1.4883 (minor support).

Not trading today but here is the chart for those interested.


Frawzey

@NB, ur bias dey there on EA. Been eyein' tha darn pair since yesterday. Same bias. Will post chart when after weekend frawzey.


Frawzey.

Happy birthday to Alionyinye and Fxisreal. Shine on fellas.


Frawzey

ayox2003: AUDUSD: Sold at 08988 SL: -40pips

UDSJPY: Buy stop at 99.92. SL: -35pips

If it pans out, will be holdin' these positions for a long time.

Welcome to August.


Frawzey

Lost this trade.

I wanna share what I wrote in my trade journal just now: When everyone seem right on a trade, they are more likely to be very wrong.

This video is one of TEDtalks that centers on gratitude; simple but meaningful.

Tania Luna: How a penny made me feel like a millionaire.


https://www.youtube.com/watch?v=WTFi99e4RXU

Have a great weekend.


Frawzey

meshpips:

Do you know any trader by the name
Fowope Mike?

Nope.

@Naijababe, July 15, 4h chart, a trendline held till yestday when it was broken. Any long position should be closed by now signalling a reversal.


Frawzey

AUDUSD: Sold at 08988 SL: -40pips

UDSJPY: Buy stop at 99.92. SL: -35pips

If it pans out, will be holdin' these positions for a long time.

Welcome to August.


Frawzey

naijababe: I want to ask a question?!

Let's discuss exit strategies! Do you have a method for exiting a position, do u wait till u get a revesal signal or do u have predefined exit when u open a position?

I have since realised that the exit point is far more important than the entry point, in fact u can afford a poor entry point but poor exit can lead to a bunch of not so desirable outcomes!

If one aint a full time trader TP is necessary as reversals could happen anytime but once one aint always faraway from the charts, one could take two positions namely 1) Trending position 2) Trading position.

Trending position is the position one would leave for as long as 3-24months on a trending pair while trading position lasts max 2weeks.

For instance those who bought USDJPY last September are still holding their positions which is about 2,400 pips up now and those who sold Gold about the same time are about 5,000 pips now. So it really depends on the person's time schedule but for me the best point to exit is where an intermediate trendline has been broken and you smell a reversal.

All-in-all, at all at all na him bad.

erniok: Ayo,Abeg help me check.I bought [b]Nzdchf .9390 [/b]cos it has hit support at .9355,formed bullish divergence on 4h and formed bullish shark on 1,4h and daily.help me confirm d harmonics.

I cant find this price on the chart. Anyways, I saw a shark pattern on USDCHF but I believe its gonna touch the 113 fib before any reversal at all.


Frawzey

Lol. Even ladies here be defending Messi saying they should leave him alone while they would be the first to castigate an 'unmarried' Iyanya. Messi is having an extra marital affair while Iyanya dumped his girlfriend.

kulyie: He is just being typically male.it is what any man having a working penis will do

Would you have said this if your husband was caught in the act? Na wa for una


Frawzey

erniok:
no mind the market. usd lost ground on thursday last week cos of this same bond issue. market talk was that it has been priced in and as such, it would appreciate. on the sidelines till the dust clears. want to long UChf and short EG.

Nice call, bat pattern on the daily TF but a bearish candle at the 88.6 would confirm the down trend. Person fit use 4h candle to confirm sha.


Frawzey

Oil (all TF) breached its downward channel but encountered a minor resistance at 105.26

A break above the resistance would be a good buy.


Frawzey

Dry FOMC, rates unchanged, yet scared of inflation should QE continue.

WASHINGTON (MarketWatch) -- The Federal Reserve on Wednesday slightly downgraded its economic outlook but gave no hint about its plans for its $85 billion-a-month asset purchase program. The statement released after a meeting of the Fed's policy making committee said that the economy was expanding at a "modest" pace, a change from the "moderate" pace seen in June. The Fed also noted that the rise in mortgage rates was a concern. It also said that persistently low inflation was a risk. There was only one dissent, by Kansas City Fed President Esther George.

http://www.marketwatch.com/story/fed-slightly-downgrades-outlook-gives-no-qe-hint-2013-07-31?mod=wsj_share_tweet

Even trading NFP will be very risky with this sorta news, no forward guidance.


Frawzey

onila: As everywhere in the world, there's a strong inequality between rich and poor in Kenya. Kibera is the largest slum in Africa located in Nairobi with a population of 1 million people.

The last time I was in Kenya, I lodged in a hotel close to the presidential villa. You wont believe there's a slum just behind the hotel. Just like having a slum behind Parkview.


Frawzey

elewedu: madam no mind me jare. this forex thing hard pass mathematical methods, i think say i go just understand the thing sharp sharp and start to withdraw evryweek, but as the tin dey go , i no know when i go fit withdraw, my account balance just they do like stochastic oscilator. E so fun me kin to bere ki ni yin nw. Thank God for salary, i for don kolo.

Bro, lets assume you already have a good trading methodology.

Most people started with high hopes and they got frustrated out of the game. Atleast, u still dey trade and ur money never kpafuka. Here are my own tips for trading the market.

1) Know what u want from FX: Are you trading because you wanna be rich? Are u trading because you love trading? Are you trading because you wanna have multiple streams of income? You have to figure out why you are really in this sh't. You can do this by meditation. For me, I'm trading because I love trading and I wanna make a good amount of money off my charts each time I place a trade.

2) Work on your mindset: Personally, whenever I boot my PC to trade, I silently tell myself that the market is ALWAYS right. Market is the teacher while I'm one of her numerous students. So when I trade, I just make sure I align with what the market says at the moment or what I believe the market would say. Mind you, the market trends just 20% of the time, the other 80% is either a range or wuru-wuru pattern. So it means you get the best trading opportunity virtually once in a week. So no let anything border you when u loose. Na because teacher they teach you some lessons.

3) Risk: Here are some questions one must answer.
a)Is there any real trading opportunity in the market today? If yes, how much can I afford to loose? The amount you can afford to lose will be your stoploss. And it must not be an amount that would make you cry. Haba!
HINT: After you have decided on how much you wanna lose, then tune your lot-size to fit your stop-loss. For instance, some trades require a little much more stops, instead of using your 'normal-traditional' stops, you could slash it, at last na the same amount e go comot, na 'breathing-space' different.

b) Where is my take profit? Different answers: TP must be before a strong resistance/support, TP must be atleast the amount you have risked(if you risked 50kobo as SL, then TP must be atleast 51kobo or more),

4)Entry point: Best is to use a pending order but as I normally trade at night, which is the worst time to trade, I dey enter market so that I go sleep quick Best time is US and European session. No matter the temptation, avoid entering when there is a major news only if you are sure of yourself. I used to trade news but had to stop so that I wont be used to it.

Always research and read articles, control your emotions and dont over-trade. As a matter of fact, you might end up reading 300 articles in a month and only one would add to your trading 'arsenal' - keep reading, dont stop. Finally, nothing is wrong with you. Teacher market is teaching us all how to trade and till we die, we will forever remain its student.


Frawzey

Imagine Aussie was eased and no-one talked about it here.

Aim small, miss small. Lost EJ pelu irorun.

Optimisticgondy, will reply ur mail when I'm home.


frawzey

Now, 50% of Africans still live in villages/rural areas. Honestly, its on the high side. We need more industries. Mass urbanisation is much needed than ever before, atleast for the infrastructure it will bring.


frawzey

I guess we are in the dry season that precedes the NFP.

Anyways, still holding EURJPY.


Frawzey

EURJPY: Sold at 129.96 SL: 130.26 1st TP: 129.36

Already posted the chart yesterday.

Frawzey

honeric01:

This is more like a butterfly

98.75 may likely be the turning point.


Hmmm, you do not want to be left behind, but 1.34 is also opened.

My brother, remember that when USDJPY is very bullish, most times, EURUSD becomes bearish. So if USDJPY is a bullish butterfly, then EURUSD is a bearish butterfly.

By the way, we dont get to see the Andrews alert anymore, kilode?


Frawzey

honeric01:

To me, this doesn't look like a butterfly pattern though, like you're trying to make it look like one. 1.334x and 1.336x is looking likely though.

My brother, I have learnt that one will make it look like one noni because waiting for it to fulfil all righteous would turn brotherman to a waiting Joe.


Frawzey

martog: This week my attention is on UJ for obvious reason; based on the evidence on the charts and the father of all news(NON-FARM PAYROLL). Please kindly scrutinize the charts and make your comments/suggestion. Am still a learner in fibonacci.My gurus, make una correct me if i dey wrong ooo...

Lol. Baba, ur fib was right but I just have this golden rule: ANY FIB POINT/RETRACEMENT CAN ACT AS A SUPPORT OR RESISTANCE IN A DOWNTREND AND UPTREND RESPECTIVELY.

Once price breaks a fib, then the it most likely touches the next fib only.

In the USDJPY 4H chart I posted below, see how price reacts at B, C, D.

At B, price couldnt break the 78.6 fib so it went up to C.

At C, price couldnt break the 23.6 resistance, so it went down to 1.414 at D.

Now at D, price currently finds support at 141.4 fib so it might signal a reversal and price might go up. N

Also notice a bullish candle (piercing candlestick) at D.

Finally, notice the free flow of Sell-off from C to D because the price broke ALL the fib retracement that might act as support.

The koko is that one should just know where to draw the fib. I drew this from X to A. A small tutorial on Harmonic Patterns would be give you more insight into the power of fib.

To be double sure I added Stochastic to confirm the reversal and it serving the drinks for a buy party.


Frawzey

erniok:
Glad u noticed ma. Bearish crab on it 4h and bearish butterfly on 1h and my indicators are all screaming for a correction. I see it and nu falling flat next week.sold nu at 0.8092 for 100 pips.

Yeah. But cant find any pattern from 1h TF. I was able to see a butterfly on the 4H/6H chart. I'm still dicey as to whether it would sell at 1.414 fib. But will be watching closely because stochastic says its being overbought.


Frawzey

Folks, how was church?

I sold EURJPY on Friday for 83pips based on the alert I posted here because of a bat pattern I saw. Revisiting the charts, who knows, the sell-off might continue once 61.8 support is broken. Notice how the 61.8 holds strong!


Frawzey

endfx1: USDCAD looks good to sell off.friday close formed a bearish inside pin bar,broke my inner up trendline and retested the trendline before closing as a pin bar.

I will look to SHORT with a sell stop order 5pips below the low of Friday's mother bar at 1.0248 SL at 10pips above its high. TP will be at the outer trendline which firmly concides with a strong support at 1.0135

Hmmn cool. Thanks for the chart. Had to use MT4.

Here is what I'm seeing: once 1.02535, the support line, gets broken, then a massive sell-off would occur and if not, we should start a buy party.


Frawzey

Africans all over the world have a certain problem that is called SELFISHNESS. Oh yeah, we love ourselves but we cannot make sacrifices for folks outside our friends and family. The habit of selfless service is lacking in our membranes and thats why we are far behind the world.

Dan Black in the story I posted above is just 25. It took him 4years to raise £20,000 for his own surgery but when he heard about Brecon, who also was in need of money for a surgery, he gave all the money to Brecon because he believes Brecon stands a better chance than him.

So, whats the lesson from this?

Living on purpose, touching lives and making the world a better place will never happen without SACRIFICE and the habit of SELFLESSNESS. Why is Mandela a star today? Take a time out and read/google about Madre Antonia, Maximilian Kolbe, Oseola McCarthy - people who made a difference in their own little way.

This thread might just be an opportunity for us to touch someones life. We really need to shed the whats-in-for-me attitude.

To cut the story short, if Meshpips used this thread to 'advertise' himself and curry favour and then creates another thread charging some perks for alert, I think its just unheard of. Its just like being a pastor in a popular church only to create your own new church from crowd of the other church. If you need money, make money off your charts not from newbies who need to be held by the hand.

I wept silently the day Learner1 posted that he funded his account with 2,000naira. I mean, people need help in this country, youth unemployment is at 80%. What we should be thinking about is how to bring this down, how to raise people up, how to help ourselves even if it requires some sacrifice.

I hope I've sent my message gracefully.


Frawzey

- Paralysed man raises £20,000 for treatment to help him walk...then gives it all away to help a disabled child take HIS first steps

Four years ago, Dan Black was paralysed in a cycling accident. Ever since, he has been raising money for pioneering stem cell treatment which could one day help him walk again.
But now, after collecting £20,000, the 25-year-old has given it all away – so a little boy can learn to walk instead.
Mr Black abandoned his own dream after hearing about five-year-old Brecon Vaughan, who lives near him just outside Chepstow, in South Wales.

Brecon was born with rare spastic diplegia cerebral palsy which causes stiffness in his legs, poor balance and coordination.
He has to use a walking frame to get around, and his family are desperately trying to raise £60,000 for an operation in America to help him walk unaided for the first time.

Mr Black, who is wheelchair-bound, said he made the extraordinary gesture because Brecon had a better chance of walking than he does.
‘I know for me that things aren’t going to get better any time soon,’ he said. ‘I just wanted to do something that could help someone whose life could get better'.
‘Brecon can definitely walk if he has the surgery. I wouldn’t wish being paralysed on anyone, so if I can help someone walk, I will.'

http://www.dailymail.co.uk/health/article-2360154/Paralysed-man-raises-20-000-treatment-help-walk--gives-away-help-disabled-child-steps.html

Frawzey

Eziachi, I had a minor dislocation about two weeks ago. The excruciating pain I went through was hell. I empathize with you, Ez.

My barn having burned to the ground, I can now see the moon — Japanese poet.

See the moon, Ez!


Frawzey

EURJPY: Sold at 13028, TP 13140, SL 13068


Frawzey

Godson201333:


They must have boarded a flight with an airline called "Air Maroc" but they do not fly to Nigeria.Yeah you can book them on Lufthansa or Klm..

Thanks. Sorted out.


Frawzey

USDJPY: Buy-stop above the resistance at 99.64 first TP will be 40+pips. Target will be 100+ i.e 100.67


Frawzey

My parents are heading to Germany this weekend. Called my Old man last night only for him to tell me that they'd have a stop-over at Casablanca. I was shocked. What does Berlin have to do with Morocco? (Not sure of the airline but I'm guessing that its Air Morocco). Now I wanna know if I could book them on Lufthansa? I know they'd would get to Frankfurt, from which they'd find their way.
Thanks.


Frawzey

Theyjih: guess its gon be another round of $FXY (yen)smackdown/ Bashing thanks to Abenomics upper house victory! ... to a good week hunting!!

Just saw the 'Abecalpyse' on Bloomberg. Yen's smackdown is gonna be massive.


Frawzey