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Gpd-Usd
The Gpb-Usd pair went down to test very significant support at 1.5770 and ended the day on very bullish note, forming a bullish pinbar off support.

If you read my commentary from the weekend, you will be aware of the fact that I advised that we be on the lookout for formation of bullish pinbars of the very support that we had the GU reject today. The support zone is a very confluent one to seek for buy entries, and the formation of a well defined pinbar off there is a clear signal for traders to go long this pair.

If you take a look at history, you will notice that the horizontal line through 1.5770 has successfully held price very strongly on all attempt at it, meaning that it is a key support level. Supporting this trade also is the fact that this pair has been very bullish in the weeks past and has been trading above the 8MA.

Since this pinbar is a large one, and we can't possibly have a minimum of a 1:2 risk to reward potential if we go long @ market close price, we will be looking to go long on a buy limit pending order with a stop loss of 53 pips and TP of 105 pips. Should a retrace not occur to get our order filled, we will simply let it go, or look for obvious entry points on the 4 and 1 hour time frames.

Trading action
Go long with a buy limit pending order around 1.5779 with a stop loss of 53 pips and TP of 105 pips @ 1.5883

Manage your risk well and keep off the trade once (if) it gets executed. Goodnight!

with the current market setup, i dont see the PA getting to that 1.5779 just yet, we might see a run up first as am not seeing the momentum needed to go to that price point.the parabola forming on the most MA crosses which is about to turn around with a single bull candle on the hourly and the comfort of PA above CCI and RSI turning upward is not gonna help the dip buying u are expecting.am also expecting PA around that point cos its the 61.8fib of the current run off. but this is forex and anything is possible. if the current hourly candle should close bull then am buying at the market price else we might see the PA going toward 50fib and 61.8fib but the momentum is not just showing yet, even the volumes are not showing it.

why do i always get banned each time i tried posting something important i was trying to post info on FINRA exams as per naijababe reply post.this is why i get frustrated on this site

series3 is for a certified hedge fund managers called CTA(commodity trading advisor) while series34 is for forex money managers. though we dont realy need it here in nigeria but having something like this certified by the west will give traders more credibility.google it and find something about it

just took a buy on usdchf at the rejection of 61.8fib of the last move and a short on eurusd at the 61.8fib of the last down move.lets see how it plays out

i have been here ooo, mostly immersed in my trading while reading and preparing for some exams.av u ever tried or look at series3 or series34 exam by FINRA?

hello my fellow traders. how has trading been?? hope its being all good and rewarding.@Concept,Naijababe,Odiaero,Honeric,Aguiyi,Blog Icon i hail all ya.may the pips be with us all

happy new year pals. 2012 is definitely gonna be a wonderful year for us all making gazillions of pips.

we got late opening of the market today just as expected. closed all my hedging trades on my running trades as at friday night (i dont like to feel the effect of gap be it for or against me. i do this every friday if i have a running trade as at when the market is about to close and adjust accordingly when the market opens). i have my short on EU,EJ and GU running and my long on USDCHF yet to hit my stoploss.
@Concept, Odiaero dont mind the guy, na attention seeker, we shouldnt give him what he is craving for

kenayi:
Hey guys if you don't mind, the information on the blog is strictly for currency traders please. If you do trade but can't relate to that chart setup, i advise you ask for a complete refund from your trainer because he/she didn't teach you any stuff mates.

look who is talking.u must be one piece of joke. i laugh in swahili.

odiaero:
^^ What kind of confusion is this, we all know EU is set to move, but which direction?

up it goes!!! wait sori its down all the way!!!! sori emmmm i think its updown or downup

where is everybody? xmas don start be that?

ojuejo:
my brother that is where we get it wrong, why will you go to a site like forex peace army to check the ratings of brokers when we actually have regulatory bodies such as cftc and NFA you can easily check ratings there and do you think they will ever blacklist any of their paying customers?(advert) i will tell you 100% no (talking from experience) no pain aim at anybody i will tell you instead of forex peace army or forex bastard i will rather go to cftc

bros in as much as i dont agree with most of what u said about PA, am still of the believe that traders should not look up solely to rating site for ingenuity and efficiency of a broker but rather use them as a secondary instrument for confirmation. if i need to research a broker i will definitely check their standing from the regulatory bodies (cfct,finra,fsa etc). from these bodies i can surely know when the broker came into business, its asset, its shareholders and their history, how many reports credited against it, how many filling it has been fined, in all its total situation report (all this i can never get it on rating site).
@naijababe am really touched at ur experience. if ur broker is in a country you can fly to why waiting. this is one of the reason why i work with uk broker incase anything like this happen, before jack robinson am right there in their office.uk is much more easier to go for we nigerians than other countries. if ur broker is in uk please go and sort things out urself (get a copy of FSA or cftc rules/constitution whichever body is regulating the broker and digest the part that relate to ur issue.)

namdo:
the room is like a GIS room or an aero control center, with maps and drawings as seen on two of your screens. do you work in such a place?

u need to set up ur trading room go to this site and get what ever u want with the prices
http://www.multi-monitors.com/Default.asp
http://www.ergotron.com/Products/tabid/65/PRDID/196/language/en-US/Default.aspx
http://www.ergotron.com/Products/tabid/65/PRDID/196/language/en-US/Default.aspx

good traders need to have their trading room built. trading with a single computer can be disaster sometimes.hope u all find it useful

hope we are all pippin. not so cordinated movement in the market, losses here small profits there, all in all small loss overall (about 70pips loss). hope u guys are protected@odiaero are we there yet??

just took a buy on EJ, EU and short USDCHF all with market determine stoploss. the three pairs have their price rejected at 55EMA plus 50%fib coincidence with 55EMA on EU and EJ. lets see how they all play out

odiaero:
Guys make una sell GU make i 4 buy na

bro abeg sell that pair i cant buy there, its too high i dey count on u oo.

Zeddicus:
Wey our metal traders nah? Abeg i need an answer to the above. Thanks.

a standard pricing model in the financial market is to two decimal for some instrument (e.g EJ, GJ,Gold, major stock) and four for some other instruments(EU,GU). for your question 1630.70+200pips=1632.70. gold uses a standard pricing and currently no micro pip is added to it by most brokers

Concept:
Are u saying we might reach 1.33 @EU?

the truth is i dont av idea where the price is going but wherever it is i will follow it. thats my bad side, i dont tend to look for where the price is going to avoid being bias to a particular side, i rather follow it to wherever it goes (if it goes up i follow and when it change i change)

beejaay:
just took a buy on EU, EJ and short USDCHF with 50pips stop each. the god of forex should follow me

lets ride it on 200EMA breached

frenchman2:
Just placed a sell order on eur/nzd (spread on this pair with my broker is a whooping 20 pips)
entry : 1.6978
target 1.6360
on monthly chart, noticed a pinocchio nose, popularly called pinbar. (see chart below)
showing price rejection of 1.8024
equally, trendline broken on the daily chart
though i'm entering this trade quite late. did not notice the pinbar when it formed on the daily chart.

AUD/CAD
entry 1.0406
target 1.0500
noticed a flag pattern on the daily. price just broke of the flag. sorry no chart to upload.

december hasn't been a good month for me. it has been loss galore. Hope i get it right this time.

PRICE IS KING. FOLLOW IT WHEREVER IT GOES.

Merry Xmas

good morning bros. just a little heads up. how can you be triggerring a trade based on a monthly chart and also a bit late as u rightly noted when i believe u are a speculator like myself? monthly chart is for hedgers(dangote,mtn,glo,p&G,shell and co) and not people like us with mentality of making a living via the market. yes monthly chart can give us heads up but definitely not advisable to take a trade base on it.

Concept:
Sure but do not relax with it. They are still going to buy from below during Asia session. @ b e e j a y Selling time for me 7.11pm GMT+1

ok bro. ur analysis is king to u and to me is my own. however i will advise not to make trade base on a fixed time but rather based on situation. for me ooooo i mean in both long and short at the moment

just took a buy on EU, EJ and short USDCHF with 50pips stop each. the god of forex should follow me

Concept:
Yes oh! that would have erased all I have laboured for today. I will look for next resistance to short.

the truth is pric is currently in the middle of no where on EU, price is between 55EMA and 200EMA. any short that have not been triggered at the 200EMA rejection should wait till after 55EMA is breached and confirmed else the trader should be ready to av a wide stoploss.if any trade is going to be generated between this EMA, its gonna be long.
just my own view

Concept:
I thank baba God I wasn't expecting that SL saved me.

yes bro its always good to have it at the corner no matter how sure we can be.uncertainty=life=fore.x biz

Concept:
@ b e e j a y Where u dey? U don chop enough for the year, when u wan throw the parry inform us oh!

bros am here oo just trying to be gentle. been busy with off chart runs.
took some hit on usdchf -50pips though made it back on gu long and gj long also. just took short on EU(30 pips stop loss) and EJ (locked at BE+1) at the rejection of 200EMA.

the market don dull big time!! the thread sef don dull!!!!!

beejaay:
exit EURJPY at -3pips to enter at a more relaxed price.

closed my audusd short with -5pips to re-enter at a better price. closed EU too at -3pips waiting to re-enter a better and more relaxed price

beejaay:
this thing is getting somehow oooo!!!!!!!but short all the way for eu,ej,ej.audusd and up all the way for usdchf

exit EURJPY at -3pips to enter at a more relaxed price.

this thing is getting somehow oooo!!!!!!!but short all the way for eu,ej,ej.audusd and up all the way for usdchf

Concept:
EU ~ Long like I said last week 1.32 is attainable. Good morning all. May the pips be with us all.

we are on different side bro. anything can happen its fore.x
watching what will happen at 55EMA(if the current candle should close below it, i will add to the trade), 61.8%fib retracement( will add to it if it get rejected). with all the plus at my first stoploss.

odiaero:
GU short, i hope u are scalping that, i do go long instead

u are a wizard bro. how u take know?? just took a quick scalp off it and am out already with 10pips.others are based on 1hr tf. thats why we always say dont follow someones else trading calls cos u never know whats in their mind

Gbotun:
@everybody,doing a great job here. Am an undergraduate in one of d naija universities and in need of a source of income and was told to venture into forex.Now my problem is getting a good mentor who will take me by hand and teach me everything teachable on how to become a good trader within 3mnths after my trainin.

guy u crack me up. u want to learn forex and become a good trader in three month, couple with ur mindset. how many years are u gonna spend in school to get ur degreebros match apple to apple and tell urself the gospel truth (face ur study for now and come back when u graduate though u can start with some reading now without the mindset of making money)