₦airaland Forum

Take profit of 155 pips just hit on Chf-Jpy. Congrats to every/any one who took this trade and held on with me. Now waiting on Usd-Cad that is 30 pips from our target of 130 pips. Just for reference and educational purposes, the links to posts where I made the calls on these two trades are [url=http://forum.priceactionlive.com/index.php/topic,7.msg150.html#msg150]here[/url] (CJ) and [url=http://forum.priceactionlive.com/index.php/topic,7.msg147.html#msg147]here[/url] (Ucad) on my forum. I also made the Chf-Jpy call here on NL. You can go through them to see the reasons why I took those trades so that you can replicate them in the near future when the market repeats itself.

We thank God for the many opportunities that the market is presenting price action traders this month. Let's wait on for the next trade. Great and successful trading day to every trader here. Cheers!!

Eur-Usd
The Eur-Usd dollar had an explosive upside move in yesterday's market, gaining over 140 pips to close the day at 1.3260, which is 35 pips above daily resistance of 1.3225.

We can see that this pair has obviously broken above, and has had a nice close above the all important daily[b] horizontal level at 1.3225[/b] below which the market stalled for over 9 trading days. This suggests the possibility of stronger upside moves in the coming days.

I will be watching the support layer between broken resistance (now support) at 1.3225, and the 8 day MA for potential buy signals to rejoin the larger up trend.


See you guys in tomorrow's market. Good night!!

Though I missed the Gu trade entry by just about 5 pips, my Ucd-chf got filled and is just about 7 pips from my 103 pips of TP. When the 4hr trade call I gave on Sunday failed, I said "let's see how the day close" cos I was expecting a nice signal off the daily chart - which I finally got. Spot Silver also just got filled in and is going nicely. Those on the chf-jpy trade that I posted ending of last week should also be 130 pips postive with me on this one.

This brings me a total of over 265 pips for today. Price action never combined with detachment from live trades really makes a happy and successful traders. Watch out for more trades to come. Have a nice day to y'all.

beejaay:
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.

JAkpayen:
@blog icon
I think you should still be patient with any bullish bias on GU considering the fact that the BOE with resume with their bond-buying this week. It is also likely that ECB with cut rates too! I'll suggest you buy GU far below 1.5700

Nice one guys. Noted! Thanks for the inputs. . .

@beejaay, long time, where have you been? Hope all is good?

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!

My Usd-Chf trade just hit SL. Let's see what we have at the end of day.

frenchman2:
@blog icon

thanks for your advise on eurnzd. It's best to just keep it for demo for now.

your usdchf alert, the potential profit is roughly 75-80 pips and not 175pips as on your chart

good call. easy pips for me come monday.

thanks

Thanks for the heads up man. yeah, it is meant to be 75 pips and not 175. . . what was I thinking?

Update on Usd-Chf + Signal for market open
The Usd-Chf pair went up to test the range resistance line and formed a bearish pinbar, signalling the possibility of price to fall down to support (which is the bottom of the range).

Good enough, I earlier advised traders to watch for the very exact event that has occurred on this pair hours beforehand on my price action trading forum (which has free access, by the way) and also here as well, but for some funny reasons the post was erased - no thanks to the spambot. The chart i attached which was removed by the spambot (explaining the current trading condition of the Usd/Chf market) together with the updated chart (showing entry details) is attached below.

At the level the pinbar formed, there was no possibility for a risk - reward potential of 1 : 2 (which I take very seriously), so I am hoping to go short on a retrace back into about 1/4th of the length of the bearish pin. Traders here can set a limit sell order just as I have done and wait on the market to do its job.

Gbp-Usd
The GU pair gave some traders from my price action forum a nice and quick 1 : 2  profit after it hit and rejected the uptrend line + horizontal support, and bounced up for over 50 pips. I also gave a signal to traders to keep tabs on the pair for possible long entries on the 4 and 1hr chart at the said support levels, and thankfully enough it played out fine just as envisaged.

This goes a long way to tell just how effective simple and very effective price action trading can be. This is a call to traders to watch the circled area in the GU chart attached below for further long entries, should they present themselves in the coming trading week. The chart is attached below for your perusal.

Meanwhile, I have posted a weekly outlook plus possible signals for the GU, EU and gold pair on my [url=http://forum.priceactionlive.com/index.php/topic,7.msg154.html#msg154]price action trading forum[/url] that you can use to trade in the coming trading week. You can head over there to read it up if interested. Enjoy your weekend folks!

To your success!!

The Usd-Chf pair is in a perfect ranging market condition. Most traders will know that if the market is not trending, then ranging markets are the next best grounds to make some money, but only the savvy ones will know what to look out for, and how to take advantage of this market type.

Attached below is a 4 hours intra-day chart of the Usd-Chf showing clearly how this market is currently ranging, and the key levels have been marked. What we should be looking out for in this market is bullish price action confirmations on the range support to go long, and/or bearish confirmations to go short at the range resistance.

However, given that this market is dominantly down on the daily chart, I'd rather to go short than long anyway, hence I'd be waiting on a bearish pin formation or a fake-out to occur at the range resistance.

I'd keep watching this pair and alert traders to opportunities here should they show up.

aguiyi:
bro, i meant to say that price may not get tp 1.5770 before reversing to the upside

Sure. I'm not necessarily saying it "will" get there first before heading north. The way I'm looking at it is that if (in the event) it gets there and forms a buy price action signal, it will be a very high probability one worth trading. Get it? Hope trading has been doing you well?

Wow, spam is a pain in the butt!! See the large number of genuine sign-ups that I couldn't approve on time just because of the large number of spam registrations. Please, to all those that signed up to my free price action trading community, you can proceed to log in and access your accounts as I have just approved them.

I'm sorry for the very late approval. It's due to spam. Thanks for the understanding and have a great day ahead!!

@Aguiyi, I didn't quite get you. . .

@Frenchman, that you are right on the money with your comment. I tend to love trading only the daily chart because of  its accuracy and its large profit potential, but when I see a market where the levels are being well respected perfectly on the lower time frame, and it is in line with the direction of the daily TF, I'm all over it.

Yes, I hardly trade the lower time frames (4 and 1hr), perhaps once in a month, but if I see a very nice setup with at least a 1 : 2 risk - reward offering, then I'd happily take it. I heard you complaining about the Eur-Nzd always hitting your SL. Don't you think it's time to back up on it. You have over 15 of "sane" pairs. I've found Eur-Nzd to always defy my analysis 90% of the time and elude me, hence i dropped it. The pair is weird - at least to me.

Good luck to everyone here! Happy NFP!

The GU pair has rallied for 13 days in a stretch, and seems to be stopping to ctach some breath after testing 2 months high/daily resistance at 1.5890. Given that we are currently and obviously in an uptrend, the logical trading action to take is to go long on pullback to 4hr or daily support.

Pulling up the 4hrs chart you can see that very valid uptrend line that has succeeded in rejecting price on all attempt at penetrating it. We should be looking to go long should we have a bullish pinbar form off the up trend line. Giving further confidence to any bullish price action signal that might form there is the fact that the 4hrs support at 1.57700 also lies in the exact same spot at as the trend line. So should a 4 or 1hr candle bounce off this level, rejecting both the trendline and support line, it gives a confluence of 3 factors - which is a requisite for high probability entries.

Should this happen the way I'm envisaging, we should look to buy and take profits at 1.5890 as it is a key resistance level. I'd keep traders updated to opportunities here.

Good Luck!!!

swiftz:
Lol. These ppl are jst kilin us. U get in d mood for sch, they go on strike.
U get in d mood for biz, they cal off strike.
Yeah, i took d trade, tnx.

No mind them. Them be zombies. However, you can try and combine both. You know our style of trading as price action traders gives us the freedom to trade once a day, as we have always been doing. That's how I have been managing over here. Good to know you took the trade. Good luck!

frenchman2:
thanks blog icon

i chickened out of the usd/cad trade. never saw ur au alert.

pulled the trigger on your chf/jpy alert at 83.17. was waiting for it to get to my pivot 83.04, 1 pip short of your pending order

You are welcome dude. Sitting around and watching your chart could lead you to many emotional trading mistakes. Most times when you have your trade all set (with stop loss and take profit) and you have nothing else to trade, it's best to shut down and get out there to get engaged with something else. . . detachment + discipline = a successful trader. Learn to apply the shoot and forget strategy. It has helped me so so much!

As for the AU trade, I didn't post it up here cos I was in a hurry to finish up something else 2 nights ago, that's why I posted only the Ucd-Cad. However, I posted it to my price action trading forum, where I post a couple of analysis and signals by 11pm every night after the New York session. You can always keep tabs on the forum by/around that time (11pm) every night. To you and everyone who is interested, the link is http://forum.priceactionlive.com.

Good to know you have pulled the trigger on the Chf/Jpy. Let's hope it works out fine for us.Cheers!!!

swiftz:
school don start, i go miss fx&u guys 4 sumtym,

Sorry eh! So did you take the Chf-Jpy trade?

Good evening every one. How is the market treating us all? Hope good o. Well my AU trade of 175+ pips just hit TP, and the Usd/Cad is doing just fine. To those who took the Ucad call as I posted here some 2 days back, have some faith in the setup and don't close out. It has gone about half way and should reach our TP in no time . . . I hope so - none can tell !

I have another trade setup, and this time it is on Chf-Jpy. I don't know if much traders here trade this pair. If you aren't following it then you have to take a peek at least once in a while as it gives good signals from time to time. The trade is a buy and is offering a 1:2 of risk to reward should it work out as planned.

The parameter is go long (on limit pending order) @ 83.031 and set a stop loss of 70 pips below entry. Put TP at 155 pips from entry. See chart below for details.

Let's only hope that price retraces and gets us filled before rallying (if it will do so). Normally, I like to take setups like this @ close price, but I don't have the luxury to do so on this one cos of the compromise on a sound risk : reward. If you don't care about that, then I'd advise you go long @ current price 82.25 and set ur SL @ 82.336 and TP @ 84.566.

Goodluck to y'all. Good night!!!

frenchman2:
thanks blog icon

pulled the trigger on that pair since friday

Nice one. Enjoy the ride. Have a great day everyone!

@Swiftz, sure, its a very perfect one. If you look very well into the contents of our premium class you will notice that it has all the elements of a winning trade. It's definitely a high probability entry (not to say it doesn't have chances of failing). Big ups to you for being able to spot this on your own. You're a spectacular student! As a matter of fact, i just updated the contents there with entry details for the Usd-Cad; check again.

@Zeddicus, nice one on your Usd-Cad harvest. From my own end, the pair indeed formed a very valid price action sell signal from last week that saw most of the heavy fall that followed. I'd however like to advice that you apply a little caution to your Nzd-Jpy and Aud-Jpy entries as the bearish move we are currently seeing is more of price correction after a large rally. Goodluck though.

Good night to you all!

I see a good sell signal on Usd-Cad. Traders can chose to go short based on this good sell confirmation that formed off the daily chart at the close of the New York session. Use the parameters on the attached chart as guidelines. This is a trade with a risk - reward of 1 : 3.

Take at your own risk as I wont be held responsible for any losses incurred by taking this trade. Just FYI, I'm also taking this on my live account. Goodluck and loose responsibly!!

Usd-Jpy
The UJ pair fell heavily after the formation of that 25/1 long tailed pinbar, just as I tipped traders to in my nightly forex analysis. Refer to my analysis of 25th Jan for reference.

Although I didn't catch this large move, because of the failure of a retrace to occur to get me filled on my limit order, a couple of members on the forum will be smiling with a 110 pips of gain in their account, just as the trade has hit proposed take profit just yesterday.

This market is obviously range-bound, and if you have been following my teachings for a while you will know just what to look out for in this market. In coming week's market, we should be on the look out for the formation of obvious bullish pinbars, or false break pins off the floor of the range to consider long positions.

On the flip side, if the range is broken, we will be on alert for the formation of sell signals on pullback to broken support. I will keep traders updated on opportunities here should the occur in the course of the new trading week.

Eur-Jpy
The EJ pair formed a bullish pinbar today off a very confluent zone which is tipping me towards a buy entry at market open.

This bullish pinbar that I speak of has a lot of factors going for it, the first being that the pinbar showed a false break of the daily support line at 100.90. Looking at this occurrence from the psychological point of view, it implies that the bears in the market extensively tried breaking supports at 100.90 but threw in the towel as the bullish pressure was higher at the other end of the tug.

The second supportive factor is the sharp and obvious retest of the broken down-trend line. If you look at the areas marked in green, you will see how valid and nicely that line has held prices in the past. A break and retest (with the formation of a bullish pinbar) off that line is a very significant occurrence.

Trading Action
Go Long @ market open price (if there is no gap) and set a stop loss of 75 pips below entry point. 1st TP is 150 pips above entry.
2nd TP is 250 pips above.

The way we will trade this is to take partial profit at first TP and move our SL to break-even (entry price), then target the final TP. Should this work out, it will yield a 1 : 4.5 risk - reward ratio.

Please take not that if you take this trade with me, you are absolutely doing so at your own risk. Manage your risk on this as it can easily go the other way. Good luck!

FXKing2012:
Now I see how shallow many so called traders could be, no wonder many struggle for years. Anyways, I joined this forum due to popular demand by my students but I'm highly disappointed at the level of depth being displayed here. As a result I have decided to retire from this thread. It's unfortunate it ended even before it started but I just cant operate in certain environments, I've gone too far to be dragged back by the likes of Ogboraph who has no idea wat forex trading really is but thinks he does.

I only wanted to help the newbies develop the sharpness needed to trade profitably.

WELL, IT'S YOUR LOSS!

What a great movie. I hate jumping into issues with people on this thread, or commenting on issues like this, but I'm seriously pissed off by the attitude of our "forex savior" called FXKing or what so ever. . .

I'm not here to drag issues with you man, but I've noticed that you've always stressed that it's your 'students' that pleaded (on bended knees, perhaps) that you join this forex thread. Just out of curiosity, please mention the names of these loyal students of yours. Can it possibly Honeric1, naijababe, aguiyi   . . . just who? Perhaps I'd like to join your class, as you have clearly stated that we all follow you or fail at forex.

My man, we are all matured individuals on this thread. You can't just sit hide behind the anonymity of your keyboard and be spewing thrash on all the pages of this thread . . . come on, we have just 100 pages per season and you have already exhausted 5 or so. Free advice: do your self the favor by going to sign up for a humility class with your huge forex profits (that the rest of us on this thread obviously don't have) as it will add greatly to your personality resume.

Don't bother hauling abusive words at me cos I am too damn busy to stoop to your low standards to power my PC just to reply you. You are making me go out of my comfort zone by replying you, but I just have to cos of ur disgusting display of pride. Go get a life bro!!!!

Please no one should waste any more time replying "our savior". Let's get down to serious issues here. Happy weekend @all!!!

PS: you said something about signing off this thread, if my memory does not have a "shallow depth" . . . please do so with immediate effect . . . and don't forget your ghost students behind as you shut the door behind you.

@Frenchman and Concept, you are both welcome brothers.

@Whirlweend yes, just as you have pointed out, there could be more upside room for the pair, but what you won't want to do is take a buy into that key resistance just above (where my TP was set).

The conservative and safest way to reap the remaining northward move from this pair is to wait for a sustained break above resistance, then go long on a retest of the broken level - if it happens that way, that is.

Nice harvest on the GN trade there. Your patience is one of a kind . Have a great time with the market!!!!

TP of 160 pips just hit on the Nzd-Usd trade I posted. The Nzd-Jpy still waxing stronger up north in our direction. Detachment and patience are the golden keys to the lock of this biz called FX.

Have a great day traders!!!

Silver (Xag-Usd)
The spot silver pair briefly rose up to test resistance levels at 30.63 before shading a total of about 60 pips to close the day at 30.05, leaving behind a bearish pinbar - which is actually a component of a fake-out setup in this case.

The three setups circled with a red ring highlights a fakeout setup that shows rejection of the the daily horizontal level through 30.63, amidst other factors of confluence.

Though I would have loved the fakeout setup to close with a bearish pinbar, but there are several other factors of confluence (like I stated in the previous paragraph) that are giving me a good level of confidence that this setup is very valid and likely to move in the southward direction, despite the natire of the close of today's daily price bar.

The first factor of confluence is the fact that the bearish pinabar formed off the 50 dynamic resistance zone. if you are a premium students of mine on this forum, you will know what importance that is. The rejection right there was a pin point one, and the validity of this resistance zone is depicted by the ability of the MA to hold prices on all attemot of penetrating it in the past - see the chart attached below for details!

The second factor of confluence is the fact that the bearish pinbar also formed off that very valid downtrend line on the chart. The validity of the downtrend line is affirmed by the fact that all 4 previous attempts to break through the line was repelled. These areas are marked by the green circles on the attached chart below for your reference.

The pair is clearly in a downtrend, and the formation of that fake-out price action strategy at a key level of resistance (at 30.63) is a good indication that the pair is about to move back in the dominant trend - which is downward.

As nothing is guaranteed in forex, I'm not assuring you that this pair will move in my speculated direction, but I've done the best a forex trader can (and will) do by analysing every detail on the chart and reaching a decision based off that. It's left for the market to make its decision.

Trading Action
Set a sell limit pending order to go short at 30.14
SL is meant to be 50 pips above entry @ 30.65
TP is 140 pips below @ 28.73

Please be sure to apply sound money management decisions on this trade as it might possibly go the other way. Safe trading and take care. Lose responsibly!!!

frenchman2:
blog icon

thanks for the alert.

after analysing the the pairs, i decided to equally join you in the nz/jpy trade at 61.34. i don't think it's too late.

your tp is 160pips. i can still catch 100pips.

it's likely to even exceed that target

thanks once again.

Though you will be losing out on a proper risk to reward ratio on this one, but sure, you can hustle off the remaining 100 pips from the remaining move, but ensure to properly hide your stop loss so that it doesn't stop you out on the slightest retrace.

The pair will likely take out the restistance (where my TP is) as you pointed out, but not until it hits there and retraces a bit. I generally avoiding trading break outs, but rather patiently wait for a retest of broken levels.

Good luck to us on this one!

aguiyi:
hahah, the fx God returns to earth, welcome bro. were is naijababe, odiaero, jazes,pip pim.p and tonjoan

Thanks man. . . but I wan yarn say I no be fx God neither god o, before thunder go blow !! I just dey hustle like the rest of the brothers . Thanks once again.

@Frenchman and Concept, thanks!

LaconicINC:
pls o,make una come back to this thread o,d storm is over now,odiaero,blog icon,naijababe,forexmart, and everyone who has been away, i miss your presence

Concept:
No more enthusiasm. Will this be the end of Forex Trade Alert! This season dragged so much especially in the last periods (@97) no much comment & even the initiator has few contribution these days which indicates that interest has dropped. Agreed. Can someone pls share his/her experience why this thread bored now. Where are the likes of Blog Icon, jamace, jaybee, forexmart, odiaero, naijababe her humble self, tonjoan, mesh pips, pippimps, as I typed now I cannot remember all the good guys; reasonable, logical & honest contributions that is all you hear from them. The spirit that started this thread has left, that is just the truth. I wish everybody good luck. For me this has been an eye opener, I just discovered when you see how good others are, if you are the determined type that gives you the impetus needed to propel yourself to where you envisaged.
This short time Forex Trade Alert came on board I have gained. Naijababe thank you for bringing up this thread; meshpips,aguiyi,tonjoan,odiaero,honeric,jaybee & some good friends have made here may the pips continue to be with u. I am also signing off. I am not getting what I wanted here again.

I'm back. Sorry for my long absence. I went on break from the first week of December cos the market began to fire a lot of false signals. By the way, I had exams and was also busy with some online as well as offline businesses that I had to finish up. I have been following the thread though.

@Concept, what most of the guys have replied based on your post is true. The market is still just opening for some, and it will take a little while before 'volatility' returns to this thread. I have seen this present state of dullness on other FTA threads that got me thinking "yes this is the end of this thread", only for dry bones to rise again 

Point I'm making is hang on a bit cos singing out won't help either. As for me, I'm fully back, and will continue posting regularly here. The first trade I have taken for the week is a long entry on Nzd-Usd and Nzd-Jpy with take profits at 0.8061 and 62.27. I entered them yesterday, and it could be quite late to join in now. My entry charts are as posted below.

Thanks to everyone that wrote me via email, facebook and reached me by fone to know how I was doing. Much love. . . damn, I've missed here! It's good to be back.

Wishing everyone a pipful and green trading in 2012. To everyone, lose responsibly this year!!! Safe!!!

A London based pastor has found himself treading in deep waters with her majesty’s law after getting 3 members of his church pregnant at the same time.

Pastor Kwaku Antwi-kusi Junior 31, who has already fathered 2 children with a different church member is thought to have had intimate relations with almost every female members of his church and now he is reaping what he sowed.

Pastor Kwaku Antwi-kusi Junior released an album “Bless The Lord” in 2009 and decided that this was a “call from God” to do his work, he established a church and called it Family Praise Ministries. He might have taken the term “family” too literally. Yes a church is a place for all of God’s children and we are one big family but his actions are far from appropriate.

More news reaching us makes this an even more sticky situation. It turns out Pastor Kwaku is married to another church member. This was apparently kept secret from the other members of the congregation. We can only speculate what his intentions were.

The church has since been closed down. Pastor Kwaku has since absconded leaving all these unanswered questions and pregnant women behind.

This calls to question the integrity of many pastors and so called men of God. Just recently we heard the comment Duncan Williams made about his wealth. If this is the lives they live how do they lead the congregation.
Source: http://www.ghanacrunch.com/shocker-ghanian-pastor-impregnates-3-of-his-church-me

Na wah oh! I really get thinking if some pastors are really God sent or close allies of the devil. . . That is left to God sha.

Thank God it wasn't a Nigerian pastor this time around if not we no go hear word . . . what is that infamous Naija beefing Ghana song again . . . "Thank God we are not a Nigerians Ghanaians!"

In all you do, try as much as possible to be different from the crowd

If dem born you well go yarn these guys wetin dey ur church mind