₦airaland Forum

lol @Naijababe.

Just as i pointed out this morning, the sell pressure has begin to come on the EU and GU pair. The GU has already done over 50 pips in the last trading hour or so and the EU is picking up - it is fighting a stall pattern now.

Attached below is a chart that shows an inside bar (stall pattern in this case).  The way that this pattern is traded is to sell (on a stop order) at the break of the low of the mother candle. This is very good as we would get filled in our position by the stronger momentum - which seems to be south in this case. The SL is over 90pips with a potential return of 180 pips which gives a good Risk:Reward of 1:2.

You might want to look into my chart and compare it with yours and know how to set-off.

This is not a suggestion to anyone to trade. This is just my own view of the market, and if you choose to follow, you do so at your own risk.

Good luck.

Sell Gbp-Jpy at 129.80 with SL at 130.231 and TP at 128.876. Would give full analysis in a bit.

No matter how good going EU and GU seems to be to you, avoid a buy on those pairs - at least not a long term one. Something tells me they are only going up to form a very good sell signal on the daily chart. Just my opinion - the market can go its own way. Safe trading.

The Eur-Jpy is a very good pair to watch for good shorting opportunities in tomorrow's market (i.e Tuesday). If anyone shows interest (and there is any good signal forming) I would be glad to oblige. Good night y'all.

honeric01:
I caught GU from 1.6118, caught EU at 1.4190, caught UC at 0.8515 and GJ at 129.20

Now, lets see where they head, Trailing stop mode activated!!!

Nice one man. But, o'man, you are very aggressive with your trading oh! No mercy on them forex pairs!

I guess you have a basket full of positive pips by now. As for the GJ pair, I presume you are on a buy at the moment. If so, watch the 130.00 very, extremely closely. You might even want to take your profit there. I'm just saying so because it (130.00 level) is a very significant resistance as well as a psychological level that a lot of traders might/would be looking at to take short positions (aggressively, I mean) given the fact that the general bias right now is bearish.

My view might turn out not to work, but remember, watch 130.00 for an 'anyhow' movement. Keep it going bro. Congrats on your pipful harvest this early Monday morning. Way to go man!!

Here is the chart. Good luck.

aguiyi:
the bears are really trying hard this morning. if 4257 is broken to the up side,i will double that position,its presntly +26.


where is blog icon and naijababe,i need your inputs on the position above

The EU seems to be forming a quite good buy signal on the 4 hours chart. The last closed 4hr candle showed a good rejection of 1.4200 which is indeed a very relevant level given that it succeeded in holding price firmly on all attempts to breach it - but on the last move up.

Also, using the GU (which has a good level of correlation with the EU) as a confirmation, good bullish pins have been forming which supports a long. The daily candle of today is also signaling a long, although it's still quite too early as we have a long way into the close - anything could happen in the climax of the day.

If you are looking to take a crack at a buy (which I'm not doing personally), then look to take profits at the 1.4320 level as I don't see good strengths at the moment to surpass that level - but who knows? . However, if you get stopped out at 1.4185 then the whole buy set-up is confirmed 'dead'.

With all that said, if you are feeling good this morning and willing to take some risk, then I would say a valid buy is there (on the 4hrs) - it's a 70%grade signal. However, I must state that I'm not personally taking any position on the pair as I think the market is quite confused now - the daily charts is pointing out to be bearish. I'd rather wait for the close of day to be able to make a very 'sure' decision.

Look at the attached chart below for clarification. Safe trading.

Kashif:
I am daring to buy EU. Anyone with me?

You might want to take the trade position called waiting-on-the-sidelines. There don't seem to be a clear direction for the pair at the moment. Just my 2 pips.

honeric01:
Be careful with making a long trade on EU tomorrow if you're thinking of doing that, it moved 200 pips up which you know, that could have been a temporary reaction from the help Greece got from the 2 European nations, it might well head back down, seems you have just 10pips SL for your long trade or am i wrong?

Gbam!! I was going to say just that - thread careful with longs on EU. From what the 4hrs candle speaks to me, I think it would be more considerate to be looking to the downside by market open.

This is just a quick once-over. Would be posting my detailed view of the market (on EU) by 2moro evening before market open time for those who might be interested. I can see a good selling opportunity forming, but hey, it's just my own view - i can be wrong! See you guys 2moro. Have a great weekend.

aguiyi:
the up move was rejected by the 61.8
i didnt let this sneak out of my head while i was looking far up.
thanks for this bro,you may want to name your brand and put the bill on me for the weekend
i still see an uptrend though

You are welcome brother. It's always a pleasure to be of help. As for my brand, I'm more of a hybrid guy - tombo mixed and henessy would be cool.

It's nice to see that my prediction of the EU having more volatility than the GU and reaching a good risk:reward of 1:2 perfectly came through. All thanks to God for his help. It's been a very active and 'lucrative' week. Let's pray that next week would be great as well. Aguyi the man, enjoy yourself wella jare, u deserve it after the good work through the week. Till next week.

Kashif:
Hoping for a 'better' entry

1.6117 would have been a good entry point for the GU pair. That would have been a 50% retracement level of yesterday's daily candle close. Just my 2 micro pips.

EU seems to have much more stronger bullish confirmations and a better chance to move up to give a good Risk:Reward (of about 1:2). It's quite painful though that I can't take any of GU or EU cos I already have 3 trades running - in profit actually

honeric01:
^^^^

Already in, my SL should do the job.

1.43xx at least for EU and 1.63xx for GU at least.

You are right on that brother. A good level to take profits for EU is at 1.4320. After there, we could see some bearish out turn or perhaps the market can break above and away from the present bearish condition.

1.4320 it is guy. Cheers!

aguiyi:
gu buy stop triggard at 6095,any body

I'm not in that trade but i spotted it and think it's a nice one. From the bullish candle stick rejection off the daily support from the New York close yesterday, I think that the pair should rotate up to value before we could see any more bearish downturn, nice one.

naijababe:
I don't trade gold but I trade oil. If what I'm seeing on oil is anything to go buy, I would guess a buy should be in order. Brent made me close to 700 pips from yesterday morning and it's already shown reversals on 1 & 4H TF.

Nice one sis. Way to go on 700 pips! I guess you are done for the week.

If you ignored my analysis on the USD-CHF pair where I recommended a sell you are sure missing out on some good action. You might want to take a sell position as it's not yet too late.

naijababe:
Personally not selling any dollar pairs, just exited my AU trade manually a few mins ago. USD correlates well with commodities and all I see on oil right now is folks buying all over the place. I am closing my shop for this week. Mission is already accomplished.

naijababe, I guess you trade gold as well? What is your take on gold? What direction are you looking to?

If you are still on a sell on Aud-Usd you risk giving back to the market what you reaped. Bullish candle stick formations are beginning to form off the 1.0520 level both on the 4 hours and 1 hour charts.

The 1.0520 has actively acted as a (strong) base support to the trading range that the pair has been in for some 2 to 3 weeks now A word is enough for the wise! . If there are good buy opportunities on the pair i would alert you guys. Until then, safe trading!!

GU is at major daily support level (1.6118) now and fighting to break through. Let's wait and see what happens. Watch your intra-day (4hours and 1hour) charts for price action confirmations to know what to do next. Let's just see,,,,

Just a quick tip cos no time for full details; Buy gold for about 160 pips from present price. My lappy is almost dead now and no light! See y'all later. BTW be carefull with sell on GU and EU cos they are almost at major support.

Just like I promised, here is my analysis of Usd-Chf.

Looking at the daily charts, it is evident that the Usd-Chf pair has been in a smooth downtrend for quite some good time. Looking further you would see that the 0.8550 level acted as a good support before it was previously broken, and now the market has trended up to retest this level - making it a significant level to watch for bearish candle stick formations to go short.

Zooming in on a 4hrs chart you would see that a bearish pinbar formed off the resistance at the New York close time which is a good display of weakness of the market to break the level. Also looking the 1 hr chart you would see a series of inside bars - which signifies a state of consolidation. What I have done and would advise anyone interested to do is to set a stop order (below the inside bars) to sell at the break of the lows of the candles.

The risk on this trade is 40 pips and I am looking downside to a target of 160 pips - which is the next support level on the 4hours. Should this work out, that would leave us with a very impressive R:R of 1:4 [/b]which is great.

I have attached the chart below for further details.

Just as always, this is not a call to take any trade position. It's for information purposes only. [b]Take a trade based on this at your own discretion and risk.

Good luck

TP of 120 pips hit on Gbp-Jpy. If you followed my sell call on this pair, your trading account should be smiling as I type this.

Also TP of 160 pips hit on Aud-Usd sell. Didn't have time to give a comprehensive call on this one. That gives a total of 280 pips for today. All thanks to God for the bountiful harvest from the markets today. I think this weeks trend is paying off for the dull moves of last week; had to take only one position last week.

I have just set a sell stop order on Usd-Chf. I think it is set for a southward swing. The pair has moved up to a key resistance level on the daily charts and is currently showing bearish price action rejections of the level(0.8550 to be precise). Watch out for my detailed analysis of the pair. Would be back shortly. Got to go and eat. Safe trading.

honeric01:
I entered around 6420 for 6330 above the pivot point.

Shorted EU too for at least 4440

Nice one man. Saw the clear sell opportunity there but I'm rather waiting for GU (short as well) as the EU pair's volatility is very poor, but for sure it would go down.

GU seems to be forming a good sell, but it's best to wait for New York close time to make a more concrete decision based on the signals from the closed daily candle.

BTW look to short Gbp-Jpy as at now. It's currently at a strong intra-day resistance level and has failed to break it on the last 3 trials or so (see downward arrows on attached chart). To further buttress the downside outlook of this pair, there are several bearish price action setups on the intra-day charts i.e the 4hrs and 1 hr charts.

Should this set-up work out, it would yield a good Risk:Reward of about 3 and a half times my risk as the SL is up at 35 pips pips while I'm looking downside to 120 pips.

See chart attached for clearer understanding.

warning: user discretion is advised before taking a trade based on this call.

Just 4 pips from my 120 pips TP long position on EU from Monday morning . Good reason to shun trading off 'rumours' and follow your trading rules, btw, re-entered my short position on the Usd-Chf that stopped me out and came out with 55 pips of profit, keep pipping guys,

Instafx and liteforex are actually the same company.

Blog icon:
Free advice: leave the EU and GU pairs and sell the Usd-Chf pair at current price (0.84189) for about 70 pips. peace out.

Stopped out

Free advice: leave the EU and GU pairs and sell the Usd-Chf pair at current price (0.84189) for about 70 pips. peace out.

Kashif:
So you rather she comes here to tell you she made thousands of dollars like some fellas do? Forex gain/loss is counted in pips jare. The % is subject to money management, and not easily quantifiable.

I second you. You took your words out of my head; you just spoke my mind!

naijababe:
^ d tin useless pass useless    . Well all in good time mate, I trade indices too, u can call me an all rounder. That's why I only trade 3 forex pairs

Hmmmm. My guy, I only think in pips. I realised in time that if I trade well in pips, the money does not matter. Let me make myself clear.

I went long on oil with a stop loss of 50 pips and made 250 pips on it. If i used $2 that will be $500 with a risk of $100. Assuming my original capital was $5000, I would have increased it by 10% in total but my real profit is 500% ( amount i was risking was $100). When I said I made over 300 pips, i didn't state what I risked did I? Thanks anyway for the heads up, but believe me when I say my risk reward is the part that I work on the most.

Also it's very important to set goals in trading and once the goals are achieved, be disciplined enough to not fall into the trap of overtrading and/or overconfidence. The market is a manic depressive beast, underestimate it at your own peril. That said, happy hunting y'all  

Gbam! Those are the words of someone who knows what success in trading FX is all about. I have actually been reading and following replies from the sidelines (due to the stupidity of the bot), but I couldn't help but log-in to hail those words.

Risk : Reward is actually where the money is. Personally, I do not take trades that have a R:R less that 1:2. With that strategy in place I can afford to lose 60% of my trades (I don't actually  Smiley) and still remain profitable at the end of the month.

What was the attack on her all about in the first place? Angry Sad Sad. Keep it going @naijababe, you know your onion.

Kashif:
So you rather she comes here to tell you she made thousands of dollars like some fellas do? Forex gain/loss is counted in pips jare. The % is subject to money management, and not easily quantifiable.

I second you. You took your words out of my head; you just spoke my mind!

naijababe:
^ d tin useless pass useless    . Well all in good time mate, I trade indices too, u can call me an all rounder. That's why I only trade 3 forex pairs

Hmmmm. My guy, I only think in pips. I realised in time that if I trade well in pips, the money does not matter. Let me make myself clear.

I went long on oil with a stop loss of 50 pips and made 250 pips on it. If i used $2 that will be $500 with a risk of $100. Assuming my original capital was $5000, I would have increased it by 10% in total but my real profit is 500% ( amount i was risking was $100). When I said I made over 300 pips, i didn't state what I risked did I? Thanks anyway for the heads up, but believe me when I say my risk reward is the part that I work on the most.

Also it's very important to set goals in trading and once the goals are achieved, be disciplined enough to not fall into the trap of overtrading and/or overconfidence. The market is a manic depressive beast, underestimate it at your own peril. That said, happy hunting y'all

Gbam! Those are the words of someone who knows what success in trading FX is all about. I have actually been reading and following replies from the sidelines (due to the stupidity of the bot), but I couldn't help but log-in to hail those words.

Risk : Reward is actually where the money is. Personally, I do not take trades that have a R:R less that 1:2. With that strategy in place I can afford to lose 60% of my trades (I don't actually ) and still remain profitable at the end of the month.

What was the attack on her all about in the first place? . Keep it going @naijababe, you know your onion.

Hey guys, from the expressions I can read from majority of the posts here, it seems that the general on-goings here is pipping a handful, then later giving it all back to the market; perhaps with extra, we all have to be careful cos the market is very choppy right now, better still keep off for the rest of the week, me is trading only the dailies now, and everything seems so slow - only one (good, BTW) trade since monday, just my 2 cents, good luck to y'all.

Seun:
Start with Python. Add C#. I don talk my own.

Thanks ooo! A quick question, is it practical and possible for me to learn C# with no background knowledge on say C or C+. I mean would it be easy for me to understand or understand at all?