₦airaland Forum

My perspective of gold as we plan for the new week.
I have saved my last margin for gold so I hope its worth it.

Again, gold may rally into the Qml/mitigation block which I have fine tuned to the grey box. A reversal candle from H1 or H4 would guide my decision to take the trade from that price region. The next bearish rally probably towards the Qml/ last shoulder of the HNS where we have a new demand zone.

I remain hopeful.
Cheers to a new week !

ogashman:
Looking at trading Gbpchf this week.

That pair and gbpnzd seem untameable.... Little wonder why most traders don't trade them

I think all chf pairs are crazy

.

Forexislife:
Lol

It's weekend na.

It's been like that all week. Just a few of us now.


It's making me feel like I spend too much time here now

I miss the interaction here.

Why has the place suddenly gone cold?

AfroAgroPower:
Wow.

Do you trade Cryptos too?

I can provide you with an AI Trading platform that helps you trade to earn MASSIVE and PASSIVE income as it trades "The Grid System".

I'll also provide you with a YouTube video and a Free e-book which I personally wrote and documented about Understanding and Trading " The Grid System" which I consider The Easiest and Ultimate System to trade Any Financial Markets.


Let me know if you are interested by reaching me via WhatsApp through my phone number below on my bio.

Thank you for the interest to help out but I don't trade cryptos (at least at the moment). Trading cryptos will require the same knowledge from forex, yes? If so, I think my mastery of forex trading will give me the confidence to trade cryptos too.

It's one at a time for me.
Cheers!

abham:
I just wants to have a wealth of knowledge in this field so I can have plethora of choices. I don’t want to get stuck when I see a certain structure or market.

Its nice sha but remember say "over-spicing dey spoil food"

Forexislife:
Some people can trade 50 pairs and be profitable. I know someone who does it easy. Check out Momoforex on Instagram, he does it.

However, it depends on individual, I tried to do that earlier this year but it didn't work, too tasking and given my busy schedule (9-5), I decided to stick to just gold and that has been fair.

So it depends on the individual.

Sometimes I imagine how they do it TBH. If a setup appears in say about 70% of the trading pairs and knowing that no setup is loss-proof, I fear trading all those setups may have a heavy impact on the capital with regards to MM if it goes south.

I learned from someone with about three decades experience in trading that "you have to be a specialist" to succeed in the long term.

Trading a lot of pairs may be fun to some but I fear they may hardly ever understand the " inner dynamics" of a single pair in order to understand why they lose some trades.

MONEY247:
Please sir... do you make losses..
By using order block.... strategy

Nothing is "loss-proof". Psychology is the real deal.

I could be trading S/R and still be profitable. I could be trading with indicators and still be profitable. I could trade only market structures and still be profitable.

Just know how to manage losses and the right psychology to the business.
I wish I have attained the level to be addressed as "sir" but I'm far from it. I'm just charly20.


Attached is my trading history since about one month ago. It was a red month!

abham:
I guess this mitigation and RTO works better on a higher TF.

I usually use 15 minutes TF for sniper entry but after seeing this your analysis, I’ll have to see videos on this mitigation, blocks and RTO so I can learn to trade them.

I become enthusiastic about trading every week and thanks to this community.

To each his own style of trading.
I trade order blocks which I learned from ICT but I have other factors I consider too like Wyckoff's schematics and market structure. I use Elliot waves also to guide my direction.

It's supposed to be simple. I hope you find what works for you too.

Cheers!

Forexislife:
It's Friday. Abeg make una go rest and enjoy.

Chilling.

Enjoy boss, my turn never reach

In the past two/three days, data from gold shows a preparation for 1822 ish but I had to go to M5 to see if it's ok to engage in the long yet but apparently, it's still what I believe to be the last move of the bearish corrective wave (the 5th wave)

I think it would be more comfortable to buy if the high of what I describe as wave 4 is broken.

Till next week! I'm grateful for this week's blue pips.
It's difficult to develop the right psychology and it's even more difficult to WAIT for the setup to be completed especially as a new trader but I have submitted to TIME

Elliotwaveforec:
Thanks for replying. You're good.

You're welcome

As I said earlier, I'm still very bullish on USD and bearish on EU. Unfortunately, I was so busy that I didn't observe price mitigate those areas so I could manage to add a few more positions.
I'm a swing trader-in-training the kind crypto traders call HODLERS so I'm ready to lose an already profitable trade if it suddenly goes against me. Since USD has so beautifully reacted as expected, I'll still HODL my USDCAD till 1.30 and EU till I see USD becoming weak.

Elliotwaveforec:
What's RTO and mitigation zone?

An RTO is "return to order block". By my understanding, It is an ICT concept which denotes an area where institutional buyers come to close orders which they had previously opened after accumulation or distribution.

There are many "blocks" though .

I learned from ICT, glad to see you found something interesting from my post.

Enjoy your weekend!

abham:
I don’t know how but I’m doing quite well with LTCUSD but I’m still observing if I can master the pair, though I have others I’m watching.

If you feel really confident trading it. I don't see why you shouldn't master it

CopyJoe:
For a newbie like me, I think we only need few pairs.

I can add more as I grow.

True. The few pairs one has, the better he understands the price action about that pair.

I look to understand the PAs of EU, UCAD and gold

CopyJoe:
AU also removed.

I'm left with GU, GJ, and Gold.

I would equally be reducing my pairs to 3.

I'm about being a specialist

Kaybee7000:
My SL is 30pips drawdown while my TPs are opened

I think today is "short day" for GA. I think she may return to the 1.86*** area.

Overall trend is bullish though but I think in terms of order flow, today's for the reds.

It's only an opinion
Good morning!

Elliotwaveforec:
Index about to crash; next target 9207

I honestly don't think so. I think it's just retracement which is rightly due.

I think it's only going to RTO at 92.303 area which is a mitigation block. I'm still bullish on the dollar in the coming days till 95/96.


My margin is preventing me from adding up positions on my already running trades.

Usdx is showing willingness to RTO but USDCAD is not playing along Only EU. EU may want to mitigate price at that previous broken low and at the same time TL "break and retest" buyers have been induced. I'm still very bearish tho.

The close of the current 4H candle on Gold will determine if I would still risk selling off as yesterday's high has not been violated.

cally10:
Pls I want to learn forex, anybody here that will be kind to teach me

I believe this community is a compendium of strategies, techniques and experiences. You can also get more enlightened from the "school of pipsology" @babypips dot com .


Stay safe from scammers and WELCOME TO THE COMMUNITY!

walukoe:
Red flags How? Have I cooked up any story? I have five years experience as a trader both crypto and forex and am still keeping my day job up until now. Just want to know how a full trader cope with trading before I quit my job. Isn't this a personal information too that I should not divulge online. I know I can be scammed too and hence reasons for being initially cautious.

Let's take it easy now, comrades. I think it's normal to want to be apprehensive when someone "barges in" and begins to post "profitable" trading history.

FTA has come a long way but past experiences still live with us.


Welcome to the community!

Gold didn't react well to my previous marked up demand level.

So I'm re-strategizing. I'm looking at 1758 price and I would be taking any shorting opportunities today presents.

Meanwhile, I'm up some decent pips in my other 2 trades. I'll be looking for reversal signs before closing my positions.

Good morning!

Gold is really dull today. I guess it is because the daily closed with "a falling knife".


Its an accumulation. But re-accumulation or re-distribution?

If gold closes out side my zone, I'll take it as a good sign to go long but what is the plan?

I'll try to use that area of liquidity(support zone) to my advantage, I'll wait for price to bounce off it and retrace to form a higher low on 1 hr before pulling the trigger.

It is nullified if today's low is taken out after the bounce.

samfelly:
A quick question, pls, @ everyone. WHY IS IT DAT WHEN GOLD SELLS, IT SELLS LIKE A LUNATIC (No break)?

We should be asking you that. You're the one "married" to her

IMAliyu:
Lowering SL from 71 to 70.40

Chai.... I was not monitoring the account for oil trading, I had marked up nicely .

Beautiful pips would have been made

CopyJoe:
@Charly20

On average, how many trades do you take in a week or month?

On average? I can't really say.
I have only 5 pairs marked out for study with a leverage of 1:25 on a 200usd so I can only take as much as the margin permits.

Bearing in mind my RM, I'm taking only 3 trades now. EURUSD, USDCAD and gold.

When I have more margin, I can add more trades but not more pairs.

Per week or month, I don't put that much pressure on myself yet. For now, it's about not blowing up the demo capital with careless trading.


It's too much talk for a simple question

abham:
Good afternoon people of God, what do you think about this triangle that is forming, it’s bearish on the 1 Day TF and 4H TF, a Bearish hammer on the 1H, 30 and 15 Mins TF but this photo is a 4H chart.

I don't predict anymore but I can say the USD is strong at the moment. I don't what you can make of that

charly20:
I'm scouting for longs on Gold atm.

I'll be looking for bullish presence from M15 to H1....

The day has closed (technically),so I'll be expecting re-accumulation till tomorrow.

It's gold folks. no confirmation, no entry

I'm scouting for longs on Gold atm.

CopyJoe:
That's not the meaning of cash flow.

Cash flow means. I trade, make profit and withdraw my profit.

I am not interested in turning $100 to $5000 before I start withdrawing.

Ok. But if you trade and withdraw your profits, it's good if you have a good capital that is because trading with small Capital and withdrawing the profits wouldn't allow the account grow.

I'm by no means advising you on how to make your plans though.