₦airaland Forum

.

abham:
Davigle, I’m great. I’m trying to put my life in order, though I lost my alpha capital account due to inactivity rule while trading competition accounts.

Great to hear from you mate, and sorry for the loss of your alpha capital account. Don't stop fighting champ....

samfelly:
Chief, your discipline in this business is, unarguably, top-notch. Hmm, I no sure if I go get this kind discipline o, because longer-throat (oju kokoro) go make don taste this gold bulls, since . The Disciplined Trader book no go fit even stop me from tasting it. Ma ti je dié ninu gold bull yen se.

Anyways, all men dey wait for the short call. E go bi like Musk's space shuttle returning to base. We go ride am, riden't we?

Me ah don dey chop the gold bulls since last week, infact I just wan hold am for only today and tomorrow before CPI release on Wednesday, because the sell way baba gabsonfx dey see fit start tomorrow or Wednesday. but I lean more to it starting on Wednesday on the back of a hot CPI release

my forecast for the week ahead
DXY, XAUUSD and BTC

I'm on standby for us100 and us30, although I lean bullish on us100

GabsonFX2:
I have read here, in recent time,on several posts where people here came out open to address their struggle in this business. I mentioned recent because ehhh this present FTA is far better than the past where here was full of lies, edited screenshots, etc; but now, many of them are no where to be found.

The present traders here are genuine, that I know sha, just yesterday or so, another person opened up to his struggle and we see that often here in recent time. This is happening because and like I have said many times in the past: you cannot continue to fake it, it will catch up on you, but by then it would be too late to realize. And I used to say stuff like: continue to fake it, in 2yrs, you will realize. Stuff like that. Now it's better here.

I joined this business in 2006 ish, 18years down the road; I can tell you that I gave up many times in this business that I claimed this busimess is scam. To everyone struggling, don't give up; be humble.

Shalom!

Baami your words always console and motivate me. I say this with all sincererity,

Geovanni412:
Considering your knowledge of fundamentals, in your opinion,

What is the reason behind the rise in value of the naira against the dollar?

https://www.google.com/amp/s/punchng.com/nigerias-unemployment-rate-hits-0-8-in-2023-q3-nbs-report/%3famp

First off, my knowledge on fundamentals is very basic so I may not be able to answer your question appropriately. The naira appreciation against the dollar is simply because of FGN intervention and not off economic conditions or stimulus. The funny thing is that Nigeria CBN is a tool and puppet of the FGN, they have no power of their own. Judging based off the economic data and conditions of Nigeria, the naira is very much weaker than the dollar and should be in a far more worse condition. The Nigerian economy despite being the largest economy has a very weak labour market due to high unemployment rate and low jobs creation which is definitely affecting the labour participation rate of the country. I read through the article you posted and I gleam that the bigger portion of the labour participants are mostly business owners or self employed people. Also inflation seems to be rallying up in the economy especially food and transportation inflation with the CBN having no clear plan on how they intend to fight inflation, Nigeria production and manufacturing sector is in shambles and a whole lot of other factors which economically speaking should have greatly devalue the naira. But the FGN intervene by floating the naira and then restricted foreign reserve to the citizens (the cancellation of international transaction on all naira ATM cards is one good example of it). you can't go to the bank to get dollar now as it has been cancelled or restricted from citizens. this definitely lead to rise of P2P transactions on most crypto exchanges that give access to a semblance of foreign reserve at black market rates (why I say a semblance is because usdt is not USD neither is it owned by the federal reserve bank of America despite it being pegged and having almost the same value as the dollar) and with the continuous woes of the economy, this definitely leads to the demand for dollar as a save haven to hedge against naira devaluation. The fight against bureau de change and the blockage of the naira trading on some crypto exchanges by the FGN is what is supporting the naira and not real economic conditions. There are certain countries in which their government can interfere or manipulate their economy or the value of their currencies from the depreciating further, I'll use china as a case study, at the start of the year the Chinese Stock market was falling due to a bubble that happen in the Chinese real estate market (The Evergrand housing market crash) this lead to outflows of foreign investment from china leading to serious bear trend in the Chinese Stock market and the fall of the yuan against the dollar, towards the end of January, the Chinese government intervened by ordering the PBOC bank which is the Chinese central bank to hike interest rates by a 25 basis points and then also stopped the selling of shares in the Chinese Stock market, investors could only buy shares but could not sell them if they wanted to. Because of that the yuan momentarily rallied against the dollar before it continued it's bearish trend. Look at USDJPY, the BOJ have been warning of a manual intervention on the yen if USDJPY goes beyond 152. and when you compare the economies of the US, China and Japan, you would see that the US economy is much more stronger than the other economies hence the strength in dollar. So my humble submit on the naira appreciation against the dollar is simply because of FGN intervention and not based of economic stimulus...

realone12:
Galleryeasy, kendoschurle, Nwadaka, praizgod4u, animashaun2 and host of many others

Very true, many of them bosses have gone radio silent

depato88:
Irrespective of anything you wanna tell me for the continuous extravagant bull run of Gold for days and weeks now without atleast some due retracement is madness and manipulations, it has no technical and fundamental explanations,. Virtually thousands of accounts are being blown daily

I disagree with you sir, there's a fundamental explanation to this sir. are you aware that central banks around the world have been aggressively buying gold in large quantities for reasons best known to them, but some say they are hedging theirselves before the interest rate cutting cycle begin which will definitely devalue their respective currencies, while others say due to major geopolitical risk which can lead to a third world war in the coming months i.e the middle east tension and majorly the China Taiwan conflict. I am no peddler of conspiracy theory and I know this might not make sense to you and you may not agree with what I have put here, but simply put the central banks around the world are the ones manipulating the Gold market. And I have come to see how powerful the central banks are in the financial markets, no one can corner or manipulate this markets except for the central banks. If you don't agree with that then I respectively ask you why will all financial asset go haywire when Jerome Powell speaks at an FOMC meeting. I am yet to see any big bank or financial entity that can cause the level of catastrophy in the financial markets like the central banks... just my humble opinion sir.

peteregwu:
Pls guys, I want know, if you are using trading view to do your anayisis, which of the brokers or which of them is best to use?One thing I notice is that some of this brokers, their candles sticks moves and the way they are formed sometimes can be different from others and because of it one could make mistake in pointing out some levels of support or candle formations wrongly.

I'd recommend capital.com because it has the closest looking chart to the CME or Futures charts for stock indices commodities and currencies

Gold doing wonders oooo, she no wan gree for dollar today and also Israel Iran geopolitics supporting her. if Iran does carry on with their threat and strikes Israel over the weekend, gold will definitely gap up at market open and price may breach 2350 level, this is just a speculation though. fingers crossed. I lost badly on werey US30, she no go up she no come down, make I continue to dey use gold lick my wounds..

kellybently:
The key parameter that drive NFP, Average Hourly Earnings, it's alway come out very late. just hold on for it before you make your trade decision.

Your head dey there coupled with unemployment rate. I like to call them the three musketeers ie. NFP, unemployment rate and average hourly earnings

samfelly:
Na how we go take dey see our various performances (on a leaderboard) I still dey look for. Make all the Avatars of fx dey warm up o

Mi sef don do press up taya, fxblue really spoil show for person and forexfactory or myfxbook no even get the feature sef

nzechu:
after doing retracement from 100 percent next candle goes to do a retracement from inverse 23%. Dem no teach me that one. But trade is playing out, though difficultly

Twale babami, hope say you really knack this gurl strong thing make her body calm down small.

realone12:
boss no vex o. I think my little advice for you is to tone down your fundamentals a little bit. I think you know too much and it causing you confusion most times. focus more on what the chart is telling you rather than what fundamentals is telling you

Ogami you are absolutely right sir, I am struggling with information overload because I consume a lot

PriceActionZ:
hi chairman, hope you good. Let me point out something from my own perspectives.

Some of you dont still understand how some of this market moves and sentiments behind them. 2 days ago i posted this for someone.



See the bold. You see, there is a big news tomrw or today naija time, so there is every sentiment market moves before that news. To which direction? you have to figure that and stick to that. Oga Gabson kept saying he wont trade gold on buy, e get why he stick to that, and na because of coming news of today. Now he saw potential entries, he smatched it.
This news coming will change some directions if the data is surprising. It happens every month most times. You have to figure which direction per pair. All i need to do is wait for the news to come first, then after 30 mins, you will have some clear entries. But am sure, some will be there before news and want to gamble on the news when you are not in-house member that get data before they are released to the public, and they will be burnt either buy or sell. E get why. and it also get why , why most prop firms are strict on news trading.

I am not a guru, and very far from that but with the little experiences i have learnt over time, its possible one get it right many times, then follow it up by using high RR to get the job done especially picking entries from lower TF like 5 mins or below.
In your own case, you had good profits, before sentiments started to change but you didnt cash out in time. Thats what really affect your loss.

After a long time on gold, i traded usCAD- sell, and GJ- buy yestday, just to test them on my prop account especting around 100 pips on both on ratio 3:1, but after like 7 hours that it didnt go as i expected, pushing up and down, unlike what i was expected, i later closed them for like 35 pips profits after initially i saw almost 65 pips at their peak , i closed them both when i saw some formation against my entries, before that last talkative talked. I walked away. Even on gold many times, i worked away at minima loss, and sometimes hit the sl with full force, but we move.
If i left those pairs thinking they will break later, i would be crying now. They would have hit SL.

I dont know where you trade from, either phone or laptop but learn to always know when to run out and how pattern are forming with sentiments. And also stick to some few selected pairs, even if not more than 2. E get why.

sorry for your loss, you will bounce back strong. Cheers.

Ogami thank you for your post ooo, it's an eye opener, Will do well to study it

GabsonFX2:
I took 550.0 pips ish on that US30 yesterday crash on my new 100K funded account with fundednext. I knew I would be on air for 6 hrs ish, so I shorted it and set a SL and TP. As soon as I descended, I checked and saw TP taken just after 6 hrs. I was wowed! $5,500 bagged on that single 6hrs trade.

Bossmi congrats ooo, e get why pikin no fit see wetin elder dey see as e dey siddan so... I'm working hard to be like you sir

Goolsbee ati Kashkari ko ni da fun gbogbo yin, ewo ni rates cut might not happen this year...😠😠😠

What the Bleep is happening in the stock market, nasdaq crashed 400 pips, US30 crashed 700 pips, who in God's name is fucking this markets, even Gold is not left behind, had to close all my gold trades for small profit b4 e turn to loss. market dey crash when NFP neva comot

Davigle:
Nasdaq up 170 pips, and counting, fly baby gurl fly

O lawd who did I offend, nasdaq long from 200 pips profit to a smashing stoploss hit, gawddddd 😭😭😭😭😭, I really need to start closing my trades whenever a Fed speaker is speaking....

GabsonFX2:
Gold

Gold D1 swing getting ready to start the swing short I have waited for since last week, I will never long gold for the next 1week or 2. I expect today and tomorrow to fully prepare that short swing, I might enter on Monday or Tuesday. I will call the trade here at that time, I expect her to swing for atleast 5days looking to get about 450 pips.

Meanwhile, I got my $100K fundednext funded account today and the additional BOGO $100K challenge account.

Food is ready oooo, congratulations Bossmi. More oil to your head sir.

Jashub:
I'm seeing bitcoin option as 1usd ...wetin that one come mean if minimum deposit is $5?

you may be able to deposit $1 into your account but you won't be able to trade as your account balance hasn't met the minimum deposit requirement. you need a minimum of $5 in your account before you will be able to trade...

Davigle:
Torrh, me sef I be FBS ambassador. 😁 make ah quick claim am after greatcheer b4 anoda persin go come kolombi am.


Meanwhile I'm getting set to long gold at 2283 with my SL at 2278

#Gold to the moon

Gold trade triggered at 2283, let's see how it goes Sha, my target is 2317 to 2326

Jashub:
Boss you dey use FBs? If yes, how much be minimum deposit and you dey run cent account ?

Minimum deposit for FBS is $5 and just look below 👇 the screenshot to see the deposit options they offer, although I don't have funds in my account at the moment, I have a standard account and not a cent account with FBS

Davigle:
Hey guys buy nasdaq now with 50 pips stoploss, tp open, I will be swinging it till NFP Friday, meanwhile, na God go punish US30 for me, werey, I sell she buy, ah come buy she con go up like 80 pips only for me to see her dumping, she's selling like mad. werey girl 😠😠😠

Nasdaq up 170 pips, and counting, fly baby gurl fly

nzechu:
Na me hfm ambassador for here, make dem do come pay me o. Hotforex is ok, octafx is ok

Torrh, me sef I be FBS ambassador. 😁 make ah quick claim am after greatcheer b4 anoda persin go come kolombi am.


Meanwhile I'm getting set to long gold at 2283 with my SL at 2278

#Gold to the moon

GabsonFX2:
$5K profits turned $9,310 in 2 days. I need to learn to settle for less like $5K. I'm very poor at that.

Make infinityforexfunds no run o 🏃‍♂️🏃‍♂️🏃‍♂️

Baami, your legendary cannot be compared to, abeg no vex with my question but how you take dey do am. because this wan pass experience oooo. 🙏

nzechu:
All previous analysis have now become invalidated.

It's a buy till 423% for eurusd and GBPUSD. My favourite being GBPUSD

Yep yep yep, 423 guaranteed on EU and GU due to NFP , but let's wait and see, I don't want to get ahead of myself


Guys we are just 2 points from hitting 2300 on gold, gold to the moon

nzechu:
u should be selling us30, Nasdaq and dax. And sell for a long time (trade plan: sell limit at test line for us30 and stay till 423)



Still an opinion though, no mind me

No lele bossmi, although I hold a different opinion from you, I think indices will go up because looking at US30, price just swept liquidity, but nevertheless I will follow the market and not what I think about it

Hey guys buy nasdaq now with 50 pips stoploss, tp open, I will be swinging it till NFP Friday, meanwhile, na God go punish US30 for me, werey, I sell she buy, ah come buy she con go up like 80 pips only for me to see her dumping, she's selling like mad. werey girl 😠😠😠

Frank571:
Baba make I still post more evidence

Nawao, you sef no wan gree for anybody...

Donsheddy:
Gold wan go meet God for heaven....
As for me and my house...
Na buy i go dey press for gold until I see a bearish daily candle...
Seems like gu is positioning itself to retest last months high..
With last month closing bullish...
Means bulls still have some stake this month

yes ooo, EU sef don shift bullish since yesterday sef, and seasonally speaking April tends to be bullish for all xxxusd pairs

Gold pumping as usual currently at 2294