₦airaland Forum

Davigle:
Major stock indices

Evening house, update on NQ and YM
Price booked as anticipated

dmahn:
The indescipline trader is here. I'm keeping this here again.. Market or technical analysis will not solve the trading problems created by Lack of Confidence, lack of discipline or improper focus.

I will not close any trade prematurely this week. So help me God

Alaye, y u con dey drag title with me now, you no know say na only me be the indiscipline trader for here, oya shift joor, you are in my space 😝

Puremark:
thanks boss..one more question. Do cot report really affecte forex market. I thought it really matter only in future market.

In my own opinion, I'd say yes it does affect the forex market. I personally use it to track smart money movements in the market. also if you've gone through Babypips, they did talk about cot report and how to use it for your analysis in the forex market

Cc: puremark
I know you don't trade ICT concepts and I'm not trying to sell the idea to you, but if you look at the daily chart of both EJ and GJ, you would see an SMT divergence where EJ made a failure swing by failing to break the previous high while GJ raided liquidity above the previous and then breaking structure aggressively.
Last, looking at cot report on the yen, euro and the sterling, the commercials (aka smart money) are net long on the yen and net short on both the euro and pound. And last week Tuesday, the commercials added to their long positions on the yen while adding to their short positions on both the euro and pound and open interest increased greatly on all three reports.

I know I typed alot of gibberish up there which may not make a lot of sense to you but I suggest that you just take the parts that compliment your analysis, and besides use proper risk management when trading as the market may decide to rubbish my analysis as Powell no be my papa...

So overall I am bearish EJ and GJ from the HTF, but I will wait for the LTF to align with the HTF as the LTF is bullish at the moment, bearish market structure shift on the hourly chart should signal the continuation of the HTF bearish trend, cheers and I hope it helps you, also elders in the house, pls don't hesitate to make your contributions or correction as I am also open to learn from my mistakes

Cc: puremark
GJ

Cc: puremark
EJ

Puremark:
davigle what is take on eurjpy and gbpjpy for this week.

I am actually bullish on the yen due to the fact that the BoJ would be hiking their rates in the coming year, thereby ending their decades of keeping rates at a negative 0.10% which has greatly devalued the yen and also made inflation super high on the yen. Also not forgetting the Fed move on cutting interest rates on the dollar, investors could potentially gravitate to safe havens like yen, swiss franc, gold and silver, and also other risk assets like stocks. Although, recent nfp data came out stronger which send US yields higher thereby strengthening the dollar, if CPI comes out much stronger, we could see a potential rally on dollar because the Fed's may change their stance on cutting rates and decide on keeping rates at their current levels for much longer, this will also influence the BoJ decision on hiking rates and maybe compelled on keeping the current rates thereby sending yen much lower. Therefore we could see a potential rally on usdjpy, if CPI comes out stronger, which in turn will send both EJ and GJ higher as they move in tandem with UJ, and also due to poor GDP and economic growth in the UK and eurozone with both the ECB and BoE stance on cutting rates, the euro and the sterling might just plunge much lower. But a much weaker CPI will be the direct opposite of the above and with the BoJ set to release their interest rate policy next week, a weaker CPI might just bolster confidence to BoJ on hiking rates.

rhynoemmie:
Plans for the week.
Feels good to be back.

I hope i catch the gu sell but if i don't, i hope the buy from the weekly fvg will turn it in my favour

Your UJ sell is on point, I'm seeing the same too.

Geovanni412 our own FTA professor, and rhynoemmie, hope you folks are good, you've been radio silent for a while now...

peterincredible:
Sorry if I may ask I am looking for this book technical analysis for stock trend I don't know if anybody have read it and where can I get it

check out the following sites, z-lib(dot)is and LibGen(dot)is

change the dot in bracket to real dot .

🤔

Gasive:
What are you seeing on gbpchf?

As per say na you be my first customer, I say make I give you jaara
Usdchf 👇

Davigle:
So on gbpchf, looking at the seasonal data, you will see that december tends to be bearish on the pair, although I could not decipher the cot report for both the gbp and chf, if you go on the monthly chart and move back from last year 2022 to as far back as 2010 and see how the monthly candle for December formed, you will agree that about 80% of the time, December is a bearish month for gbpchf. You can also do the same for usdchf and you will get a the same result.

Overall we can see that the market structure on the HTF is bearish but the LTF hasn't aligned with the higher timeframe, it would be wise to wait for price to change bearish on the LTF (a bearish MSS on either the 1h/4h chart would be the confirmation that the LTF has align with the HTF trend . ..

Gasive:
What are you seeing on gbpchf?

So on gbpchf, looking at the seasonal data, you will see that december tends to be bearish on the pair, although I could not decipher the cot report for both the gbp and chf, if you go on the monthly chart and move back from last year 2022 to as far back as 2010 and see how the monthly candle for December formed, you will agree that about 80% of the time, December is a bearish month for gbpchf. You can also do the same for usdchf and you will get a the same result.

Oil

Major stock indices

Alright folks, here's my roadmap map for the week ahead and also as a bonus to any newbie here struggling with technical analysis you can make a request here on the forum and I will analyse any pair of your choice that you ask of me. I'm no expert nor a professional but I am willing to help a fellow noob.
Among the charts below, Aussie has my attention at the moment because the current price action looks optimal
Cc: abham, rhynoemmie, kozmicity, samfelly and et all

Last week was superbly rough for me. I had a loosing streak all through the week except for Thursday. I was so fixated on my bias or where I wanted to see price go and this made me to lose sight on what was happening on the charts at the moment all because I ignored one simple fact. What was that fact, none other than market structure. I was so pissed with myself when I found my error, after the damage had been done. I felt that it was something that was pretty obvious but I wasn't seeing it because I was too married to my bias. As an ICT student, I trade off institutional reference points (I know it sounds cliche but it's similar to s&r or demand & supply but different) but I one thing I have realize in the markets is that for any concept to work it must have confluence of other factors before which puts the probability in it's favor. Overall I have been really bearish on the dollar and bullish on all asset paired against the dollar, but market structure on the lower timeframe hadn't align with the higher timeframe, the 4h and the 1h chart were in a bullish market structure all through the week on the dollar until Thursday where price made a market structure shift or choch as SMC traders call it. The big lesson I took away is that irrespective of what concepts one trades, never ignore market structure, and understand HTF and LTF market structure really well because that will help you to identify where price is or what market trend or profile price is in... I hope this helps some one here too. Cheers to everyone

Gasive:
We have a resident doctor whose specialty is rescuing accounts in ICU, maybe you should reach out to him before it's too late.

sheeeesh shesh shish, comrade low your voice abeg no talk... ahh ahn, you want make wildfire start for here ni... 🤫

karkinase:
Heyyo guys.. hope everybody dey fine. Omo I say make I hibernate for a while concentrate on work activities. Hopefully next year we go hard again. I miss Una

yeeeeeeeee, one of the elders is back 🤩🏄

GabsonFX2:
Gold

Gold up or down this coming week, I will not be trading gold (long or short) throughout next week.

Focusing only on USOil and US30 from Monday, I don't expect to trade on Monday, so looking at Tuesday to analyze.

Great to have you back boss, and as always you just confirmed my bias on both oil and US30, looking forward to short oil and long us30.

Gold did me dirty last week but I am learning everyday.

DXYY:
SL picked

same here too

DXYY:
UsOiL Sold
SL; 70.68
Tp1; 66.96
Tp2; $62/barrel

nice to see someone on the same trade with me though my first target is 67.12

Davigle:
morning folks, we go again today, gold buy limit at, 2029.6 sl at 2019.6,
let's see how it goes

my pipu, how wuna dey ooo, hope wuna survive gold VAWULENCE today Soo... this gold na were she be walaitalai, she nearly sent me to my early grave if not for the wide stoploss I use ehn, she for don gimme beta smack for head 🤕

Fxwarrior:
Bought gold just around 2029.20

Let's see if it gets to 2200 region and above since it's broken all time 2080 region.

welcome back bossmi, gold don finally break out of it's range

Davigle:
buy limit triggered

Halooo aouse, still hanging on to my gold buy, yesterday price was pretty range bound on gold even with the negative economic data that should have send dollar to the grave yesterday, Powell say mba lialia ko Le werk, wedone Powell, I dey see ya hand

at last oh the fuel needed to push gold to the north has been released, oya oya up up up you go

Davigle:
morning folks, we go again today, gold buy limit at, 2029.6 sl at 2019.6,
let's see how it goes

buy limit triggered

morning folks, we go again today, gold buy limit at, 2029.6 sl at 2019.6, let's see how it goes

Tinyemeka:
Gold will continue falling until 1990 or 1920. Any price uptrend is simply a fake out for now.

Sorry about your loss.

I also lost 2% of my account on the TFT December competition today on gold, na Bitcoin saved my ass today, still holding it thou, Bitcoin to the moon or 48k

ernesco0816517:
Boss use this link below 👇
https://help.fundednext.com/en/articles/8021146-how-does-the-express-consistency-rule-work-at-fundednext

Awon were,
Dem dey find who dey wan kill, no be me and dem 🏃🏿‍♂️🏃🏿‍♂️🏃🏿‍♂️

PIPSMARSHALL:
Same here, yesterday's selloff is continuing. Taking a loss gave a sad feeling tho.

Bossmi, don't feel sad, I have rewired my brain so that I no longer feel sad whenever I take a loss on gold instead whenever I take a loss I tell myself that I am being punished for being impatient so rather I'll just wait more and let the market show its hands cuz I know for sure that once I take a trade and the market moves in my favour I'm definitely going to make a killing so today wasn't our day we wait patiently. I will wait patiently for gold to do her shakara because, after she don calm down na then I go ride her well, Powell oooooo where art thou,