₦airaland Forum

Waddup pipu, like I said earlier on, the bulls are back on gold, US jobless claims came out badly for the dollar and it's dumping like a meteorite,Gold seems to be soaring on that news release, 1970.xx breached... I'll be swing gold alongside boss gabsonfx.... cheers to those on the right side of the trade next level to be broken is the 1975.xx

GabsonFX2:
Silver and gold

After the standby, getting ready for a long gold and silver.

Silver longed, SL = 22.55.
Long ride till like next week Thursday.

Gold to be added if today or Friday closes above 1973.X, else ignoring, and to remain on standby.

See you all next week.

Oya oooooo you have heard it from the boss himself,
(jumps into the trading room)
Hello folks, today is greedy bastard day and I want y'all to long gold with all you've gat in 3....2....1.........


ps: use proper risk management wooo, ah no wan hear say village pipu hold you for blokus fiam....

Puremark:
Why non farm payroll news release is not coming up in December .pls enlighten me

Bro next NFP is on Dec 8, you can check forexfactory or fxstreet...

FXcandles:
Due to falling oil prices, Bloomberg reported that Russia will cut its crude oil export duties by 5.7% for December
New import duties that began in December were set at the equivalent of $3.37 per barrel or $24.7 per ton, according to Bloomberg.

Meanwhile, Saudi Arabia may extend its cut oil production until 2024 according to Reuters due to Energy Aspects co-founder Amrita Sen as said citing oil prices that are still too high and fundamentals that are still too strong to support a reversal. Oil price yesterday back to decline and is now traded at 76.55

I guess the bulls won't be here anytime sooner maybe Q1 of 2024, as it stands the bears are having a field trip on the black gold...

I believe gold is setting up for another bull run. I expect gold to correct lower and maybe consolidate between 1955.xx and 1950.xx, if it does that we may see a bullish momentum by Friday before market close.
Although I maybe wrong, but I sure am sitting on the sidelines until I am sure of what I am seeing before I dive in...

GabsonFX2:
US30 is vexing!

Walaitalai the Tim Taya me sef, up she no go, oya come down, she say mba... e b like say dis ranging fit reach Friday abi wetin you see bossmi...

nzechu:
bro u are doing well.

Guess wat, witchcraftfx concept indicates there will be continuous bullish strength.

But of cos market can choose to show us the middle finger

It looks like the bears have it today, but this could be the pullback we all need to join the bullish train, from the HTF, the markets are correcting before they continue the bullish momentum..., tomorrow may also see a deeper correction or consolidation, I'd rather prefer the latter so that I can prepare to buy...
so hence sitting on the sidelines

I think the bulls are not yet done, as Investors are expecting PPI and retail sales to come out lower as CPI did yesterday, if it does come out we could potentially see a continuation of the bullish momentum to the upside. I believe CPI has created a snowball effect on these markets, and we can see that gold so far has continued it's bullish momentum, I will be looking for an opportunity to join the bulls on gold and indices by 2.30pm with low risk if it's in line with my strategy, otherwise I'm on the sidelines.

Note: I may be absolutely wrong and market may rubbish my analysis, only proper risk management will safe me if I'm definitely wrong...
cheers to everyone.
also shout out to fxcandles for the good work your doing on oil, I'm beginning to see bullish momentum there as OPEC plans to cut supply inorder to drive up demand...

Stock indices

Gold

The power of CPI

GabsonFX2:
US30

Davigle, did you see US30?

I will be on a standby on gold, US30 and USOil this week. No trade.

I definitely agree with you sire, even currencies took out the previous week high in one day due to CPI. I am also on the sideline as well, although I still haven't mastered sitting out of unclear market conditions as you boss, but if do get tempted to take a trade this week, I will be using the lowest risk because I don't want to give back the profit I made yesterday...

Hulo house, how are we all doing today hope we had a profitable day.
So looking at the charts, the DXY bled heavily, as CPI confirmed investors sentiment, so as it stands it's risk on for investors, liquidity will be moving away from the bond market into stocks and currencies. Also CPI seemed to have bring the bulls back on gold, I'm anticipating that going forward through the week, we should see crazy rally on gold, #gold to the moon.
Here are levels I'm looking forward to see price take out before or by the end of the year.
Gold to 1971.xx, 2009.xx and maybe 2022.xx
US500 to 4600
US100 to 16700 and maybe 17000
US30 to 35600 and maybe 37000

Note: all the these levels are from the Monthly or Weekly Chart, and also this are only my view or perception of the markets, I may be wrong and market can completely rubbish my analysis as no be my papa get the markets. cheers to everyone...

kozmicity:
Oddly enough it's not. It was my FBS broker. The Darwinex challenge account has no such spike downwards before the upwards push.

I saw the spike on exness too, but when I checked darwinex, TFT and fundednext, I didn't see any spike. could fbs or exness been performing some sort of insider trading or stop hunt, looks fishy to me though...

CPI CAME OUT BEARISH AS ANTICIPATED, LONG LIVE THE BULLLLLLLLSSSSSSSS, OK PEOPLE, WE ARE SET TO HAVE AN END OF YEAR RALLY ON STOCKS, SO LONG IT WITH EVERYTHING YOU'VE GOT, CUS WE ABOUT TO LAND RIGHT ON THE MOON BABY.

DISCLAIMER: PLS TRADE RESPONSIBILY AND USE THE RIGHT RISK MANAGEMENT CHEERS

CC: abham, rhynoemmie, kozmicity and et all ...

LincolnOnyeabor:
Gold throughout today just doing like all these Pregnant women with their Cravings.


One minute it's selling, the very next it's buying.

Even GU come follow am dey dilly dally.

Puremark:
Gold just dey range since morning.

Na because market dey do press up naw. im dey wait for CPI 2mao, make e con show shege banza...

abham:
Good evening Davigle. Your charts are great and i share the same bias too.

Dxy printed a LH when 10Y took out it's 02/10/23 weekly high on wk tf which also happened on AU and ZN for bonds too.

For now the questions i ask myself before taking a trade

-What is the htf doing

-Where is price coming from IRL/ERL

-Where is price now P/D, IRL/ERL and

-Where is price likely to go next P/D, IRL/ERL

Coupled with time of the day for entries.

I'm also keeping tabs on AUDUSD because I suspect a monetary policy divergence.
I think there might be a huge bullish rally or run in the coming weeks or months on AUDUSD, this maybe due to the fact that the Fed's new stance on keeping interest rates unchanged or cutting it down in the future (this may be confirmed if CPI does come out lower) and the RBA are still hiking interest rates, we may potentially see a monetary policy divergence between the USD and AUD, and as a result a significant rally in price should manifest on the Aussie. Now that's from a fundamental point of view, I really wish they update the COT reports so that we can see what the commercial's position is on the AUD, I would be keeping tabs on AUDUSD due to this new development and see how price unfolds cheers. I would also like to know your view on this. Although I maybe wrong though but I would like to see how it plays out for study purpose.

rhynoemmie:
Your charts are great.

I dont think dxy is going to be making any bearish moves. That gap up there is too grand to miss.

Price is itching to get there.


You didn't do EU and hi?

Yes I did do EU and GU for study purpose but since you asked I'll post it below 👇👇👇
Cc: rhynoemmie

US30 👇👇👇

Us100👇👇👇

Overall, I'm bullish on stock indices as we can see a bullish MSS on the weekly chart across all three indexes (us30,500,100) and also seasonally, the stock market always have a bullish end of year run...

Us500👇👇👇

Gold 👇👇👇
Technically speaking I'm still bullish on gold from a long term perspective, although we see a decline in gold all through last week, this is because price was repricing into a weekly daily and 4h FVG/BISI. At the moment price is within the daily bisi but I am waiting for Tuesday CPI data before I decide my move on gold. Fundamentally speaking, the decline in gold was due to lack of escalation of tension or events going on in the middle east, this alleviated the fears of investors and as a result of that there was a decline in the demand for safe haven assets there by pushing gold lower.
My opinion: I think if CPI does come out lower, we could potentially see a rally in gold through out the week and also subsequent weeks as well...
Charts below

Hello fams, here's my view on the market this coming week,
DXY 👇👇👇:
From a fundamental point of view, investors sentiment on the DXY is bearish as a result of decline in treasury yields and Powell's hawkish remark on raising interests rates, this makes investors to believe that if CPI comes out lower it will confirm that the Fed's are done with hiking interest rates and that they will start cutting interest rates in either May or June 2024. The rippling effect is that we may see a drop in the bond market and DXY which will drive the stock market up as well as foreign currencies.
Now technically speaking I'm bearish on the DXY see charts below.

cc: abham, rhynoemmie, jameselias and @all

realone12:
you have Said its All.. alot of people don't know that Nasdaq is much more difficult to trade than us30

Honestly bro, I find price action to be much more cleaner on US30 and even SP500 than NAS100
and what pisses me off is that she tends to reverse quite a lot.

After weeks of trading both US30 and nas100, I realized that nas100 is a lot more dirty, wicked and nasty than us30. and to add insults on injury, she rewards little compared to us30 or even gold 😤

US30 has always been there for me whenever she fuckd me up

MONEY247:
usdcad.... we try to sell... targeting the low.

Sniper entry bossmi, nice trade sire

Davigle:
Possible reaction...

Price delivered as expected although it retraced deeply beyond my POI...

Possible reaction...

DXY outlook, bearish till the end of the week, MMSM possibly in play as price may have made the high of the week today... Fingers crossed...

kozmicity:
Dah 1847 buy go sexy oo

Walaitalai, but moike I sidan for one side look am first like chameleon...

Davigle:
A big thanks to all that quoted me, I really am opened to learn, and yes I do see the bearish sentiment that most traders have on gold, but I think it's a pullback from my view of the higher timeframe perspective. I maybe wrong but here's what I'm seeing on the 4hour chart. If I'm wrong, I'll definitely find out where I'm wrong...

Good evening house... Hope we all had a profitable day. So my analysis on Gold earlier on didn't play out as I was anticipating it, so i had to study the charts again on the higher timeframe (weekly, daily and 4hour) and here's my view on gold, I'm still bullish on gold long term. The reason why my analysis didn't play out was because of the overall bearish sentiment on gold which I was forewarned off by elders here and also on the weekly and the daily chart, price was being drawn to the BISI which should send price higher, so I'm back to the sidelines and will be watching how price reacts to the BISI this coming days or by end of the week...👇👇👇
I really hope I learn how to wait for trades to fully form like boss gabsonfx.... Cheers to everyone and a big thanks to all elders (cc: geovanni, kaesyrn and co) for your contribution caused I learned something new on the chart today...

ernesco0816517:
Us30 craze pass Gold oo,the idiot reverse without notification, nearly send me parking today.

Kikikikikiki 🤣🤣🤣🤣
..... welcome to za club us30