₦airaland Forum

djwalata:
I bliv d sudden spike down was due to pple who jumped in immediately based on d fundamental news just released(EUR news) but technical analysis proved them wrong....
200ma served as support on a 1tf and 50ma for d 4tf. I hope my SL @1.1040 will b respected on a daily tf.

the reason I chose 1.1040 as my support/SL is that d 50ma has been on horizontal level, serving as support throughout this week when price went through it upward.
NOTE. I'm trading on a daily tf

meshpips:
The spike up was an opportunity to "double up"

I bliv d sudden spike down was due to pple who jumped in immediately based on d fundamental news just released(EUR news) but technical analysis proved them wrong....
200ma served as support on a 1tf and 50ma for d 4tf. I hope my SL @1.1040 will b respected on a daily tf.

ejosh4:
Nice analysis boss....But there could be a barrier on the way as the 200ma is not far from your entry... If price crosses that, you got a winner... Once again nice analysis

U r right as well. 100MA also supports d bullish pin bars very well which can as well favour m.

meshpips:
Price might get to 1.1046 or even 1.1017 first before proper buying will rake place.

I think the sell side should be favoured for now.

All the best!

It might also get to d downward arrow b4 going up if at all it will go long.. One's best trade set up might still go wrong any time because market movement depends solely on d volume of open buy/sell positions

AyoII:
I think you should have been more patient with that trade altest two key resistance for the PA to beat And you should have waited for a price action signal to form and also the price action should be respectful of those level...
AND LOOKING AT THE CHART ITS A SHORT TERM DOWNTREND WITH PRICE REJECTING THE 82.500 and 81.83 level. And price also below the 81.83 level... U should have waited for a price action signal to like pinbar or inside bar etc to form under that 81.83 level and sell with the trend instead of the counter trend trade
MY OWN OPINION THOUGH
ANYTHING CAN HAPPEN IN FOREX AND I KNOW YOU HAVE YOUR OWN REASONS AND PLANS TO ENTER THE TRADE
But any way Good luck TO U

I bought the pair and not sold.
these r d reasons y I bought....
there was a downward channel which d price broke through on Oct 15 to d upside, there was a retracement to d resistance of d channel (now support)on Nov 1, Nov 14 which served well as support. d price tried 2days ago and yesterday to break downward but eventually formed bullish pin bars.
these bullish bars absolutely formed on d upward channel.

Bought already. I wish myself a good luck.

1.1070/80 is difficult for eurusd to climb though I'm still long and my SL is 1.1040 on a daily tf.
This morning's news on EUR will b a huge factor.

AyoII:
CHART SETUP IDEAS AND ANALYIS: EURUSD REJECTING KEY LEVEL
N.B** This is for educational purposes only and all analysis based on D1 timeframe.
Trend: Bullish (short term)
Relevant Key Levels: 1.1076 & 1.1177 Resistance and 1.1005, 1.0958 & 1.0907 Support.
After a short-term uptrend the EURUSD is reject a key level 1.10760. A breakout above it may continue the "bulls party" and a closure below can trigger a downtrend which is also a continuation of the existing long-term downtrend back to the 1.1005 level and or further. Wait for Key PriceAction signals, Should A position is to be initiated in any direction .
Choose Wisely.........

u r right . I'm still bullish bias based on yesterday's price action which was bullish pin bar, though didn't close well above d intended level. a close below 1.1045 will negate my bullish suggestion.

Softkelvin:
Thanks bro, which broker would you recommend?

I use fxtm. good for m. fxcm is also good. just partner with a regulated and registered one.

patiently watching how price will react to fomc meeting at 1.107

meshpips:
Sir,

the daily candle closed ABOVE 1.1072

Hope I have been able to help your unbelief? Some things work better than mere price action. One of which is VAP

Time has told this story. The market has served as the final arbiter.

Hope you have learnt a few things from my posts sir?

Yes, it did close above 1.1072 but I bliv u too know that d candle formation is doji( this is y I said I also consider d candle pattern, which is price action), also d candle b4 it (18th day) was a clear rejection of d price in question.
It all depends on today's close and how it closes.
fx movement depends on many things but I keep it simple to channel/resistance/support, candle formation which is called price action.

meshpips:
Before the price charts came, traders used the TAPE.

Go and find out what that is then come back and tell us your findings.

About the 10 -15 pips profit, I'm certain that you will learn a few new things at the end of this trade.

Time will tell the whole story.

The beauty of this thread is to learn from one another without using any abusive word. It has been said that u r free to use any indicator so far it makes u profitable over a series of trades.
I trade and share my opinion solely on channel/resistance/support and candle formation which is price action.
Ur opinion is as well welcome. I appreciate it.

djwalata:
I've closed my eurusd buy @ 1.1060 and c how today's candle closes because there's a resistance at 1.1070

This is y one should prefer trading higher tf like daily to 4h or lower. 1.1072 is a resistance. Yesterday's closed was exactly on d resistance level. U would ve assumed that 1.1072 was broken yesterday if u r trading 4h tf but daily tf proved it wrong by lowering d price back to and of course closed at 1.1072.
I still find it difficult to bliv that any indicator is better than a mere price action because all d thousands of indicators will still obey d rules of price action which is openly there for everyone to c.
Going long will depend solely on daily close above 1.1072/75.
If u r selling d pair, my advice( which is not a COMMAND) is to close d sell position once it closes above d resistance unless u r chasing 10-15pips.
U can as well sell d pair but SL is advisable to b immediately above 1.1072 region which is above d resistance.
Good luck.

djwalata:
I've closed my eurusd buy @ 1.1060 and c how today's candle closes because there's a resistance at 1.1070

Eurusd will continue its bullish when daily candle closes above 1.1075

djwalata:
I bliv u r enjoying d upward ride?

I've closed my eurusd buy @ 1.1060 and c how today's candle closes because there's a resistance at 1.1070

U can avoid d pitfalls of trading d news by remembering that PURE PRICE ACTION reflects everything that is affecting d market at any given time.

djwalata:
Though u r entitled to ur own trading pattern but I'll advice u or any other person to close ur sell position if u ve any open position. u can sell when it sells and closes below 1.0970 on a daily tf.
NOTE.... MY ADVICE IS NOT A MUST FOR U.

I bliv u r enjoying d upward ride?

COZA:
sorry man.. better days ahead. alabi go pay Las Las.

sure

iamawara:
I am telling you bro. This one dey certain

stay positive

djwalata:
Time to buy eurusd draws closer. Price is at Fibbo 61%, almost at support 1.0970 as well as upward channel support. Yesterday's closed was doji. I'm buying this when today's close price action is bullish.
Good luck.

A close below 1.0970 will negate d bullish pattern.

1zynnvn:
i predict its still going down, thats d weekly chart

Though u r entitled to ur own trading pattern but I'll advice u or any other person to close ur sell position if u ve any open position. u can sell when it sells and closes below 1.0970 on a daily tf.
NOTE.... MY ADVICE IS NOT A MUST FOR U.

Time to buy eurusd draws closer. Price is at Fibbo 61%, almost at support 1.0970 as well as upward channel support. Yesterday's closed was doji. I'm buying this when today's close price action is bullish.
Good luck.

Virgo123:
Good day house, please who knows a site like babypips.com where I can learn buying and selling of bitcoin better

Though I don't trade bitcoin but I absolutely know that it takes d same approach (technical/fundamental/sentimental) of trading currencies which babypips teaches 100% for free.
Mind u, bitcoin is highly risky due to spread and volume. I will advice u to trade bitcoin ONLY when u r profitable in trading currencies.

Softkelvin:
How profitable is forex ?

Forex is only profitable to those who r real traders( who r not gamblers ).
Profitable to those who listen to instructions given by pure price action ( and not those who keep jumping in & out of d market every minute like gamblers do).
NOTE: If u want to b a profitable trader, don't trade a live account UNLESS u r profitable in a demo over a series of closed trades for some months.
I LOVE FOREX.

Dwayne22:
can scalpers also use it or is it only intraday traders that make use of it?

I trade mainly on a daily TF, leaving d trade for 1week sometimes depending on d market movement or d aim of my TP. Scalpers only ve an open position and close it almost immediately. the best I can advice newbie is to trade 4tf or daily tf

Dwayne22:
I want to ask something...


why do professional traders make use of 1h or 4h time frame, instead of 15mins or 5mins?

u hardly find a renounced trader trading less than 4TF. Using 4Tf and above gives u a better and clearer picture of d market price action, less (fake) signals, gives u more freedom to do other things instead of opening ur phone/laptop almost every minute for update.

THExxCRAFTERxx:
Hello Traders,

Are we ready for the first trading week of the month?

If YES, let's hit the charts...

After Gold embarked on a bullish rampage on Wednesday, it got stopped dead in its tracks by a strong resistance level (1514.40)

At this point, price has two options:

A breakout which could further encourage price to continue it’s bullish move to the next possible resistance level (1534.09) or
Price could reverse and head back to seek refuge on the support level 1495.40

Personally, my bias lies in the former, but again, we have to ensure we get a breakout confirmation before we follow the trend.

What are your thoughts?

Based on a pure technical analysis, gold is likely to go up this week....
Reasons....
A pure bullish pin bar was formed immediately above d upper downward channel( which serves as a support) and 50SMA.

redsox11:
Guys we are forgetting the rules. Forex trade alerts.

Don’t post your chart when it’s half way to your take profit. It doesn’t help anybody here. If you post chart that is close to TP.

I can’t enter to join the trade because it’s close to TP already. We can always post chart analysis because it helps.

Post the chart when you enter. Or post e.g, entry at 0.12467 , SL 50 , TP 50 . You can do that if you can’t post chart.

Ps: I don’t mind people with big ego . But do it the right way. Show us you're the man the right way. Post when you enter. And after fact.

It's better to show charts because all charts should b self explanatory even if u don't say a word on it once almost all factors ve been considered b4 u open d position.

Time to buy usdjpy

currentprice:
Odiaro will show u 100lots size trading

chai!!! my eyes don see too much for this buz

He might ve changed his user name in order to deceive more gullible newbies ....

[quote author=djwalata post=83162511][/quote]

Downward channel + bearish bar.

Bolutumiii:
Pls, why is ur rsi value 9 as against 14 the default value? Perhaps it's for better sensitivity.

There r hundreds of indicators to be used in Forex trading... u glue to what works well for u. I noticed 14 works better on a 4htf while 9 works better on a daily TF which I usually trade.