₦airaland Forum

Donsheddy:
No ohhh 😂😂😂
Me wey don close shop for this week ..
Na Siddon dey look i dey today....
While i dey watch the market to understand the next move 😁
Normally na speculation....
Na to siddon look for confirmation and entry

Better oo... I don't personally like trading on Fridays. Market fit just hold person for negative balance. No Sl or Tp then market closes only for you to see the new week gap take out your stop and rally.... It has happened to me more than 20 times.

TradeCode:
AUDJPY BUY AT 94.9985

SL: 94.420

BE : ABOVE 95.337

PRIMARY TARGET : 96.330

I support this one with a crate of Goldberg... But this Stoploss looks like where we should put our initial entry or add to losing position. I'm waiting for price to come to the first rising TL, if possibly create a false break out of it and touches the one below it... I will be holding for 98000

OfficialP:
Me I no dey for all this too much and fancy analysis again, just gonna be keeping it simple and basic.

On GU. 2819 is my POI, and am bullish. Will I just buy when price gets there? Hell no.

Later you go talk say professionals no dey find confirmation 😅.. Why are you not buying instantly at .2819 ..No be PA confirmation you dey find 😅😅... Na cruise ó my broda, No come for me Abeg

charly20:
https://cot-reports.com/wp-content/uploads/2023/07/7.-British-Pound-Sterling-Detailed-COT-Report-Version-2.png

Not really a fan of COT but you may want to look at commercials instead of non-commercials. That's where the pawprint of the big dogs are.

Increasing short positions since July started with an increase in open interest tells you something.

Las las na market go decide. All this things na grammar we dey speak for this side.

Participants on commodity exchanges are either dealing with physical coffee and
are hedging price risk (categorised as commercials in the COTs), or speculating
on price direction with no interaction with the physical commodity (i.e. noncommercials). Prices are strongly linked to the non-commercial (speculator)
position as these traders can move quickly and anticipate risks and shift positions
based on fundamental outlooks. Commercial participants also attempt to anticipate
price moves but have less flexibility to shift their buying and selling patterns.

Donsheddy:
Choi my head wan blow....
I no understand one thing for here...
You and Charly wan use grammar and analysis finish us 😭😭😭😭😭.....

Wetin I Know be say gu dey buy tomorrow...
Weekly candle go close bearish....
Then next week gu go selll massively and dxy go buy massively too....

Dxy monthly candle go attempt to close bullish or bearish small....

But Gu monthly go close bearish 😁😁😁....

E sha depend on how far wey gu bulls go push us tomorrow 😁😁😁😁😁😁

😂😂😂.... You cannot know yet wether GU will buy tommorow or not baba😂. The way you dey talk those things be like say the thing too sure for you .. Abeg no let overconfidence push you to open 5lots on that account oo.. Aldou I'm just more of bullish than bearish... Anything can happen... My risk management skill is what im very proud of now. I don't worry about being right or wrong anymore

Gu and Gold are having almost the same PA at the moment. So far this trendline also hasn't been strongly broken to the downside just that of GU. I will only be looking for buy opportunities.. Once broken, my bias will change. Keeping it very simple here and trading what I see and not what I feel

charly20:
1. USD is having a bullish week, may likely continue into next week too.

2. From my swing POV, week 3 (that is already ending sef) favours mostly one sided rallies. With weeks 2 and 3 doing rallies on both directions this month, it is likely going to consolidate next week which is also monthly close.

3. Going into the new month, I favour more bearish sentiment on ***/USD (seasonality, ), therefore any green candle may just be retracement to add more short positions.

4. GU had an accelerator this week (a red folder on Wednesday or so) making it the leading indicator between EU and GU. It is more likely to consolidate (refer to 2.). E suppose wait for EU to try "catch up".

This is just my "logical" opinion as to why I wouldn't risk a pip on the asset. You no really need to see my chart before you digest this one

Thanks for your input bro... Although

Looking at the commitment of traders here, I mean the big institutions and hedge funds, they have moved from 53k shorts to 111k longs which shows that the real market movers have shifted from shorts to long.

Plus the Dxy is current retesting a broken weekly resistant which might send dollar back into the mood..

Plus the H4 trendline is still point up with more than 3 touches which signals that the trend is still an uptrend and the current price is at a 0.618 fib retr. A double bottom with a broken neckline is what I will be waiting for when price gets to the Trendline then I go long

Plus a strong divergence on a 3hrs Tf on GU

infofirst:
Why are you scared of vawulence?
Which one b don't come for me.
Weekend is here boss mi
You called for it. We are going to give you hot and fresh
Vawulence warriors.. Over to una

Anybody taku mi, Takulaya 😂😂... I'm indaboski paouse... A lion.... Boss I no want vawulence oo 😂

Buying GU.... You guys should give us your trade alert with stops and target na 😅.. Which one is Buy EU, Buy GT... There's no point in telling us to sell or buy without telling us when to exit incase the trade fails... Ain't tagging or yabbing anyone😂... Pls dont come for me.... Tell me why you think I shouldn't buy GU with a chart and not just with words

ENetServices:
it's not bad to re-enter if it's part of your plan. As long as you've not exceeded your risk for that day and Ur bias hasn't change.

Btw why u go dey fight Wetin no fight u

Yeah cheif... And who say the market isn't fighting us. The market was created for traders to loose. It's a battlefield on its own so we have to learn to fight...In some games we only loose when we don't fight back and in some games we only loose when we fight back

Kaybee7000:
Lolz so so funny , avoid fighting back and always remember there is another day to trade ,the wise ones will understand m better bro

I no gree jare . Its no crime to give a one more try after we have confirmed it was a stop hunt... Just one more in my own opinion. Ive seen proffesionals do re-entry with double lots size after a stop loss hunt and they are heavily rewarded, expecially when you are a trend follower...Weve been scammed my brother. Why is the market always coming for our stop and going back to tp most times, they know we wont fight back. Fighting back comes a very little risk compared to the first risk we took.........

meshpips:
The dollar yen for my side was lovely.

I took two entries:

One from the 137.7X low and then added at 138.50

Held trade until 6pm local time and jejely collected my profit.

Beautiful one boss. The market set a trap and i fell into it. i saw a trendline break and another price action pattern as confirmation to go long. I traded the price action back forgetting the fact that the broken trendline might be retested. My SL should have been below the broken TL i guess. Your first entry was right at the point of the broken Tl retest. Thanks boss. Today is here to correct yesterdays err. We go again

haryodehjia:
I don't know your account size but your sl is too tight... If you are a swing trader make use of wide sl of at least 10pips to 15pips

Thanks man. It was a right stop placement looking at the previous price action of the pattern i traded. I place the SL below the low only to be safer but the market was smarter. it took out the lows and went extra miles within 3 mins only for it to close above the low on that particular Tf again. Then i knew it was a stop run, but i was busy fighting back at Gold stop hunt so i couldnt fight back on UJ. I think its a scam for them to tell us not to fight back at the market expecially when we have noticed the price always come to our SL and quickly run back to Tp most of the time. Well...It takes experince and strong knowledge to fight back but what ive noticed that figthting back will give a very low risk to high reward as we are placing the Sl just below the first Sl hunt low. ......I want my bosses in the house to critise my opinion ...Im still a learner

TradingGod:
normally every strategy get it limitation for this hustle that is why risk management triump over any strategy because you never can tell when your strategy might go against you

Yeah! Yeah!! Risk management is the Holy Grail

TradingGod:
why don't you try trading chart pattern as your plan B strategy

Chart pattern strategy is not hard to understand, neither is it hard to identify in the chart

We most times over analyzing the forex market there by making us confuse in the long run, besides no strategy guarantee 100% win rate which means that you can analysis with all your tools in your arsenal and the market direction will still go against you

So my brother that is why I will always recommend chart pattern strategy as a reliable Plan B for any trader who wants to add another strategy to his arsenal

Simplicity is key in trading and chart pattern strategy is the best bet for simplicity in trading 👌

I dey do chart pattern wella.. I love triangles and head & shoulder die.. I think it's still part of the test and retest strategy I mention early... Break of descending triangle, selling on retest.... False break is where the market get at me most of the times and most importantly stop hunt ...

Wetin dey occur 😂😂.... This club don blow account

OneMillionBTC:
For Elliot wave, maybe you were focusing on too many things at a time. Can you focus on trading just one of the waves ? Heads up, wave 3 is the easiest to trade. Wave 5 is the next .... I only trade wave 3 or wave 5. It took me a very long time to "perfect" it Sha, but it is paying off now .

For one more strong strategy to add.... You don't need it. Stick to one profitable trading system. It can make you all the money you will ever need from the market.

Thanks for your contribution....

OneMillionBTC:
Like..... 1. What is the general bias for the past 5 days. 2. Any serious news in the way? 3 Is my Stop loss too much if so avoid trade...I enter trades with small SL 4. Is the TP giving me good risk to reward ratio 5. Can you see wave 1 and 2 clearly as I trade either wave 3 or wave 5 on Elliot. I can get say 3/4 trades in a month as I swing trade. So you see, the 10 things are just to avoid speculative trading or assumptions.

.

Thanks for sharing boss. That Elliotwave strategy just too hard for me. I don learn am tire. The more I watch, the more confusing It gets. I need one more strong strategy to add to my break and retest strategy.

So this USDJPY go later hit my TP after stopping me out .... Wateva I sha know I will close the week in blues

OneMillionBTC:
When you understand your "one way" of trading and you make it simple enough that you aren't confused at any time.... Emotions are eliminated.

While many traders are making loses this week, I just hold my buy position on EJ, when ever the sells too much, I add more buys.... You know why? My simple trading system told me to buy since last week. I am not confused or emotional about my trades.

Infact, when EJ sold for a while this morning /afternoon.... I was just "sorrying" for people selling with hopes to hold for a long term. Dem go see minus 300 pips soon.

So, to overcome emotions... I have a list of about 10 things I look out before entering a trade. It is written down by my laptop. When all says Yes, I am good to enter. With a win rate of over 60% and a good risk to reward ratio per trade, I am good.

Wao.. A whole 10 things... Can you Pls share with us little... Trendline break? Retest? Pattern? Candlestick? coz to see 10 things as confirmation before opening a trade go take like one year to see one set up oo

Geovanni412:
There was news.

US core retail news

Nope... The move happened like an hour b4 the news

Donsheddy:
Gold people una dey try oh...
Only God know wetin i dey face with small gu....

My brother 😂.. That kind sharp and massive movement without any news get as he be. Both the pump and dump happened in less than 5 mins.. Risk management is the Holy Grail.

PIPSMARSHALL:
This fx get as e b.
News or no news market fit do anything anytime.
Pump and dump on gold without news.

PNL just dey dagger anyhow. I just dey imagine if no b dis yeye propfirm demo, if na real money, where I wan see d money back?
Lol. The patience to await confirmation is what I'm learning. Taking unnecessary loss is dangerous to my trading career.

You are not alone my brother. The stop hunt hit everyone hard. Thank God for risk management. We go Again bro

ENetServices:
I doubt professional traders wait for what we call confirmation.

Mo tún fò ooo

karkinase:
E be like no be only you oo

That's the fact bro.. The pair is very difficult to trade expecially for day traders. This was a screenshot from a video... Those pairs are laughing hard at that statement 😂

Englishisamust:
You should buying us30 when usd is bearish!!! 7 times out of 10 times when usd go bearish stock will rise, go and find out.

Even buyers get stopped out before the real move... I think the pair is for swing traders and not for day traders like me...

And how do you people trade us30 Abeg... This guys doesn't respect technicals most of the time. I was tempted to open a sell trade after the breakout of this descending trading and I'm glad I didn't open the position, it would have been straight to SL.. Well it's a counter trend trade sha, so I shouldn't blame the pair for my wrong analysis.... But still on still
Avoid Us30...

Donsheddy:
The policy never change sha ..
But im trying to be flexible today is as good as done...
H4 closing bullish means next h4 will push upward.... Trying to see if i can get a better entry

You can't place a trade just on that one condition bro, using ordinary just one candlestick closure as confirmation, at least we should have 2 or 3 reason before opening any position.. The H4 bullish candle on your broker platform might be an hanging man or hammer on another brokers platform... I stand to be corrected sire

Donsheddy:
Trade closed at entry we go again tomorrow

I'm glad you are now using BE.. You used to say it's either TP or SL, nothing like B.E before ... Nothing pains more than seeing a blue position turns into red expecially when it was a big blue... Tommorow we go again

Gold did me dirty at the first place.. I was stop hunted. Thank God I had the confidence to believe in my system so I reentered almost immediately and set a new SL... I would have been in pain seeing the sell rally after being stopped out...Although emotion didn't allow me to take full profit. I left in the middle of the party Tommorow we go again. I will be selling heavily as well

Donsheddy:
My weekend just got better 🙆‍♂️🕺🕺🕺

Congratulations bro 😘

infofirst:
This was my analysis for last week that I dropped over the weekend. What did I gain from it? Nothing. I was looking for retracement to buy. I never got it. Typical example of a trader being the problem.


This coming week. I am USD bullish. I am determined to be patient. Discipline and accept whatever the market gives me.


@Elliotwaveforec and @AK284 How una first week wit the prop account?
@OfficialP How market?
@dmahn.. Hopefully you will bounce back
@greatcheer what's up in your trading room too with the TFT challenge?

Thanks boss. The loosing streak has ended I guessed. Last week was very profitable.. I hope it continues into the new week😍