₦airaland Forum

Kingsteve:
Ok then...I'll wait for the 14k fall.
But bear in mind, for the past two weeks, you've been talking about this fall.

I think for more clarity, especially for those who intend to day trade, your analysis should be more specific.

A day trader waiting for price to hit this redline since last two weeks you talked about this fall, would have missed so many trading opportunities by now.

My analysis isn't for day traders but for swingers.

Kingsteve:
In summary, from your BTC chart analysis, the fall will start once it hits the 24.6k resistance, which you refer to as the redline
Let's watch...

You said you don't fo support and resistance?
How can you not do it?
What is a sound TA without S & R?

Elliotwave analysis encompasses all.

24.6 has been rejected already; don't go and buy hoping it will get there o

Kingsteve:
If my memory serves me right, you've been predicting this 14k price drop since last week or two weeks ago.

But the bulls keep shocking you, and attaining ATHs.
Could you please be more explicit as at when this drop will happen?

This week, next week?
At what resistance?
I'm curious!

MODIFIED: Looking at the BTC chart you shared, I noticed your analysis is based on the H4 timeframe.
My question...how can you predict future price direction of BTC using H4?
H4 is strictly for intraday trading.
Care to explain?

This current move may cap below the trend line. So buyers, watch it.

Kingsteve:
If my memory serves me right, you've been predicting this 14k price drop since last week or two weeks ago.

But the bulls keep shocking you, and attaining ATHs.
Could you please be more explicit as at when this drop will happen?

This week, next week?
At what resistance?
I'm curious!

I count waves, I don't do resistance or support; sometimes, wave extremes do coincide with S and R.

Currently, on the daily chart, 4th wave should not surpass the red line. Price has already respected the line; hence the beginning of the 5th wave to surpass 17572.

I count with higher TFs from daily to monthly; so, you won't see the results now.

TA or FA, BTC goes south.

14K SL 24700

Head and shoulders formed already

Goke7:
Obi may be a casual staff in arise tv with the way he's readily available for any interview there

The station is pro-Obi; he should be one of the shareholders of the station. It's my favourite TV station.

OkpaNsukkaisBae:
transmit to national grid kee u dia.

They're changing that now, that's what the bill is taking care of.

Note: 'What's obtainable now' is being changed.

[quote author=integrity16 post=114973579][/quote]As it affects the common man.

The best bill passed by the Senate. Thumbs up!

ECB raises rates higher than forecast

crazymommy:
Oh you know you are spamming with the nonsense scams you are posting yet you continue to do it ?? Truly you are sick in the head...GET OUT

You're really a crazy mommy; I'd call you a lunatic.

ugo41babe:
Are you sure about this. Is the sharp downtrend not as a result of the Tesla news?

The analysis was posted before the the Tesla news; a retracement may happen as markets don't move in a straight line.

Elliotwaveforec:
Not yet, one more leg down; this corrective move will cap below the red line 24653 and break the support of 17572.

14000 is sure.

This TA is worth a $1m. TA is king! The journey to 14K has begun.

She wants you to the hard work so that her suitor will not labour much.

Innomama7:
please is this period bull market or is a trap

It's a trap! It's capping below the red line. If it crosses the line, then the count becomes invalid and the buy continues.

Elliotwaveforec:
Not yet, one more leg down; this corrective move will cap below the red line 24653 and break the support of 17572.

14000 is sure.

Getting close to the red line; if you're holding, start getting out gradually.

showafrica:
The only hope remaining now is Obi but six months still far sha

Stingy Obi that's pro-tightening? We need massive easing (Tinubunomics).

Vanzcharles:
Bro so many things causes inflation, should I school you on this now?
But that would be unnecessary, I would prefer schooling you on interest rate importance in the economy.
Interest rate

❗❗
Interest rates are the most important tool
central banks have and they are used to in
fluency lending and savings and borrowing or
consumption.
Ahigher interest rate incentivizes investment
and saving,since people will get more interest
on their deposits and receive more in interest
payments when borrowing to others.
However,a lower rate of interest incentivizes
borrowing and consumption,since it is cheaper to borrow money for that new car or house someone has always wanted.

❗❗The rate of interest also affects the
flow of money across borders. For example,suppose interest rates in the UK
are 2 percentages while in Germany they are 5
percent.People with savings in the bank
would move their money into German
banks to get a higher rate of interest,in
effect,selling their pounds and buying
euros.Therefore,changes in the interest
rate are high impact events for exchange
rates.❗❗
Also,monetary policy announcements are
made regularly by the major central banks
and if you think the interest rate will be low
or higher than expected,the you can trade
that currency and take advantage of the play
Volatility following these announcements.
You can still use "google" to get more information if you are still ignorant about it.

I'm a fundamental analyst, I know all these; I asked you a straight question what causes inflation in Nigeria at present, you're quoting textbook.

Since you're beating about the bush without giving me the simple answer, let me help you. High Exchange rate I e Naira depreciation is the number one cause of inflation in our country not too much money in circulation. The CBN thinks iour nflation is caused by excess money hence the hike in rates.

just2endowed:
If the develop world raise a decimal digits in their rate, it will discourage foreign direct investment in developing nation like Nigeria. Hence, developing nations has to calculate this foreign investment risk and hike their rate too

This CBN is just there to make the rich richer and the poor poorer; and also to boost the profits of banks. Banks would simply lodge their monies with the CBN and earn interest without lifting a finger; the same applies to politicians who've stolen money in billions to invest in gilt-edged securities and go to sleep instead of using the same money to set up an industry and employ people.

If youre justifying the hike to attract foreign investments, the money foreigners are bringing are only invested in the financial sector not real sector, for speculative purposes; so, it adds nothing to the economy.

Vanzcharles:
Nawa o, so many ignorant people. Interest rate increase helps to curb inflation. I am not pro buhari but I understand forex to a point and its advantage to the country's economy.

Dey there dey follow book, look am and use your sense.... Fela Kuti.

Can you tell me what causes Nigeria's inflation?

Mumu CBN, raising interest in a developing Ecinomy. Has the rate hike solved to ge problem of inflation? For God's sake, developing economies should make money available to individuals and companies to achieve developnent first, then tackle inflation.

Our inflation isn't even caused by excess monies in circulation; it's caused by high exchange rate since the useless CBN is killing industries by raising rates.

Tinubunomics is the answer; negative interest rate is the way; ECB did it and it worked just to bring the economy back to life.

Developing countries are just joining the bandwagons by raising rates like the developed world. Are their Apex banks brainless or what?

That poor state that depends on Abuja for everything? A state that can't fight to keep the gold money from Ilesa to itself like Zamfara has done. Wike should come and rule the state jare.

QuickFunding:
I ll advise you take profit and re enter again at the low..

TP hit already

QuickFunding:
Should gold proceed to 1820

Buy XAUusd 1820 - 1825
TP1 1730
TP2 1735
TP3 1740
Tp41745

Sl 1710

My number is still available if you trade or check and like what I do. God's blessings

Seconded! I entered earlier.

Omo, I poor for biology sha, I thought it's two.

God separated all! Urine, faeces and birth; men don't give birth that's why we have two.

Don't play with anything 3, e.g alligator pepper, coconut, three-part kolanuts etc.

I'll be going solar soon.

9jii:
They are selling Obi just as them do fake products, with lies and deceit. God will shame them like always.

Everything about them is fake.

LegendHero:
That Obi Pandora is a killer. He sponsored IPOB terrorists and now they are going against his votes source in the SE.

Whenever IPOB terrorist burn INEC offices as at last year, their supporters applaud them chanting the zoo must go down.

Now that IPOB supporters are now Obituary supporters, they will not like this and start blaming an imaginary opponent for this incident.

As for me, I will never vote a terrorist as my president!

You're very observant! Obi is equal to Unknown gunmen and IPOB; he's a deadly gentleman.

Kingsteve:
To be honest with you, I don't know about institutional traders, but what I know is that TA is a prerequisite for traders.

About what you explained...
Well, any serious minded trader who takes FA seriously, ought to know the CPI would be higher than the previous one which was at 8.6%
But it was expected to increase to 8.8% or thereabouts.
However, it shocked everyone and increased to 9.1%, highest in 41 years, which caused the markets to crash almost immediately the results were out.

Traders are usually speculative.
So what most advanced traders did before the results were out, was to short the expected negative results since the beginning of the week, which we all experienced.

When the CPI numbers finally came out, the results were worse than expected, which sent the markets tumbling to new lows.

The new support at 18k weathered the storm, which prompted traders to buy low, and that is why BTC is on the up once again.

I expected all of these to play out...no surprises!
TA is primary, while FA secondary...in my opinion though!

Correct! TA is king.

Ddeliverer007:
Only Yoruba Muslims would vote for baba chicago

I'm a Yoruba Christian and I am voting BAT; Yoruba first before religions.

charly20:
Not trading gold anytime soon but it has all the workings of a wave 4.

1680 is a very important area to watch.

@Elliotwaveforec, am i counting right?

Wave 4 correction to cap below 1813.52 first on daily chart; SL below 1707. It's not going to be a straight-line move; a pullback towards the support 1707 before the big move.

League of labourers aka Obi supporters.