₦airaland Forum

If there is a pattern I enjoy watching out for, it is the ending diagonal or what many chart pattern traders call Wedge formation.
This pattern , apart from its ease to spot and reliability, it also gives an excellent risk reward ratio especially when it ends a correction like what we are having presently in the 1 hour chart of Gbpusd.
Since August 2014, the cable has been undergoing a very sloppy run of bearish movement.
Going by the daily chart, price could presently could have completed wave 3.
Due to the fact that wave 3 is expected to be a 161.8% fibo extension of wave 1, presently price is at 138.2% extension.

This shows that there could still be some room downside to complete what would probably be the last wave of the third wave before we have the last correction of the bearish impulsive move.
The price wave formation on the 1 hour chart strongly supports this count with a corrective zigzag formation ending with a clear ending diagonal.

price should take a dive to 1.4680 ( 161.8% extension of primary wave 1 and 127% extension of subsidiary wave 1)
I expect to sell from here as negative divergence formed on the daily chart further gives more confidence.
However the price moves, I will update you.

Get the analytical charts at www.forexsnipper..com

You can join my mailing list by forwarding your e-mail address to Forexmaster05@yahoo.com and get all my analysis and trade recommendations in pdf.

If there is a pattern I enjoy watching out for, it is the ending diagonal or what many chart pattern trader call Wedge formation.
This pattern , apart from its ease to spot and reliability, it also gives an excellent risk reward ratio especially when it ends a correction like what we are having presently in the 1 hour chart of Gbpusd.
Since August 2014, the cable has been undergoing a very sloppy run of bearish movement.
Going by the daily chart, price could presently could have completed wave 3.
Due to the fact that wave 3 is expected to be a 161.8% fibo extension of wave 1, presently price is at 138.2% extension.


This shows that there could still be some room downside to complete what would probably be the last wave of the third wave before we have the last correction of the bearish impulsive move.
The price wave formation on the 1 hour chart strongly supports this count with a corrective zigzag formation ending with a clear ending diagonal.



price should take a dive to 1.4680 ( 161.8% extension of primary wave 1 and 127% extension of subsidiary wave 1)
I expect to sell from here as negative divergence formed on the daily chart further gives more confidence.
However the price moves, I will update you.

Get the analytical charts at www.forexsnipper..com

You can join my mailing list by forwarding your e-mail address to Forexmaster05@yahoo.com and get all my analysis and trade recommendations in pdf.

deWav:
If u haven't received mail, just chill cos it is going to nter. Mine just did.
Dear Candidate,

You are invited to write an aptitude test for the role of Trainee Engineer with Nestoil Plc.

Details are as follows:

Venue: The Hardley Apartments
Plot 46, Waziri Ibrahim Crescent,
Off Elsie Femi Pearse Street, Off Adeola Odeku Street,
(By Corona Nursery & Primary School)
Victoria Island, Lagos

Date: Thursday, 19 February, 2015

Time: 11:30 A.M. prompt

You are expected to come along with a passport photograph, a copy of this invite, CV, copies of all your credentials and a Government-issued ID.

Please note that accreditation ends at 11.00 A.M.



Regards,
Recruitment Team

Please forward the message to me elytesammy@gmail.com... I will like to take a chance... Thank you

If there is a market that is affected by the international oil price , it is the usdcad. The current fall in oil price propelled Usdcad to a very high level, one that many people might not have seen.
From the economic point of view, united stated as the largest oil consumer in the world could afford to buy more than triple of oil with the same price. This has helped saved so much money and USD (United State dollar) has gained very significantly. Little wonder it strengthened over almost all major currencies.
Also, the greatest strength of the USD was clearly seen against the CAD (Canadian dollar) as the later weakened even on its own.
Canada are not only US’s closest neighbor, but the largest supplier of oil to the US economy and this business relationship is fostered greatly by the price of oil.
When Oil rises in value, Canada laughs while the US frowns .When it dips in value, the reverse is the case.
This singular act has brought about a negative correlation model between the Oil market and the UsdCad market and that’s why in the last 6-7 months while Oil price dipped, the Usdcad was soaring and breaking more resistive levels.
At the beginning of this year, I posted an article on my blog about my view on the movement of Usdcad from the technical point of view. You can read here http://forexsnipper..com/2015/01/usdcad-analysis-for-2015.html
I forecast a probable reversal at 1.1890-1.1920 but the strength of the Usdcad was so powerful that this important resistive region was broken with ease and price now sits comfortably above 1.2500.
I will continue from that analysis
On the weekly chart, what we are currently having is a flat corrective pattern which is completing at a strong resistance. The 5th wave of the C leg ( an impulsive 5-wave move) is formed at 1.618 projection of the 1st wave from the 4th wave. The flat pattern is also resting at a 50% retracement of the super wave {1}. If this analysis holds, we should expect a big dip in the price of Usdcad from wave {2}and probably Oil price will rise in the first half of this year.
A bearish candles formation and momentum divergence at a strong resistance on the weekly chart are early signs of bullish weakness
From the intraday point of view, price has started showing some bearish commitment, in a correcting channel after forming an impulsive 1st wave. If the channel is broken downward, we should expect price at 1.1500 and below. If the channel is broken upside and price eventually breaks 1.2800, we could see more bullish move. The intraday channel thereby becomes the action zone.
Market geometry involves contraction and extension, we expect one after the other.
Patience is needed as we decipher what could be the next big move!….Don’t miss it.

Get the full anaytical charts of this analysis at www.forexsnipper..com

Usdcad

If there is a market that is affected by the international oil price , it is the usdcad. The current fall in oil price propelled Usdcad to a very high level, one that many people might not have seen.
From the economic point of view, united stated as the largest oil consumer in the world could afford to buy more than triple of oil with the same price. This has helped saved so much money and USD (United State dollar) has gained very significantly. Little wonder it strengthened over almost all major currencies.
Also, the greatest strength of the USD was clearly seen against the CAD (Canadian dollar) as the later weakened even on its own.
Canada are not only US’s closest neighbor, but the largest supplier of oil to the US economy and this business relationship is fostered greatly by the price of oil.
When Oil rises in value, Canada laughs while the US frowns .When it dips in value, the reverse is the case.
This singular act has brought about a negative correlation model between the Oil market and the UsdCad market and that’s why in the last 6-7 months while Oil price dipped, the Usdcad was soaring and breaking more resistive levels.
At the beginning of this year, I posted an article on my blog about my view on the movement of Usdcad from the technical point of view. You can read here http://forexsnipper..com/2015/01/usdcad-analysis-for-2015.html
I forecast a probable reversal at 1.1890-1.1920 but the strength of the Usdcad was so powerful that this important resistive region was broken with ease and price now sits comfortably above 1.2500.
I will continue from that analysis
On the weekly chart, what we are currently having is a flat corrective pattern which is completing at a strong resistance. The 5th wave of the C leg ( an impulsive 5-wave move) is formed at 1.618 projection of the 1st wave from the 4th wave. The flat pattern is also resting at a 50% retracement of the super wave {1}. If this analysis holds, we should expect a big dip in the price of Usdcad from wave {2}and probably Oil price will rise in the first half of this year.
A bearish candles formation and momentum divergence at a strong resistance on the weekly chart are early signs of bullish weakness
From the intraday point of view, price has started showing some bearish commitment, in a correcting channel after forming an impulsive 1st wave. If the channel is broken downward, we should expect price at 1.1500 and below. If the channel is broken upside and price eventually breaks 1.2800, we could see more bullish move. The intraday channel thereby becomes the action zone.
Market geometry involves contraction and extension, we expect one after the other.
Patience is needed as we decipher what could be the next big move!….Don’t miss it.

Get all the analytical charts at www.forexsnipper..com

"I'm not going to lose. So, I won't answer that question."

"I have visited 34 states so far. In each of the states there are three things that are consistent, that are fundamental issues to this country -- insecurity, the destruction of the economy and corruption," he said.

"Every Nigerian is feeling worried."

-- No iron fist? --

"The first thing we will do is to make sure there is efficient utilisation of resources. If money is voted for equipment and training, that money will go to equipment and training," he added.


"I believe the most serious thing to do is to draw a line, that you intend to move forward,"

"From the day we are sworn in as a government, anybody who abuses trust will be called to account," he added.

Nigeria's main opposition candidate Muhammadu Buhari on Friday told AFP he was expecting to win next week's presidential election by a wide margin, despite talk of a close race
The February 14 poll, in which he is challenging incumbent Goodluck Jonathan, has been seen as too close to call, leading to a possible run-off if neither man secures a first-round majority.
But Buhari, 72, dismissed the suggestion of a tight race, saying in an interview: "What's their reason for 'too close to call'? What is their speculation on? I'm expecting a landslide victory."

The former army general, who led a military government for 20 months after seizing power in December 1983, has stood unsuccessfully for the presidency three times in the last 16 years

On each occasion (2003, 2007, 2011), he alleged electoral foul-play.

But asked if he would accept defeat this time around, the All Progressives Congress (APC) candidate stated: "I'm not going to lose. So, I won't answer that question."
Nigeria's main opposition is considered as having its best chance yet of ending the Peoples Democratic Party's (PDP) unbroken run in power since the country returned to civilian rule in 1999.

Buhari, who was noted for his hardline approach to indiscipline and corruption during his time in power, has been touted as the answer to Nigeria's lengthy list of problems.
The PDP has sought to portray Buhari as yesterday's man with dangerous, outdated ideas but he asserted that Africa's most populous nation and leading economy was ready for change.

"I have visited 34 states so far. In each of the states there are three things that are consistent, that are fundamental issues to this country -- insecurity, the destruction of the economy and corruption," he said.

"Every Nigerian is feeling worried."

-- No iron fist? --

Buhari rejected claims from the ruling party that he would rule again with an iron fist, saying the circumstances under a military regime were different from a civilian administration.

Multi-party democracy and the three tiers of government, enshrined in the constitution, had to be respected, with consequences for anyone acting outside the system, he said.
The APC has portrayed President Jonathan as weak on security and of being unable -- some say unwilling -- to end the Boko Haram insurgency in the northeast.

Some soldiers have complained that they lack the weapons and even bullets to fight the better-armed militants, despite defence spending accounting for some 20 percent of the federal budget.

Buhari said that if elected, his administration would "empower the law enforcement agencies to be much more efficient".

"The first thing we will do is to make sure there is efficient utilisation of resources. If money is voted for equipment and training, that money will go to equipment and training," he added.

The APC has claimed that Jonathan has failed to tackle endemic graft and Buhari said corruption was practically "a culture" in the country.

"I believe the most serious thing to do is to draw a line, that you intend to move forward," he said but added that investigating every allegation of corruption would be a hindrance to progress.

"From the day we are sworn in as a government, anybody who abuses trust will be called to account," he added.

source: Yahoo

For those of you that have through me or any other medium loved or gotten interest in elliot waves methodology....I will start lectures soon here on nairaland and on my blog ( www.forexsnipper..com )

I just need participation now.....

Thanks

stolenstone:
I am an avid follower and we have been wondering where you hibernated to? So glad to have u back

was trying to complete a professional course so i had to leave forex a while...i even uninstall mt4 so that i can concentrate...I am back
I saw the chf surge...it was very massive..I havent seen such before

Please i need full participation and comments now

To all my followers here..I have been out for some times now...I will be back shortly

How has everyone been...i dont know if someone is still foloowing

I want your comments and contributions
Thanks

I will come back shortly for analysis on usdcad, gold, gbpaud and others

Men balon d or ... Winner ... Cristiano ronaldo... Congrats cr7

Gbpaud Analysis.

I would not want to bore you with the long term analysis of this pair. What I know now is that an intraday corrective pattern is forming and I have forecasted what price could do to this effect.
In the 4 hour chart below, we could see an emergence of an impulsive wave. Let’s see if we can follow price as it tells us what to do next. The first wave followed by the second corrective zigzag wave with about 50% fibo retracement. Price broke above the end of wave 1 which is a clear indication that price is searching for where to rest the third wave of the prospective bullish impulsive move.
In the quest to gather momentum to achieve this, price has moved above the first wave and it’s now moving toward the once resistance region that has now turned support. The third wave normally is a 161.8% projection of wave 1 taken from the end of wave 2, this will happen at 2.025. For this reason, I see the recent bearish correction as the fourth wave of the impulsve wave 3 of the primary trend.
Zooming down to the 1hour chart to see the emerging corrective pattern more clearly so as to forecast possible region of reversal. In the 1 hour chart below, price has a probability of forming a double zigzag pattern which could end at 1.8800-1.8760 or 1.8600 -1.8650. The former has been tested once and if broken again, we watch for the latter where we will wait for reversal signal to buy and aim profits as price could be on its way to 2.025 in the long run. If price doesn’t get to these regions, and rallies up to break the upper channel line, one can also buy and aim high. The former is aggressive with very high reward potentials while the latter is conservative with lower reward potential.
If price conversely breaks below 1.8650 in high momentum with no sign of reversal, the proposed impulsive move is invalidated and the move would be taken as an end of a zigzag ‘ABC’ corrective pattern with ‘C’ 100% extension of ‘A’ from ‘B’. I will update you if the scenario holds.
You can get a regular pdf update of my analysis in your mail box by subscribing to my mailing list. Just send your request to Forexmaster05@yahoo.com.

Gbpaud long and medium term analysis.

I would not want to bore you with the long term analysis of this pair. What I know now is that an intraday corrective pattern is forming and I have forecasted what price could do to this effect.
In the 4 hour chart below, we could see an emergence of an impulsive wave. Let’s see if we can follow price as it tells us what to do next. The first wave followed by the second corrective zigzag wave with about 50% fibo retracement. Price broke above the end of wave 1 which is a clear indication that price is searching for where to rest the third wave of the prospective bullish impulsive move.
In the quest to gather momentum to achieve this, price has moved above the first wave and it’s now moving toward the once resistance region that has now turned support. The third wave normally is a 161.8% projection of wave 1 taken from the end of wave 2, this will happen at 2.025. For this reason, I see the recent bearish correction as the fourth wave of the impulsve wave 3 of the primary trend.
Zooming down to the 1hour chart to see the emerging corrective pattern more clearly so as to forecast possible region of reversal. In the 1 hour chart below, price has a probability of forming a double zigzag pattern which could end at 1.8800-1.8760 or 1.8600 -1.8650. The former has been tested once and if broken again, we watch for the latter where we will wait for reversal signal to buy and aim profits as price could be on its way to 2.025 in the long run. If price doesn’t get to these regions, and rallies up to break the upper channel line, one can also buy and aim high. The former is aggressive with very high reward potentials while the latter is conservative with lower reward potential.
If price conversely breaks below 1.8650 in high momentum with no sign of reversal, the proposed impulsive move is invalidated and the move would be taken as an end of a zigzag ‘ABC’ corrective pattern with ‘C’ 100% extension of ‘A’ from ‘B’. I will update you if the scenario holds.
You can get a regular pdf update of my analysis in your mail box by subscribing to my mailing list. Just send your request to Forexmaster05@yahoo.com.

Welcome to 2015 everyone.
This year is going to be different and special. I will put analysis, step-by-step elliot wave analysis and weekend review on pdf.
If you subscribed to my mailing list, please check your mail. I have sent 2015 long term analysis of eurusd and usdcad to you in pdf. You can download and dissect. Let me know if they help you

If you want to be in my mailing list, send a request to forexmaster05@yahoo.com

Let's make 2015 a profitable year.

Analysis on usdcad and eurusd have been posted on www.forexsnipper..com .... I would have loved to put them here, but they are too long . Check them out

Welcome to 2015 everyone.
This year is going to be different and special. I will put analysis, step-by-step elliot wave analysis and weekend review on pdf.
If you subscribed to my mailing list, please check your mail. I have sent 2015 long term analysis of eurusd and usdcad to you in pdf. You can download and dissect. Let me know if they help you

If you want to be in my mailing list, send a request to forexmaster05@yahoo.com

NB: Your email privacy, it wont be sold or spammed

Let's make 2015 a profitable year.

Analysis on usdcad and eurusd have been posted on www.forexsnipper..com .... I would have loved to put them here, but they are too long . Check them out

Meanwhile, I have posted analysis on Usdcad and Eurusd on my blog.. www.forexsnipper..com
Check it out

Welcome to 2015 everyone. I thank many of you here who have followed secretly. I really need comments and encouragement.
This year is going to be different and special. I will put analysis, step-by-step elliot wave analysis and weekend review on pdf.
If you subscribed to my mailing list, please check your mail. I have sent 2015 long term analysis of eurusd and usdcad to you in pdf. You can download and dissect. Let me know if they help you

If you want to be in my mailing list, send a request to forexmaster05@yahoo.com

NB: Your email privacy, it wont be sold or spammed

Let's make 2015 a profitable year.








I wish you the best in 2015

Usdcad fulfilling the bullish potential as speculated. This could be its next move for the first half of next year....check the full analysis at www.forexsnipper..com

Usdcad fulfilling the bullish potential as speculated. This could be its next move for the first half of next year....check the full analysis at www.forexsnipper..com

On 21st November, I saw a need for more bearish move of the Eurusd. The basis of this analysis is the continuation of the terminating fifth wave of the last swing-leg of the bearish corrective triangle which started in 2008.
According to my various projection tools, I saw a possibility of 1.2150 and 1.8850 support zones . I went out of my trades with 180 pips at 1.2280
There is a strong possibility for further bearish push before the long awaited rally could start.
Presently on the 4 hour chart, price seems to complete the 4th wave of an ending diagonal to terminate the 5th wave in a grand style.
With bullish divergence on the daily chart, I can only think of a bullish move. If the 5th wave of the diagonal dips further with a three-wave intra day drive, there could be an opportunity to take a nice trade with a very good risk reward ratio.
While I wait, let me enjoy my Gold

Check www.forexsnipper..com for break down analysis with analytical charts

On 21st November, I saw a need for more bearish move of the Eurusd. The basis of this analysis is the continuation of the terminating fifth wave of the last swing-leg of the bearish corrective triangle which started in 2008.
According to my various projection tools, I saw a possibility of 1.2150 and 1.8850 support zones . I went out of my trades with 180 pips at 1.2280
There is a strong possibility for further bearish push before the long awaited rally could start.
Presently on the 4 hour chart, price seems to complete the 4th wave of an ending diagonal to terminate the 5th wave in a grand style.
With bullish divergence on the daily chart, I can only think of a bullish move. If the 5th wave of the diagonal dips further with a three-wave intra day drive, there could be an opportunity to take a nice trade with a very good risk reward ratio.
While I wait, let me enjoy my Gold

Check www.forexsnipper..com for break down analysis with analytical charts

Updates on Eurusd , Usdcad, Gold has been posted...Check it out... www.forexsnipper..com

Riding Eurusd...I posted the analysis here on this thread....

The Gold market surprised me yesterday>.>..... I was expecting to ride 1000pips..but after cashing out 500pips of half of my position, the surge began and hit the other half at Break even......I am coming with analysis soon.


Now I am riding Usdcad and Eurusd....hopefully they will last longer than Gold.....

I am also watching Gbpchf


Expect the Gbpchf and Gold analysis soon.


Meanwhile I have posted the intra day analysis of Usdcad and Eurusd on www.forexsnipper..com ....there is a lot to learn from that blog...Try to bookmark it

Usdcad ride...has it begun?

www.forexsnipper..com

MikkeyJ:
Bro i bought usdcad nd sold gold yesterday.

Ok...good to know that... Hope the rocking will continue this week with eurusd fall.... Forex is sweet mehn

Abeg o.... Who is rocking usdcad and gold.....

elyte:
If you want a comprehensive analysis on Usdcad, you can read the one I did on 20th of this month ( http://forexsnipper..com/2014/11/the-new-state-of-usdcad.html ). The analysis supports a bullish move.
The recent bearish movement we had ( if completed) is a bearish complex correction and I expect Usdcad to rake high to 1.1850 ( more than 500pips away) in a new bullish motive wave.

Coupled with the fact that Usdcad has a very strong negative correlation with Oil price which is dipping so fast, I won’t be surprised if the move is very fast to the north.

I will wait for an intraday retracement to 1.1310 before the long bullish adventure on Usdcad

Meanwhile, I have a new wave count which doesn’t contradict my bullish bias

Now Usdcad is moving to the north very fast, responding to the oil price fall......let's see if there will be a retracement

If you want a comprehensive analysis on Usdcad, you can read the one I did on 20th of this month ( http://forexsnipper..com/2014/11/the-new-state-of-usdcad.html ). The analysis supports a bullish move.
The recent bearish movement we had ( if completed) is a bearish complex correction and I expect Usdcad to rake high to 1.1850 ( more than 500pips away) in a new bullish motive wave.

Coupled with the fact that Usdcad has a very strong negative correlation with Oil price which is dipping so fast, I won’t be surprised if the move is very fast to the north.

I will wait for an intraday retracement to 1.1310 before the long bullish adventure on Usdcad

Meanwhile, I have a new wave count which doesn’t contradict my bullish bias

If you want a comprehensive analysis on Usdcad, you can read the one I did on 20th of this month ( http://forexsnipper..com/2014/11/the-new-state-of-usdcad.html ). The analysis supports a bullish move.
The recent bearish movement we had ( if completed) is a bearish complex correction and I expect Usdcad to rake high to 1.1850 ( more than 500pips away) in a new bullish motive wave.

Coupled with the fact that Usdcad has a very strong negative correlation with Oil price which is dipping so fast, I won’t be surprised if the move is very fast to the north.

I will wait for an intraday retracement to 1.1310 before the long bullish adventure on Usdcad

Meanwhile, I have a new wave count which doesn’t contradict my bullish bias

Hmmmm.... It has never been all rosy in this business... But I am above the averages...I am getting close to the experts stage gradually after locking myself behind the walls to study the system I chose...( elliot waves and pattern strategies) . Great understanding of a profitable system with discipline,sound money management, persistence and logic will make you win.

Winning Logic is when you win more times than you lose or earn more in winning than in losing REPEATEDLY....... If one can get it right there.....then he is above the averages








Having the understanding that it won't be all rosy keeps me at bay and makes me want to go on....learning......trading ...........learning................trading..................

On Eurusd

On 21st November, I did an analysis on Eurusd, when I discussed about an expected move of Eurusd down to the support zone ( 1.2150 and 1.8850) if the intraday zigzag channel is broken downward.
Price broke the channel mentioned above and is presently retracing to the neckline of the channel or ( 50% retacament of the intraday wave 3 to resume the bearish move to the expected zone before deciding what to do next.
If the present retracement happens to break 1.2600 upward, the bearish analysis is invalid
I presently have my pending sell position at 50% retracement of the most recent intraday bearish move

You can get analytical charts on Eurusd and the new update on Gold ( an emerging ending diagonal) with analytical charts at www.forexsnipper..com

Don't forget Usdcad.....Analysis coming shortly....