₦airaland Forum

Access
- prev -ve div sig buyers exhaustion
- SP pulling back to the 200 dma on d daily, RSI breaking into oversold levels in over a yr
- strong rejection of d day low on vol
- a very important pin bar on volume yesterday at d 200dma
- not a buy / sell / hold recommendation

#dyorr

fxuser:
the longer the time frame , the more the ''potency'' but it's never immediate
on d other side , a positive div on d lower time frame helps to show bearish fatigue in d short term

Index still unable to bounce back above the 50dma but above 200dma
More sideways action to come !

robobo:
@fxuser

which of the time horizon negative divergence do you think is more potent

Daily? weekly? or monthly?

learning ooo

the longer the time frame , the more the ''potency'' but it's never immediate
on d other side , a positive div on d lower time frame helps to show bearish fatigue in d short term

PFA
https://twitter.com/BusinessDayNg/status/975649218915389440

(mentioned prev)

Blessed wk folks

RabbiDoracle:
You don't understand my question.
Have you asked yourself why overbought line (high line) is 70 and not 80 or 90 and oversold line (low line) is 30 and not 20 or 10?
Should RSI overbought and oversold lines be the same(30/70) for all stock?
Adjusting these lines means you need to understand why the inventor of RSI used 30 and 70 and 50 for neutral line.

You don't understand my question.
- ok

Have you asked yourself why overbought line (high line) is 70 and not 80 or 90 and oversold line (low line) is 30 and not 20 or 10?
- yes

Should RSI overbought and oversold lines be the same(30/70) for all stock?
- No , u can adjust d default setting and period to suit you. I'm sure u may hv read J.Welles Wilder book on new concepts in tech trading or John Murphy's (pg 239)

Adjusting these lines means you need to understand why the inventor of RSI used 30 and 70 and 50 for neutral line.[/quote]- yes

Hope i this answers ur question.

a blessed and fruitful wk ahead to us all !

Cadillac15:
Had the opportunity of selling at 13.6 but changed my mind. Its the risk inherent in my trades and its my money.

Good thing is if access falls to N7, i will still be in a very good position compared to my opening balance as at jan 1st. So not angry at all.

If only you are opportuned to see my trade sheet, you will understand. If i had sold access at 13.6, i would have made 5M+. But just like i refused to sell DF when you were all making noise, i have made up my mind to see the result b4 selling and so be it.

this has been the worst week for banking index in 2 years
the last time the index lost over 8% in 1 week was first week of Jan 2016 (wen oil crashed to ard $30)
it started from that zenith huge volume sell off

currentprice:
fx is a tech man, a tech man can even buy japauoil when chart show him breakout

loll

Agbalowomeri:
You be real clown. I tranfer my title to you

lolx
he wont kee me ooh

um!
what do i know self.
interesting days ahead.
more patience.
and many more.

#chai
lolxx

wanaj0:
They should stop making noise. Why will any reasonable person invest 'long term' in Nigeria when he can make some quick money?
Let them continue to frown! An stupid restriction will see the economy tank!

we wud hear more noise wen d reserves hit $50 bln lolx

RabbiDoracle:
Why 50?

Why not 30 or 60?

Can't you postulate your own?

Weekly 50 RSI is like a neutral line
SP behaves differently wen above and below
Wen above 70 , SP keeps making new highs
Wen below 30 , Sp keeps making new low
and be be lo

mendes911:
Sorry for barging on you oooo. I know you have a plan and you are trading that plan but what's really your expectation re.. Transcorp?

Q3 ain't that rossy and NBET is owning Genco's up and down. I also know one or two about their debt. Is this gut trading or you already have facts behind the koko?

Maybe they might get to buy one of these power stations been flaunted by FG....

umm a lot of ''maybe's'' u mentioned
we hv fair value guru's in d house , i simply ff trend , price and volume
its bearish like most stocks also and in fact when weekly RSI's start breaking below 50 levels , its even more caution
price may drop further dis week, same for most stocks esp d banks
dis week sell off took weekly closure to an 8 week low ..
plenty red flags in d market , we may see lower

IchimokuPilot:
This got me cracking....
Fxuser has not lost anything.
Bet me, the lessons he will get by looking back will be priceless.
His systems will be improved.
As a real TA guy, one of his most important priority will be to trade better and a little fees like this will be appreciated by him. As he is far from a loss position, especially as he ALWAYS emphasize position sizing that keeps deep draw downs at bay....

arrgh
Position sizing
we need to discuss this a little more so we can all afford to be wrong but never be out
i tried to explain how this is calculated some months back but didn't get any mileage
very key sir

IchimokuPilot:
I now know why some traders print out charts.
In the beginning, I used to feel investing. Com changed the charts after my entry.
I later started keeping charts on all timeframe on the day of purchase.
I was shocked at how my emotions were interpreting the charts I was personally printing.

nice one
i save dem with dates on d site with notes and all
u can bring them up anytime u want

mendes911:
That Fidelity's ₦3.00 support was something else. It was too good to be ignored. Got a lot of people in, not just you alone. That's where the dumping started from.

What about your Transcorp?

um Transcorp
been adding little more btw N2 to 1.90 oh ... taking my avg cost up to 1.44 to 1.50 on different accounts
the yeye just pulled back further on some kind of low vol
very bearish posture , hv to hang on , because the volume traded are very low .. even d bids were very low

Trading Pull backs

D further price drops below ur entry, d more emotional pressure for a reaction
Without any guiding rules , ur in for an emotional roller coaster ride

fxuser:
taking back more of dat jan gains

Top 10 Price declines

Japaul -30.93%
Fidelity -22.48%
Unity -21.51%
AfriPrud -20.20%
Lasaco -18%
Wema -18%
ThomasWyatt -16%
UCap -15.8%
Nascon -15.4%


massive double digit drops ! ! Very angry bear

Agbalowomeri:
Index trading at 9week low

taking back more of dat jan gains

Yayira:
CP
FXuser
Pa Emma
Agba

I’m officially out of the market now, so all of you can rest now till I enter again and continue to bombard y’all with questions.
Thanks a lot for all the advice

super risk management move , good reaction . kudos madam
i'm also at my highest cash level since dec also
anyway , this is d worst weekly performance for bank Index. Week to date is a massive -8.35% (massive weekly red engulfing candle)
Personally , got my first humble pie, fidelity holdings was bady out of position wt an avg cost of ard N3 ..
i dont know how to avg down , i chop my humble pie without fuss (blame d itchy finger issues later)
every market likes to serve humble pies ard every now and den (crypto community de chop am back to back dis yr lolx)
dis sell off is likely to continue into the new week ..
opportunities will present themselves again , we wud patiently wait and not be drawn into chasing them lol


Key reminder to Self:
Never ignore negative divergences

Mpeace:
When I become president, na you gi be my minister of info. You sabi dodge stone wella.
As president, any kweshion wey them ask me I go just say: Pls Ask my info minister.

no probs boss !
lolx

DeRuggedProf:
The market is only offering a refresher course.....
At a point, we threw away all tested market axioms...

- prices breaking down into d kumo umm, some breaking beolow d cloud umm
- gaps downs are dangerous, hope is worse
- it's a spectators mkt for me
- some relief bounce needed today
- traders dat want to be right shud be careful out there
- i like to be wrong early
- ohhh fidelity , my itchy fingers lollx


#cautionFolks
#TGIF

robobo:
@fxuser
chief wld appr8 ur response to above
thank you

hey chief
Not privy to details.

RabbiDoracle:
Nobody dey ring bell anymore.

gbaghaun gbaghun

wat a day !

DOLLARTEX:
zenithhhhhh my body dey shake!

huge vol again ! a very big boi profit taking

FBN
- d defense came prepared today
- dis bears will be back tomorrow
- maybe others will prepare

Agbalowomeri:
Actually the dividend is lower compared to 2014; in dollar terms

while stanbic is looking at N50

lollx

DeRuggedProf:
This is indeed a RWANDALIZED market....
No inspiration, just perspiration.
We are moving on like when you see your fuel gauge completely down in the middle of nowhere, but must move.
You feel like coming down to push the car, but the engine is still running...

Zenith breaks further below N29
U wud think they didn't declare dividend


#nawa

DeRuggedProf:
No hooks available...

a very classic sell d news, with dividend hook trap
where yield is taken back wt bearish post markdown drawdown

DeRuggedProf:
First run a survey on the share price, that is our priority for now.....
Until our pain reduce, we will not attend to you....
We need Diamond bank's result first....

This is our message back to the DOZIES...

the weekly and daily looks scary , bears have take abt 50% of Jan gains .

Agbalowomeri:
Me sef go bid for 5 units

lollx ..
position sizing is super Good risk mgt

Zenith
- tough to hold on to N30 ... selling vol yet to dissipate

Agbalowomeri:
March headed for red candle; two consecutive

trust u to see am !
stanbic no send dem !

locodemy:
Oga fxuser.I hope you don secure your bald head against stone..

Afriprud breaks below N4

Na u de fed the bears abi !
plenty FUD