₦airaland Forum

Impenia:
I also bought EU on Friday with target around 1.099 as well. However, I had to close out at BE after seeing price keeps coming back to test that "support". I have come to learn through experience that when you see price taps a level 3 or more times, then the chance of that level breaking becomes higher. That's why I think 1.0833 will breakdown driving price lower. I could be wrong as I often am...lol.

I will be looking to start building long positions from the 1.08 handle, targeting 1.10 handle.

First order active!

Gold

Impenia:
When a level becomes this obvious and price keeps coming back to test it, I'm usually a bit apprehensive. Just think about all the SLs placed below that level. They could be an attractive liquidity pool for SM to raid...just my 2 cents and btw, I'm often wrong.

Buying now with SM after the liquidity raid.

PipMarshall:
Usdcad
Watchlist.

I am waiting to see if I can get a sell.

I'm also interested in this. Hopefully, I can get an entry at the Supply Zone around the 1.33 handle.

Impenia:
When a level becomes this obvious and price keeps coming back to test it, I'm usually a bit apprehensive. Just think about all the SLs placed below that level. They could be an attractive liquidity pool for SM to raid...just my 2 cents and btw, I'm often wrong.

Just like we suspected. Will be considering a buy around 1.828.

Impenia:
I also bought EU on Friday with target around 1.099 as well. However, I had to close out at BE after seeing price keeps coming back to test that "support". I have come to learn through experience that when you see price taps a level 3 or more times, then the chance of that level breaking becomes higher. That's why I think 1.0833 will breakdown driving price lower. I could be wrong as I often am...lol.

I will be looking to start building long positions from the 1.08 handle, targeting 1.10 handle.

Still dropping. 20 pips more before we reach the 1.08 handle.

PIPnator10:
Maybe your stops are too tight.
See EURGBP, it's still respecting the the support at 0.83000

When a level becomes this obvious and price keeps coming back to test it, I'm usually a bit apprehensive. Just think about all the SLs placed below that level. They could be an attractive liquidity pool for SM to raid...just my 2 cents and btw, I'm often wrong.

walexy100:
Sell GU 3031 TP 2752 SL 3075

Would it not be reasonable if there's accompanying charts to support your calls? Or atleast, some written explanation to provide insight to the reasoning behind the call.

Maybe many are here to just benefit from the calls, but I believe there are others who are more interested in understanding the thinking behind the calls.

AU is printing one of those classic Stop Hunt setups. Creating a false "strong Support" for the retail universe to go long...then Boom, they drop the MF cleaning out all stops before reversing.

saxy4c:
Like I asked at a previous post, how would one practically trade this value?

I'm sure he's referring to 1.2752. I've seen many traders represent levels that way.

PIPnator10:
GBPAUD..
E be like na buyimg opportunity we get here?
Any differing view make e please point out make I no go crash alone!
Price broke the resistance at 1.94410.
We see what happens with it.
Good luck.

As long as AU keeps dropping and as long as Risk-Off sentiments continue to permeate the markets, that is a buy. But of course, if sentiments changes, then my view changes.

Impenia:
Disappointing Average Earnings data for GBP. Now waiting for German ZEW data by 11am. If that comes good, EG should fly.

Damn! That was frustratingly disappointing data. Economic sentiments must be really low in Germany right now. I'm out of all EUR buys for now regardless of whether I'm right or wrong. Will reevaluate later.

Will attempt to buy NZDUSD if it drops to the 78.6% fib ret. That area is also a daily Demand Zone.

saxy4c:
Second trade up 35pips and first entry up 10pips.
Eur should fly in about 5mins time or the next candle. Especially EURGBP.
Placing my GBP pairs buy SL to entry.

Disappointing Average Earnings data for GBP. Now waiting for German ZEW data by 11am. If that comes good, EG should fly.

Impenia:
EURCAD... Price has broken through the support. There's a chance it could drop further down to the Weekly Demand Zone (around 1.41 - 1.42 handle).

My EURCAD bias changed after seeing Risk-Off sentiments. Equities are dropping, safe haven assets are flying, Oil is dropping. This was a no brainer. Simple breakout & retest of structure neckline and 50 EMA.

Hindex:
Can't go ahead with the broker. Anyway, I'm opting out of the challenge.

This is no excuse, man. There's absolutely nothing wrong with the broker. Most ECN brokers charge commission per round lot. The commission approximates to around 0.7 pip...which is still less than the spread on non-ECN accounts.

The commission is the least of your problems. Your problem is your MM & RR.

Hindex:
Finally $42.7

Wish to change this broker

Do you genuinely think this is the right way to trade? Taking 3 standards on a $1k account scalping 1 pip? Do you have any clue about Money Management or Risk/Reward?

Anyway, who am I to tell you what to do?

NZDJPY...equal lows at the 70.0 psychological handle. This will probably give the retail universe a false sense of "strong Support". I suspect that the level will break, especially with Corona Virus causing safe haven flows. Price likely heading down to 69 first and then probably 68.

Risk-Off sentiments in the markets. Expecting fund flows into safe haven assets (JPY, CHF, USD, Gold).
---
RBA was quite dovish in their SoMP. They could even cut rates to minimize the impact of the Chinese economy slowdown (due to Corona Virus). AUD could sink further.

infofirst:
It is possible as long oil continue to bull.

Absolutely. Tbh, most XXXCAD pairs actually look like they'll continue heading south in the short-term...but you never know.

EURCAD... Price has broken through the support. There's a chance it could drop further down to the Weekly Demand Zone (around 1.41 - 1.42 handle).

My view on AUDCAD
---
There's a chance price could drop back to that "Support" to make a 3rd test. This is likely to give the retail universe a false sense of security to buy from that "Strong Support". What could then happen here is for smart money to drive price further down to do a liquidity raid on all those stop losses below there. If that happens, I'll be targeting to buy from the 0.88 handle.
---
This is a mere opinion and it's highly speculative.

EURCAD...fingers crossed.

GU...shorting on the break and retest of neckline + 50 EMA.

Taking a bite on DAX...fingers crossed.

PipMarshall:
AUDCAD.

Looks like a long from here.
0.8875 not a bad place to put stops.

Also very interested in buying this pair. But those 3/4 touches on that "Support" is giving me second thoughts.

I have come to learn that the more price touches a level, the more vulnerable that level is to a break. I suspect they could break that level just do a Stop Hunt before reversing back up. Just my 2 cents.

PipMarshall:
I never claimed you said I was right or wrong.
And no where did I claim your post was to make me change my mind about the trade. You clearly stated it was another perspective.
I was just replying to the perspective and more or less saying that after looking at everything.. I still choose to buy. And if I end up wrong.. It's normal business.

If you check my posts.. I do not attack anyone. I try to reply as politely as I can to everyone. And all I did was acknowledge the other perspective and say at the end of the day... Either could be right.

Respect bro! Let's make pips.

Just taking a look at USD Index and wondering if there's a chance price could move higher to test that "resistance"...

PipMarshall:
It's possible.
I could be wrong.
I understand.
At the end of the day, we get some right.. Get some wrong, but with the right RRR and money management, we end up with profits.

Correct! But the point of my earlier post is not about who's right or wrong (only the market will eventually prove that). It's more about just showing things in a different perspective, so we could make better informed decision. It's not even meant for anyone to change or doubt his/her earlier analysis.

PipMarshall:
'Those who can, trade.'

Let's go!!
NZDJPY
Attempting longs to the purple line when market opens. Entry around the green line.. Entry at CMP also a possibility.
Stops at 70.28.

Different perspective on Daily TF. Seems like a Bear Flag. Price is consolidating between support and neckline, waiting for breakout.

infofirst:
GBPUSD, Good level am watching to add to my sell as well.

You're buying EU but looking to sell GU...sounds like a good bet buying EG.

meshpips:
I am doing just fine.

I nor get time again for useless banter.

Still doing my stuff.

The chart below shows my entry to exit for GBPUSD on Thursday into Friday.

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