₦airaland Forum

I think the pics would be in the provided link.

He who has an ear, let him hear.

The reasons are strange indeed.

At least, it's not a national carrier.







Perfect Money/Payeer/Epay/Neteller/Skrill: ItuGlobal

But not all the options can be used by Nigerians.

Correlation between Gold and the AUD (exposed)

I got an email over the weekend asking about the correlation if any between gold and the AUD and to be honest I didn’t know if there was any relationship between the two other than the long bow stories generated by economists. So I decided to have look. Whenever you start to look at the relationship between instruments you need to first define what you are looking at. The email I got implied that they looked the same at present therefore this implied some form of relationship.

At a glance both instruments at present seemed to be forming some form of broad congestion but this raises the question as to whether this a relevant observation since it would be possible to find hundreds of instruments that currently displaying the same pattern. However, a simple analogy will suffice to put this into context. If you have two cars driving side by side down a road this does not imply that they have either come from the same place or more importantly mean that they are heading towards the same destination. Correlation between instruments is more nuanced than simply observing that they look the same.

Correlation can be broken down into two parts, price correlation and returns correlation. Price correlation looks at whether prices move together with any degree of regularity and traders often stop their analysis here because they assume that if they move together then the impact of either an account or trading system will be the same. The issue with this is that it is not representative of the full picture. There is a second arm to correlations and this is the idea that returns between instruments can be correlated. It is important to note that it is possible for an instruments to have very high price correlations – in simple terms they look similar but have very different returns correlations. It is returns that matter to an account not whether something looks the same as something else.

When breaking down correlations I like to ask a simple question – what does the value of $1 look like if invested into each instrument since this takes into account their differing historical returns and unpacks any link between these returns.

As you can see from the chart the trajectory of $1 invested into either instrument shows at times a wildly diverging path which was exacerbated during gold’s Bull Run from 2008 and this raises the question for traders as to which possible returns would you like to expose your portfolio to. The issue here is not so much whether instruments look the same and have the same set up but rather what potential impact will trading them have upon your account. It is also quite easy to understand the differing nature of these returns by reference to the environment within which instruments exists.

Metals such as gold are free from Government interference – they can find their own level. Currencies are not free from such intervention, the fate of the AUD is intimately linked to Government policy and this ultimately puts boundaries around where the currency can go to. For example it is impossible for a currency pair to start its run at $0.75 and for it to be $7.50 three months later – this sort of move is the preserve of equities.

So outside of currently looking the same my answer to the question as to whether these two instruments share any meaningful connection for traders I would have to say no. There will also be someone who talks about the narrative behind the relationship between commodities and a given currency but my response to that is that this is an irrelevancy. Traders are not interested in stories or whether things look the same, they are or should be interested in returns.

You can view the charts attached to the articles here: https://www.tradinggame.com.au/correlation-between-gold-and-the-aud/

Author: Chris Tate

Article reproduced with kind permission of TradingGame.com.au

This piece is ended with the 3 quotes below:

“The main message I want traders to understand is how important the disciplined execution of a well thought out trading plan is in today's markets.” – Andy Jordan

“When you are overconfident, you are ripe for a major setback in the market.” – Joe Ross

“Every system begins in drawdown”. – Chris Tate

www.tallinex.com wants you to make money from the markets

It's an intriguing read.

Weekly Trading Forecasts for Major Pairs (December 17 - 21, 2018)

Here’s the market outlook for the week:

EURUSD
Dominant bias: Bearish
This is a bear market, although the bearishness is not that strong. Price has been going downwards gradually, targeting the support lines at 1.1300, 1.1250 and 1.1200. These targets may be reached soon, but price may not go seriously below them as a strong reversal is expected to happen anytime, which will accompany some form of weakness in USD. This is what might bring about a bullish bias.

USDCHF
Dominant bias: Bullish
USDCHF is bullish in the long-term, and neutral in the short-term. Nonetheless, looking more closely, it is revealed that price is a kind of rising gradually, and generating a “buy” signal, which would eventually become significant in case the market continues moving upwards. A meaningful bearish movement cannot be seen unless there is a considerable amount of loss on Greenback stamina.

GBPUSD
Dominant bias: Bearish
There is a Bearish Confirmation Pattern on the Cable as bears continue to frustrate bulls’ effort to reverse the trend and push price upwards. Apart from Brexit and political news surrounding the UK, the US dollar stamina is preventing the market from going upwards. Once bears give way, there may be a significant rise in the market. Right now, the bearish bias remains in place and long positions are not currently recommended.

USDJPY
Dominant bias: Bullish
This currency trading instrument is bullish in the long-term, and neutral in the short-term. The bullishness is not that great as there has not been a significant directional movement in the market. A rise in volatility remains a possibility before the end of this week or next week. Further movement to the upside will result in more emphasis on bullish outlook while a significant drop from here would result in a bearish outlook.

EURJPY
Dominant bias: Neutral
The bias on this cross is generally neutral, as there has not been a significant directional movement for the past several weeks. It is possible that this neutrality would continue until the end of this year because trading activity is expected to thin out (unless there is a breakout between this week or next). For the neutrality to end, price would need to go above the supply zone at 131.00 or below the demand zone at 125.00, and this will no doubt, require a strong bullish momentum.


GBPJPY
Dominant bias: Bearish
There is a confirmed bearishness (Bearish Confirmation Pattern) on this cross, because of the weakness in GBP. This trend will continue until it is clear that things are no longer bearish. That will be this week or next, and before that happens, there could still be at least, a movement of about 200 pips towards the south.

This forecast is concluded with the quote below:

“However, if a trading strategy has been proven to work over the long run, with a quality risk to reward profile, it needs to be adhered to no matter the way trades play out. Ask yourself a question: is it the trading strategy producing the results or the trader producing the results?” – Sam Evans


Source: www.tallinex.com

okwabayi:
So what should I do with this info?

I can bet this is not irrelevant.

The reality is: Did Osinbajo say this?




Perfect Money/Payeer/Epay/Neteller/Skrill: ItuGlobal

Technical Reviews for Gold and Silver (December 2018)

GOLD (XAUUSD)
Dominant Bias: Bullish
Gold has been making attempts to go upwards this month. The attempt started on November 13, when price reached the monthly low of 1195.90, and since then, price has gained roughly 5200 pips. This has generated a bullish signal in the market (both in the long-term and the short-term). The bullish signal is supposed to be sustained until the end of the year as price gains another 3000 pips minimum, thereby creating a huge Bullish Confirmation Pattern in the market. Short positions are not currently recommended.

SILVER (XAGUSD)
Dominant Bias: Neutral
Unlike Gold, which has had a sensible bullish signal on it, Silver remains neutral, with no directional movement in the last few weeks. In the long run, the neutrality has been in place since August 2018. Although there seems to be some noticeable bullish effort in the short-term, that is not significant enough to result in a bullish signal, unless price goes above the supply zone at 15.0000, which would require some determined buying pressure in the market. While the current consolidation will probably continue for some time, the trend is expected to end before the end of this year, leading to a breakout that will most probably favor bulls.

Source: www.tallinex.com

The big question is: Is it not possible to make it in Nigeria?

Weekly Trading Forecasts for Major Pairs (December 3 - 7, 2018)

Here’s the market outlook for the week:

EURUSD
Dominant bias: Bearish
The bias is neutral in the short-term and bearish in the long-term. Last week, price swung upwards and downwards without having a directional movement. That is going to change this week, as a prolonged directional movement is expected, which would most probably favor bulls, as price is approaching major support lines at 1.1250 and 1.1200 (areas where further bearish effort will be rejected).

USDCHF
Dominant bias: Bullish
Although inversely, when compared to the EUR/USD, this pair is neutral in the short-term and bullish in the long-term. The market also moved upwards and downwards last week, without any clear direction. This week, a clear directional movement is anticipated and that would most probably favor bears. This does not mean there cannot be rally attempts, but it would meet a strong hindrance at the resistance levels of 1.0050, 1.0100 and 1.0150.

GBPUSD
Dominant bias: Bearish
This is a bear market – both in the long and the short term. Bullish efforts have proven abortive as the market retains its bearishness. On Friday, price closed at 1.2744, and it may go further downwards towards the accumulation territory at 1.2700, and below that. However, the further southwards the price goes, the higher the probability of a bullish breakout when it does happen, and that will be strong when it happens.

USDJPY
Dominant bias: Bullish
USDJPY is slightly bullish – with a kind of precarious Bullish Confirmation Pattern in the market. Further rally from here will result in a stronger Bullish Confirmation Pattern; while a southwards movement from here will result in nullification of the Bullish Confirmation Pattern, which may harbinger a “sell” signal in the market. Either of the aforementioned scenario will materialize this week, for a rise in momentum is expected.

EURJPY
Dominant bias: Neutral
This is a neutral market, which has been consolidating for the past 3 weeks. The consolidation phase is bounded by the supply zone at 130.00 and the demand zone at 126.00. As long as price is within that supply zone and that demand zone, the consolidation phase will exist. On the other hand, there should be an end to the consolidation phase before the end of the week. It is after that that winners will be determined; either the bull or the bear.

GBPJPY
Dominant bias: Neutral
This is a flat market, which has been particularly flat since the middle of November 2018. There is supposed to be an end to the flatness this week, because a rise in the momentum of the market is expected. The most probable direction would be skywards when a breakout does occur, because there is a high probability that GBP will gain enormous stamina. The supply zones at 146.00, 146.50 and 147.00 might be reached soon.

This forecast is concluded with the quote below:

“Trading is like playing chess; you can learn a lot about it by reading books but if you really want to get good in it, you actually have to do it on your own. Practice is necessary to becoming successful in many professions; and trading is one of them!” – Andy Jordan

Source: www.tallinex.com

No, I don't regret such and I never will.

There is no magic in trading

THERE IS NO MAGIC

“Your trading methodology has to make sense for you even if it’s the opposite of what makes sense for other people. Choices made in developing your approach to trading should suit you personally to minimize internal conflict. Only then will you have the confidence to remain true to its development and its execution during tough times. The long-term advantage of developing your own system from scratch (rather than trading someone else’s system) assures you of high compatibility with your beliefs, personality, edges, and objectives. That compatibility becomes one of your sustainable edges. As Curtis Faith of Turtle fame noted: “It’s not about the system, it’s about the trader’s ability to execute the system.” – (Source: VanTharp.com)


LB and I have just wrapped up the final in our series on full time trading. For the most part they have been enjoyable except for one Arrow who complained that it was unprofessional of LB to not present when she was suffering from severe laryngitis. Presenting for the first time in years is an interesting thing as the expectations of those you present to also change over time.

This particular series could be summarised as all the mistakes I have made in trading and the solutions I have found such as they are. One of the things I have learnt over the past few decades is that there is no magic. Trading is a grinding profession where your central tenet is not to go broke waiting for the next big move. I think in part some attendees were waiting for the magic.

That point in the seminar where you do a grand reveal of your magic strategy that never has a losing trade which means you can quit your job tomorrow and start trading full time with nothing other than a credit card because CFD providers will now in their wisdom allow you to fund your account with credit and earn frequent flyer points.

Regrettably the field of investing has been tainted by endless shonks who have polluted the thinking of people before they even set foot in the market. Before writing this piece, I Googled trading bitcoin for a living and got 35,900,000 returns. Certainly not all of them relate to trading bitcoin or any other crypto full time but if even 10% do then then that’s a staggering 3.5 million sites promising people that they can give up their day job and start trading overnight.

The central theme of these sorts of sites and it is not limited to cryptos is that you can trade full time with very limited capital. And you can do this because you will never have a losing trade. Your equity curve will be a linear trajectory that soars from the bottom left hand corner of the chart to infinity without ever breaking stride. I can understand why this sort of thing has permeated the thinking of new traders.

Whilst this sounds seductive it ignores many of the key realities of trading the foremost of which is that trading does not produce linear returns. We encounter a feature of equity curves called drawdown. All trading systems generate drawdowns – in a very general sense if you are a trend following you expect to have a drawdown of between 15% to 25% once per year. As an example, consider the equity curve below.

This is the equity curve of Dunn Capital a money manager that uses trend following as its basic tool. You see decades of outperformance punctuated by drawdowns. There is an inviolate relationship between performance and drawdown, if you are swinging fr the fences you need to expect to be struck out a lot. Irrespective of the trading system drawdown is a fact of life for traders – it can only be avoided by not trading. If someone tells you that their equity curve never draws down, then they are a liar. It really is that simple.

The implication for those seeking to trade full time is that your first drawdown will coincide with your move to full time trading. This is a natural feature of systems, they cut their losses and then let their profits run. There is a timing dislocation between these two events that results in the account value immediately slipping. The problem is that this occurs at a time when you are most economically and emotionally vulnerable, it is also a problem because most new traders are undercapitalised. They simply don’t have enough money because they have not thought their transitions through and they may or may not have been infected by the thinking that you can give up your day job and earn 100k a year on a bank of 50k. It is at this point in a seminar that I can see how people begin to sag because it begins to dawn on them that they need much more than think to survive as a trader.

However, I think they are missing the bigger picture since the move to full time trading does not have to be an all-in proposition. The move can occur gradually over time as your capital grows and you acquire more skill. And along the way your life begins to change in small but incremental amounts. You may even reach a point where you stop believe in magic and start believing in your own ability to slowly and inexorably change your own life.

Author: Chris Tate
Article reproduced with kind permission of the author.
Source: https://www.tradinggame.com.au/there-is-no-magic/


I end this piece with the quotes below:

“Just coming back from vacation where we’ve been doing a lot of hiking in the mountains, here’s an analogy. You’re standing on a peak of a mountain looking at an even higher peak. But to get there you first have to go down that small valley…no way around it!

It's the same in trading, so as long as the size of the drawdown is within your expectations, you can and should relax when you’re in a drawdown. It's just a necessity you have to endure to get those profits. So understanding and accepting Drawdowns as part of this business will make your life as a trader much easier!” – Marco Meyer (Source: Tradingeducators.com)

“Having said that drawdowns are still making me uncomfortable. I don't like them at all and each time I'm in a big one I'm having the same doubts and troubles most of you probably have too. But knowing that actually nothing is wrong helps a lot to make it through these times. Without that knowledge and understanding, you not only have the doubts but you allow them to win over, follow them and then probably stop trading at the worst time possible.” – Marco Meyer (Source: Tradingeducators.com)


www.tallinex.com wants you to make money from the markets

The reality is that Igboho is more powerful, but less popular than Gani Adams.

Are the permanent jobs or contract jobs?




Perfect Money/Payeer/Epay/Neteller/Skrill: ItuGlobal

Weekly Trading Forecasts for Major Pairs (November 12 - 16, 2018)

Here’s the market outlook for the week:

EURUSD
Dominant bias: Bearish
EURUSD has become particularly bearish since last week (the bearishness has been in place since August 2018). On November 7, another phase of a bearish movement was begun and price has really become weak. There are support lines 1.1250, 1.1200 and 1.1150, which would tend to impeded further bearish journey. The outlook for this week is bearish, and thus long trades are not currently recommended.

USDCHF
Dominant bias: Bullish
This pair is currently doing exactly the opposite of what EURUSD is doing. The trend is bullish and the bullishness has been in place for a long time. On Wednesday, there was a new lease of bullish breakout, which has made the market skyrocket by nearly 150 pips. The bullish trend is still in place as there is a high probability that price will continue going upwards this week, reaching the resistance levels at 1.0100, 1.0150 and 1.0200. It is highly unlikely that price will be able to stay above the resistance level at 1.0200, even if it breaks it to the upside.

GBPUSD
Dominant bias: Bearish
The situation surrounding the Cable is currently dicey. The long-term trend is bearish and the short-term trend is bullish. However, the current selling pressure is undermining the short-term bullish signal in the market. Since last week Wednesday, the market has lost well over 320 pips, and another loss of at least, 300 pips, will result in a stronger Bearish Confirmation Pattern in the market. .

USDJPY
Dominant bias: Bullish
There is an undisputable Bullish Confirmation Pattern on this currency trading instrument. In the long run, price has gained over 900 pips since March 2018, plus the current bullish breakout has occurred since October 29. Some other JPY pairs are currently trending downwards, but USDJPY remains strong, thanks to the strength in Greenback. The current strength should remain in place, otherwise, a massive bearish movement could begin.

EURJPY
Dominant bias: Bearish
This cross is bearish in the short-term, but neutral in the long-term. In the long run, the market is quite choppy; whereas there has been a slow and steady bearish movement in the shorter timeframe. The recent bullish signal that was generated (especially last week), has been threatened by the ongoing southwards movement in the market. The further the price moves downwards, the more convincing the weakness in the market.

GBPJPY
Dominant bias: Bearish
The market is a kind of bullish in the short-term; but the situation in the market is precarious as the trend remains undecided in the long-term, and the bull is almost giving way to the bear’s pressure. Since Friday, GBPJOY has lost 320 pips, now getting close to the demand zones at 145.00. The demand zone could be breached to the downside, which may render the recent “buy” signal in the market useless; otherwise, the “buy” signal will be saved.

This forecast is concluded with the quote below:


“Money is made as a by-product of following a sound trading plan, and adhering to the principles of money management.” – Louise Bedford

Source: www.tallinex.com

Technical Reviews for Gold and Silver (November 2018)


GOLD (XAUUSD)
Dominant Bias: Bearish
Gold is bearish is the long-term, but neutral in the short-term. Since April 2018, price has shed 20,000 pips, reaching a yearly low of 1159.00. However, price has been ranging since the yearly low was reached in August, as speculators await breakouts of the price. There have recently been wild upwards and downwards swings, which have not been strong enough to put an end to the ongoing sideways movement in the market. This is supposed to happen before the end of November and the most probable direction is towards the north.
.

SILVER (XAGUSD)
Dominant Bias: Bearish
Exactly like Gold, Silver is also bearish in the long-term and sideways in the short-term. Since the top of April 2018, price has gone downwards by over 30,000 pips, reaching an annual low of 13.0000 in September 2018. Since then, the market has become very choppy with no directional movement. A movement towards the annual low will give emphasis to the ongoing Besrish Confirmation Pattern in the market; otherwise a protracted bullish movement, which goes on for a few days consecutively, will result in a valid bullish signal.

Source: www.tallinex.com

Weekly Trading Forecasts for Major Pairs (October 27 - November 2, 2018)

Here’s the market outlook for the week:

EURUSD
Dominant bias: Bearish
EURUSD is in a bearish trend – which started about 2 weeks ago. Price went downwards by roughly 160 pips last week, having gone down by 250 pips since October 15. Further bearish movement is anticipated, that would move price towards the support lines at 1.1350 (which was previously tested and will be tested again), 1.1300, and 1.1250. However, a very strong selling pressure is needed to break the support line at 1.1250 to the downside.

USDCHF
Dominant bias: Bullish
There remains a Bullish Confirmation Pattern on USDCHF, which has been in place for at least, 4 weeks. Since the current bullish movement began in September 21, price have moved forwards by about 470 pips. Last week, there was no significant bullish movement, and price closed on a bearish note on Friday, which was presumed to be a temporary reversal in the context of an uptrend. The bullish journey is expected to resume soon.

GBPUSD
Dominant bias: Bearish
The movement on Cable is nearly similar to the movement on EURUSD – the only difference being that the movement on the former is faster than the movement on the latter. Since October 12, price has dropped at least, 450 pips, as the market makes high lows and lower lows. Higher lows allow traders to enter short at better prices, and it is a pattern that is expected to continue as Cable targets the accumulation territories at 1.2800, 1.2750 and 1.2700.

USDJPY
Dominant bias: Bearish
The market is bearish, especially in the short-term; and in spite of bulls’ effort, a bearish signal has already been generated and this will become more significant as the market goes further southwards (a trend that is expected this week and next week). There would be pauses and transitory rallies on the way, but the demand levels at 111.50, 111.00 and 110.50 would be reached.

EURJPY
Dominant bias: Bearish
This is a classic example of a bearish movement. Since September 21, price has dropped roughly 600 pips, thus giving a rise to a strong Bearish Confirmation Pattern. The market will continue its drop this week, as JPY continues to exert its energy. There is going to be lots of opposition to the bearish trend once price reaches the demand zone at 126.50, nonetheless. But with enough selling pressure, the demand zone will be breached to the downside.

GBPJPY
Dominant bias: Bearish
There was a massive drop on the GBPJPY, which happened last week, and which ended the protracted ranging movement that was seen in the latter part of September 2018 and the early part of October 2018. The last week drop was over 400 pips, as the weakness in GBP was too favorable to the stoing JPY. Price closed on a bearish note on Friday, following some shallow upwards bounces. Further drop of at least, 250 pips is anticipated this week.

This forecast is concluded with the quote below:

“Markets go up and markets go down. Sometimes they go up a lot and sometimes they go down a lot.” – Chris Tate

Source: www.tallinex.com

4 Things Traders Must Do To Be Successful

THESE 4 TRAITS WILL MAKE TRADERS SUCCESSFUL

If you have a passion for trading, Dr. Brett Steenbarger has some choice words for you: you're not going to make it. Instead, traders need to be passionate about markets. It may sound like a minor distinction, but it's not. In decades of working with billionaire hedge fund managers and traders, he's found that traders that are passionate about trading don't put in the work and trade too much.

To be successful trading, Dr. Steenbarger has learned:

1. A rule of thumb for how traders should control losses so that they never lose more in a morning than they can make in an afternoon, more in a day than they can make in a week and more in a week than they can make in a month;

2. Why traders should not just focus on minimizing their weaknesses, but also maximizing their strengths;

3. A simple trading journal that will help you improve each day; and


4. That the best traders are ones that embrace losses and use them to become better.

Author: Dr. Brett Steenbarger

Source: https://blog.topsteptrader.com/brett-steenbarger-limit-up-futures-trading

www.tallinex.com wants you to make money from the markets.

Is it still not better than Nigeria?

It happens.


Perfect Money/Payeer/Epay/Neteller/Skrill: ItuGlobal

Technical Reviews for Gold and Silver (October 2018)

GOLD (XAUUSD)
Dominant Bias: Bearish
Gold is bearish in the long-term, but bullish in the short-term. Price skyrocket on October 11, thus bringing about a bullish signal in the short-term. In the long-term, Gold would need to continue making its bullish effort before the long-term bias can become bullish as well (provided the market continues going upwards). A movement to the south, would invalidate the short-term bullish signal and strengthen the bears’ position and enable a bearish trend continuation. However, a move to the upside is the most likely.

SILVER (XAGUSD)
Dominant Bias: Bearish
Silver is neutral in the short-term, and bearish in the long-term. Should the market continue its current consolidating movement, the long-term bias also may become neutral. It is more likely that the current market condition will continue, until the situation changes around the end of November 2018. That means a breakout is more likely to occur, and when it does occur, it would most probably favor bulls. Either there would be a bullish breakout by the end of November, or there would be a continuation of the current short-term consolidation.

Source: www.tallinex.com

Whether you like it or not. That is the bitter truth.

So continue trying against all odds.

Weekly Trading Forecasts for Major Pairs (October 8 - 12, 2018)

Here’s the market outlook for the week:

EURUSD
Dominant bias: Bearish
The market was bearish last week, and the bearishness has become pronounced since September 26, 2018. Since the mentioned period, price has lost about 300 pips (or more or less). The market would remain bearish as long as USD is strong, and the support lines at 1.1450, 1.1400 and 1.1350 may be tested. There could be temporary bullish effort on the way, but the general movement this week should be bearish.

USDCHF
Dominant bias: Bullish
The Bullish Confirmation Pattern on this market has been steady and unaffected. Since September 21, price has gained about 390 pips (it gained about 140 pips last week). Price topped at 0.9953 and ended Friday on a slight bearish note. The outlook for this week is bearish, as price is expected to continue going upwards until it reaches the resistance level at 1.0000 where a very strong and stiff resistance will be met.

GBPUSD
Dominant bias: Bearish
The bias on the GBP is bearish but there is a serious rise in a bullish momentum, which would eventually render the bearish outlook ineffectual. Price went downwards from Monday till Wednesday and then started going upwards. The upwards movement was strong enough to threaten the extant bearishness in the market, and once the market gains another 200 pips (which is expected to happen this week), the bias on the market will turn bullish.

USDJPY
Dominant bias: Bullish
USDJPY went upwards from October 1 to 3, and then started going downwards from October 4. Unless the demand levels at 112.00 is breached to the downside, the outlook on the market will remain bearish. A movement from here, towards the north, will result in confirmation of the current bullish bias. That means failure to go upwards will eventually result in “sell” signal in the market.


EURJPY
Dominant bias: Bullish
This cross is bearish in the short-term, but bullish in the long-term. The movement that was experienced last week was not that much, but this week might be different, as JPY pairs break out with renewed momentums. Should price drop 200 pips from here, the bias on the market will turn bearish. Should price rise by 200 pips from here, the long-term bullish bias on the market will eventually be saved.

GBPJPY
Dominant bias: Bullish
The rally attempt that was seen last Friday ended the consolidation that was witnessed in the last two weeks. If not for the fact that the JPY is kind of strong in its own right, the market would have gone upwards significantly last week (Just as GBPCHF, GBPAUD and GBPNZD have gone significantly upwards). However, any signs of weakness in JPY may result in a strong bullish movement, which may enable price to reach the supply zones at 149.50, 150.00 and 150.50.

This forecast is concluded with the quote below:

“Your trading life is the sum total of all of your experiences, not just the ones you are comfortable with.” – Woody Johnson

Source: www.tallinex.com

PassingShot:
1. No place for independent candidacy in Nigeria’s constitution .

2. He can decamp to PDP or any other party of his choice but I doubt that will help him at all. The reasons why I say this are many: i) he will likely be impeached if he decamps; ii) he doesn’t have political structures of his own to decamp with, which means no important members of APC will go with him. Also expect his decamping to cause further division in an already divided PDP in Lagos.

3. APC in Lagos, with what we have seen in this primary, has proved to remain a very united political family. If Ambode’s second term has not divided the leaders and members of the party, the party surely remains formidable.

We really appreciate all these intelligent answers.

Weekly Trading Forecasts for Major Pairs (October 1 - 5, 2018)

Here’s the market outlook for the week:

EURUSD
Dominant bias: Bearish
This pair has become bearish, especially in the short-term. Last week, price went sideways from Monday to Wednesday and then dropped sharply on Thursday and Friday. The drop was 170 pips, and it was enough to bring about a near-term bearish outlook on the market. This week, the bearishness could continue as the market is projected to drop at least, another 100 pips, which would enable the support line at 1.1500 to be reached.

USDCHF
Dominant bias: Bullish
There is a Bullish Confirmation Pattern on USDCHF, brought about by the strength in the Greenback (and the bearish run on EURUSD). The rate at which USDCHF has gone upwards is faster and more serious that the rate at which EURUSD has come downwards. Price gained 230 pips last week, ending the recent bearishness in the market and ending September 28 on a bullish note. The outlook on the market is bullish for this week.

GBPUSD
Dominant bias: Bearish
In the first 3 weeks of September, Cable made commendable effort to bring about a sustainable bullish signal in the market. Nevertheless, the downward movements that was witnessed on September 21, 27 and 28, have rendered the bullish effort useless. In fact, the bias on the market is now bearish and the accumulation territories at 1.3000, 1.2950 and 1.2900 could be tested before the end of the week.

USDJPY
Dominant bias: Bullish
This is a bull market, with a clean Bullish Confirmation Pattern. The strength of USD, plus the perceived weakness in JPY, has helped the buying pressure in the last few weeks. Since September 7, the market has gained about 320 pips, and it might gain at least, another 200 pips within the next 2 weeks. This week is going to be volatile for JPY pairs, as it is the new week of the October.

EURJPY
Dominant bias: Bullish
On September 24 and 25, this cross went sideways. From September 26 to 28, it began to pull back. The pullback was not significant enough to bring about a bearish signal in the market, unless price falls by another 200 pips. From this point, price has a higher probability of going upwards than going downwards, and as a result of this, the supply zones at 132.00, 132.50 and 133.00 might be attained before the end of this week.

GBPJPY
Dominant bias: Bullish
There is a valid bullish outlook on this trading instrument, irrespective of the fact that the market movement was flat throughout next week. It is possible that the flatness in the market could continue for a few more days, before there is a breakout in the market. When the breakout occurs eventually, it would end the current flatness in the market and most probably favor bulls. The expected bullish movement could even become significant, especially when GBP finally begins to gather strength.

This forecast is concluded with the quote below:


“…The good thing is that there is no age limit when it comes to trading and, unlike the Olympics, you don't have to worry so much about the physical part as you can go for gold from the comfort of your chair.” – TradingEducators


Source: www.tallinex.com

When a celeb yawns, it becomes a headline.




Perfect Money/Payeer/Epay/Neteller/Skrill: ItuGlobal

Weekly Trading Forecasts for Major Pairs (September 24 - 28, 2018)

Here’s the market outlook for the week:

EURUSD
Dominant bias: Bullish
The current bias on the market is bullish, but the bullishness is not very strong. Price consolidated in the first few trading days of last week, and went higher on Thursday. The outlook on the market remains bullish for this week, and thus, buying pressure may take price towards the resistance lines at 1.1750 (which was previously reached), 1.1800 and 1.1850. There is also a good support line at 1.1650, which should try to prevent any meaningful pullback along the way.

USDCHF
Dominant bias: Bearish
The market dropped roughly 100 pips last week, having dropped 400 pips since August 17, 2018. Since there is a Bearish Confirmation Pattern in the market, it is assumed that the price should continue going further and further downwards, reaching the support levels at 0.9550, 0.9500 and 0.9450 within the next few weeks. There could be some transitory rallies along the way, but they should not be significant to the extent of overriding the current bearish market. .

GBPUSD
Dominant bias: Bullish
This long-term and the short-term biases are bullish. Since August 16, 2018, price gained 600 pips, resulting in a confirmed “buy” signal. On September 21, there was a serious pullback in the market, which made price drop 200 pips from the high of that day. The drop was not strong enough to bring about a “sell” signal, unless the market drops at least, another 200 pips. This will determine what the market will do next.

USDJPY
Dominant bias: Bullish
About two weeks ago, a clean bullish signal was generated on this currency trading instrument, and the signal has been sustained till now. For about two weeks, price has gone northwards slowly and gradually, gaining about 200 pips. There is much room for price to go northwards: The supply levels at 113.00, 113.50 and 114.00 could be aimed at, although a very strong buying pressure is needed to reach the supply level at 114.00..

EURJPY
Dominant bias: Bullish
Like USDJPY, this cross has been going upwards in the last two weeks (a gain of roughly 500 pips). Since there is a Bullish Confirmation Pattern in the market, further northwards journey is possible, even in spite of the minor bearish retracement that was witnessed last Friday. The supply zones at 135.50, 136.00 and 136.50 could be reached within the next several trading days. They could even be exceeded.

GBPJPY
Dominant bias: Bullish
Since a bullish signal was generated on GBPJPY, price has made a significant gain. Nonetheless, there was a pullback on September 21, which cannot be ignored (a pullback of 240 pips). It is normal for price to resume its northward journey from here, giving a good opportunity to go long at lower prices. On the other hand, the market could pull back further, and that may threaten the recent bullish signal.

This forecast is concluded with the quote below:

“Any one of the many trading strategies available to traders can be used following the principle of matching personal risk tolerance to the amount of risk in the market.” – Joe Ross

Source: www.tallinex.com

khalazi:
They re good. Just that their call tariffs are very high

That is the only downside I see in them.