₦airaland Forum

$GBPAUD back to the key 2.12 level - critical for future direction

#EURUSD , if the feds intends to increase rate soon, its only logical to join the band wagon with the buy and hold the USD, the New high created on the EURUSD could be a significant high for the next few months or years as usual just my guess.

#GBPAUD, already traded above its average weekly range , it either goes up or goes down to #2.089 before up

Apparently, i trade without stoploss ...mental things
Broker just wouldnt let my stoploss be

Hmm..defender of the universe

#GBPAUD , caution, this down trend might continue for another week or 2 with some retracements before getting to #2.056 >> #1.998..
meanwhile looking to temporary buy from #2.0921
The bears wont just let go easily...

#EURCAD , Nice area for a short

As in really?? #2.15 isn't for today

jamace:
GBPAUD
BUY @ 2. 10920
TP @ 2. 15100
SL @ 2. 10500

Best of luck.

#EURNZD ready to sell

#GBPAUD Fundamentals from Sydney has a bullish tone for the #AUD based on thursday forecasts thus lower price on the way, however looking to hedge my sell position when price finds a support pending the news release.

My able mere commissioner...nothin do u

if you are selling a software then you arent really making money from using it..if you are making money from it , you just post it here for all (dont drag people with you to early grave).
However, i am angry because i get similar junk emails everyday from some yankee guys or self acclaimed forex billionaires convincing me to buy one system or the other ,software or enrol in some class.it only makes me sad to see a Nigerian doing this also. I am a modelling expert , if you tell me you wrote a computer code which can forecast price in the short term taking into consideration white noise from the News events and other economic indicators this i can believe ,but a software robot trading for you hmm sorry i ll pass. ..In as much as we wish to deny it we sill need the controlled human emotions and human feelings to trade the market.

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lots of buyers will be waiting at #2.089 , 2.056 levels
This nice bearish candle on the daily cannot be ignored

fxbomovi:
the up move will likely start tomorrow

should be a temporary retracement buy i suppose. coz i think this could be the long term correction we've been waiting for

fxbomovi:
will be buying ga hopefully today if signal show..

AUD is strong GBP is strong, which wins?

#GBPAUD The current 1 Hr candle closing bearish could as wellbe a good signal it isnt interested to go up, trading less than half its average daily range.
Recent bullish move till now could be only a retracement from Fridays mega bearish move.

Cul4real:
THANKS. pls educate me on the best and normal stop loss and take profit ratio.

Mr

Dont be in a hurry to lose money, let the price come to you..
Missed an entry?? dont get caught in the middle by pursuing price (Its like missing your train and you jumped into the track to catch it, you only end up getting hit by another train. Just wait for another train) , price will always revisit or establish a new zone.

AU RBA Interest Rate Decision today is expected to remain unchanged today, but RBA could definitely cut rates and surprise market in the process. Seeing that commodities are continuing their descents, rate cuts is not completely off the table…
Ultimately the AUD is a bit bearish as RBA has opened the door for rate cuts and considering recent drop in crude prices, RBA definitely have room for rate cuts…

Bollinger:
Be careful with buys for GA. It's dangerously getting close exhaustion. if 21227 is broken then all uptrend is done. 21227 is the confirmation price.

Lets see how current 4 Hr candle closes
The indecisive movements with this pair is due to the News reports from Australia scheduled tomorrow morning, i guess this will determine its fate bull or bear.

AUD Retail Sales m/m
AUD Trade Balance
AUD Cash Rate
AUD RBA Rate Statement

jorel1:
I guess the only driving force to send gbpaud down for a correction is a bad economic report from England.
Watch out for any high level economic report with a negative actual result having a huge deviation from forecasted value.

GBP Manufacturing PMI - Still Bullish result

adeniyia33:
Thanks ma.Boss.

But ao do u use d SMA? Do LONG above it and SHORT BELOW IT, I can see it acting like Support and Resistance

Thanks once more

[Qquote author=jorel1 post=36534694]
Its a 50 SMA

As it moves, it coincides with horizontal support and resistance. I only use it to gauge the current market condition whether ranging (flat) or trending (increasing angle) taking in to consideration price will always return to the mean value.
There is more to it than I describe here.

disaac73:
www.nairaland.com/2497864/emefiele-cbn-supports-banks-decision
Does this mean we can't deposit Dollars into Domiciliary accounts to fund our trading accounts?

In normal countries, deposits are usually made in the local currency and its the banks responsibility to determine the exchange rate and carry out the transfer.
Its only in Nigeria/Africa I hear often of domiciliary account, a standard account should have an IBAN neccesary for international transfer.So probably the CBN governor has plans for this if he really knows what he is doing or preferably the banks needs to upgrade.
you could try PAypal

I guess the only driving force to send gbpaud down for a correction is a bad economic report from England.
Watch out for any high level economic report with a negative actual result having a huge deviation from forecasted value.

jamace:
I see GA going to 1.15200 before anywhere else.

A breach of 2.124 would be my sell trigger.
But i hope 2.124 continues to act as support to buy.

nasyl:
No doubt, fear is a factor. But not this case. You can't compare Monday to Thursday or Friday market. Monday market play mind games (my opinion) and it's not as volatile as other week days.

Well i agree with if i consider your opinion from a day trader's perspective, but you shouldn't rule out the fact that if you are a medium to long term trader, you could find a comfortable entry whether a high or low anytime irrespective of zig zag movements , to give you a relaxed mind as you wouldn't be disturbed by the recurring fluctuations of price during the week or month depending on your trading style.
Mondays doesn't in anyway influence the long term direction of price.

harizonal123:
Has anyone noticed trading on Mondays usually end negative most times. What could be the technical reason for this?
Fridays market was zigzag, am staying out trading tomorrow cos there is no clear sign where price could be heading

This is fear and its because of your fear the market will go zig zag...if you look at your chart history you wouldn't even notice Mondays zig zag because there isn't any..its just a figment of your imagination..

Price continues to respect S/R levels monday through friday...

adeniyia33:
Pls.what.is d parameter u set for.the Moving Average? I can see it in red

Its a 50 SMA

#GBPAUD , if we dont get a gap down during the weekend, looking to buy from
Current price currently at support 2.1357
Next Support level 2.131
Last week low 2.124

TP: 900 pips

Only 5% or less of day traders make money consistently...
And trading strategy is not the number one reason for this. Failure to implement the strategy fully and not following the rules and guidelines is the number one reason for losses of majority of day traders...

#CAD pairs all training on top of the range,possibly a sell on Monday

£GBPAUD , a new high today not possible..