Meshpips's Posts

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Business › Re: Forex Trade Alerts: Season 19 by meshpips(m): 2:18pm On Dec 20, 2019

meshpips:
Hi bro, the demand level at 1.68189 looks like one that has been USED already. It just might fail.

I will do my volume computation to find out how muchof buy volume is leftat that level (but this will be when I get to the office around 7:30 - 8:00 am).

From what I see, the level might fail.

All the best!

The level has failed. I couldn't get in on the sell though.

Business › Re: Forex Trade Alerts: Season 19 by meshpips(m): 1:47pm On Dec 20, 2019

djwalata:
I bliv u wanted to comment on my eurcad opinion

Yes, I did.

So sorry, I didn't know I quoted the wrong post.

Those are thoughts on EURCAD.

Business › Re: Forex Trade Alerts: Season 19 by meshpips(m): 11:28am On Dec 20, 2019

djwalata:
Its a risky one indeed. I wish to buy as well but to b conservative, I'll like to c d resistance broken first.
Ve a look at d downward trend line from September 4, till date(daily tf), u will notice dt ur entry is a point of resistance( trend line resistance+ horizontal resistance) . I will buy once the line is broken and close above it, because a bearish bar can still b formed today thereby producing a sell option.

Probable bearish bat on H1.

VAP is above the opening price.

Price is also above VAP.

All these have bullish suggestions for this pair.

Business › Re: Forex Trade Alerts: Season 19 by meshpips(m): 9:27am On Dec 20, 2019

PipMarshall:
Wait before you join me on this one.
There is an opportunity for an entry ahead.
One could as well use a buy stop.

But I prefer the more aggressive entries.
More risky. But nice when it works out.

EURCAD
LONG.

Stop loss..
200 pips.

Holding this for weeks. If it does not hit stop.

If price makes a confirmation and reaches buy stop area, will update.

This is good. I already entered a long on this pair yesterday.

Business › Re: Forex Trade Alerts: Season 19 by meshpips(m): 8:21am On Dec 20, 2019

@pipmarshall,

these are the two levels I have where sellers ought to be waiting for today (EURNZD)

The magenta line is the VAP resistance for yesterday while the aqua is the ordinary price supply level on H1.

Let's see which of them will hold for today.

All the best!

1 Like

Business › Re: Forex Trade Alerts: Season 19 by meshpips(m): 6:20am On Dec 20, 2019

The buy trade might be fine until around the 1.68984 resistance level. Anywhere from this level or slightlý higher, I will seek to take the sell side.

Enjoy your day bro!

Business › Re: Forex Trade Alerts: Season 19 by meshpips(m): 6:17am On Dec 20, 2019

PipMarshall:
I think a good time to buy is Now!!
Looks like it's forming a base.
Going long at CMP.
Stop.. 80 pips.

Let's see what happens

Even the best setups fail. Don't forget to trade responsibly.

Hi bro, the demand level at 1.68189 looks like one that has been USED already. It just might fail.

I will do my volume computation to find out how muchof buy volume is leftat that level (but this will be when I get to the office around 7:30 - 8:00 am).

From what I see, the level might fail.

All the best!

1 Like

Business › Re: Forex Trade Alerts: Season 19 by meshpips(m): 4:49pm On Dec 19, 2019

@saxy4c,

that's my trade on GBPNZD from entry until exit.

Business › Re: Forex Trade Alerts: Season 19 by meshpips(m): 3:30pm On Dec 19, 2019

saxy4c:
@meshpips I'm glad you were here at my entry point, my advice is I doubt I'd ever need your counsel in trading, not that I'm infallible, I'm sure newbies here can teach me a few, but because you make me understand day by day that you know less and less than what I presumed. Please keep whatever vibes you have far away from me, it's getting irritating.Thanks

Those are my SELL entries for today on GBPNZD.

I have been busy all day.

Business › Re: Forex Trade Alerts: Season 19 by meshpips(m): 11:50am On Dec 19, 2019

Ummuaisha:
High spread I'll say yes, but I also opt for Zero Spread because of that, and it's very OK

Here is the truth: THERE IS NO SUCH THING AS ZERO SPREAD

You either pay SPREAD or COMMISSION.

After taking a trade, look at you P/L blotter (on PC) and check under the column for "commission".

Your charge or cost is right there.

1 Like

Business › Re: Forex Trade Alerts: Season 19 by meshpips(m): 8:42am On Dec 19, 2019

AyoII:
Thanks Bro.
I checked their reviews online and saw some couples of negative review, i don't know how true they are.
And the fact that a Broker is regulated does not mean they will not be shady.
The most confusing part and why am calling out for help is virtually all brokers have very i mean very bad reviews.

Shady and blockchain technology?

Bros, reason am na.

@AYII you've got mail.

Business › Re: Forex Trade Alerts: Season 19 by meshpips(m): 8:15am On Dec 19, 2019

Joseankles:
OK. Thank you. I understand they have an office in lekki.. Do you know how long they have being around. Make them no carry my change money run oh.

They are quite new in Nigeria though but you have absolutely nothing to be afraid of. They are regulated by the FCA (UK) and SCB (Bahamas).

A totally client - centric broker that is very transparent in her dealings.

You can send me a message via whatsapp if you like to know more.

Thanks.

Business › Re: Forex Trade Alerts: Season 19 by meshpips(m): 7:31am On Dec 19, 2019

saxy4c:
No rush brother, many more opportunities would arise, grow at your pace. At least this other trade is reasonable right?
Gbpnzd buy@1.9840 Tp@1.9950 Sl1.9770

1.9710 should be a better level to buy from.

Business › Re: Forex Trade Alerts: Season 19 by meshpips(m): 7:30am On Dec 19, 2019

SayDeeJay:
According to the last weekend tutorial, is this valid?

Can you notice the divergence between the RSI and the 2 most recent swing highs? Suggesting a sell off in the near future.

When trading crosses, ir is also strongly adviced that you analyze the constituent pairs that make up the cross individually.

In this case, you need to analyze EURUSD and then USDJPY individually.

There are many subtle things that traders overlook.

All the best bro!

1 Like

Business › Re: Forex Trade Alerts: Season 19 by meshpips(m): 7:22am On Dec 19, 2019

Joseankles:
How is their withdrawal service like? ,How fast?

Same day.

Business › Re: Forex Trade Alerts: Season 19 by meshpips(m): 6:24am On Dec 19, 2019

AyoII:
Hello Guys
Please Am about to switch From FXTM
Any recommendation on a broker that support Nigeria and also work with local banks in Nigeria
And their minimum deposit and withdrawal
Thanks

If you want an A - book broker that is utterly transparent (their platform is built on blockchain technology), regulated by the FCA (UK) and the SCB (Bahamas), you can click on the link below:

global.tigerwit.com

All the best!

Business › Re: Forex Trade Alerts: Season 19 by meshpips(m): 10:09am On Dec 18, 2019

@saxy4c, do well to drop your comment about the weekly range stuff you were trying to point out.

Abi my post has cleared all doubts in your mind?

Business › Re: Forex Trade Alerts: Season 19 by meshpips(m): 3:40am On Dec 18, 2019

saxy4c:
My good guy, what was the weekly range of GBPNZD for last 2 weeks and then last week. Then when let me know the weekly range of this pair, let's discuss before

I will do a walk through with you just because you asked.

The average weekly range for GBPNZD (using 5 years historic data) is 467 pips.

The excel file attached shows the RANGE for the last 5 weeks.

The erudite trader knows that 1.27 Fibonacci extension level is an important level for reversal.

So let's add an extra 27% to the Average Weekly Range to mark the extended range (that is a probable termination point for week's that exceed the average).

467 * 1.27 = 593.09

So we can say that GBPNZD does 467 pips (on average) or 593 pips in extension. Anywhere between 467 pips to 593 pips, the trader can begin to seek for a reversal to the mean price.

The 30 SMA on H4 shows your 1 - week average price. You can also use either the typical price [(H+L+C)/3] or the weighted close [(H+L+C+C)/4] for the previous week as the average price and then project the probable exhaustion point for that week.

It is important to observe here that regardless of the UK elections held last week, GBPNZD still did not exceed the extended weekly range.

Over to you @saxy4c, you may now speak.

Business › Re: Forex Trade Alerts: Season 19 by meshpips(m): 2:43am On Dec 18, 2019*

saxy4c:
My good guy, what was the weekly range of GBPNZD for last 2 weeks and then last week. Then when let me know the weekly range of this pair, let's discuss before

Do you want to check the weekly range for a GBP pair for last week where we had UK election and and probable outlier?

Business › Re: Forex Trade Alerts: Season 19 by meshpips(m): 7:40pm On Dec 17, 2019

PipMarshall:
Alright.
I understand you.
I am only trying to get in earlier.
It's safer to wait for the break of the trendline but I choose the more aggressive route.

Around year 2007, I was trading a trendline breakout system called Mouteki (I think it actually is Tom Demark's ). There was this day in which I got a signal for an entry and decided to share the trade with a few of my contacts at that time.

Surprisingly, one Asian guy sent me his chart and was already about 100 pips in profit. I was amazed at his entry because he seemed to have entered just when the buy started.

In a bid to improve upon my trading knowledge, I asked him the reason for his entry. It turned out that this Trader already had a RED DIAMOND on forexfactory. His moniker - Kang Gun. He was a programmer and a mathematician who trades using maths and stats. He it was that gave me the impetus to delve even deeper into using maths to trade the market.

Whilst a trade entry based on trendline breakout is good, you can get a far better entry trading mean reversion methods.

Stick with whatever works best for you and keep striving to make your entries and exits more effecient.

All the best guys!

1 Like

Business › Re: Forex Trade Alerts: Season 19 by meshpips(m): 1:36pm On Dec 17, 2019

@djwalata, you have brought up another discussion which causes a whole lot of controversy in the market (among traders).

Different Brokers have different terminal time on their MT4.

Having underscored the importance of the CLOSE, which trading terminal time should traders use for best result on Daily time frame and higher?

Business › Re: Forex Trade Alerts: Season 19 by meshpips(m): 1:11pm On Dec 17, 2019

infofirst:
Brilliant description and it does make meaning. I usually respect that Tf as well. Your explanation does make it more meaningful. Will take note.

Many thanks sir.

walexy100:
What's the significance of weekly GAPS?

It depends on whose side you are standing. For the Broker, gaps constitute RISK because the price points between the interval of the gap doesn't have orders point by point. Stocks that are not liquid usually have gaps this makes them risky to trade and hold overnight.

Oftentimes, gaps are also seen during weekends where we have OPTIONS EXPIRATION. As everyone's position is closed "mandatorily".

For those interested in taking advantage of weekend gaps, you can check out a Professional Trader called Joel Rensink. He has a strategy that takes advantage of weekend gaps called the One Night Stand.

2 Likes

Business › Re: Forex Trade Alerts: Season 19 by meshpips(m): 1:01pm On Dec 17, 2019

VeeVeeMyLuv:
@Meshpips so true, traders will still be forcing the trade when price has already reach weekly range.

When the ATR indicator is applied on the weekly time frame, it will show us the Average Weekly Range. The default 14 period setting might not give us a statistically significant reading though (I usually recommend using 52 periods or a multiple of this value as there are 52 weeks in one year).

Now, Range is simply HIGH - LOW.

It is a measure of DISPERSION. As such, once the Average Weekly Range has been done or exceeded, it becomes logical to seek opportunities for a MEAN REVERSION trade (where we expect price to trade back to the AVERAGE price for that week).

It is note worthy to state that BOLLINGER BANDS (standard deviation) can also be used as a measure of dispersion. In this case one can seek opportunities to trade back to the MIDDLE BAND (average price) AFTER price closes either ABOVE the upper band or BELOW the lower band.

3 Likes

Business › Re: Forex Trade Alerts: Season 19 by meshpips(m): 12:14pm On Dec 17, 2019

walexy100:
Week

MrUnder:
Monthly timeframe is King

infofirst:
Most professional traders recommend daily Tf. But weekly & 4h usually help too. More than one Tf is required to get the best result in my opinion.

Thanks everyone for your answers. I have thought long and hard about this and decided that the WEEKLY time frame ought to be the SUPREME time frame.

Reason: This is when the market CLOSES. This is the only time you will see GAPS in the market. For stocks, DAILY time frame would be just fine.

Let's take as an example, Nigeria playing a match against Ghana.

Half time score line

NIG (1) - GHA (0)

Has Nigeria won the match? No !!!

But if at the CLOSE of the match (at full time) the scoreline is still

NIG (1) - GHA (0)

Now Nigeria has won the match even though the score line is not different from what we had at half time.

The CLOSE of the trading period is of utmost importance.

Smaller time frames as compared to the weekly, only show us a SEGMENT of the continuum.

9 Likes

Business › Re: Forex Trade Alerts: Season 19 by meshpips(m): 11:24am On Dec 17, 2019

A quick question to all traders in the house.

The FOREX market runs for 5 days each week switching from market center to market center during this 5 - day period.

Traders use different time frames for their analysis.

Which time frame can we then say is the SUPREME time frame on which analysis should be done?

Business › Re: Forex Trade Alerts: Season 19 by meshpips(m): 11:01am On Dec 16, 2019

USDJPY and AUDUSD are set to move (intra-day).

Analysts in the house, make una do justice.

All the best guys!!!

1 Like

Investment › Re: Nigerian Stock Exchange Market Pick Alerts by meshpips(m): 2:00pm On Dec 14, 2019

Mcy56:
Lol. I'm just seeing the bolded.
You know I've always pass your exam nah, if not because Meshpips dont attend class regularly, I would have been a first class student by now.
CP, be getting my prize ready for Xmas.

Hmmnnnn . . .

Na jeje jeje I siddon on my own . . .

Make una leave me hand o!

1 Like

Business › Re: Forex Trade Alerts: Season 19 by meshpips(m): 10:18am On Dec 12, 2019

@maryjames9 you've got mail.

Thanks.

Business › Re: Football (+/Other Sports) Betting Season 13 by meshpips(m): 6:18am On Dec 11, 2019

Alphabit:
I gave him money which he's yet to pay back.

He can tell someone alive that he's dead and the person is capable of believing it. He's that good!

Everyone has their gifting. I wished he had channeled his to the right energy other than scamming.

I have proofs.

Kindly note that you posted using a moniker that I do not know. When I had dealings with you about 3 - 4 years ago, I knew you as ZEROBIT and not alphabit. That's the reason I didn't even bother to respond to your allegation.

We spoke extensively on phone yesterday. I apologize here publicly for the money lost and for whatever inconvenience it caused you.

Kindly post here on this thread the proof of the amount given me (actually funded in your betting account) or a trail of our communication via whatsapp at that time.

I will pay back within the next 30 days.

Again I apologize for the loss of fund and for whatever inconvenience it caused you.

Thank you.

1 Like

Business › Re: Football (+/Other Sports) Betting Season 13 by meshpips(m): 6:10am On Dec 11, 2019

Alphabit:
That guy is a sweet smooth talker.

From saying he came 2nd in Forex contest nationwide to claiming no loss in arbitrage betting.

I gave him money which he's yet to pay back.

He can tell someone alive that he's dead and the person is capable of believing it. He's that good!

Everyone has their gifting. I wished he had channeled his to the right energy other than scamming.

I have proofs.

Business › Re: Forex Trade Alerts: Season 19 by meshpips(m): 3:21pm On Dec 10, 2019

PIPnator10:
I hope this makes sense to someone.
Goodluck.

**Whatever your decision will be, wait for daily candle close to signify price direction (confirmation).
**Still watching EURUSD and EURJPY for a sell according to the chart I posted yesterday.

The USDCHF chart ought to be helpful to the guy that took sell positions.

Anyway, he was trading for just 5 pips.

Transient, short timer.

Business › Re: Forex Trade Alerts: Season 19 by meshpips(m): 1:04pm On Dec 10, 2019

After we have created an uncomfortable environment by our actions and inactions, we then start going into ghost mode.

@infofirst, stay and enjoy the mess you were a vital part of creating.

Where you dey run go?

Guy stay and enjoy your "creation"

Many times we fail to understand that everything and everyone is inter-connected.

There is plenty to learn from this thread, highly intelligent people gathered in one place yet together they cannot do something monumental.

A house divided against itself cannot stand. Why tear down your own? What is the sense in doing so?

@inforfirst, if ever you go into ghost mode, I will be of all most disappointed in you.

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