₦airaland Forum

My analysis of gold for this week..

Now there are 2 scenario that one will have to watch out for this week...

so last week thursday which was the last time i gave my analysis about the head and shoulder formation..
well i entereed the trade but got stopped out though i already adjust my stop down to about 23pips which was what i lost from the trade...

But for this week trade... one can still not rule out the sell on gold as long as price is still below 1287.1
because that is a strong resistant that price has to break before any valid buy can take place.

Now my normal analysis of GOLD is a BUY...

Here is my reason,

On the daily time frame, the last 2 candle broke up the monthly pivot point from the chart below and the next candle which is the candle on friday shows a bounce back to the monthly timeframe which closed above it...
Now normally, this suggest that gold is moving up...

But what is making me to doubt the buy of the trade is the 1287.1 area cos price can get there, reject it and simply continue to head down to resume the bearish marketing on gold...

Now for taking a buy, i expect to see a retracement down to 1280 area, then a bounce back for price to continue its up movement.

Now one have to be very careful of the buy because,
for the buy to very much valid, price has to break above 1287.1 area been a strong resistant area.
a break above that will lead price to 1301 area then 1316 area as the projection of the movement while a rejection well
will resume the movement down..

SO WHAT IS MY TRADING DECISION ON THIS GOLD.
the conservative thing to do is to stay aside of gold on monday and watch how the market upfold and when it mondays night, you would have know exactly where price is heading..
But for the aggresive ones like me on this pair... i will simply take a sell during the market open because i expect price to test 1280 area becaus anything, once price gets here, i will move stop to breakeven and watch the reaction there before taking any buy or simply leaving the sell on the trade, if price shows a break down of this area

So you might be asking the basis of my sell, well the 1hour chart tell it all. with the trendline drawn and reason for my sell, the buy trade too is valid buy not until price first of all move down before going up...

Have A lovely trading week..

Email me on davda202@yahoo.com

onlineresource: on gold...
after almost reaching 1300, am expecting to see a retracement today on gold...
already missed my entry to take a sell earlier at 1290-1295 area
looking for another area to enter likely below 1279 area which is the monthly pivot area...

said this yesterday...
well trade is planning out as expected...
entered the sell at 1281.41 and am expecting price to still move lower to
first to 1257 area and if broken will continue to move lower to 1232 area...

Let see how this plans out.

this trendline is drawn from the weekly chart and shown on the 4hrtf...
thats my target areas as the trades moves...
just adjusted my stop to about 50pips cos i dnt expect price to reach the high cos if it does
then up it goes...

Rozaxy.... I see Ɣ☺ΰ ooo
Hpe Ɣ☺ΰ gud

Head and shoulder formation on gold 1hour...

on gold...
after almost reaching 1300, am expecting to see a retracement today on gold...
already missed my entry to take a sell earlier at 1290-1295 area
looking for another area to enter likely below 1279 area which is the monthly pivot area...

naijababe: The 4h candle about to close on my end is a bearish engulfing one. I will look to short now around 106.50 area. Looking like we are going to bounce off the 88.6% level on the weekly.

naijababe.... Good day. hope you are good...

looking to buy eu once it get to 298-300 level for upmove to 3200 area and if broken then up more will it go...

2980 is the 50%fib level from the low to the high of today...
and 3000 is the weekly resistant now support area on the chart

Got stopped out on my ej trade

for gold traders...
am actually expecting gold to rise till 1253-1257 area before any fall
should it happen

hello all,
couldnt monitor and take trades after i closed all my other trades yesterday as my
network just went completely off...
saw that i had already missed some opportunities.

For now, i just bought ej at the close of the previous 1 hour candle been a pin bar and also a very strong support level
with both weekly support and monthly pivot at that area, stop used is 50pips at 128.111

Lets see how this goes

XHTML: And if I may add to the new/intending traders, I don't think this is a thread to Learn the basics of forex trading. This is practice, more like the battlefield.

So do yourself a favor and do a little reading, go through courses and get a little proficient in reading/understanding the charts so that when one posts an alert or trade call on the thread, you'll be able to analyze it, decide if you can go in or not and maybe provide an opinion.

You have to get the basics right beforehand. #My two cents.

1000000000LIKES

onlineresource: stop moved up again on stop...
another trader entered on eu buy with stop at 28141 with both stop at 28655

gold trade still on with 375 pips running from 1220.47

out of all trades for now....

second eu trade was closed with a loss of 6pip.
first eu- +62
gold- +360

on gold, am seeing possible retracement to 1240 area before the buy continue...
cant waste that much pips for now...
should price retest 1240, will enter another buy...
also sell in this area is not that okay because of stop, so anyone waiting to sell should wait for
price to move up to at 1260 area so that your stop can be okay on the trade.
Best conservative thing to do is simply wait for a pushup

onlineresource: still on my buy trade with stop at break even
same with gold at break even

stop moved up again on stop...
another trader entered on eu buy with stop at 28141 with both stop at 28655

gold trade still on with 375 pips running from 1220.47

rozayx5:

called +35725029910

to close my EJ buy trade for me and they said its server problems and their IT is working on it
i have a 20 pips trailing there

roxay open new account with xe broker
xe dey fear when dey see say rozay dey wreck havoc making money
xe close in SERVER say..... ROZAY E DON DO ABEG NO KILL US....LOL

onlineresource: okay so lets talk analysis on the pairs that i trade.

On Eu, on the 4 hour timeframe, there is a strong support level at 27934 area which has been tested a lot of times but price has been rejected this area.
Last 2 candle on the 4hr gave the reversal signal of the downtrend, so am expecting to buy eu either at market open with stop just placed below the lows of 27934 which will be able 30-40 pips.
and as regards target, this could be the begining move to at least 50%fibo level which is 3110 area which is also a key level on my chart. but first, the first target i will be looking at is the break of 29210 area up for the buy to continue up to 3110...

so in summary, i will be buying eu likely at market open with stop just below 2793 which is about 40pips.

still on my buy trade with stop at break even
same with gold at break even

[quote author=yomex_y2]At breakeven [/quote]same here, move stop on both my eu and gold trade to break even
entered my buy at 2814 and reentered my gold trade which i earlier lost due to not putting enough stop, reentered at 1220.47

[quote author=yomex_y2]i actually have this trade on my radar, a nice bounce off 1/8th level, double bottom with a little cute reversal bar. i will be targeting 4/8th level which coincides with 61% fibo level. for EJ, i m already in the long trade aiming the nearest double top. For GU, i dont like the closing bar, the bears are in control[/quote]i have stopped trading the gu pair for over 6 month now...
That pair dealt with me. sticking to the one that does not give me headache

frenchman2: BONSOIR A TOUS!

Been studying my eur/jpy chart over the weekend and i spotted something quite interesting
which i would like to share with the house
see the chart below for details

when market opens i'll place a buy stop order at 130.00 and target 132.74

NB. Nothing is guaranteed. Price could just do the opposite and rubbish my analysis.

PRICE IS KING. FOLLOW IT WHEREVER IT GOES.

For my analysis on eur/jpy, well frenchman has already given the analysis which is in line with mine. Though my own entry for the trade to buy points at 129.59-129.7 area where i will be buying with just about 30pips stop

naijababe: This NL prison na wa o. Haba!!!! Since Friday!!!

US oil still as bullish as ever, next stop 107.Bleep maybe even 110.....

sorry ooo and welcome back...
hope you enjoyed your weekend.

On Gold, i expect to see a coninuation of the buy tomorrow
so i will be buying at 1220 area or simply wait for a break above
1223.67 and enter my buy trade with stop at 1218.32 which is about 50-70pips
and target for the trade is 1238 area where i will close trade and look for a sell opportunity.
as you can see my take profit area is also where the weekly pivot area is which is where i will
be looking to sell once price get there.

okay so lets talk analysis on the pairs that i trade.

On Eu, on the 4 hour timeframe, there is a strong support level at 27934 area which has been tested a lot of times but price has been rejected this area.
Last 2 candle on the 4hr gave the reversal signal of the downtrend, so am expecting to buy eu either at market open with stop just placed below the lows of 27934 which will be able 30-40 pips.
and as regards target, this could be the begining move to at least 50%fibo level which is 3110 area which is also a key level on my chart. but first, the first target i will be looking at is the break of 29210 area up for the buy to continue up to 3110...

so in summary, i will be buying eu likely at market open with stop just below 2793 which is about 40pips.

closed my gold trade with 139pips, (sorry wanted to say 278 pips, that earlier was the dollar value)
silver trade 150pips
thank God for today.
have a nice weekend.

@aguiyi,
Na kukere I D̶̲̥̅̊ε̲̣̣̣̥γ̲̣̣̥ dance now ooo...

@aguiyi, pls ​CA̷̷̴̐͠Ŋ U̶̲̥̅̊ upload the gold chart....
Also was there any spike up.
Am presently not at hom and I have a gold sell on at breakeven at 1243 area...

Closed my silver trade with 150pips and adjusted stop on gold sell to break even. I did that before nfp, not currently on the chart now to see what's up

onlineresource: my silver trade since yesterday still running
stop now at break even, currently on 250pips

Sell trade activated on Gold on 1243.63 with stop at 1252.62

stop on gold adjusted to 50pips now at 1248.37 from the 100pips stop that was initial set.
gold trade now on +70pips. take profit target is 1220 and i hope it gets there before nfp as am closing all trades by 12.30
My silver trade is still on since yesterday. still on 250pips.
still expecting it to fall since it has broken 19.34

my silver trade since yesterday still running
stop now at break even, currently on 250pips

Sell trade activated on Gold on 1243.63 with stop at 1252.62

+110pips now running on my silver trade...

Lawfex: Do u av a target.I am lookin @ 100 jst above daily S1. wat abt gold

For gold, am currently looking to the sell it but price is yet to get to the entry point am
looking up so right now i will be looking at the break of 1238.65 to join in the sell,
thats if it does not push up first to 1262.68 or 1272 area which is probably the best entry for me.

but currently on my silver sell trade

Kirinwa and meshpip... Abeg e don do...
The real fact is that both of you were correct in your analysis of the gold market because at this stage of where price is on gold before the move up... Anything is possible at that area because of the way gold has been moving down this past week... It has broken lows that has not been broken in years and the move up is viewed in two perspective especially in that area if the low of 1180 area is the beginning of the uptrend in the gold market or simply a retracement to continue its down movement, either way is still correct. It all depends on which timeframe is been used to view the market to either take short trades or long trade which is still bearish baise...
So let us all be happy and keep getting profitable trade...
Kirinwa and meshpip, oya shake your hands...