₦airaland Forum

naijababe: Almost 24 hours later, EJ is still playing . Holding my short still, I know it's counter trend but it could spit out 300pips for 80pips risk.

same here... using 60pip stop... am sure that by nightfall, retracement should start...
my gold pending buy order was activated while i was offline currently on 45pips now on gold

Thermythorpe: April 30th.. .














Anyone?

Am also born on april 30... add me here on 20A70E0C ladies only...

just a quick note...
do you know that awka ibom is the second highest HIV/AIDS carrier in nigeria...
if you dont, now you know. so those of you that are serving at akwa ibom, be very careful and i advise that you stay away from sex...

NOTE: you have to be aware of the level at 128.77 any break above there with the break of the monthly resitance, its up with go to 129 area... for those looking to buy.

as for which ever one happens, am going to enter in any of the direction that happens either a buy at the rejection of 128.44 which is also confirmed by a break of 128.77 to pave way for 129 area or a sell at the break of 128.44 by 2pm

For me to short ej, i will rather wait for the close of the 4hour which should break the monthly resistance level 128.44, if its rejects it, then ej is still going up....

just my one cent....

next level am looking out for is 125.416 on ej to join the buy trade...

@

infofirst: no mind me, lazy lazy n have been reading super trader for over a month now n i once post sometin from it on this thread.I will do more hopefully now

once i get that book... i give myself less than 2-3 days to read it... i hope its talk more about the psychology of trading cos that what am focusinm most of my reading on right now in fx

Okay... Will do just that...

@rozaxy5, I don get name for you... Fxscientist since you are always in the research room....lol

@ rozaxy5, u funny die... Abeg make u no kill the market ooo...

@nairababe, I don't mind if you share the book with me as long as I will definitely learn more from it, davda202@yahoo.com

@naijababe... Wic book be that ooo thatyou just finish reading...
I read a whole lot too and won't mind if u share this book with me especially if it has to do with fx and internet marketing.
Just finished a 200 page book on marketing this weekend.

naijababe: I think 124.81 to 124.10 is the area because that's where the monthly R1 is that, the broken trendline on the daily which i expect to be be retested is the area too and the monthly resistance which has now been broken on the weekly is in the region and finally it is the 38.2% retracement level of the last upswing.

thanks for sharing your view.
i didnt consider the fib level area when looking at the chart. the monthly level is probably the level for the buy.

this gap up on this ej is something else.
well i expect the movemnt down....

rozayx5: Wish you all a heavy profit in the coming week

now that i have something to tame the Wild animal called GU i will start trading it on a smaller account and avoid my main accounts

how you doing?
me and gu are no longer friends like we use to be. Its usually responsible for most of my lost trade which is why i totally removed the chart from my platform.
majorly focused on eu,ej for currency and gold and silver for metals.

For ej trade.
on the 4 hr time frame, price rejected the weekly resitance level so
i expect ej to fall back to at least 125.356 before any upward movement should continue
and should in case it doesnt come down to this area for me to enter long on this currency
i will simply wait for a break of 127.23 for me to enter long on the currency.
those are the 2 areas i will be watching out for on my 4hr chart.

Have any suggestion, please comment and lets rub mind on the analysis stated here.

Happy pipping

For EU trade this week.
i expect to see either gap down or at least price should retrace down
to get more valid entry to buy this currency.
the opening market will determing where i will buy but am looking at 2930 area
if price retraces to this area and if the gap down is more than this (just in case)
then i will be looking to buy around the monthly pivot level which is 2900.
which ever should happen, will be online at market open to see what happening...

Just my one cent

At last, have been free from this crazy ban....
hope you are all doing great...
wanted to post some calls on gold on thursday but my posting priviledge was removed.
lost a trade on friday on ej and gold as i took a sell (93pips)
well no qualms since i had initially made over 450pips from the gold i traded this week.

So for this new week. trend has changed on gold, trend has changed as a result of thursdays and fridays
daily candle formation, a shooting start followed by a up movement, which means that gold will be going up
so any i will be watching out for buy oppoutunity on gold, will wait for retracement to happen at around
1567.5 which also has a monthly support level at 1566.45, if this level holds then i will enter a buy to
join the trend.

NOTE: CHECK OUT THE MONTHLY CHART ON GOLD AND SEE WHATS HAPPENING THERE
happy trading week...

Great analysis you are giving in this forum.
thanks for this...

update on my gold trade...
reentered another gold sell at 1575.9 with 25pips stop (now 15pips)
said it earlier that i would reenter at this level to continue the down movement.

teeboy4x: WHICH WAY EU

major opputnunity you should be looking at on eu is looking to sell as that is the overall trend of the market.
i still see eu heading to 1.2660.

@fxking, thanks for the information about the gold and silver update.
this is for those using the alpari platform.

i expect gold to move back up to 1576 area before continuing its downward movement...
looking to reenter there again as the trend is still on the downside.

just my one cent... or what do you think for those that trade gold...

This gold is really serving me well.
stop moved to +180pip.

gold currently on 270 pips.

Gold now sitting on 200pips and still riding...
if price break below 1576.2 then downward movement still continues...
moving stop to +100 pips now.

rozayx5:

your spread on gold is too much... mine is just 5 point.

move stop to +80pips

like i said earlier on the gold sell that i took.
turns out to be better than expected. curently on 155pips


just loving this...

hello you all,

from my analysis on sunday concerning eu and gold.
eu already at work by the upward movement it made to 2875,
though i still think market will still break this level and to the monthly
pivot area which is above the daily resistance level.
this is where i will be taking my sell on eu like i said on sunday.
so watch out for this area.

for gold, i also said i expected an upward movement of gold which
i still see as a retracement because gold is bearish and still heading to
1530 before anything, but right now gold has broken the weekly pivot area
and also the daily pivot level, which makes it a good place to take a sell on the
precious metal, so right now, its either i take my sell at this present price and place stop
just 30pips which is above the monthly pivot area which is a good place or wait to see if there will
still be some kind of retracement up to place a sell at pivot.

so thats it for now, my one cent on the analysis

UPDATED: SELL TAKEN ON GOLD AT 1597.59 WITH STOP AT 1601.14

see you all later,

by the way, my ej trade hit my stop loss as a result of not monitoring the trade.

anybody on a ej buy cos i am as at friday.
concerning eurusd for this week.
my analysis tell me that from the monthly chart, the candle stick closed
below the previous one and also broke the yearly pivot on the chart.
this suggest that eurusd is in for a fall of the market.
so the bears will keep rolling.
that is what i will be watching out for in eurusd. SELL.
from the 4hr time frame, am seeing a push up to 2875-2900 area
which is a retracement to the 50% fibo level area of which you can see
the reaction of price around that area.
so i will be placing a pending sell on this currency to sell at that area.

For Gold, trend is still bearish though price rejected the weekly support level,
which means that we might also see upward movement in price in gold to 1625-1630 area
which is where i will be selling from should price gets there. i still see gold going down to 1530 so also watch out for this.

have a wonderful week.

just closed my eu sell trade since yesterday with 175 pips....
might not even trade again today since i have other things am doing and eu don give me wetin i need...

naijababe: I have been reading this book that dboy posted here and believe me I am still doing many things wrong psychologically. I have removed all my trading apps from my phones and other mobile devices, so, now I have to physically be in front of my computer looking at my charts on an MT4 screen to either open or close a position. The idea being the less I look at my trades the less likely I am to interfere with it.

I opened the position via a pending order this morning and closed it at 121.10 a few mins ago because I could see some support there even though there no lines showing it. This is how i want o trade as opposed to sitting in front of my screen all day.

you have said it all. seriously i was like that before i started doing exactly what you are doing now, but thanks to my laptop i was able to learn what you are experiencing, when my laptop battery got spoilt, i had only little time to watch the market as before because of been scared of light going off while i was in a trade, so i just take my trades and forget them since i have my tp there...
i started just at the beginning of this month and av just crossed 1000pips so far and the month has not yet ended...

seriously one needs to learn more about the psychology of trading.

tp on ej hit for 100pip.
still have my eu sell on from around the high of today with 25pips which i entered before going to sleep. my modem not working so dont know why? so i can see the platform to know where price is... just saw the pis naijababe posted and saw where price of ej is.....
someone should pls upload the eu chart for me to see.

Oga endfx, very great share with your strategy that you just revealed and gave out.

like naijababe, i also changed the moving average to 8sma also i will also like to pass across a message
to fellow traders that are using this strategy to trade especially those that want to stick to the 1hr timeframe

i will like to talk about this setup more briefly according to my own analysis
with what i have seen so far and also use this to pass a very important message across.

in the chart below are trade setup calls on the 1hr chart. while there are some
of us that dont go below the 1hrm tf like me so i will be strictly the 1hr tf if am to trade with this strategy.

Number 1 indicated a buy trade setup which is in line with the strategy that endfx posted.
note the previous candle and also the fact that the price is just near the pivot level and yet to break it but Its still a chance to take the trade because the the risk to reward ratio looks very good should it break pivot which it did.

Number 2 also shows another setup with the strategy also confirming the trade, but now you can see that
where price is, is not really okay because its not near either the support or the resistance so ordinarily
i would not take the trade, but due to the fact that previous candle has been showing a rejection and also a consolidation
around the area, then i would risk taking the trade with stop right at the previous high.

Number 3 still shows the same thing for those that have missed the previous trade call and as you can see the that best trend
is already moving down which makes it a valid entry for the trade.

Number 4 Now this one show the perfect entry point of the trade, why do i say this, with all the setup in placem
price closed above the moving average just after the break of the resistance... this is what i would watchout for...

Number 5 also, look at the previous candle which is a rejection, after which price closed below the moving average which signals the
entry of the market for a sell. Prior to that, you can see that the market show already shown a rejection of the resistant level which makes the trade very valid
though the risk was increased a bit.

Number 6 to show another entry signal for those that missed the last one to enter but note that its not all the time that you see this that you take it because of the risk to rewards ratio

Number 7 shows another nice trade setup for a buy. Also notice that before the signal was given, there has been a sign of reversal for a buy in the market which was what give the entry.

Now why am i saying this since you already know the strategy...
most new people that are just starting out trading forex just look for the signal and take it without looking to see whether the signal was correct or not.
if you are getting a signal, know the reason why the signal will work like previous price rejection in either the support or the resistant area, candle stick pattern like pin bars which give you
more valid signals.

Dont just trade because you are getting signal, trade with the reason behind the signal that you are getting.

Hope this helps someone out there...

stop on ej hit....
total pips today 245pips...
see you all next week.