₦airaland Forum

PIPnator10:
Legend kwa.. bro o..
How you been brother..
I see you are killing it.
I'm back to learn more from everyone here.

I have been good.
Trading has been okay.
Ready to go live.
Definitely doing that next month or September as planned.

For those of us just starting, If you have a bad trading day or week.
Relax. No one consistently publicises their Ls.
Doesn't mean seasoned traders are not having their stop loss hit too.
Just patiently wait for another trading opportunity according to your system. Don't hurriedly look for ways to make profits.
Don't do revenge trading.
If you have a good system, you will get rewarded for doing the same things if you have proper money management habits.

redsox11:
I want you guys to start checking up on this for confluence. It doesn’t matter what system you're trading.
This will only take you 15 seconds to look up. Added confluence to your already good system.


You’re trading on;

1hour chart, look for AB=CD pattern on 4 hours chart for confluence
4hour chart, look for AB=CD pattern on daily chart for confluence. etc.

Powerful tool to have in your arsenal as a trader.


Ps: When I want to enter a trade and notice an AB=CD pattern confluence, I smile to the bank

Thank you.
Learnt from this post.

PIPnator10:
Hey guys, hope we are all doing great.
Thought to start posting again after my brief hiatus.

The legend is back.
Welcome back boss.
Looking forward to learning from your charts again

femora007:
yes on friday, and i took another sell at 0.7520 today, risk free already, tp same as yours

Alright.

femora007:
right on point, I'm on this too

CADCHF
Your tp would have been filled by now
I am still holding.

I have enough reasons to think AUD will be strong medium to long term.
Looking forward. I will only be holding longs on AUD from now on till further notice.
Still buying NZD too. Doesn't look like the strength is over. There could be retracements here and there but to me, looks likely to continue the gains.

alphaNomega:
Looks like it wants to form the second shoulder of an inverted head & shoulder pattern.

Yeah. Looks like an inverted head and shoulders pattern.

AUDCAD
Manually closed my intiital trade but I should not have.
Decision time for AUDCAD.
Plan is to wait for break of both horizontal and diagonal lines. Then to go to long on retest.

infofirst:
Perfect boss. Even when one trade short term, having long term perspective helps make short term gains too

Thanks boss. True

Mftivi:
Great trade. True financial freedom through investing in the financial markets comes through understanding that wealth is patiently built over time.

True.
Wealth is patiently built over time

bojbest:
Shorting the pair Sha. But I tend to adapt to the market and leave with when my citerias are met

Citeria of exits are
1) Stoploss activated
2) 4hr rejections at previous 4hr low
3) daily rejections at 61% fibs of the daily uptrend then I join buyers.

If I’m wrong, citeria 1 will have been executed automatically

You know that at the end of the day, it sometimes depend on how long you are looking to hold the positions. You know I tend to hold long term. There may be other tradeable movements which I tend to ignore. So won't be surprised if you are right.

bojbest:
Do you have any Idea on NzdUsd?? Long or short?

Been long for some time.
Looking at 0.6930
But I may be wrong though.
I talked about NZD showing some strength. Looked at different pairs and it looked that way. So I have only been buying NZD. That's why I have sell positions on EURNZD and GBPNZD. And a buy on NZDUSD

bojbest:
I swear he is not a trader, he’s an Investor.

Na only Investors dey wait months before closing trades.

Everybody has his style sha. Someone shld choose which ever suits him or her

Exactly. I feel the long term pattern suits me better.
It's more relaxed. I found out that I get it right more times than wrong with my long term speculations.

VeeVeeMyLuv:
brilliant, absolutely.

you should be a warded the best trader for the month

Thank you.
We keep learning and improving.

You will take some Ls here and there
But these are the kind of trades that compensate and leave you with profits. More than 800 pips in profit. More than 400 pips already locked down. And will move SL to book more soon.
For learning purposes, we just starting can refer to the original post on GBPNZD for the analysis.

From looking at the picture.
There was a downtrend.. Then correction which formed a wedge pattern. Breakdown of the wedge pattern led to resumption of downtrend. That's what I think.

bojbest:
All Gbp pairs are weak. I think the london bridge has fallen

They have been falling for ages.

PJAMES1:
GBPCHF
Demand zone..
One of the more Risky trades. As this is a blind entry. That is, I don't have a 'confirmatory' price action set up yet.
Conservatively, one could wait for a break of the horizontal resistance and moving average. And then a retest to go long.
RRR is favourable though.

Stopped out.
Will keep watching.

PJAMES1:
AUD poised for some significant gains against some pairs. AUD looking strong medium to long term.
Charts coming before market open next week.
Just my opinion. I could be wrong.

If these make any sense.
AUDNZD. Wait for a decisive break of the upper trendline.
AUDJPY. Inverted Head and Shoulders pattern.

PJAMES1:
AUDCAD.
I may go long on breakout from the descending channel.
Entry criteria for me will be a break out of the channel, break above the moving average, and a break above horizontal resistance. All three must be present. Preferably with some form of retest and a reasonable bullish price action.

Rushed an entry. May turn out good
But For a conservative entry, wait for the criteria to be met.
Close above the moving average already.
2 to go.

femora007:
But my own tp is not up to your

0.7480 area?

femora007:
right on point, I'm on this too

PJAMES1:
Closing the upper trade at about 390 pips. Held the position for more than a month.
Holding the lower one but it is now a risk free trade as stop loss is at Break Even already.
I think this will continue lower.
I may sell again if the next support (1.8980) is broken but I don't know yet.

GBPNZD.
NZD still looking strong.
Missed the next opportunity to sell at the 1.8980 area.

Opened trade over 500pips in profit. I have moved the stop loss of the opened trade from BE to lock down 300 pips profit.
Now we look to the next support. There may still be an opportunity to sell there.
If things, however, change. I may have to exit with the 300pips.

PJAMES1:
Closed for over a hundred pips..
Now waiting to see if there would be a bearish price action.

CADCHF
As explained in the previous posts. I found an entry.
Will that supply zone deliver again?
Let us wait to see.

AUD poised for some significant gains against some pairs. AUD looking strong medium to long term.
Charts coming before market open next week.
Just my opinion. I could be wrong.

PJAMES1:
CADCHF
Watch for bearish price action at 0.7610 area.
Strong Supply zone.
Also looks like a triple top can form.
However wait for definitive price action if it reaches that area.

Went long for the present trade following the formation of a clear double bottom.

Closed for over a hundred pips..
Now waiting to see if there would be a bearish price action.

infofirst:
Wish us all a profitable trading week ahead. As a reminder, be mindful of your risk each time you choose to open a trade. No one is too big to fail in fx but it is almost impossible for a discipline and low risk taker to fail. Always trade for another day.
Learn and learn, proper understanding of how prices move is very important.

Note: I am sharing this just after I saw a respectable Pamm account manager I also recommended here lost it. @Divinepips123 portfolio crumbled. I took my lessons too. No Matter how confident you are, when you risk too much, you are gambling and not trading. I definitely will be reducing my risk too. Slow and steady wins the race.

Thank you sir.
Risk management makes the difference.
One must always trade with this mind set..
'I can be wrong with this trade'
'What would happen if all my trades go against me?'
Would I still have enough to continue trading?
For every trade..
One can be wrong.

Managing risks is what is sustainable.

CADCHF
Watch for bearish price action at 0.7610 area.
Strong Supply zone.
Also looks like a triple top can form.
However wait for definitive price action if it reaches that area.

Went long for the present trade following the formation of a clear double bottom.

GBPCHF
Demand zone..
One of the more Risky trades. As this is a blind entry. That is, I don't have a 'confirmatory' price action set up yet.
Conservatively, one could wait for a break of the horizontal resistance and moving average. And then a retest to go long.
RRR is favourable though.

AUDCAD.
I may go long on breakout from the descending channel.
Entry criteria for me will be a break out of the channel, break above the moving average, and a break above horizontal resistance. All three must be present. Preferably with some form of retest and a reasonable bullish price action.

voraz:
I had a very early entry too, since the beginning of June.... it's in profit now too

And looks like it will continue down. I am still holding for now

mrikay:
we dey wait

I have not forgotten. Will talk about the strategy. Waiting to close my present trades. My trades take a while. Want to use them as examples.