Davigled:


Baba no fear, Gold sell is still in play, just look at the daily and 4h chart, you see that wickedly looking wick...,

the ball remains in the court of the US Treasury and federal reserve. Yellen and Powell go unleash volatility tomorrow, I will write a little epistle about it later...

Davigled:


Stop moved to break even on this trade, as of the time that I checked the chart, price is about 50pips to my TP. hopefully it gets hit, as RR is 1:4

Jameselias:
ICTcadet

DXYY:


But uno explain like this give the guy , you just promise 20% come rain come shine.

TradingGod:
lol

Thanks for the update

cc DXYY

Peterfx01:

If we ever have to discuss in deep I'll for sure let him know that one certain

GabsonFX2:
100K Phase 2 - Infinity Forex Funds

Last week, I stated that I gave myself 5days to complete this phase 2. It's been tough but almost there.

82 Trades, 61 Wins
Win rate: 75%

peteregwu:
On EURCHF, my biase is a move to the upside towards 0.95508. Risky.

DXYY:


Check the minimum amount that can enter your dollar account

GabsonFX2:
100K Phase 2 - Infinity Forex Funds

Last week, I stated that I gave myself 5days to complete this phase 2. It's been tough but almost there.

82 Trades, 61 Wins
Win rate: 75%

gnykelly:


I have more than the minimum.

Yet my card won't get top up from my USD wallet

Davigled:
Good evening folks, so tomorrow promises to be superbly interesting as there are market moving events that will definitely rock the market across all asset class.
The first event is something that you may have never heard off in the trading world, but it's quite popular in the investing world and interestingly, the Federal Reserve will also be paying attention to it. This is the US Treasury Quarterly Refunding Announcement by 2.30 pm GMT+1.

I will try my best not to write a long post but here's a summary of what you may wanna know about it;
The US Treasury department is responsible for managing the US government's finances, and it conducts a quarterly refunding process to raise money for government spending, manage existing government debts and indirectly influence interest rate decisions.
The US Treasury quarterly refunding announcement, a regular update by the Treasury Department, outlines the government's borrowing needs and debt issuance plans for the upcoming quarter, specifying details of Treasury securities auctions. This announcement impacts Treasury yields as it signals the government's borrowing intentions. An increase in issuance may raise yields due to higher supply, potentially lowering bond prices, while a decrease could have the opposite effect on yields.
Now investors are expecting the US Treasury to release a higher quarterly refunding announcement and in the event that it does that, this will definitely make bond yields to rise which will definitely spill over into the USD as rising yields tends to make the dollar stronger.

Now the second event of equal impact as the first is the much anticipated FOMC meeting tomorrow by 8 pm GMT+1. For folks that may have been tracking or paying attention to the US economic data will know that it's still in a pretty good shape compared to the other G7 economies. So in a nutshell, a stronger economy means no rate cut (for now). The markets expects a somewhat hawkish remark from Powell pushing back on an early rate cut reaffirming the higher for longer narrative. The US economy has already achieve a soft landing and due to that, the Federal reserve do not need to be in a rush to cut rates.

Here's my take; if we get a higher quarterly refunding announcement that beats market expectations from Janet Yellen and also a hawkish remark from Jerome Powell (#anicingonthecake), we could potentially see bond yields going through the roof with the dollar hitching a ride on their back, while all risk asset class plunge to hades.

Here are the levels I'm watching;
DXY: I expect price to breach the 104.3x which is the high of Dec and BSL is residing there. And also, price has been finding support in the BISI of Tue 16 Jan 24. But in the scenario that things eventually goes south (you know shit happens at times), we could see price crashing below SSL residing at 102.7x.
Gold: for the previous 2 weeks, I have been anticipating and I still do expect a crash to the 2001 level and subsequently to 1980 level. I feel that Gold may find resistance at the 2040 level due to the huge wick rejection of 7am EST Tue 30 Jan 24 on the 4h chart. Should it hold, I expect it to journey downsouth, but in the case that it breaches 2040, we may see it go far north to 2060ish zone.

Pls don't mind all my gibberish as you definitely don't need to know all this to be a profitable trader, this is a new hobby that I have found to make myself more productive. Cheers and pls trade safe tomorrow as it's going to be crazy violent tomorrow, only proper risk management will definitely be your saving grace...

Geovanni412:


Correct me if I am wrong...

I think fundamental analysis is better for long term traders

All this long grammar is too much for one day trade wey fit still cut like bet9ja ticket

samfelly:


Yetown and Kaybee7000, make boss still give una extra one month, abi make we fold it here?

Kaybee7000:
😂😂😂😂

Sam tenks for calling my name here o,ha just made my 10% in my sit-up challenge now, hamdulilah

Davigled:
Morning folks, Gold sell limit at 2038, stoploss at 2043

Davigled:


Ogami, in all honesty you maybe right sir. I use to think like that, but the saying that says there are many ways to skin a cat is really true, I use to think that only position traders or maybe swing traders incorporate fundamentals analysis, but I have come across scalpers that trade based off fundamentals, and day traders too, one of my mentor on twitter whom I am learning fundamentals from is a scalper, and he scalped both sides of Gold yesterday based off the geopolitical tensions in the middle east which made him long gold and then later on short gold due to strong economic data (JOLTS and consumer confidence) which made gold spike down. i know that you know about floor traders which are mostly scalpers or day traders and they also trade off fundamentals too. this are things that I came across on my research which convinced me. but to be candid it's not the only profitable way, I am doing this because I've recently develop interest in economics especially macroeconomics and I plan on getting a certificate on economics in the future to add to my degree in engineering 😁

a big shout to galleryeasy, he was one of the folks who inspired me to study fundamentals too, pls newbies I am not trying to paint a glamorous picture on fundamentals because honestly it's more harder than technical analysis and I strongly will never recommend it to a total noob, make sure you have a strong technical before you even think of adding fundamentals too it.

GabsonFX2:
100K Phase 1 & 2 Completed - Infinity Forex Funds

Certificate issued (attached)! 100K funded in less than 5mins