₦airaland Forum

I'm a Forex trader and I am specialised in trading EURUSD, GBPUSD, and USDCHF, most especially EURUSD, because I have a strong understanding of it history. EURUSD also has a strong positive correlation with GBPUSD and a negative correlation with USDCHF.

I realised that no thread actually does justice to Forex trading, so I am opening this thread for people to update their EURUSD analysis. Make sure you always update your analysis with a picture so as to make other traders know what you are passing across. I will try to keep this thread alive, and I want us all to do the same. As I like giving back to the community that made me.

GBPUSD and USDCHF analysis is also welcome because of the strong correlation with EURUSD.

In Forex, I'm a day trader as my outlook doesn't go beyond holding for 6H - 5D, so it's advisable to always check for my change in outlook.

Please let respect each other on this thread.

EURUSD has been on a downtrend for some time. We just have to wait for the opening position today to see the right path to take. Good morning.

BRO The FX markets these days are like okporoko, dry stock fish

How are you guys coping?

VeeVeeMyLuv:
BRO The FX markets these days are like okporoko, dry stock fish

How are you guys coping?

Not at all even with 0.01 I still make 20-30USD per week. I only trade EURUSD, GBPUSD and USDCHF. I don't meddle with USDJPY and AUDJPY because it's fundamental, I only trade it when there is a clear sign of trend and even at that AUDUSD and USDJPY can switch trend anytime.

My strategy is always to follow the big players, Weekly and Daily then throw in my lot at the 6H, I only use 1H entry and exit.

Modified: Look at the 12H timeframe on EURUSD, you will agree with me that there is a clear trend going up and down which winners follow. Now go back to the 1H, you will get confused because News gives fake out for 1H traders which they lose a lot.

If this thread is active from other traders, I'll put effort in dropping signals.

pook:
Not at all even with 0.01 I still make 20-30USD per week. I only trade EURUSD, GBPUSD and USDCHF. I don't meddle with USDJPY and AUDJPY because it's fundamental, I only trade it when there is a clear sign of trend and even at that AUDUSD and USDJPY can switch trend anytime.

My strategy is always to follow the big players, Weekly and Daily then throw in my lot at the 6H, I only use 1H entry and exit.

Modified: Look at the 12H timeframe on EURUSD, you will agree with me that there is a clear trend going up and down which winners follow. Now go back to the 1H, you will get confused because News gives fake out for 1H traders which they lose a lot.

If this thread is active from other traders, I'll put effort in dropping signals.

Nice one Boss

So Boss how do you deal with the indiscipline demon? The demon called indiscipline?
The demon that won't allow a trader rinse and repeat.

VeeVeeMyLuv:
So Boss how do you deal with the indiscipline demon? The demon called indiscipline?
The demon that won't allow a trader rinse and repeat.

I understand you very well. This is the battle many trader have to deal with at first.

Firstly, you must know who you are. And this majorly because most of us start our journey on the small hour time frame, you want fast result. You want to trade and pick your profit in the next hour, then we fall into the trap of trading and watching then sometimes we trade the news and the market pulse on us, then we take loss in a losing position then dive in repeating same.

Secondly, if you have to add more capital, trade the bigger time frame. Monthly traders look the weekly traders like fools, the weekly traders looks the daily traders like fools, so the daily trader looks the hourly traders like fools, even the hourly traders looks the minute traders like dingbats. You get the idea. It is also noteworthy that the bigger the timeframe the lesser the noise and the rest of mind.

Thirdly, for whatever strategy you adopt make a decision from the bigger time frame, if u are Scalping on 15minutes and it says Buy on the 12H or daily, make sure u are Scalping up, scalp with the big player and vice versa.


Lastly, Jag of all trade, the master of none. Pick up 1-3 pair and master it, ignore the rest. As for me EURUSD, GBPUSD and USDCHF I have been trading for 4yrs, I get no surprises. Infact I know what's gonna happen every point in time, my prediction are always 90% accurate even sometimes if data is dropped I know if the data won't be followed by market sentiment because I have mastered it. For other pair I could be very wrong. So stick to the pair you know.

I hope that helps

pook:
I understand you very well. This is the battle many trader have to deal with at first.

Firstly, you must know who you are. And this majorly because most of us start our journey on the small hour time frame, you want fast result. You want to trade and pick your profit in the next hour, then we fall into the trap of trading and watching then sometimes we trade the news and the market pulse on us, then we take loss in a losing position then dive in repeating same.

Secondly, if you have to add more capital, trade the bigger time frame. Monthly traders look the weekly traders like fools, the weekly traders looks the daily traders like fools, so the daily trader looks the hourly traders like fools, even the hourly traders looks the minute traders like dingbats. You get the idea. It is also noteworthy that the bigger the timeframe the lesser the noise and the rest of mind.

Thirdly, for whatever strategy you adopt make a decision from the bigger time frame, if u are Scalping on 15minutes and it says Buy on the 12H or daily, make sure u are Scalping up, scalp with the big player and vice versa.


Lastly, Jag of all trade, the master of none. Pick up 1-3 pair and master it, ignore the rest. As for me EURUSD, GBPUSD and USDCHF I have been trading for 4yrs, I get no surprises. Infact I know what's gonna happen every point in time, my prediction are always 90% accurate even sometimes if data is dropped I know if the data won't be followed by market sentiment because I have mastered it. For other pair I could be very wrong. So stick to the pair you know.

I hope that helps

Thanks Boss
Your last paragraph is so apt, very powerful principle of life
It shows you know what you are doing.
People tend to downplay, underate, overlook this simple yet effective principle of life, not just trading, Life generally. If very painful to see people struggling through life because of this very fact.

Firstly, normally I don't trade during the Asian Market because mostly it's sideways, but if I have made enough profit during the New York or London time, I can hold during the Asian Market hoping to continue the trend. I always like my entry in the London Open.

The secret of EURUSD lies in Technical analysis, fundamentals don't do much because fundamentals will influence for a few hours, and it will just go back to the trend it left.

You always have to backtest your strategy. Mostly here, my strategy will be more of trend following while targeting next zone (resistance or support), and I will switch once I notice a change in direction.

When you are trading EURUSD, I don't advise you to hold like some fortune teller. Take your profit and always listen to the market's body language and don't predict, move with the market.

The market opened at exactly 11pm WAT last night. This is around 5:30 a.m. WAT, so it is about 6 hours and 30 minutes since the market opened. The Sydney/Asian market is known to be sideways, and the market barely moved, as seen in the attached 4-hour chart. This is why it is never wise to open a position in the Sydney Asian market.

We are yet to know the direction in which the market will be going. We have to wait it out till the London open today.

Price is on a critical zone.

pook:
Price is on a critical zone.

Finally it sold Boss
Hope you take the trade?

VeeVeeMyLuv:
Finally it sold Boss
Hope you take the trade?

Yes, I rode the trend even USD JPY on the 12H, I'm about to ride it downtrend.