natruetalk:


no lele 2day na friday

commodities shop closed

as 4 d EU, waiting to c if she can reach 1.0432 zone new traffic junction 2day to close shop or i .....

natruetalk:


commodities shop closed

as 4 d EU, waiting to c if she can reach 1.0432 zone new traffic junction 2day to close shop or i .....

close Eu trade with +115pips

Shop closed 4 d weekend

fxfavour:
Wat a trending week..my $50 deposit now $600+ just in 2 weeks..

Nice one there. Happy weekend y'all. Rise and shine.

naijababe:


Look at the area marked in red, usually when I see that I do a runner Note how price powered through all the other lines except for the area of interest. In general, I don't wait to find what will happen, I just pocket what I have and leave to trade another day.

hmmm that's a new one sha. Taken note of that

the week ended well, we look forward to more greens next week

naijababe:


Let me make it simpler, the best candles to trade are 3 black crows/ 3 white soldiers, engulfing patterns( only one candle should be engulfed though) & railroads, pin bars does not have the same success rate as the other three patterns. This sell is based on a railroad as you can see.

What's is Railroads and do you have picture to any of these Patterns or link to see the picture?

next week is another trading week.

blkmum700:



What's is Railroads and do you have picture to any of these Patterns or link to see the picture?

https://www.dukascopy.com/fxcomm/fx-article-contest/?Price-Action-Trade-Set-Up&action=read&id=1227

They called it a railway track here but I have always called it a railroad

USD: Fed Meeting – while we continue to look for a
hawkish change in Fed language, a surging USD
increases the risk of a dovish Fed surprise. Given
extended short positioning, any EUR/USD squeeze
could be significant.
GBP: UK earnings – wage price growth may have
slowed regardless of further improving labour market
conditions. However, we expect such an outcome to
be only temporary.
JPY: BoJ Meeting – an extension of policymakers
previously aggressive inflation targeting timeframes
could weight on the currency.
AUD: RBA Mintues – next week’s minutes will confirm
that additional policy easing remains on the cards
maintaining pressure on the currency.
NOK: Norges Bank – despite expectations the Norges
Bank may keep rates on hold to the benefit of the
NOK.

Saw that on FB... Meanwhile, wish everyone a happy weekend.

Fundamentally and MACRO ECONOMICALLY speaking ECB is injecting about $60B every month in form of BOND buying.This was made available during the last ECB meeting. The Bond buying started last week friday. They did this to save EURO because the last economic parameter (INTEREST RATE)to weaken EURO has been exusted. This will weaken EUR in the long run, They want to save GREECE and EURO because if Greece exit from euro, there is high probability that all the PIGS will exit sooner or later but more sooner than later. These three things(low oil prices, dollar strength and PIGS problems) will fuel the momentum of dollar and euro parity by year end.

Owliver:
A question has been hanging in my mind of late... What's really the decline in EUR/USD to the extent of approaching 1$=1€... Is it the greece debt crisis or the strength of dollars due to dwindling oil price

Advice, do not stand on the way of downward movement of EURUSD no matter how "good" your technical analysis might look.

I THINK THIS CAN HELP SOMEONE.

Are Dynamics the new Technical Analysis?



Trading dynamically is probably the most important step you can take if you seriously want to give yourself a chance of banking regular and reasonable profits. Yet it’s an area that’s largely ignored by novice traders.

Trading dynamically, means adapting to what the markets are telling you. This doesn’t mean ‘making it up as you go along’ – instead it means making subtle shifts that will maximize your chances of winning.
If you ignore this, you’re sabotaging your own success.

Dynamic trading is all about knowing the instrument you’re trading and what it’s likely to do. That means following the trading range of that instrument. The reason for this is quite simple. If you don’t know the current trading range of an instrument then you will not be able to set realistic profit targets and stop losses.

As a simple example, if an index (and I will take the FTSE as that example) current trading range is on average around 70 points then setting your profit limit at 150 points is probably going to be hard to achieve within a sensible timeframe.

After further analysis I decide that I am going to place a buy bet on the FTSE and based on the dynamic information above I will set a sensible profit target within the range of 27. To protect my trade (just in case my direction analysis is wrong) I will place a stop beyond the current trading range as this is beyond the probability of being hit whilst the trade is “waxing and waning”.

By adjusting the range daily i.e. dropping the oldest price and replacing it with the newest price you will be keeping a track of the effective trading range ‘dynamically’. This can be done by keeping a simple spreadsheet that averages the last day 5 days as data is entered on a daily basis.

What we can do now is set our profit target within the range. For the purpose of this demonstration I will set this at 27 which is very achievable using current range for the FTSE. Now, being a cautious risk-adverse trader I am going to use a stop loss and set this beyond the current trading range (in this case 60 points away).

This will give me an advantage and boost my chance of a successful trade, yet still protecting myself. Without this dynamic information, I’m trading blind, and could have set my target for 60 points. If I blindly asked for more points than the indicated range then I would be likely to fail, or, at best, wait longer to achieve (and any extra time spent in the market, is time with your capital at risk).
Longer term dynamics

The exercise described above is chiefly a tool that day traders could use, but it can also be useful for someone who intends to make a longer term investment, say on a single equity.


As a rule of thumb, if you are using 5 days’ worth of data to establish your “dynamic” profit limits and stop losses, then this is length of time you should allow for it to mature.


In summary, we are still going to have trades that are destined to lose in our portfolio, but by sensible placing our profit limits and stop losses “dynamically” we WILL give our trades a better chance of success.

And with a clear timeframe for our trades, we’re not in any doubts about when to hold and when to fold.

Till Next time.
bye for now.

naijababe:


Closed my sell at 235 pips, here is why; look at the long shadow at previous support I don't like such things, with an R:R of 1:10 I am choosing to waka. Awoof dey run belle, I would have kept the position if the move had powered through 17635 area but next week still dey jare

Hello ma long time, I love this your chat.What period is your MA? and the three Best candles you said to look out, does it work for all TF and all currency pairs, Oil and indices? please I need your response ma

naijababe:


https://www.dukascopy.com/fxcomm/fx-article-contest/?Price-Action-Trade-Set-Up&action=read&id=1227

They called it a railway track here but I have always called it a railroad

Alright,thanks

Bennyhawk:
Hello ma long time, I love this your chat.What period is your MA? and the three Best candles you said to look out, does it work for all TF and all currency pairs, Oil and indices? please I need your response ma

Yes! That MA is period 20.

naijababe:


Let me make it simpler, the best candles to trade are 3 black crows/ 3 white soldiers, engulfing patterns( only one candle should be engulfed though) & railroads, pin bars does not have the same success rate as the other three patterns. This sell is based on a railroad as you can see.

the power of candlestick knowledge complement the use of indicator.candle stick and price action is a must to learn in fx

Owliver:
if you mean the "line between the open and the high of that particular candle" I don't understand What has that got to do with the bulls taking charge. Lol

according to steve nison trade like samurai, you make use of candle formation for both entry and exit.it is good to pocket what the market gives to you and wait for another trade.she took profit from that point not because she is afraid but because the market is showing sign of weakness.the candls are getting smaller and shadows is long in a strategic zone.in this case its either you trail or take profit and wait for the next set up.the rules is always take what the market gives to you and wait for next formation.she can wait at that zone and see the reaction of price if bridging and breaking the zone down ward,wait for possible retracement and then look for entry since the price is moving down.the trend is always your friend.its better to take what you have and wait for another set up than being greedy trying to convince yourself the trade will still vomit.that zone is a support zone, so no need fulling around when you've got profit to take

naijababe:


Look at the area marked in red, usually when I see that I do a runner Note how price powered through all the other lines except for the area of interest. In general, I don't wait to find what will happen, I just pocket what I have and leave to trade another day.

just one of the rules in trading.taking what the market gives and wait for another set up around that zone.no need smilling with the market in such zone.one lesson to learn.its all about discipline and patience.taking profit and wait for next formation around that zone is more better than leaving the trade and thinking it will break the zone.anything can happen within that zone but let it be that the profit has been taking before anything happens.

Weekly Forex Market Analysis in Progress...

Am expecting the EU to gap upto 1.0544 before continuing the down trend

seyejohn94:


Bought gold wen it closed above my level.... Letz see how it goes....

Nothing is guaranteed...
Happy trading...

Price hit adjusted stp on this trade....

iheanyiebeneze and fxstory thanks to you both for your taking your time to chip in those points. I rili appreciate happy sunday all...

naijababe:


https://www.dukascopy.com/fxcomm/fx-article-contest/?Price-Action-Trade-Set-Up&action=read&id=1227

They called it a railway track here but I have always called it a railroad

Thank You for sharing this link very Interesting

Looking @ gold... Am still bullish biased... Will look for a re-entry signal...

am going bearish on chf/jpy, gbp/jpy and bullish on usd/jpy, usd chf........ what is your view to my analysis.......

Thank God new week new dollar

currently enjoying Live interactive session of Prof Osinbajo @ Town Hall In Maryland while watching 2 trade Usd/cad base on reaction @ d cycle zone

trade responsible

green week ahead

bonjour a tous.

just place a buy stop order on nzdjpy at 90.00
it may not be triggered today cos trade taken based on weekly chart.
let's see how it plays out.

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

PRICE IS KING. FOLLOW IT WHEREVER IT GOES

Sold gbpnzd at 2.0113

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

PRICE IS KING. FOLLOW IT WHEREVER IT GOES

Mrng all..hope u all have a nice wkend

am going bearish on chf/jpy, gbp/jpy and bullish on usd/jpy, usd/chf........ what is your view to my analysis.......

stalking gbpchf
will be going short any moment