charly20:


Quick question,
Why do you think dollar will fall?

I'm seeing the opposite.

good evening colleague base on probability am not saying it must fall,besides I can't really give you accurate direction until 30mims to news release,now looking at the structure,we have a falling Dollar already struggling to go back up but mffff, private nfp companies in USA did a consensus yesterday it fell the dollar hard,at mostly they use it to gauge the government NFP,by 12:30gmt we have news oof jobless claim coming up,it might push the price back up then NFP tomorrow might push it down

charly20:


News only purges liquidity and hastens the normal direction of a trend.

But if one is inexperienced,na to jejely comot body before account go bleed

you are right bra,news complete structure,and I make 80% of my profit on it,I was lucky with oil inventory news yesterday,the way am looking at the structure of the market NFP Friday will fall the dollar but an still checking not yet confirmed

good evening colleagues, sorry av been away,on an emergency call,and got injured by a patient(wild Australian horse)of mine that was affected by the wildfire',and the lockdown here in aussie is getting everyone grumpy,but everything is in control,still gat audchf running, might not take more trades till my darling NFP news comes on friday

Forexislife:
No trade for me today.

you have still traded,not trading is still grading

skylane:
first stop I have Eurcad ,a good sell is what I see waiting for a sell sigi,while cadchf is riped for a buy,nzcad looking good to sell,

so fast din't expect

first stop I have Eurcad ,a good sell is what I see waiting for a sell sigi,while cadchf is riped for a buy,nzcad looking good to sell,

good evening colleagues, hows your weekend, now we traders are the workers on the planet excited about Mondays
now this week is gona be indecisive for Dollar,and lest I forget a very important news will affect the dollar this week,its the NFP news week (one of my most profitable trades made from this)so am excited, now the dollar index like I just shared fell down due to the new policy made by world businesses banks,so we might see a few retracement then a fall but by midweek we shall be able to decide which direction the dollar will go when the NFP shall be released,but for now I stay clear or Dxy pairs,

charly20:



This what I saw on dxy... What do you see?... It seems she may move lower a little bit before continuation northward

I see a little reversal or pullback then a fall,but will be sure by tuesday

happy Sunday traders,please let's begin to roll in the analysis for this week coming,As for me Dxy(dollars index)might be a little unpredictably but strong indications shows an early retracement but a continual fall as a result of the easing of stimulus package and the result of the Jackson hole meeting which saw investors pulling out of the dollar and running to Stocks and commodities,(reason for the sharp rise in Gold et al) so a midweek bearish move. I see for Dxy ,but a look at other currencies we shall soon,by the way may this week be a pipful week for us ahead

abham:
Hehe, I’ll look into this as it’s my initial plan.

do it because its not easy to blow a demo account from 100k to 50$ that was the beginning of s new era in forex for me when I went on study leave

exmaysn12000:


I will recommend, not more than 1% of capital

yes that's the best but you know its too tight unless precision entry

Nigercity:


Thanks boss
This is helpful
Although I don't really understand the no 3 part (are the stop cleared)
Maybe you could through more light

you need to check the support you want to buy from or the resistance u want to sell from if a fake breakout has taken place

now there are rules before you enter a trade
1 check if the price is at a verified resistance and support
2 make sure your stop loss is not too tight but not more than 4% of your capital
3 are the stop loss cleared?
4make sure you see a reversal pattern or a reversal price candle stick pattern before you enter your trade
5 and the most important Patience to allow rule 1-4 happen before taking a trend in lieu with the trend direction,
are u clear?@ nigercity

now those areas I circled are the stop hunts by the big bank players,they are aware people has placed buy stops sell stop with stop loss above those resistance and support in anticipation but they just go activate them and change direction creating liquidity to move down or up,

Nigercity:


Yeah your are kinda right shaa, but how am I to know that my sl will be hit before reversing,
Since in some cases while am waiting for confirmations to avoid hitting my sl, the market would just leave me and trade off.....

@ skylane you can also help?

atimes I combine institutional trading system with my own strategy and it works very fine,most of these big institutions they like make the price move by first taking out stop losses that have been set before their big move,its called liquidity grabs, because without enough money in the market flowing price won't move well,now these are examples,

nairatony:
I also need a brown Bullmastiff puppy; WhatsApp only: 08057556838

what's your location

Drenimarcus:


Gracias hermano.

USA is my final destination no matter the country I find myself,nice adventure bro

Depressed111:




There is nothing special about gold, if u can trade one pair successful, u can trade any pair

OK boss,but will give it a shot soon

abham:
Just New York session and I try out some strategies I read about on the internet. Though the account balance I started with was $5k but it’s down to $3k. Not bad for someone that just started to trade the last two weeks of July. I hope to learn more even if the trades frustrates me at time and it looks like I don’t even know what I’m doing.

my brother blow that account to 50$ if u can then u are already half way to be a pro trader

VlamesIffect:


I hope say you trade the analysis boss

I don't trade gold for now am still a learner o,I only traded GU and Uc,

skylane:
what I see about Gold,gold is antagonistic of the dollar,experts have it that when the currency (dollars)is dwindling business men run to Gold for value,

remember this analysis guys Gold obeying

skylane:
we shall be having the Jackson black hole tapering news today it might cause dollar volatility, likewise Looking at the near-term outlook, much will depend on Friday's speech from the U.S. Federal Reserve Chairman Jerome Powell.

Powell will address the Jackson Hole conference at 15:00 BST where he is expected to touch on the outlook for U.S. monetary policy and the outcome could set in place the trends for the following week.

Markets are wanting him to directly address the Fed's plans for reducing stimulus (tapering its quantitative easing), but as we have reported here, investors might come away disappointed as the Fed has over recent years tried to steer away from major policy issues at Jackson Hole.

Nevertheless, any surprises, or simple post-speech position unwinding, could shift the Dollar and the rest of the FX market, the Pound included.

A positive outcome for the Pound would see the Powell warn that the outlook for the U.S. economy has deteriorated somewhat over the course of the past month owing to the rise in Covid cases.

If investors believe the Fed is not ready to start tapering in November we could see global equity markets rise, taking the Pound up against the Dollar and Euro alongside.

But any commitment to a September taper could work against markets and the Pound.let's see which way traders

as mentor will always say the news direction is already shown to you by the charts(expo) so never be scared of the news,

ZinoFasisi:


I don't understand the linking sha.
I screenshoted my FBS demo account.
I couldn't access my 2 Oxta Fx demo account and hotforex demo . I think they deleted it as i haven't verified.

I started demo trading with octa fx, then opened hotforex due to their monthly competition. 1 of the octa fx account I intentionally make losses from 5k to $100 for it to be more realistic to me ($5,000 was the lowest I available option). The last i traded with it, it was remaining $62.

The other octaFx demo account i just tested trading with the $5,000 I didn't really traded with it for long. I couldn't access both accounts now sha. Then moved to Hotfx, traded more of their competition which didn't do much in teaching patience. They closed my account cos it wasn't verified (i just did NIN last 2 weeks)

Then moved to FBS where they give $100 no deposit bonus with crazy rules (no scalping, trades have to be on restricted assets, can't trade less than 10pips must reach $200 in 20 trading days, can't trade more than 0.01, etc). I was able to move the account to $137 but was running out of time. So I just traded over risky traded till I lost the whole thing. I can't even find the trade history for that bonus account on FBS dashboard and my MT5 again

Last last i just settled with FBS demo account which allowed me to start with $100

register with exness dey have 5$ demo deposit that way u can work better

abham:
Demo, I’m not confident enough to trade a live account, I’m still an amateur.

how do u trade the demo

we shall be having the Jackson black hole tapering news today it might cause dollar volatility, likewise Looking at the near-term outlook, much will depend on Friday's speech from the U.S. Federal Reserve Chairman Jerome Powell.

Powell will address the Jackson Hole conference at 15:00 BST where he is expected to touch on the outlook for U.S. monetary policy and the outcome could set in place the trends for the following week.

Markets are wanting him to directly address the Fed's plans for reducing stimulus (tapering its quantitative easing), but as we have reported here, investors might come away disappointed as the Fed has over recent years tried to steer away from major policy issues at Jackson Hole.

Nevertheless, any surprises, or simple post-speech position unwinding, could shift the Dollar and the rest of the FX market, the Pound included.

A positive outcome for the Pound would see the Powell warn that the outlook for the U.S. economy has deteriorated somewhat over the course of the past month owing to the rise in Covid cases.

If investors believe the Fed is not ready to start tapering in November we could see global equity markets rise, taking the Pound up against the Dollar and Euro alongside.

But any commitment to a September taper could work against markets and the Pound.let's see which way traders

the correction is too steep ,what's yourctaje bosses

seems the Japanese yen is about to get to its feet once again,its a hard one to call,took me out for a 1% loss I entered too early let's see how the day goes

Zamanda:


Nice one. Next time just post it as you finish with such analysis

OK boss

abham:
Thanks boss, I just modified my post for the setup.

more oil bro

I totally forgot this guy I even forgot to post it after analyzing it here,

skylane:
update: news complete structure,update: news complete structure,

time to run bulls might be coming for revenge but we shall at least see a Triple top,I get this feeling it might break

abham:
For the first time, my trade hits 2 TP. Thank you all for the support and advice. I’ll add the setup and trades later when I get better network.

more blues to your account brah