₦airaland Forum

Toks2008: If you took a sell at the breach of 13027 you can make your profit target 12960 and wait for a mild bullish correction to sell even far down to 12820. Trade with care.

Happy pipping

12960 gave the bears a good fight but th bears seem have conquered so you can simly glide down with the bears to ultimate supp 12820.

Use good mm and trade with care.

Happy basket full of pips.

Toks2008: As we move towards Asian session, we are likely to see a bullish continuation up to res 13082/13120 or higher.

Traders are to look out for a breach of res 13085 to go with the bulls to 13120 but if euro moves lower to break supp 13027 before res 13085 then sell euro for good.

Trade with care.

If you took a sell at the breach of 13027 you can make your profit target 12960 and wait for a mild bullish correction to sell even far down to 12820. Trade with care.

Happy pipping

Toks2008: 13086/13120 are good tp points if buying euro and we may be selling back from these res points.

As we move towards Asian session, we are likely to see a bullish continuation up to res 13082/13120 or higher.

Traders are to look out for a breach of res 13085 to go with the bulls to 13120 but if euro moves lower to break supp 13027 before res 13085 then sell euro for good.

Trade with care.

sam ogo: How do we kw a genuine retracement or breakout?

I wrote something here about knowing genuine break out in the last season.

Toks2008: let me quickly drop a hint about break out confirmation.

If you are expecting a certain supp or res level to get broken, say we are waiting for res 12390 to get breached. You dont just buy immediately because price moves higher to maybe 12400.

You will wait for the close of that candle stick that breached that res to close. you may use the 30mins candle or the 1hr or 4hr for long term swings.

Then you can place a pending buy above that candle say 10/20pips above the high value(attach data window to your chart to view close/open/high/low values of candles).

so lets say the hourly candle breached 12390 and closed with high at 12401, a buy stop at 12411 will be ideal.
if the next candle triggeres that entry then you are 80% sure that that level has been breached and same goes for a supp level.

hope this helps.

mdsocks: Hmm..toks2008

What combination of indicators do you use?

Toks2008: Understanding trend in relation to time frames.

Many traders have heard the slogan "the trend is your friend" But the problem many traders fail is understanding the trend.

Now we need to understand one secret in trend movement and this has to do with time frames.

Now if you look at a particular currency using different time frames, you get to se different trend pictures. The euro is presently making a bullish correction on the monthly chart, a confirmed retracement on the weekly chart.an established uptrend on the daily chart and a full blown uptrend on the 4hr chart.

One monthly candle gives rise to 20 daily candles and one daily candle gives rise to six 4 hr candles which makes up 24 candles on the 1hr chart. A retracement on the daily chart can give rise to a new trend on the 1hr chart.
Ths different trend picture normally gives trades serious task of really identifying the current trend.
But in order to trade the trend successfully, you must choose just one time frame to make your trend decision and you must use only one time frame to decide your entry and exit only using the nearest bigger and lower time frame to ascertain a clearer trend outlook.

Indicators for identifying trend directions are usually stochastic oscillator with a lagging settings of 100/10/10, you may use an heiken ashi candle sticks to sm00then the trend direction and zigzag indicator to identify clear sup/res levels.

These are the primary indicators you need then you need to understand how to apply them properly.
Happy pipping.

13086/13120 are good tp points if buying euro and we may be selling back from these res points.

Toks2008: The Euro swing configuration still suggests a bearish correction as seen on the 4hr chart.

Nevertheless, we just may see a further intraday bullish retest of res 13096/13120 before the bears resume dominance.
Traders are however advised to buy short to 13096 capturing fast 20pips as euro presently hovers around 13076 with a sl at 13046. Then wait to sell back.

If you also still selling euro then you may consider hedging your position for a quick 20pips but still keeping the bearish perspective until res 13130 is breached.

in a nut shell, i will simply advice euro traders to stand by selling back should euro make a retest of res 13096/13120 because we may see a smooth glide down on euro if res 13130 remains formidable. Trade with care

Happy pipping

We should getting set to buy euro back at a test of supp 13000.

Toks2008: This Menace called LASTMA is one hell of an organization filled with 90% touts.

Believe it or not, Lastma criminally generates over 1billion naira monthly for the state Government, this is why Lagos state government will give them full support for these erroneous acts they commit day by day. Out of every 10cars impounded by lastma, you can rest assure that maybe just one is actually guilty of contravening traffic rules.

And If you are caught in anyway, you will be faced to pay the following crazy fees.

1. Lastma offense fee ranging into tens of thousands
2. Crazy training fee to lasdri which is about 5k
3. You pay non negotiable 10k or more for the towing van used in dragging your vehicle to their office.
4. You will now have to pay tax clearance to a crazy government that will never provide jobs for its citizens.
5. You will now pay 500naira per day for cars and more for trucks,buses and the likes for each day your car stays before redemption by you.

These Bunch of touts have been giving so much power by the state government due to the huge revenue they generate that it has gotten to their heads so what do you expect?

saxywale: Seems you are very familiar with their modus operandi. Is it really true they are given income targets by LASG and the profit is for Lastma officers once they go above the daily target? just asking ooo

My Story is no different from other innocent victims.

I pulled over at a designated Bus-top, just to see these men appear from no where with towing vans stating that i parked at a bustop. I argued with them that i did not park because my car side glasses were all down and i just left the car for just 2 minutes but all these fell on deaf hears and they succeeded in towing the car to their office.

I went straight to their head office in Oshodi to file a complaint. The PA to the chairman who is well educated agreed that one can pack at a bustop but should not be more than 5mins.

Did he waive the charges? Hell no but he just reduced the fee and all in all, i ended up spending about 50k for an offence i did not commit shuttling from one bank branch to another trying to pay in these crazy fees into the state Govt account. My friends this is crazy.

The Euro swing configuration still suggests a bearish correction as seen on the 4hr chart.

Nevertheless, we just may see a further intraday bullish retest of res 13096/13120 before the bears resume dominance.
Traders are however advised to buy short to 13096 capturing fast 20pips as euro presently hovers around 13076 with a sl at 13046. Then wait to sell back.

If you also still selling euro then you may consider hedging your position for a quick 20pips but still keeping the bearish perspective until res 13130 is breached.

in a nut shell, i will simply advice euro traders to stand by selling back should euro make a retest of res 13096/13120 because we may see a smooth glide down on euro if res 13130 remains formidable. Trade with care

Happy pipping

babniyen: They are not Agbero's but robbers in training.

This Menace called LASTMA is one hell of an organization filled with 90% touts.

Believe it or not, Lastma criminally generates over 1billion naira monthly for the state Government, this is why Lagos state government will give them full support for these erroneous acts they commit day by day. Out of every 10cars impounded by lastma, you can rest assure that maybe just one is actually guilty of contravening traffic rules.

And If you are caught in anyway, you will be faced to pay the following crazy fees.

1. Lastma offense fee ranging into tens of thousands
2. Crazy training fee to lasdri which is about 5k
3. You pay non negotiable 10k or more for the towing van used in dragging your vehicle to their office.
4. You will now have to pay tax clearance to a crazy government that will never provide jobs for its citizens.
5. You will now pay 500naira per day for cars and more for trucks,buses and the likes for each day your car stays before redemption by you.

These Bunch of touts have been giving so much power by the state government due to the huge revenue they generate that it has gotten to their heads so what do you expect?

Toks2008: i think we should chill out at 13043 and wait for a possible pullback. 12988 still looks very green but im trying to avoid bumping into any crazy supp levels.

As we draw towards Asian session, traders are still advised to look in the bears direction as euro still look good to test supp 12990.

We may see a mild bullish correction to retest res 13057/65 but the bears should resume their dominance so trade with care.

G night

Emperor Luke: It is because of LASTMA that the federal government refused to establish the law to allow state police.

This Menace called LASTMA is one hell of an organization filled with 90% touts.

Believe it or not, Lastma generate over 1billion naira monthly for the state Government, this is why Lagos state government will give them full support for these erroneous acts they commit day by day. Out of every 10cars impounded by lastma, you can rest assure that maybe just one is actually guilty of contravening traffic rules.

And If you are caught in anyway, you will be faced to pay.

1. Lastma offense fee ranging into tens of thousands
2. Crazy training fee to lasdri which is about 5k
3. You pay non negotiable 10k or more for the towing van used in dragging your vehicle to their office.
4. You will now have to pay tax clearance to a crazy government that will never provide jobs for its citizens.
5. You will now pay 500naira per day for cars and more for trucks,buses and the likes for each day your car stays before redemption by you.

These Bunch of touts have been giving so much power by the state government due to the huge revenue they generate that it has gotten to their heads so what do you expect?

Toks2008: Nice pips banked.

Traders can sell euro down to 12993. Trade with care and use good mm as we may see random motion coming up.

Happy pipping

i think we should chill out at 13043 and wait for a possible pullback. 12988 still looks very green but im trying to avoid bumping into any crazy supp levels.

Toks2008: Thanks. Nevertheless, the news no matter how strong will always drive price action in the direction of the current 4hr/daily chart trend. The trend is the most important aspect of forex trading so as long as you trade in the trend direction using good mm, you are good to go news or no news.

Nevertheless, i expect the news to drive euro far down as we are likely to see a down pull down for a retest of supp 12989 but i will chill out first at supp 13064 with 40pips and wait for a possible re-bounce.

Nice pips banked.

Traders can sell euro down to 12993. Trade with care and use good mm as we may see random motion coming up.

Happy pipping

Prof Amu: If u wish to take position in anything related to euro, I suggest u stay on the fence for or u take the fast-in, fast-out approach, at least for the next 3hrs. As the is big news to be released from germany and it has 3 bulls head effect on the market. After the news, we can then knw the effect on the market.

Thanks. Nevertheless, the news no matter how strong will always drive price action in the direction of the current 4hr/daily chart trend. The trend is the most important aspect of forex trading so as long as you trade in the trend direction using good mm, you are good to go news or no news.

Nevertheless, i expect the news to drive euro far down as we are likely to see a down pull down for a retest of supp 12989 but i will chill out first at supp 13064 with 40pips and wait for a possible re-bounce.

Toks2008: Just checked euro briefly

We can sell euro now at 13099 for a quick 20/40pips target at 13079/13058 and sl at 13153

If you are not selling euro yet then you can open an instant sell now as euro hovers around 13102 with tp at 13076/13062 making fast 20/40pips profit with a stop loss at 13153.


12989 may be tested today and we may glide down with euro at rebounce off strong res.
but lets capture 40pips first as euro glides down to supp 13062 then we wait for a rebounce and sell back

Toks2008: New sell points for euro 13123 sl 13158 tp 13103 and a sell stop at 13085 tp 13050 sl 13153.


g night

Just checked euro briefly

We can sell euro now at 13099 for a quick 20/40pips target at 13079/13058 and sl at 13153

New sell points for euro 13123 sl 13158 tp 13103 and a sell stop at 13085 tp 13050 sl 13153.


g night

arthuryemi: bros plsssssssssssssssssssssssssssssssssssssssssssssss wen you get the additional power pack let me know the price and location sir.nepa is my enemy in fx

I taught we have Gen sets at affordable prices, why not just get one and forget PHCN madness. Believe me, i don't even know if PHCN exists.

Toks2008: Intraday Euro analysis:

The euro still look good with the bulls and we may see a further up move today. Nevertheless, euro traders should look into buying euro back for 20pips target at a retest of supp levels13125/13115/13091 with strong points at 115/091 with possible exit point at 13060.

if euro moves lower to break supp 13060 then we will look into selling euro down to supp 13017.

Trade with care.

Good one for today. Till tomorrow.

.

badoutyn: There is one big problem we are not looking into,which is electric power,sometimes power could en-danger loss of trading profitable.Am think if anyone have idea of solar that can carry laptop,at least it could make us remain online and save us from fuel and power failure ups and down.

This is why we must trade with sl and tp parameters in place.

Intraday Euro analysis:

The euro still look good with the bulls and we may see a further up move today. Nevertheless, euro traders should look into buying euro back for 20pips target at a retest of supp levels13125/13115/13091 with strong points at 115/091 with possible exit point at 13060.

if euro moves lower to break supp 13060 then we will look into selling euro down to supp 13017.

Trade with care.

adami48: dat woman close to him is she up to 7ft? the dog big n tall na the 7ft i no understand, this one dey ur house u no need mopole

7ft long not tall.

honeric01: My accounts suffered because the market broke all rules that i normally check before trading.. anyways, it's part of the biz... have to survive to face another day.

Yeah you are right, especially yesterday euro moves.

bond777: these are periods where technical analysis, indicators and EA's g just de produce nonsense. EU is over bought on most indicators but it is flying up na wa o..... This QE3 na something else a sure proff that the market is influenced by fundamentals

just my 5 kobo

cheers

It depends on the technical method coded into the EAs. If you use trend following techniques then you will make good pips at times like this and during whipsaw moves such EAs may not make jumbo pips. So there is every trading method for a specific pattern of price action.

And if you trade manually using ma crosses, you will not also regret it at this point in time so concluding that indicators and Eas produce nonsense at tis time is not entirely true.

There is a pattern your trend indicators like stochastic, williams range give in a lingering trend such as this and the fact that a trend is overbought on 1hr time-frame does not suggest a trend reversal.

If you go to daily chart using stochastic 100 10 10 settings you will see that euro is yet to even test the overbought region.

So try combining lagging indicators to your charts to get a clearer trend picture.

My Zombie Swing EA just banked another 4 set of 300pips at peace with positions still running. WOW!

http://www.myfxbook.com/members/ForexRefuge/short-term-swing/368753

We are likely to see euro test 13180 today. The weekly trend so so strong

lari03: Well said but we all hold different beliefs and no matter how it seems we cannot all hold same view points,just as your profit objectives are quite different from mine.In my opinion fibonacci makes swing trading much more interesting.

Definitely many roads lead to fx success but price action is definitely the king

I can imagine the loss many traders would have incurred trying to sell euro and adding to the sell positions so whether you use fib to gauge your retracement or moving average to decide trend direction, price goes where it wants and we only have one choice. Follow it. No hoping and no wishing.Just choose one time frame for your entry and exit and use daily chart to detect the overall trend.

Toks2008: This is the funniest part of forex trading.

It leaves us speculating. Some may speculate a bearish trend while some may see a possible rangebound and some will tell you the bullish trend should continue.

Many times in the course of this euro bullish move i have seen very strong res getting breached and even yesterday euro pulled a stunt by breaking a strong supp that many traders will consider a sell confirmation just to zoom up again.

So my conclusion is that traders should just stick to a specific entry and exit rules no matter what they see on the chart. My swing trading method has gathered over 1000pips combined in all open positions as at the moment but if you ask me days ago if this will happen i will tell you a big NO because i have seen very strong res levels that ought to push euro down getting breached effortlessly. So price is definitely the king. Just follow it and have specific entry and exit points. This is why i chose to be swing trader above intraday trading.

You see what i mean? i can imagine how much many traders have lost selling euro at poits of possible reversal but it just keeps moving higher and higher. This is why i believe that swing trading with price following is the best way to capture big moves in this crazy market. My swing trading method is really gathering good pips while the intraday 20pips hacker is finding it hard to maintain a steady growth rate due to the erratic nature of intraday charts.

Nevertheless, i will not relent until i crack this intraday code just like i was able to get a good method for my swing trading. http://www.myfxbook.com/members/ForexRefuge/short-term-swing/368753

Nevertheless buyers may exit at a test of 13093 and wait for a possible pullback and who knows we just might see a further bullish surge because the daily chart suggests a posible test of res 13235 but i don't see that happening without a pull back.

But i will leave the auto trade to exit the bullish positions only when the exit configuration is met.

Toks2008: Intraday traders are advised to fight the temptation of chasing the trend but wait for a pullback to buy back.

We may see euro making a retest of supp levels 13001/12981/12949 so an instant buy or buy limit at this levels will be ideal with a vivid stop loss at 12919 and profit targets of 20pips for position opened at 12919 and 12981 respectively and 30/50pips for position opened at 12949.

Happy pipping

(*)Intraday trade suggestion: Euro:Buy at 13018/13001/12949 with 20/20/30pips respectively with vivid sl at 12919.

I will send updates if there is any change in configuration.

Use good mm and trade with care.

Happy pipping

lari03: Based on some knowledge that I acquired from reading a pdf on Gann analysis,some very interesting mathematical cycles were highlighted with respect to trending days and natural numbers in a circle, based on that, it may not be perfect but I see Price going beyond the 2.0 level to 2.618,before a major reversal occurs. The pattern best fits a bearish bat formation and 2.618 is a valid extension when BC is 0.886 retracement of AB(though in this case it is 0.786). The reason why I am quite certain price could go up further is because the cluster in July which held sway for almost a full 30 day cycle(calendar days),would need to be compensated for in the upward thrust.So lets keep watching and just as you observed NzdUsd making a bullish harmonic pattern, GbpUsd may indicate the beginning of a bearish trend in the market for dollar related currency pairs. Interesting days lie ahead.

This is the funniest part of forex trading.

It leaves us speculating. Some may speculate a bearish trend while some may see a possible rangebound and some will tell you the bullish trend should continue.

Many times in the course of this euro bullish move i have seen very strong res getting breached and even yesterday euro pulled a stunt by breaking a strong supp that many traders will consider a sell confirmation just to zoom up again.

So my conclusion is that traders should just stick to a specific entry and exit rules no matter what they see on the chart. My swing trading method has gathered over 1000pips combined in all open positions as at the moment but if you ask me days ago if this will happen i will tell you a big NO because i have seen very strong res levels that ought to push euro down getting breached effortlessly. So price is definitely the king. Just follow it and have specific entry and exit points. This is why i chose to be swing trader above intraday trading.

Intraday traders are advised to fight the temptation of chasing the trend but wait for a pullback to buy back.

We may see euro making a retest of supp levels 13001/12981/12949 so an instant buy or buy limit at this levels will be ideal with a vivid stop loss at 12919 and profit targets of 20pips for position opened at 12919 and 12981 respectively and 30/50pips for position opened at 12949.

Happy pipping

I dare not ask GOD almighty questions. Never!

But sometimes i wonder why GOD allowed Ishmael come from Abraham. I believe GOD knows the end from the beginning so i really don't understand why he allowed Ismael to have generations that gave birth to Islam.

Because in as much as i know Islam to be a religion of peace, some perverts just can't stop making me doubt the relevance of this religion in the world. What a shame on Islam and Muslims as a whole. No insults intended please but I am PISSED OFF.