₦airaland Forum

unclenna: Everything about the market is good to go short...the trading bias for tomorrow is short, market opened below Pivot point but am still waiting for the right time to pull the trigger.Don't say you did not see this.

O boy everybody don wise up well....nobody wants to push EU up a little for us to enter SELL....If I catch EU and GU near today's pivot, body go tell them hw far...

WINNINGWAYZ: well, very pipful day. am locked on profit now sha. just rsi on 4hr.
@silibaba, I sent you my system to review, its all there... understanding simple pivot trading movement.
theyjih... there is a thin line separating ur perceived caustic comments with satirical undertone and supposedly having "fun" Did same when I last posted june 1st, I had stay back for like a week, so wont get pissed. Keep ur caustic content to ur self. This is serious business and people's money are at stake.

Anyway, I have mastered some price action systems. will share with the house later.

Plz, do not dictate for the market. divergence on 4hr using rsi is very simple, stupid and very powerful

tonjoan: chai. I'm 70 pips down on eu. waiting to add more and long gu when it's done retracing. Perhaps tomorrow.

silibaba: unclenna pls if u have any ebook strictly on trading the pivot pls help with it.

my email is siliconrule at yahoo dot com

thanks in advance

unclenna: The market is moving towards the daily pivot which is around 1.25079 according to pivot rule. I guess you are from BOM

Rich4god: Plz guys, am a newbie in forex. Plz i jst want to knw if there is any possility of EUR/USD falling below 1.25 before rising up. Plz am waiting for any reply. Thanks.

nolly042: i fear that what happened to e-gold may happen to LR or what possibly cud be the reason for a scarce LR.

unclenna: Then traders should look at[b] how far the price opened from the Pivot (PP),[/b] and make extra notes when it opened below S1 or above R1 level which is considered to be a quite distant open. distant opening (below S1 or above R1) — we have very high expectations that the price will try to correct such "distant irregularity" and thus instead of progressing further away from Pivot Point it will try to move back towards the Pivot — the gold-middle point of the day. As a result, we will typically see a ranging market which does not produce much of the trading opportunities The expectations are [b]that the price will revolve around Pivot Point for the rest of the day — nothing to do for us, we stay out. [/b]

tonjoan: This kain gap na wa o. Well sha, it gave credence tio the well established trend. Expect a drag around 1.2666, little retracement then 1.2793

unclenna: with this success i assume a bullish EU and GU bias this week.

Lenny5000: What is wrong with you people? How is choking your child disciplining her? Would you choke your own child? When ever it has to do with somebody we like we tend to defend them as if they are not humans that are not above mistakes... They didn't say he beat her or grounded her they said he tries to choke her... A mere child of 15... A girl for that matter. Now tell me what crime a 15yrs old child would commit in your sight that is worthy of chocking?

unclenna: IMF, US praise 100 bn euro bank deal for Spain

The IMF and US both praised a Eurogroup deal giving Spain a lifeline of up to €100 bn ($125 billion) to save its stricken banks, with International Monetary Fund Managing Director Christine Lagarde calling it a "credible back stop" for the banking system.

"I strongly welcome the statement by the Eurogroup, which complements the measures taken by the Spanish authorities in recent weeks to strengthen the banking system," said Lagarde.

"Providing a credible back stop to recapitalize weaker segments of the banking system has been a key recommendation of the IMF's recent Financial Sector Assessment Program (FSAP) conducted in Spain," she said.

Lagarde also had words of praise for the operation's scope.

"The willingness of Spain's Euro Area partners to financially support the Fund for Orderly Bank Restructuring (FROB) with up to EUR 100 billion is a crucial step for the success of the Spanish authorities' strategy," she said.

"This scale of proposed financing, which is consistent with the capital needs identified in the FSAP, gives assurance that the financing needs of Spain's banking system will be fully met.

"The IMF stands ready," said Lagarde, "at the invitation of the Eurogroup members, to support the implementation and monitoring of this financial assistance through regular reporting."

US Treasury Secretary Timothy Geithner also welcomed the moves, saying: "These are important for the health of Spain's economy and as concrete steps on the path to financial union, which is vital to the resilience of the euro area."

German Finance Minister Wolfgang Schaeuble also hailed the deal for Spain, saying he and his colleagues welcomed Madrid's "determination" to recapitalise the banks with "rescue funds".

His French counterpart Pierre Moscovici called it a good agreement which gives "a very strong signal of solidarity" among Spain's eurozone partners.

Japanese Finance Minister Jun Azumi joined in praising the lifeline Sunday, calling it a "major first step" toward stabilising the European and global economy.

"The confirmation of the scheme worth 10 trillion yen (100 billion euros or $125 billion) should greatly contribute to stabilisation," Azumi told local reporters, referring to both the global economy and Spain's troubled banking system.

"I hope that such actions will continue to be taken flexibly with a sense of speed. In that respect, I think this is a major first step," he said.

After the hastily organised video conference, lasting more than two hours on Saturday, the 17 eurozone finance ministers issued a statement saying they were "willing to respond favourably" to a Spanish plea for help.

The deal marks a dramatic climbdown for Spain, where successive governments have hotly denied any need for outside aid.

Prime Minister Mariano Rajoy's conservative government finally bowed to pressure from world leaders and, more importantly, the markets, which have sent Spanish borrowing costs soaring.

"The Spanish government declares its intention to solicit European financial help for the recapitalisation of those banks that need it," a visibly tense Economy Minister Luis de Guindos told a news conference.

De Guindos refused to describe the aid as a rescue deal, which his government had categorically ruled out right up to the last moment.

"This has nothing to do with a rescue," he insisted, arguing that the aid would be directed to the 30 percent of banks with the greatest exposure to the 2008 property market crash.

The deal imposed no conditions on the overall Spanish economy, and no new austerity measures, de Guindos stressed.

"The only conditions are for the banks," the finance minister said, conceding however that the deal will further increase Spain's mushrooming public debt.

Nevertheless, the eurozone ministers said they were confident Spain would honour commitments to cut the deficit and restructure the economy. "Progress in these areas will be closely and regularly reviewed," they said in the statement.

Spain, which will become the fourth eurozone state to receive financial help since the sovereign debt crisis erupted two years ago, finally sought aid as the cost of buttressing the banks spiralled in past weeks.

Recently nationalised Bankia, which has the largest exposure to the real estate sector, needs 19 billion euros to repair its books.

Under Saturday's deal, up to 100 billion euros would be provided by the European rescue mechanisms to recapitalise Spanish banks, the eurozone ministers said, providing an "effective backstop" for all possible requirements.

"So we have a new concept. A 'lite' bailout with no material conditions on the sovereign and instead merely the banks that apply," Lloyds Banking Group economist Charles Diebel said in a report.

"This is the latest in the long list of euro measures to stem the crisis. Will it be enough? That's questionable as it is still prevention rather than cure and again only keeps the banking sector alive rather than really supporting growth."

The scale of the aid depends on an external audit being carried out for Madrid by consultants Roland Berger and Oliver Wyman. The audit is due by June 21 but de Guindos said it would ready within a few days.

De Guindos stressed that the 100 billion euros included a big safety margin.

"This announcement is good news for the Spanish economy and for the future of the eurozone," he said.

International Monetary Fund bank stress tests, unveiled Friday three days ahead of schedule, determined that Spanish banks need about 40 billion euros in new capital.

But an IMF official noted that the banks would probably need more than that to build a "credible firewall".

The assistance is to be channelled through Spain's state-backed bank Fund for Orderly Bank Restructuring, eurozone policymakers said.

Policymakers hope the rescue will satisfy financial markets and put Spain in a safe harbour ahead of the Greek elections on June 17, which risk leading to a destabilising exit from the eurozone.

unclenna: IMF, US praise 100 bn euro bank deal for Spain

The IMF and US both praised a Eurogroup deal giving Spain a lifeline of up to €100 bn ($125 billion) to save its stricken banks, with International Monetary Fund Managing Director Christine Lagarde calling it a "credible back stop" for the banking system.

"I strongly welcome the statement by the Eurogroup, which complements the measures taken by the Spanish authorities in recent weeks to strengthen the banking system," said Lagarde.

"Providing a credible back stop to recapitalize weaker segments of the banking system has been a key recommendation of the IMF's recent Financial Sector Assessment Program (FSAP) conducted in Spain," she said.

Lagarde also had words of praise for the operation's scope.

"The willingness of Spain's Euro Area partners to financially support the Fund for Orderly Bank Restructuring (FROB) with up to EUR 100 billion is a crucial step for the success of the Spanish authorities' strategy," she said.

"This scale of proposed financing, which is consistent with the capital needs identified in the FSAP, gives assurance that the financing needs of Spain's banking system will be fully met.

"The IMF stands ready," said Lagarde, "at the invitation of the Eurogroup members, to support the implementation and monitoring of this financial assistance through regular reporting."

US Treasury Secretary Timothy Geithner also welcomed the moves, saying: "These are important for the health of Spain's economy and as concrete steps on the path to financial union, which is vital to the resilience of the euro area."

German Finance Minister Wolfgang Schaeuble also hailed the deal for Spain, saying he and his colleagues welcomed Madrid's "determination" to recapitalise the banks with "rescue funds".

His French counterpart Pierre Moscovici called it a good agreement which gives "a very strong signal of solidarity" among Spain's eurozone partners.

Japanese Finance Minister Jun Azumi joined in praising the lifeline Sunday, calling it a "major first step" toward stabilising the European and global economy.

"The confirmation of the scheme worth 10 trillion yen (100 billion euros or $125 billion) should greatly contribute to stabilisation," Azumi told local reporters, referring to both the global economy and Spain's troubled banking system.

"I hope that such actions will continue to be taken flexibly with a sense of speed. In that respect, I think this is a major first step," he said.

After the hastily organised video conference, lasting more than two hours on Saturday, the 17 eurozone finance ministers issued a statement saying they were "willing to respond favourably" to a Spanish plea for help.

The deal marks a dramatic climbdown for Spain, where successive governments have hotly denied any need for outside aid.

Prime Minister Mariano Rajoy's conservative government finally bowed to pressure from world leaders and, more importantly, the markets, which have sent Spanish borrowing costs soaring.

"The Spanish government declares its intention to solicit European financial help for the recapitalisation of those banks that need it," a visibly tense Economy Minister Luis de Guindos told a news conference.

De Guindos refused to describe the aid as a rescue deal, which his government had categorically ruled out right up to the last moment.

"This has nothing to do with a rescue," he insisted, arguing that the aid would be directed to the 30 percent of banks with the greatest exposure to the 2008 property market crash.

The deal imposed no conditions on the overall Spanish economy, and no new austerity measures, de Guindos stressed.

"The only conditions are for the banks," the finance minister said, conceding however that the deal will further increase Spain's mushrooming public debt.

Nevertheless, the eurozone ministers said they were confident Spain would honour commitments to cut the deficit and restructure the economy. "Progress in these areas will be closely and regularly reviewed," they said in the statement.

Spain, which will become the fourth eurozone state to receive financial help since the sovereign debt crisis erupted two years ago, finally sought aid as the cost of buttressing the banks spiralled in past weeks.

Recently nationalised Bankia, which has the largest exposure to the real estate sector, needs 19 billion euros to repair its books.

Under Saturday's deal, up to 100 billion euros would be provided by the European rescue mechanisms to recapitalise Spanish banks, the eurozone ministers said, providing an "effective backstop" for all possible requirements.

"So we have a new concept. A 'lite' bailout with no material conditions on the sovereign and instead merely the banks that apply," Lloyds Banking Group economist Charles Diebel said in a report.

"This is the latest in the long list of euro measures to stem the crisis. Will it be enough? That's questionable as it is still prevention rather than cure and again only keeps the banking sector alive rather than really supporting growth."

The scale of the aid depends on an external audit being carried out for Madrid by consultants Roland Berger and Oliver Wyman. The audit is due by June 21 but de Guindos said it would ready within a few days.

De Guindos stressed that the 100 billion euros included a big safety margin.

"This announcement is good news for the Spanish economy and for the future of the eurozone," he said.

International Monetary Fund bank stress tests, unveiled Friday three days ahead of schedule, determined that Spanish banks need about 40 billion euros in new capital.

But an IMF official noted that the banks would probably need more than that to build a "credible firewall".

The assistance is to be channelled through Spain's state-backed bank Fund for Orderly Bank Restructuring, eurozone policymakers said.

Policymakers hope the rescue will satisfy financial markets and put Spain in a safe harbour ahead of the Greek elections on June 17, which risk leading to a destabilising exit from the eurozone.

tobinson: i blive u guys will help a fellow broda lik me,and pls advice me on Apari cos its my broker..... Help me ooo

tonjoan: Like I told u on Facebook bro, pretty very busy lately. When I shed off some loads will make it back here.

tobinson: Hi big bros in da house am new here but not new on nairaland, it time i get ur advice i jst wana start fx dis mnth,bt i av not really started cos i nid info and directions to go abt it,,,,, i got my lap-top a domi acct.....so i nid to trade on Demo sha.... Though am planning to get connection(modem). Pls advice me and teach me

bros when did you know about forex 2) how long have you gathered knowledge 3) do you have any trading system at all? have you used demo to test it? 4) do you have a trading rules and plan? if all your answers to this questions is NO. then get ready to blow your account. You better not go live until you get all these.

osahonmk: I checked all your post I didn't to seee anytin relating to d system onli saw info about forex generally

osahonmk: Don't understand dis ur system pls could u kindly explain again I will love to learn but it not understanding

unclenna: Please where is Odiaero my man and Tonjoan too.

jammer777: And start premium services after 1 month, nothing do u guy...carry go

unclenna: I see EU get to 1.26xx before friday