₦airaland Forum

XHTML: Sold Eur/Usd, should head down to 1.299x.

Waiting for support to be breached to short Eur/JPY.

Closed at 1.2935

@Kirinwa, I'm long on gold in the long-term (holding positions right from 119x.xx), but doesn't hurt to profit from the down swings - I'm not expecting any major crashes back below 1200.xx however.

Unless the NFP. Hmm.

IMO, We'll likely see below 97.xx rather than 100.xx on oil today, but I may be wrong.

Sold oil, TP 97.10, SL 99.20.

^^ You should wait for a breach of that support zone before that.

So the pending order might work well under 1249.xx. My two cents.

Some of the posts, a page or two back. why?

Anyways, I'm following that trend on gold and I'm up over 10,000pips. Target 1276.xx for now.

Sold Eur/Usd, should head down to 1.299x.

Waiting for support to be breached to short Eur/JPY.

Some of the other pairs I'm watching are a bit too choppy to get a clear headway.

Kirinwa: Buystop @ 1250
Stoploss 1240
Target 1300

Yes, this is valid. Soon as that resistance is breached.

Left my positions over the weekend. And I still have my TP at 1275.xx

Birikiti: Who has an idea what happened to Gold? Whatever it was caught me out. Let me stay on the sidelines for now.

Yeah, that was due to the Pending Home Sales data released. Beat the forecast by a wide margin.

I was cautious, plus saw the bearish Macd crossover on the 15m TF and exited my long. Managed to get in at 1218.50.

Good old US economy is bouncing strong, what can we say.

^^ I'd watch for an entry, sell and tp 97.60 if I were to trade that pair.

Maybe switch to USDCHF. I'm going short. TP at 0.9374, SL 30pips off.

Or buy Gold and TP at 1243.25 - could be more.

naijababe: Can you elaborate on the bolded, I have been thinking about it since I read it.

Put simply, combining both. It's always a good idea to keep tabs on the economic events/data from key countries. Sometimes you pick up hints about their intentions, most times in the longer term. Technical analysis on it's own is quite subjective, more or less, statistical data - and history doesn't always repeat itself.

But then it all boils down to how the traders respond to the data/events. Which is what we all strive to detect and 'get in early'.

As someone would say "Fundamental factors shape Market sentiments, while technical analysis helps us visualize that sentiment and apply a framework for our trades".

Here's one good example of a trade pulled off in this manner.

http://www.babypips.com/blogs/currency-cross-eyed/cross-eyeing-eurjpy-trade-of-the-year-closed-853-pips.html

elewedu: Me teach you forex, abeg no pull my legs jare. For ur information , i trade a micro account, am two months old trading live....so i dont think i will be of much help here. I will only be mature to teach when i have benefitted from this bussiness, meaning when i make a profit withdrawal. U can talk to baba rozay, XTHML, pipnonomics, fxisreal, infact just choose one person among all this plenty oga and u re good to go, and before i forget u can also contact ogboragh, he seem to banking pips so easily tooo. sogbo

Oga Elewedu, you're way past mature o. if you were handed $10,000, I'm confident you could get more than 150% ROI. Just give it sometime, you'll switch to a standard account. We all get better and better by practicing.

This is quite a good read. Look at those forecasts.
http://www.businessinsider.com/most-bullish-gold-price-targets-2013-6?op=1

I don't get it. There is a strong demand for physical gold at the moment, china completing plans to launch their ETF. But this doesn't seem to reflect on paper gold, with prices are still dangling on the low.

On the contrary, I'm quite considering a long term investment in gold. I mean, consider if you had followed Marc Faber's recommendation and bought gold for $400 back in 2003. But, that's just on the side anyways.

Surprise, Surprise. ECB President Draghi due to deliver a speech at 1:15pm (Nigerian Time).

This is the EUR's "Bernanke". Watch out for this.

naijababe: As far as I am concerned, I am only interested in market sentiment after the release. My own na to just follow.......... I love Nikkei die.......that Monday that y'all are beating delivered mouthwatering pips on futures and oil.

Since last week's downpour, it's been the futures providing the little pushes here and there.

After meddling with scores and scores of trading systems I realized it's best to "Think like a fundamentalist and trade like a technical analyst". I try to understand and be informed of the "why", and then use technical analysis to fine tune my entry and exit - worked for me.

If the data released from the US beats the forecast (on the positive side), the commodities will take some hit - particularly Gold.

1269.xx is a key support though. If it's breached I'll short to 1244.xx. Until then, I'm still holding my position, (SL still at 1267.86)

Fingers crossed. Let's hope for the best.

iheanyiebeneze: AM SORRY, I DISAGREE WITH YOU.THERE IS NOT MUCH TRIGGER TODAY, AM STILL EXPECTING RANGE TRADING THE WHOLE OF THIS WEEK.MY ADVICE IS TAKE AS SMALL PIPS AS YOU CAN , BEFORE IT DRIES IN YOUR PRESENCE AND ENTER NEGATIVE AND YOU WILL BE TEMPTED TO EXIT AT A LOSS, ONLY TO SEE THE TRADE RETURN NEXT 4 HOURS IN YOUR PREVIOUS FAVOR.FOR YOUR INFORMATION, FEW RED AT www.dailyfx.com (economic calender) shows that there will be no decisive breakout that day.

It's not the number of events that matter.

I'm particularly keeping tabs on the Inflation Report Hearing (BOE) - comes out quaterly) and the S&P/CS Composite.

PS: Typing in caps makes it a bit difficult to read your post.

frenchman2: fake signals everywhere yesterday. all my sl hit.
let's see what today will turn out to be

Today will be better. At least we've got major triggers to watch out for.

I'm actually looking for an entry to go long on EJ, target 129.10.

However, if price drops below 127.49, then it will test support at 127.04.

Mondays have always been notorious for slow starts. Now I can partially close and let these trades run on zero risk.

I'm Watching these pairs for possible reversals (which is oncoming) and a confirmation so I may buy.

AudUsd with TP at 0.9250 (and potentially 0.931x)

GBPUSD with TP at 1.5448 (and potentially 1.550x)

---

On the USDCHF, 0.9297 is oncoming. If you're looking to short, you can TP at 0.9272, potentially, if the support is breached price could fall to 0.924x.

On the EUR/USD, the pair shows a slight rebound but price still stands below it's resistance. If resistance is breached however, I'll likely take a Long position anywhere above 1.3125. TP at 1.3225 (or potentially up to 1.325x)

I'm going to Sell USD/JPY with a target at 97.33 (or potentially down to 96.63)

SL anywhere around 98.69.

Alpari and West Ham United?

http://www.alpari.co.uk/press-releases/pr/west-ham-united-and-alpari-underline-ambitions-with-new-kit-launch

These brokerage firms sure are milling a lot of dough, some are launching beauty contests and sponsoring sports teams.

yomex_y2: E bi like say the mic no loud o

From what I could pickup:

Pickup in Japan exports helped by currency developments; Expects Japan economy to return to moderate growth; BOJ to monitor developments in market; Uncertainties remain high for Japan’s economy; Bank of Japan will make policy adjustments as needed; BOJ will continue easing to achieve stable price growth; Sees no problems in Japan’s financial system; Markets will settle down as they reflect Japan recovery;

Emphasis on the bolded part. Be careful with any longs on the JPY pairs, prices will likely hit south.

Bullish MACD crossover on Gold 1hr. I have a pending buy order at 1301.27.

Still holding my two previous buys at 1279.84 and 1273.68.

If the current resistance at 1298.70 is broken, price should rally up to yesterday's resistance at 1348.08.

We should see more bullish moves when the London Market Opens.

naijababe: Dax! The quintessential bastard. I no dey near am again, e don show me plenty pepper. Getting ready to buy EJ now.

The gaps alone can cause a heart attack. Yeah, BOJ Gov's talk still in progress. This whole US Fed Reserve stimilus talks is sending a gitters everywhere. They may be a bounce tomorrow on several pairs currently on the low. I'm watching closely.

You should take a look at the Nasdaq E-Mini futures too.

naijababe: See blood everywhere!

Dow down by 300+ point, Nikkei has done 500+ pips today. Oil and Gold, don't even ask

Volatility in these futures is something else. You need to see what's happening on Dax.

As for Gold. The trend is unclear. Perhaps it's going to test 2010's support at 1156.75?

For me I'm reduced to scalping. Current open trade is a short from 1284.54 (entered after the support was breached at 1291.37).

Looks like I'll eventually exit my position on the Nasdaq E-mini futures with over 10,000points.

Currently 2891.75 (from 2998.00).

Ogboraph: Alert Alert Alert sell GU NOW AND EU NOW TAKE
PROFIT 60PIPS DOWN

I got in at 1.3228 (EU). Sources tell me price will fall to under 1.3000 in the coming week. (I may hold on to the trade and see how it goes).

@wapmasta001 Interesting trades you took.

But err, I don't understand. How come your orderlines don't show the number of lots you traded?

For Example, it's supposed to be something like this (attached). . or did I miss something?

Piponomics: Lol.. We thank God and errr Bernanke
More volume to his microphone.

He'll likely be out by January 2014 though. Brilliant Economist he is.

My last trade got taken out - SL. (don't fret, I scalped that $489 back). But like I said earlier Gold is currently undervalued, last time we saw these levels was Sept 2010 thereabout. Undervalued is good for a buy once you can spot a reversal and a good entry. I'd say buy now - or watch out for an entry using your trading systems (above 1308.xx is a good zone).

Unless price falls to 1265.xx, I'll not likely take shorts - we'll have 1153.xx or 1082.xx levels in view if that happens.

We still have the news to watch out for though (Unemployment Claims, Flash Manufacturing PMI and further down the Existing Home Sales and Fed. Manufacturing Index).

EPOMA: There is nothing like oversold, should have a better reason to buy or you wait

You think? Anyways, I can't type a long tutorial right now. Google is your friend.

Look at the current RSI and stoch levels.

OliverPin: Bros those indis are deceivers in my own opinion.

Nah bro. I don't dwell on the indi but the data it provides. I don't use any indicator without knowing the algorithm behind them. No one can be 100% sure in this thing, however. It's all analysis. I still have my stoploss at 1303.33 (got in at 1308.22), who knows, maybe the next 1hr candle will prove me wrong.

There could be a reversal in my view, keep your eyes peeled for it.

XHTML: My SL got hit on Gold. I managed to re-enter around 1358.77 on Gold.

On oil and Nasdaq, smooth finish.

Woke up to see the run. My modified SL to 1352.56 wasn't hit. Anyways, closed the trade at 1306.10. Gold is currently oversold and I'm going in on a buy order - SL 1303.33.

Ogboraph: I be been waiting for this grate move and I am so glad I made it big again on sell. The holy grail really world That is Gods favor

I must commend you, you're gaining grounds and catching up nicely. From $1100 you've pulled in more ROI (1566.5%) than I have.

All the best in your trades!

naijababe: .

Thank you o Mr Bernanke

My SL got hit on Gold. I managed to re-enter around 1358.77 on Gold.

On oil and Nasdaq, going smooth.