odiaero:

Buying EJ now

Hmmmmmnnnnn O-Y-O

Meshach.

jamace:

Wow! I have seen various  indicators used on this forum and to tell the truth, I have tons of indicators too. Yet, trading forex profitably still elude some of us. What is the problem?

May the pips be with us.

Until people fully realise and understand that price action is the sole key to fx success, it will continue to elude the 95%. news, pivot points, candle reading and all that crap dont work. it might for a while but for how long. news effect is temporary, indicators are lagging, pivot points only tells you reaction points, where and what it is reacting to you dont know. candle reading? year right!!! i just dont get what traders see in that. I believe brokers put all these crap into our heads from day one to ensure people lose and keep coming back for more.

Buying buying buying

odiaero:

Buying buying buying

My offlines? its urgent man, buzz me.

Anyone watching GU go down?

Yea, I'm with you. GU is sitting on 1.6100 for now ready to breakout.

odiaero:

^^ I wonder wher eu dey send the offline, nothing am seeing

Buzz me then since you're not seeing mine. can you see my ID on your friendlist online?

Finaly, our USDCAD we opened weeks back, at price 9792 for a tp of 9500 is about to hit tp. It was a long and profitable run, making more that 500 pips in retracements alone. price action people, it never fails. Now we can focus on audusd short, usdjpy long, chfjpy short and gbpusd short, once price reaches entry point. these are all long term but extremely profitable. especialy audusd, that is if you tap into their retracement potential. Audusd has completed one retracement and i'm sure there are a few more to go. HOOAAAh!!!! i love this game.

bidemi12:

Until people fully realise and understand that price action is the sole key to fx success, it will continue to elude the 95%. news, pivot points, candle reading and all that crap dont work. it might for a while but for how long. news effect is temporary, indicators are lagging, pivot points only tells you reaction points, where and what it is reacting to you dont know. candle reading? year right!!! i just dont get what traders see in that. I believe brokers put all these crap into our heads from day one to ensure people lose and keep coming back for more.

You just hit the nail on the head.I have said it over and over again
here on the this thread that price action is the answer.

Bidemi am working on something that i want you to be part of,i will
let you in in due time man.
CHEERS

Are we there yet?

See as pips dey fly up and down, i just dey outside dey watch, after flood shock still dey worry me.

all fx guru in d forum who are interested in this: www.forexmentor.com/swingtrader/index.html
should pm me via glowconsult(at)gmail(.)com

pizzz4all:

all fx guru in d forum who are interested in this: www.forexmentor.com/swingtrader/index.html
should pm me via glowconsult(at)gmail(.)com

soree guys, its glowconsult(at)rocketmail(dot)com

Look at this setup on EURCAD today.

Pictures, they say, speaks a thousand words. Wouldn't say much, just look @ d chart below. Have a great weekend.

I want to learn forex guys, who would be willing to teach me? and whats the best forex platform to use to trade?

Attached below is the 1 hour chart of the GU at market close as a follow up to the daily chart I earlier posted above.

Looking at the chart you would see a good down trend line and good reactions at the plotted level. On the last touch of the line, we had an inverted hammer. The pair is also forming lower highs; what does that tell you?

Watch out for the break of the 1.6090 ;evel next week; it could lead to serious gains.

Have a great weekend.

Descending triangles all the way.

Are we there yet? EU, Ej going going up up up, who is with me? am heading North

fx breakdown for the coming month; audusd confirmed it's downtrend on the 13th of may, retraced to it's 61.8, formed lower lows on it's way down, and broke the trendline formed by the lower lows. So, how do you trade this? you would enter the trade upon completion of the first retracement at price 10774 with two lots (i entered with four). you let price fall to 10536 and exit one lot leaving the other lot running. you have at the back of your mind that price, under normal circumstances, should retrace and form lower lows upon which we plot a complete downtrend confirmation, and wait for a break of the trendline ( much like what gbpusd is doing right now). upon the break of the trendline you plot your expansion points for possible re-entry, which we did on the 1st of july. we exited the new lot while still allowing the other lot to run free. we closed out the new lot at 10536 again and waited for another retracement, which it did to price 10800. we entered another lot which we will closed out at price 10536 again, while all our lots are running and still in the game. eventual tp for audusd is 10203.

trade direction usdjpy; this pair confirmed it's uptrend on the 28 of june and tp for that pair is 8200. but as expected, news can make life difficult for fx traders. NFP pushed price down to 7848 and guess what? i was jumping for joy. NFP news turned a 100 pips, with maybe 200 pip retracement potential profit to a 400 pip, with 800 pip retracement potential profit target (how delightful). upon reaching 7848 we quickly entered 2 more lots upon which we will exit one lot at price 8000 and hopefuly wait for it to retrace again. we will continue doing this until 8200 is met.

Almighty gbpusd; as said weeks back, gu confirmed it's downtrend on the 22nd of june, retraced and formed lower lows on it's way down and it is now heading up to potentialy break the trendline formed by the lower lows. so how do we trade this? i have not entered this trade but i have plotted all my expansion points so that once price gets to in and around 16235, 16304 and 16351, i will sell 2 lots exiting one at price 16050 and wait for price to hopefully retrace. if it does not i still have one lot running. but crazy traders who like to trade against trend and news will never let that happen (more pips for me anyway). it must surely retrace and i will simply enter again. eventual tp for Gbpusd is 15590.

money management; As said earlier, price can turn from a retracement to an expansion (usdjpy, nzdusd, chfjpy) and from an expansion to a retracement (usdcad) depending on what is happening the next time frame. just knowing direction of trend is not enough. one must plan for eventualities. before entering a trade, i plan for both expansions and retracements. if the next retracement or expansion point is let's say 500 pips, then i make sure i have more than enough to cover my bet. chfjpy and nzdusd have confirmed their downtrend and nzdusd effectively expanded to price 8504. if i had taken the trade, i would have entered at price 7545 and made sure i had 1500 pips to spare incase it did expand. but i did not because trade signals on weekly tend to eat up a lot of pips and take longer to hit target. i trade long term but weekly signals can be pip and time consuming.