The Yen....well, market structure's already telling the story, let's just see if the next series of price action agrees with the story.
141.77 Daily support (red line) is the decision ground for bulls.

EmmanuelVi:

I agree with you on the DXY our lady...The DXY is still bearish on the very near term, but has so much bullish momentum that piqued the interest of bulls from the 12,744 Weekly support level (blue line).
We could be seeing a proposed (or unconfirmed, as I like to put it) change in trend if price pushes further with the bullish momentum and manages to breach the top of the last lower high nesting just beyond the 12,923 Daily resistance level.

Sooner or later, we should see price showing bearish pressure in order to retest the zone betwixt the 12,771 Daily support level (2nd red line) and the 12,744 Weekly support level (blue line), so to decide whether to stay above it or continue back down in agreement with the Weekly bearish trend.

Cara12:
Why am I seeing a bearish dxy and bullish Eurusd while majority are seeing otherwise? Euraud looks bullish too.

I agree with you on the DXY our lady...The DXY is still bearish on the very near term, but has so much bullish momentum that piqued the interest of bulls from the 12,744 Weekly support level (blue line).
We could be seeing a proposed (or unconfirmed, as I like to put it) change in trend if price pushes further with the bullish momentum and manages to breach the top of the last lower high nesting just beyond the 12,923 Daily resistance level.

nzechu:
which broker do u use, see where my broker closed, above the 38%, while yours closed just around 50%.

for someone like me that uses the pressure of these kinda candles to make decision I could easily be making the wrong call just cos of this difference in representations.

now if your broker is the correct one, I am seeing a bearish pressure on that last candle, which denotes price going down. but if my broker is correct, I would expect a bullish run.

anyway, this is wat I HV decided to do I will wait for price to break out either 100 or the zero percent of the fib as drawn in the second chart.

no time for gambling, I feel inclined to follow your brokers pressure representation though

Oh no no, you're mistaken, the first chart I posted isn't the most recent; that was a chart I posted here on NL since the beginning of the just concluded trading week, I was just making reference to it.
I think your broker's spread is too wide though and is not really hitting the exact price for you.
My broker is InstaForex but I don't really use the charting platforms they provide, so I make use of quotes from other sources. My broker closed the week at the .8634 level though (which agrees with my charting platform)...who's your broker?

Could be some opportunity to scale into longs on EURGBP this coming week @ the .8604 Weekly support level.

fortune183:

Lol funny guy.... NFP and interest rate or CPI rate aren't my thing. I eat popcorn as i watch these candles move. News are for dramatic peopl.
I don't do andrenline rush like other people.
These news events only end even making my trades hit TP faster. Which helps me to move on with other currencies.
I don't smoke or drink either.
I am a simple guy with simple needs.

I think the right way to put it is as Nial Fuller puts it; "Minimalist"
...I love the sound of that.

OfficialP:


Not really, his limit order wasn't picked

Exactly!

EmmanuelVi:
Okay, lemme drop this quick...
Buy Limit on EURAUD
@ 1.6676
SL@ 1.6636
TP@ 1.6767

Unfortunately, EURAUD is partying north, but without me..

OfficialP:


Closed 0.8640 roughly 1.:5 rr. It's 5pm.

May still rally sha b4 close of day.

Welldone Sir, I'm still holding till the top since I'm swinging.

iichidodo:
FX 101: Close all positions prior to news....

Subjectively!

Bulls just need to wait a little longer...expecting a retest of $1937 Weekly support (blue line).

GarkiAccessory:
Boss in my opinion sell instead or leave it

Okay, noted!
But why do you suggest so, if I may?

Okay, lemme drop this quick...
Buy Limit on EURAUD
@ 1.6676
SL@ 1.6636
TP@ 1.6767

wuyexzy01:

My dear I don't know how you gauge ur trend. But it's clearly on a down trend at least to me. Maybe slightly on a retrace though. Look at it on a bigger screen to see whether it's on a downtrend or not. I have my s.l in place if it's going otherwise. If you do bet on trend. This is on a down trend. A daily close above 0.8619 will change the whole narrative.

Alright.

wuyexzy01:
.
That bearish candle on 25th of last month is not something to dare. That level has been respected executively on a daily. Wicks don't lie they tell a story.

I totally agree with you, but do you really think a single candle tells the entire story?

EmmanuelVi:

You might really want to look left again though.

@wuyexzy01 there could be a chance for shorts there at the .8605 Weekly level (blue line) (but it's not clear yet, price action's still a bit shady), in order to form a pullback for the current daily uptrend but there soon comes a major Daily support level at .8586 (red line) and ultimately the .8570 area which is Monthly support (black line), these should be enough to stall whatever bearish momentum that may build from the .8605 level, then the pair can resume it's ascent; the pair is clearly bullish, I beg to disagree.

So the .85147 level you say, I kinda doubt that, but then again...let the market decide.

wuyexzy01:

Seems like a sell will be good. Sell at current price with S.L at your T.P then target 0.85147. That's even the near term target. That thing is heavily bearish. E go fall yakata.

You might really want to look left again though.

peteregwu:


On Gbpusd I shared last week, at last it hit tp 😎😁

Beautiful one bro, keep it up.

The XAU has recently shown bullish momentum from the Weekly level and while this is really attractive, I'm standing at the shoreline on the Daily till the 1937 Weekly level has been worked out; whichever way it goes, I'll follow, but the upside should be the most lucrative for me.

nzechu:
the journal of a witch

xauusd

buy now
tp 423
use appropriate SL

load with one lotsize one trade

Modified:
Sorry I don't get, are you swinging?

rhynoemmie:
Possible short bias

Will be selling if price gets to the ob

Let me see the effect news will have on this pair.

Goodnight abeg

This forex is nobody's mate

I think it is very likely to get there and go even way beyond...148.65 level is TP for me.
All three trends are in line (I really love that part about this Yen pair); Monthly, Weekly and Daily are all in congruence, the pair is strongly bullish.

infofirst:


I missed you too boss mi.

Amen to all the wishes and prayers. GOD BLESS US ALL.

The number one man; thank you Sir, may God bless you even the more.

EmmanuelVi:
I sha miss this place oo

huff...can finally post charts
That was a test run pic (to see if I can upload images) but anyways..I took longs on EURGBP Weekly at the open of this week at the .8558 level and gunning for .8701 (top of swing). SL at .8515

I sha miss this place oo

OfficialP:
Here's the thought coming to my mind.

if you have 10000 prop account for. example, 5percent of it is 500 usd.

That's the actual capital you have to trade with. Trade the account with the mindset that your capital is 500, not 10000

Yes, you thought right, that is how prop firms are structured.
If you've got 100K account with 8% max drawdown, just take it that you've got an 8K account (8% of 100K) to trade with; so if you were to be risking 2% of your account per trade, it is best to reference that 2% risk to the overall capital you have to trade with which is 8K (for the 100K account instance), this would give you a risk of max $160 per trade compared to $2K per trade as relate to 100K.
If most prop traders thought like this and painfully followed that regiment, there would be a lot less blown accounts in the industry (at least, would take longer times to crash each one).

nzechu:
at least for today my neighbour kept his word

Thank God for that.

infofirst:
Prop firms will keep growing as long as people keep trading this way.
Those are lots taken on a $10k funded accts.
You can try it at home too.

Note.. Those are not my trades o. My chicken heart never mature reach that level.

Awon "go hard or go home" bayi😂😂

harizonal123:
The holy grail perfect entry everyone keep searching for

Precise entry, welldone man.

nzechu:
Gold should not defile 1937. I HV called the driver of their bus who hapens to be neighbour. I TolD him that he should turn back down before he reaches 1937. and he concurred with me

Broda, e go shock you oo😂😁

saintelvnn:


Saw a confirmation have been waiting for also..weak rejection at kl and bearish momentum candle...trend breakout tends invalid
Sold GU
20pips target

I really don't thing that was a proper technical breakout; I mean, that was a 4hr structure, sk you could have waited on the 4hrs confirmation of breakout.

Donsheddy:
Gu market structure dey somehow oh... I dey see bears and bulls... But i go ride with bulls sha.

The confusion is as a result of the little strength the DXY had last week due momentum from parallel support.
As for me for now, I see absolutely no reason to long the USD yet, not until price structure affirms a new direction.
I'm still holding shorts for now till market says otherwise.

nzechu:
sell with me @witchcraftfx

sell limit: 23% level
TP: 423% level

stop loss: 0% level

Due to the ranging action on that same Weekly TMF, I've got eyes on the 1.1531 level (my Monthly resistance), still holding Longs till that level.