Lanshile:

Price has become invalidated
Closed at breakeven
Price making move in between the 2 point I marked makes it difficult for me to get a clear direction
The latest close invalidated it

Trading 1 pair for mastery is the key. Checking many pairs while learning makes Mastery very difficult. Stick with one pair and learn it's behavior and you will not only gain mastery in that pair but all other pairs.

pijam:
Trading 1 pair for mastery is the key. Checking many pairs while learning makes Mastery very difficult. Stick with one pair and learn it's behavior and you will not only gain mastery in that pair but all other pairs.

This is superb

CBN Raises Interest Rate To 15.5% To Curb Rising Inflation

Good move?

OfficialP:
CBN Raises Interest Rate To 15.5% To Curb Rising Inflation

Good move?

Yes but it doesn't make amends for the current inflation rate.

Current inflation rate is 17.7% if am not mistaken.
The idea of the increase in interest rate is to encourage savings which somehow reduces the money in circulation

Fxmanager:
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Na all of us gather dey come the forest.
There are so many grass and wood to chop off

Obnoxious2001:

Yes but it doesn't make amends for the current inflation rate.

Current inflation rate is 17.7% if am not mistaken.
The idea of the increase in interest rate is to encourage savings which somehow reduces the money in circulation

nobi who get money eat belle full would save

Closed!

I have seen great improvement learning and trading just eurusd, while I check also the dollar index. From my observation eurusd among the dollar pairs has closest behavior to the dollar index. Keep learning guys

pijam:
I have seen great improvement learning and trading just eurusd, while I check also the dollar index. From my observation eurusd among the dollar pairs has closest behavior to the dollar index. Keep learning guys

Trust me you are the next big trader if you continue like this

pijam:
I have seen great improvement learning and trading just eurusd, while I check also the dollar index. From my observation eurusd among the dollar pairs has closest behavior to the dollar index. Keep learning guys

You are spot on. One of the earliest books i read on fx trading - Naked forex by Alex Nekritin, the author commented that traders focusing on only one pair can have accuracy as high as 80 percent..
The only thing I'll add is this - shift your focus to GBPUSD in addition to EURUSD or instead of EURUSD. GBPUSD can make you way more money in a similar time span. Last week Friday is enough to serve as an example.

Geovanni412:


You are spot on. One of the earliest books i read on fx trading - Naked forex by Alex Nekritin, the author commented that traders focusing on only one pair can have accuracy as high as 80 percent..
The only thing I'll add is this - shift your focus to GBPUSD in addition to EURUSD or instead of EURUSD. GBPUSD can make you way more money in a similar time span. Last week Friday is enough to serve as an example.

You are correct, they are fundamentally the same but cable moves faster than fiber

Evening traders, am preparing for a big sell on GBPUSD till level 1.04960

Ah.

Me i dey see head & shoulder formation on H1 o.

Anyway until price break that right neck high on Gbpusd & Gbpjpy. Pattern traders mk una help me validate that H & S on H1.

VlamesIffect:
Ah.

Me i dey see head & shoulder formation on H1 o.

Anyway until price break that right neck high on Gbpusd & Gbpjpy. Pattern traders mk una help me validate that H & S on H1.

Hmnn! 10893
Edited: It has touched it already; the inverse HnS is correct but the low is too far away; I can't trade long with over 400 pips under me; where do I place my SL?

Elliotwaveforec:

Hmnn! 10893
Edited: It has touched it already; the inverse HnS is correct but the low is too far away; I can't trade long with over 400 pips under me; where do I place my SL?

That's why I'm waiting for the retest. Maybe some price structure might form.

VlamesIffect:


That's why I'm waiting for the retest. Maybe some price structure might form.

Ok! Allow the other shoulder to form before entering; it just broke the neckline.

I expect the left shoulder to form near the Head (10836).

From wave count, 4 hours TF, price will touch 10929 again.

Meanwhile, JPY traders should know that BOJ has started selling USD they've been buying for several years now.

Oil price trade below 80 level price.
According analyst from Oilprice, the next OPEC+ plus meeting could make surprise

Elliotwaveforec:

Ok! Allow the other shoulder to form before entering; it just broke the neckline.

I expect the left shoulder to form near the Head (10836).

From wave count, 4 hours TF, price will touch 10929 again.

Meanwhile, JPY traders should know that BOJ has started selling USD they've been buying for several years now.

Since 1998 actually.

We expect a strong jpy going forward.

Elliotwaveforec:

Ok! Allow the other shoulder to form before entering; it just broke the neckline.

I expect the left shoulder to form near the Head (10836).

From wave count, 4 hours TF, price will touch 10929 again.

Meanwhile, JPY traders should know that BOJ has started selling USD they've been buying for several years now.

It failed to Form. Massive sell during asia. See hiw london goes.

Geovanni412:


You are spot on. One of the earliest books i read on fx trading - Naked forex by Alex Nekritin, the author commented that traders focusing on only one pair can have accuracy as high as 80 percent..
The only thing I'll add is this - shift your focus to GBPUSD in addition to EURUSD or instead of EURUSD. GBPUSD can make you way more money in a similar time span. Last week Friday is enough to serve as an example.

Thanks for shedding light on this, the only thing i will add is, Beginners who don't have control over their emotions should have nothing to do with GBPUSD because of its volatility, talking from my little experience, However there're lots of similarities in both pairs but EURUSD is mote ideal for beginners who want to focus on one pair.

Sus4:


Thanks for shedding light on this, the only thing i will add is, Beginners who don't have control over their emotions should have nothing to do with GBPUSD because of its volatility, talking from my little experience, However there're lots of similarities in both pairs but EURUSD is mote ideal for beginners who want to focus on one pair.

Good observation. It is ideal to start from eurusd then slowly move towards gbpusd. If a beginner wants to try out gbpusd, they need to either know bar counting or have some method of estimating where the pullback will be. Knowledge of where to place stop loss is also crucial. GBPUSD is doing price discovery - this is the lowest it has ever been from 1971 till date from the chart i pulled up on tradingview. For this reason, I use ATR indicator which tracks volatility changes to set stop loss - https://www.home.saxo/content/articles/thought-starters/how-to-use-the-average-true-range-to-place-your-stops-02042020

Geovanni412:


You are spot on. One of the earliest books i read on fx trading - Naked forex by Alex Nekritin, the author commented that traders focusing on only one pair can have accuracy as high as 80 percent..
The only thing I'll add is this - shift your focus to GBPUSD in addition to EURUSD or instead of EURUSD. GBPUSD can make you way more money in a similar time span. Last week Friday is enough to serve as an example.

There is no better way of trading. Forex is all about psychological build, emotional tolerance and knowledge. Trading one pair may not work for everyone. Personally, I can't trade successfully on any time frame lower than H1. As a matter of fact, I prefer H4 and Above. For someone to trade successfully on a single pair, that person can't probably be dealing with entries on H4 or H1 because he will weared out waiting for setup.

I have built a lot of a experience while failing in trading, and one of them is; there is not best way of trading. Every trader should focus on what suits them best and stick to it.

I have tried trading my strategy on lower time frames like 15m and 30m and it was an abysmal failure because I get exhausted looking at the chart for long hours and they tend to fail more often on lower TF. I don't have that patience or time. On H4 I have alarms set on my phone every 4 hours. That's when I look at the chart to check for new setups apart from occasionally checking up on my running trade if any.

Just like life, there is a Niche is Forex strategy. Stick to yours.

pipfisher:


There is no better way of trading. Forex is all about psychological build, emotional tolerance and knowledge. Trading one pair may not work for everyone. Personally, I can't trade successfully on any time frame lower than H1. As a matter of fact, I prefer H4 and Above. For someone to trade successfully on a single pair, that person can't probably be dealing with entries on H4 or H1 because he will weared out waiting for setup.

I have built a lot of a experience while failing in trading, and one of them is; there is not best way of trading. Every trader should focus on what suits them best and stick to it.

I have tried trading my strategy on lower time frames like 15m and 30m and it was an abysmal failure because I get exhausted looking at the chart for long hours and they tend to fail more often on lower TF. I don't have that patience or time. On H4 I have alarms set on my phone every 4 hours. That's when I look at the chart to check for new setups apart from occasionally checking up on my running trade if any.

Just like life, there is a Niche is Forex strategy. Stick to yours.

There is no magic pill solution but it is hard to find what works for you if your attention is everywhere. That's the message the guy who i quoted his post was trying to say. That said, I agree with you that everyone has what works for them. Mark Douglas aptly captured this in his book, 'Trading in the zone' when he stated that the only rule in trading is what works. Finding it is up to the individual trader.

Hey guys...how's trading going today.
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They'll also be hosting a trading competition in November where participants who perform well get to win a free challenge account. This all happens on their discord. You can check them out if it's something you're interested in.
Also, If you're not interested in any of the free stuff and just want to try out the firm and buy a challenge account, they have some unique features. There are no minimum trading days and it's 40 and 80 days for phase 1 and 2 respectively.
https://discord./h2db6hJ7dt
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Geovanni412:


There is no magic pill solution but it is hard to find what works for you if your attention is everywhere. That's the message the guy who i quoted his post was trying to say. That said, I agree with you that everyone has what works for them. Mark Douglas aptly captured this in his book, 'Trading in the zone' when he stated that the only rule in trading is what works. Finding it is up to the individual trader.

I trade all Major and minor pairs efficiently because price action is price action! The only reason I don't trade exotics is because of the spreads and low liquidity!
I have not seen any signal since monday except for XAUEUR and XAUUSD. If I was to be trading one pair I will get frustrated waiting for setups and would probably be forced to trade outside my strategy. You know what that means. EURUSD had not given me my setup for close to 6 weeks on H4. What do you think would have happened if I was to trade only EURUSD. I will be second guessing.

God Did....

Be like GU go read below $1 .....
Well....

The dollar is on a no retreat, no surrender adventure......