Good evening Davigle. Your charts are great and i share the same bias too.

Dxy printed a LH when 10Y took out it's 02/10/23 weekly high on wk tf which also happened on AU and ZN for bonds too.

For now the questions i ask myself before taking a trade

-What is the htf doing

-Where is price coming from IRL/ERL

-Where is price now P/D, IRL/ERL and

-Where is price likely to go next P/D, IRL/ERL

Coupled with time of the day for entries.

Davigle:
Hello fams, here's my view on the market this coming week,
DXY 👇👇👇:
From a fundamental point of view, investors sentiment on the DXY is bearish as a result of decline in treasury yields and Powell's hawkish remark on raising interests rates, this makes investors to believe that if CPI comes out lower it will confirm that the Fed's are done with hiking interest rates and that they will start cutting interest rates in either May or June 2024. The rippling effect is that we may see a drop in the bond market and DXY which will drive the stock market up as well as foreign currencies.
Now technically speaking I'm bearish on the DXY see charts below.

cc: abham, rhynoemmie, jameselias and @all

Well spoken Efe, show us your track record because most of us here are still learning and a few people might even contact you for mentorship.

efe21:

Because I am seeing this trend for the first time.... It's remind me of all those Forex forums that year when men were still coming up as traders. LoLzzzzz 😁😁😁.... Someone above was even explaining the chart with DXY nonsense forgetting that price action backed with the market structure per time is the Koko..... Trading is too simple without much over analysis.

Common change in character followed through with break of market structure and a retest with the formation of the candlestick pattern to cement the confluences will give you a good entry that will cummulate in a profitable trade per time.

Then rinse and repeat over and over again with good money management in place (stop loss and take profit level established), then you are good to go..... LoLzzzzz .

Gasive:


Interesting, really interesting.
I admit we will learn one or two things from you if you will be generous enough to teach us. We will like to see how your concept works in real time too when the market reopens. I hope you will share your trades with us as they unfold?

PS: @the bolded, you have to criticize constructively, it's like an unwritten rule here.

Don't mind me jareeee; I was only passing through. My sincerest apologies on the bolded, I don't actually mean it that way; I imply it more about trading practically than theoretically. My apologies again to the trader that posted what I referenced in the bolded.

Gasive:



Pardon am abeg, na new member.

Lol

abham:
Well spoken Efe, show us your track record because most of us here are still learning and a few people might even contact you for mentorship.

Haaaaaaa... Mentorship keeee... Nooooo . Thanks so much Bro for the encomium, was only passing through though because I honestly just saw the trend on nairaland. Didn't know there is a trading community here on nairaland. Kudos to the Op that created such a great trends as this, and I salute all of you for keeping it real too. I wish us all a profitable trading week ahead this week... Cheers 🍷.

efe21:

Haaaaaaa... Mentorship keeee... Nooooo . Thanks so much Bro for the encomium, was only passing through though because I honestly just saw the trend on nairaland. Didn't know there is a trading community here on nairaland. Kudos to the Op that created such a great trends as this, and I salute all of you for keeping it real too. I wish us all a profitable trading week ahead this week... Cheers 🍷.

might I correct u, its thread not trend. Oya correct me your own

Geovanni412:


Hmm..

Here's what I know

With lot size of 0.01 on xauusd, your risk can be less than1% with very wide stop loss even on some of the smallest prop firm accts ($15k)

If your entry on xauusd is at 1938 and stop loss is 1968...


Your risk is 30*100* (lot size)

So if lot size is 0.01, risk is 3000*0.01 = $90

That is within 1% risk of the smallest prop firm Acct

Abeg come mentor me for all these ya calculations na.


Biko sir.

Market go soon open ooo, make una no bewitch us abeg.



If Gold should get to 1950 area and Tuesday come no too go well, na 1800 area we dey go be that ooo.

efe21:

Don't mind me jareeee; I was only passing through. My sincerest apologies on the bolded, I don't actually mean it that way; I imply it more about trading practically than theoretically. My apologies again to the trader that posted what I referenced in the bolded.

Apologies accepted on his behalf. You're welcome to becoming part of the community too. We will be keen to learn from your practicality.

rhynoemmie:


Your charts are great.

I dont think dxy is going to be making any bearish moves. That gap up there is too grand to miss.

Price is itching to get there.


You didn't do EU and hi?

Yes I did do EU and GU for study purpose but since you asked I'll post it below 👇👇👇
Cc: rhynoemmie

LincolnOnyeabor:



Abeg come mentor me for all these ya calculations na.


Biko sir.

This one na based on observation

You watch how ya balance dey affected and figure out how the risk is being calculated.

Just try it on a demo using the formula I put up there, go long and short and notice the amt lost or won.

efe21:

Because I am seeing this trend for the first time.... It's remind me of all those Forex forums that year when men were still coming up as traders. LoLzzzzz 😁😁😁.... Someone above was even explaining the chart with DXY nonsense forgetting that price action backed with the market structure per time is the Koko..... Trading is too simple without much over analysis.

Common change in character followed through with break of market structure and a retest with the formation of the candlestick pattern to cement the confluences will give you a good entry that will cummulate in a profitable trade per time.

Then rinse and repeat over and over again with good money management in place (stop loss and take profit level established), then you are good to go..... LoLzzzzz .

God bless you my bro. Trading is simple and easy if and only you won't make it extremely complex for yourself because you went through some loss streaks.

You can take my word to the bank. What you need is not too much. Follow a trend, wait for a few retracement, immediately you see a continuation after the retracement, hop on it. Don't make your TP too far so you can earn your money before the next retracement, and if your head carry am, make your TP farther and stay when the next retracement occurs, it will definitely continue after. And if it doesn't and the trend ends, so be it. You hop on another market. Unless you're extremely unfortunate, there's no way every trend would end because you hopped on them.

Over complexity kill people in this business. Whatever indicators you use are not special, they are just working based on the naked price actions your eyes were blind to see. Have you been to Dubai before? Don't you want to go there? If you follow these simple rules I highlighted, you will go there and chop life, and who knows even live there for the rest of your life. Basically they've got everything the Holy books(Bible and Quran) promised in their imaginary paradise here on earth.

abham:
Good evening Davigle. Your charts are great and i share the same bias too.

Dxy printed a LH when 10Y took out it's 02/10/23 weekly high on wk tf which also happened on AU and ZN for bonds too.

For now the questions i ask myself before taking a trade

-What is the htf doing

-Where is price coming from IRL/ERL

-Where is price now P/D, IRL/ERL and

-Where is price likely to go next P/D, IRL/ERL

Coupled with time of the day for entries.

I'm also keeping tabs on AUDUSD because I suspect a monetary policy divergence.
I think there might be a huge bullish rally or run in the coming weeks or months on AUDUSD, this maybe due to the fact that the Fed's new stance on keeping interest rates unchanged or cutting it down in the future (this may be confirmed if CPI does come out lower) and the RBA are still hiking interest rates, we may potentially see a monetary policy divergence between the USD and AUD, and as a result a significant rally in price should manifest on the Aussie. Now that's from a fundamental point of view, I really wish they update the COT reports so that we can see what the commercial's position is on the AUD, I would be keeping tabs on AUDUSD due to this new development and see how price unfolds cheers. I would also like to know your view on this. Although I maybe wrong though but I would like to see how it plays out for study purpose.

Just came online on Twitter and I'm seeing that Gold Spiked down to 1920!

Na Glitch abi wetin exactly??

Monday market, the chart looks normal, no gap occurs in the oil market, oil price is now traded at 76.81 and draws retracement. There is news used car market is In turmoil as prices collapse and demand wanes. This news may suggest that there is a decrease in demand for fuel, which may influence oil prices.

Happy new week guys

LincolnOnyeabor:
Just came online on Twitter and I'm seeing that Gold Spiked down to 1920!

Na Glitch abi wetin exactly??

Rollover period things

LincolnOnyeabor:
Just came online on Twitter and I'm seeing that Gold Spiked down to 1920!

Na Glitch abi wetin exactly??

On which broker?

Xauusd still dey 1934... I even reentered ard 1936...

If it is bearish today as opposed to range, I don't expect it to retest 1947

Opportunity

Buy for GBPCHF

Sell for EURGBP

Geovanni412:


On which broker?

Xauusd still dey 1934... I even reentered ard 1936...

If it is bearish today as opposed to range, I don't expect it to retest 1947

1921. Sunday session on Exness.

Fxwarrior:


1921. Sunday session on Exness.

Could you share the chart with us?

Good morning Davigle.

All your ideas are accurate, we should be expecting a rally in AU from the look at fundamentals.

Also 25/10/23 high was the bullish BMS not 11/10/23 you marked.

Like I stated in my last post, the failed high in Dxy and the LL on ZNand AU is a confluence that price might go lower on Dxy and 10y because the later printed a HH.

But then they might just go below 03/10/22 low and that is a really deep discount. Today will show us the road map and CPI too.

Davigle:


I'm also keeping tabs on AUDUSD because I suspect a monetary policy divergence.
I think there might be a huge bullish rally or run in the coming weeks or months on AUDUSD, this maybe due to the fact that the Fed's new stance on keeping interest rates unchanged or cutting it down in the future (this may be confirmed if CPI does come out lower) and the RBA are still hiking interest rates, we may potentially see a monetary policy divergence between the USD and AUD, and as a result a significant rally in price should manifest on the Aussie. Now that's from a fundamental point of view, I really wish they update the COT reports so that we can see what the commercial's position is on the AUD, I would be keeping tabs on AUDUSD due to this new development and see how price unfolds cheers. I would also like to know your view on this. Although I maybe wrong though but I would like to see how it plays out for study purpose.

ok.

efe21:

Haaaaaaa... Mentorship keeee... Nooooo . Thanks so much Bro for the encomium, was only passing through though because I honestly just saw the trend on nairaland. Didn't know there is a trading community here on nairaland. Kudos to the Op that created such a great trends as this, and I salute all of you for keeping it real too. I wish us all a profitable trading week ahead this week... Cheers 🍷.

Geovanni412:


Could you share the chart with us?

Exness...

OneMillionBTC:
Opportunity

Buy for GBPCHF

Sell for EURGBP

Boss i think a buy on the GPBCHF IS A SUICIDE mission as the overall trend is pointing downwards , I m currently on a sell, but let's wait and see.

Geovanni412:


Could you share the chart with us?

Please someone should help this brother. My screenshot button is faulty.

Dreamscapar:


Exness...

Kindly share sunday daily.

What I observed is that some brokers have Sunday and Monday separate, while some have it combined and others don't even show Sunday.

Fxwarrior:


Please someone should help this brother. My screenshot button is faulty.

Someone already did above.

I don't think it affects much sha...we still have to wait till end of day and possibly Tuesday to know if mkt may push to the target to 1830 smoothly or range.

Dreamscapar:


Exness...

Thanks

Geovanni412:


Someone already did above.

I don't think it affects much sha...we still have to wait till end of day and possibly Tuesday to know if mkt may push to the target to 1830 smoothly or range.

Experience has taught me not to ignore price rejection, be it on weekly or daily.

XAU USD was on rollover period, the spread was wide as there was low volatility... It is normal... It reset later.

Geovanni412:


Someone already did above.

I don't think it affects much sha...we still have to wait till end of day and possibly Tuesday to know if mkt may push to the target to 1830 smoothly or range.

What he shared is 5 minutes. The candlestick of interest is Sunday daily.