longlife20:
GBP/USD chart is bearish, it is likely going to be bearish next week

maryjames9:


GU is not bearish. It is bullish. Daily, weekly and monthly.

TraDeRR:


What time frame is this ?
Ok daily

TraDeRR:


4H showing a possible uptrend.. even daily.. weekly not showing sign of lost upside momentum..
I’m looking at price action tho.. I might be wrong

infofirst:




GU long term have been bearish. It's beginning to show sign of change of long term trend. Considering the last low of 1.19* and a retest all the way to 1.21***. Price need to stay comfortably above 1.33** for the long term bias to change.

Yes.. The 800pips rally up to 1.3*** need to shed some pips lower for price to move higher.


So Gu is bearish and not bearish
Gu is bullish and not bullish.
Bull and bear will make green pips because they buy low and sell high.
Only pigs will be slaughtered because pigs buy high and sell low.
The choice is yours. Green pips to us all this coming week.

Time change... Mkt to open 11pm NGN time today.


And did we make some decent percentage last month? I closed the month positive

maryjames9:


GU is not bearish. It is bullish. Daily, weekly and monthly.

maryjames9:


GU is not bearish. It is bullish. Daily, weekly and monthly.

THExxCRAFTERxx:
Hello Traders,

Are we ready for the first trading week of the month?

If YES, let's hit the charts...

After Gold embarked on a bullish rampage on Wednesday, it got stopped dead in its tracks by a strong resistance level (1514.40)

At this point, price has two options:

A breakout which could further encourage price to continue it’s bullish move to the next possible resistance level (1534.09) or
Price could reverse and head back to seek refuge on the support level 1495.40

Personally, my bias lies in the former, but again, we have to ensure we get a breakout confirmation before we follow the trend.

What are your thoughts?

longlife20:


If you look at daily properly this week, you will see rejection before Friday closed with bearish candle, there will be pull back to around 1.28 before the uptrend or downtrend will continue. Right now with the uncertainty around brexit and election coming up 12 December 2019, cable is likely to follow the downward trend.

I might be wrong.

Dwayne22:
I want to ask something...


why do professional traders make use of 1h or 4h time frame, instead of 15mins or 5mins?

maryjames9:


........... My intentions were not to analyse the market as to what GU would do.....

Mind you, these are just for the sake of analysis and theories. When the real life prices start, you have to follow your strategy.

djwalata:

u hardly find a renounced trader trading less than 4TF. Using 4Tf and above gives u a better and clearer picture of d market price action, less (fake) signals, gives u more freedom to do other things instead of opening ur phone/laptop almost every minute for update.

maryjames9:


My intentions were not to analyse the market as to what GU would do this new week. It was just to point to what I felt I was seeing in the daily, weekly and monthly chart which seems more like bulish than bearish. However I think I see what you are trying to say. Last week Monday, a bulish engulfing bar was formed and Tuesday was Three outside up bar, and then as expected Wednesday, Thursday and Friday bar quietly formed bulish bars respectively. Next should technically be the formation of Bearish engulfing on monday and then next candle should be Three outside down on Tuesday which automatically meant Wednesday, Thursday and Friday will form bearish bar respectively, meaning we should expect a bearish market to 1.2822 daily support and 1.2763 weekly support level respectively before moving up to 1.3005 daily resistance or 1.3368 weekly resistance level or further crashing to 1.2612 and 1.2595 level.

However, in this market, I have learnt not to analyse what the market will do in the nearest future and how many pips it would go but to follow the chart as it moves and place trades accordingly, minding my analysed levels as guide and possible daily and weekly TP levels.

Mind you, these are just for the sake of analysis and theories. When the real life prices start, you have to follow your strategy.

infofirst:
..........

Knowledge +experience =Wisdom
Hopefully grow to be like you boss mi. Good overview

maryjames9:


Still consider myself a learner until such a time I can raise my equity to a particular dollar figure trading forex full-time.

Dwayne22:


can scalpers also use it or is it only intraday traders that make use of it?

maryjames9:
I don't usually give advise here but after I read one article someone post here on confessions of traders, I think I should just drop this here.

1. Don't use any other timeframe besides daily or weekly. You can use 8 hours if you have it but nothing less. I am saying this because people keep asking the questions of best time frame for trading forex. For forex, commodities the best and most profitable TF is Daily. For indices.

Do have a greenful week.

Edd1e:


I found this wrong, traders find using candlesticks better than bar charts, there are many advantages using candlesticks to bar chart in terms of visualization... Even Heiken Ashi charts and Renko can be used greatly if you know how to..
Traders should basically know and use what works for them..

Edd1e:


I found this wrong, traders find using candlesticks better than bar charts, there are many advantages using candlesticks to bar chart in terms of visualization... Even Heiken Ashi charts and Renko can be used greatly if you know how to..
Traders should basically know and use what works for them..

Fmusty:


Thanks for this... The minimum I do is daily for entry.... My support and resistance focus is weekly and monthly.

I will check out d bar chart.

Fmusty:


It can only make small sense if the person is using 0.01 Lot size on a 1million dollar account.

Definitely a terrible way to trade... That person is a gambler.

TheYoda:
The trade I’m looking to take this week.

Watch-list-
Buy
EurAud ,
Sell
AudChf, AudCad , NzdCad

Buying @ S61 and S78.
Selling @ R61 and R78

maryjames9:


Go with the chart that work well for you please. Most important thing is profit

longlife20:
This is my Oyel chart for next week, I expect price to pull back to 55.45 before moving up to 56.80 as first target and second target is 58.00. This week it went the way I plan it , hope it wil be like that next week.
Cc. Current price, what ur take on this.
Cc. Inforfirst