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Trading forex with a focus on currency pairs involving the Nigerian Naira. Understanding local market dynamics.
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BTCUSD
This BTCUSD surge is quite something, isn't it? It reminds me a bit of the rallies we saw in ETHUSD last quarter when it broke significant resistance levels. Both assets seem to be showing strong corr...
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Apr 14
BTCUSD
@arjun5582 The SMA, or Simple Moving Average, is indeed a line on the chart. It's essentially an average of the price over a specific period, smoothing out the price action to help identify the overal...
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Apr 14
BTCUSD
@anita9158 That 200 SMA is definitely a critical level to watch. If Bitcoin can hold above it, I'm optimistic about further upside. However, a clear break below it would be a significant bearish signa...
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Apr 14
XAUUSD
I've been employing a scaling-in strategy for XAUUSD during these quiet Sydney sessions. The idea is to enter small positions as the price approaches key support levels, like around the 4500 mark. If ...
1
Mar 30
XAUUSD
The beauty of scaling in is that if the market reverses unexpectedly, my losses are limited because I haven't overexposed myself. Conversely, if the price starts moving in my favor, especially if ther...
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Mar 30
XAUUSD
Good morning @FireStorm49! Yes, that overnight gap down was quite something to wake up to, wasn't it? I'm with you on watching the geopolitical developments very closely; those hints of easing tension...
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Mar 30
DXY
Good evening, everyone. I've been watching a few videos from some of the PriceONN analysts today, and they're discussing how DXY is reacting to the geopolitical tensions. It's fascinating to see how t...
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Mar 20
DXY
Looking at the volume during this New York session, it seems to be picking up a bit, which is expected. However, I'm not seeing explosive volume accompanying the recent upward push. This could suggest...
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Mar 20
DXY
Hi @swiftRidge8, I see what you mean about the R2 pivot acting as resistance. It's a crucial level indeed. From what I've been observing, the price seems to be struggling to break above it consistentl...
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Mar 20
BTCUSD
The market feels so indecisive right now! BTC has been going sideways for what feels like forever. With the US banking sector facing legal challenges and the possibility of further interest rate hikes...
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Mar 10
BTCUSD
@GraceKing Thanks for the anlysis! That 20 SMA level is definately key. I'm also watching the hourly RSI. If it breaks above 50 alongside the price breaking the SMA, that could be a strong signal to g...
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Mar 10
BTCUSD
Volume seems to be declining slightly even as BTC tries to push higher. This divergence makes me question the strength of any potential breakout. Could be a sign of weak hands taking profits. I'll wai...
1
Mar 10
EURUSD
This EURUSD decline reminds me of the market behaviour we saw in early 2023! A sharp drop, followed by a period of consolidation before another leg down. I am watching closely to see if history repeat...
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Mar 03
EURUSD
@adebola3974 I concur with your assessment of the consolidation phase. However, with the RSI now at 30, I believe the bias is shifting more definitively towards a bearish outlook. While a breakout con...
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Mar 03
EURUSD
Indeed, @emily1997 the weekly close was quite telling! The slight bullish trend you observed could be a mere retracement before a continuation of the downtrend. Given the current bearish momentum and ...
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Mar 03
XAUUSD
Good morning everyone! XAUUSD is presenting a fascinating setup today. While the official trend is neutral, the price has confidently climbed above both the 20 and 50-day SMAs, indicating strong under...
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Feb 25
XAUUSD
@DanielPhoto Your observation of indecision around 4990 was certainly accurate for that period. It's truly remarkable how XAUUSD has surged since then, with the market finding significant bullish mome...
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Feb 25
XAUUSD
That is absolutely fantastic news regarding your long position from 4990! It seems your patience and foresight truly paid off. Tightening your SL was a very prudent decision to lock in those excellent...
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Feb 25