balut's - Trading journal

[Omoba9ce]

I got emotional again and it happened too fast when I clicked the sell button in USDCAD. I saw a slight bearish momentum lately and next thing I know I already have a selling position. This is not the best selling setup so I'm ready to abandon it once my sell bias gets invalidated.

balut I agree, the set up is not convincing enough for a downward move, so even I closed my sell positions from the previous week earlier in the day with a minor loss. Until price clears below it's previous low at 1.2728 before I'll jump in the downtrend and target the 1.2540 level as its next support level.

[Oghale]

Usd CAD may not be convincing enough to sell but that does not stop it from selling, it has done some wild movement down before now and I believe what is happening at the moment is just a consolidation before we see another leg down, patient is just the key to this pair because it can be stuck in a place for some time.

[Batavia]

according to me about USD CAD i think this pair will going down the strong bearish can seen on weekly chart and price will want to going 1.26xx but before it i think pair will try to hit 1.2847 the opening price for last week. and then pair will go down again

[penuelophir]

according to me about USD CAD i think this pair will going down the strong bearish can seen on weekly chart and price will want to going 1.26xx but before it i think pair will try to hit 1.2847 the opening price for last week. and then pair will go down again

Well, personally some of my apparatus I used in trading have changed into moving upward for now, and I believe that with time it would fully change into bullish market unless something else happens and makes it to change direction for now.

[balut]

TRADE UPDATE:

I bought the CHFJPY because it showing some bullish signal and I think it's oversold at the moment. It has been going down for 3 months since February and a retracement or reversal should take place in the near future. This trade is not based on weekly analysis so it's a premature buy entry and I may close it if I get nervous again.



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balut I agree, the set up is not convincing enough for a downward move, so even I closed my sell positions from the previous week earlier in the day with a minor loss. Until price clears below it's previous low at 1.2728 before I'll jump in the downtrend and target the 1.2540 level as its next support level.

I also closed my USDCAD buy position with a minimal loss because I'm not sure what's going on to this pair. It's still trap inside the cloud and it has a 50% chance to either go up or go down. It's not worth suffering the stress due to weak sell setup.

[mikehenley]

TRADE UPDATE:

I bought the CHFJPY because it showing some bullish signal and I think it's oversold at the moment. It has been going down for 3 months since February and a retracement or reversal should take place in the near future. This trade is not based on weekly analysis so it's a premature buy entry and I may close it if I get nervous again.



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I also closed my USDCAD buy position with a minimal loss because I'm not sure what's going on to this pair. It's still trap inside the cloud and it has a 50% chance to either go up or go down. It's not worth suffering the stress due to weak sell setup.

Good that you close your SELL position with USDCAD, 11-May and 14-May Daily Candle close is pushing the price upward, and the result is the big move today

[Bobby brown]

Good that you close your SELL position with USDCAD, 11-May and 14-May Daily Candle close is pushing the price upward, and the result is the big move today

i didn't expect the move that usd/cad made today.i don't trade fundamental,i trade only candle pattern using technical analysis so i got in early before the news came out and it helped my take profits to hit quickly using the small bonus i got from this forum,thanks to mt5 forum and also to insta forex for the opportunity to show my skills in the real world.

[kanyB1]

Well, personally some of my apparatus I used in trading have changed into moving upward for now, and I believe that with time it would fully change into bullish market unless something else happens and makes it to change direction for now.

Attachment 77455

i think that's just true. currently am trading USDCAD am very optimistic that the price will get to 1.30406, even though this might take some whole lot of time am still certain it will get there and doing this with a small time frame because my analysis was made with a big time frame, but still we all have our decisions to make, if actually you decide to go the bearish direction you still might be right in a short term and still make your profit, because what really counts here is the result.

[dedy hari kurniawan]

TRADE UPDATE:

I bought the CHFJPY because it showing some bullish signal and I think it's oversold at the moment. It has been going down for 3 months since February and a retracement or reversal should take place in the near future. This trade is not based on weekly analysis so it's a premature buy entry and I may close it if I get nervous again.



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I also closed my USDCAD buy position with a minimal loss because I'm not sure what's going on to this pair. It's still trap inside the cloud and it has a 50% chance to either go up or go down. It's not worth suffering the stress due to weak sell setup.

CHF/JPY on W1 chart is still bearish condition and also on D1 chart but there is correction upward, if price can't break previous resistance then price will come back down. Hopefully your TP on CHF/JPY can be achieved.
About your sell position on USD/CAD is the right choice to close position if not you will be get many loss. USD/CAD moving up quickly after US data release yesterday, this means USD is still strong on all major currencies.

[balut]

TRADE UPDATE:

This AUDJPY buy position is giving me a heart attack due to AUD Wage Price Index q/q negative result. It went down and I thought it's over but after a few hours it came up again. As a result of that, AUDJPY made a four tweezer candles that indicates indecision. I think it's waiting for tomorrow's AUD big news about Employment Change & Unemployment Rate. My plan here is simple, if the daily candle closed below the moving average(red) then I'll exit it without a heartbeat. But if the AUD news tomorrow turned out both positive then I may add another buy position again.



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After I closed my USDCAD sell position yesterday I decided to buy it today due to recent bullish candle and it's sitting above the cloud former resistance and now it's acting as a support. It's most likely that this pair will be heavily driven by fundamental this week because tonight will release the USD Building Permits and Crude Oil Inventories while on friday there's a big news for CAD about CPI and Core Retail Sales.





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Good that you close your SELL position with USDCAD, 11-May and 14-May Daily Candle close is pushing the price upward, and the result is the big move today

Yes, it was a close call and fortunately I was able to exit before it jump upward.

i didn't expect the move that usd/cad made today.i don't trade fundamental,i trade only candle pattern using technical analysis so i got in early before the news came out and it helped my take profits to hit quickly using the small bonus i got from this forum,thanks to mt5 forum and also to insta forex for the opportunity to show my skills in the real world.

Congrats! That's a nice buy trade you got there.

CHF/JPY on W1 chart is still bearish condition and also on D1 chart but there is correction upward, if price can't break previous resistance then price will come back down. Hopefully your TP on CHF/JPY can be achieved.
About your sell position on USD/CAD is the right choice to close position if not you will be get many loss. USD/CAD moving up quickly after US data release yesterday, this means USD is still strong on all major currencies.

Actually I already closed my CHFJPY because it was only a test buy inside the bear trend. I know it's still my weakness to do irrational trading. I got lucky on USDCAD for exiting early.