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  1. #11051 You can automatically minimize the read posts in your account in the 'Forum Settings'
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    Hello, everyone!
    • Greetings to traders. Welcome to bappy4xs trading journal, and I hope you have enjoyed last weeks trading. Although I dont have enough capital to trade, and thats the reason I have been practicing with a demo account for a couple of weeks. However, the weekend has already started, and this is the time to concentrate on cryptocurrency trading. In contrast, in the last couple of weeks, I was not able to gain a single profit from cryptocurrency during the weekend. In the meantime, the price of Bitcoin made a massive bearish breakdown last week, and the price of Bitcoin reached below $40,000. Despite reaching a multi-week low of $39,500, the price of Bitcoin has been hovering in the bullish zone. As of writing, the price of Bitcoin is trading around the $42,500 price mark.

    Closed Trades Update:

    • A day before, I executed some buy orders for the GBP/USD and EUR/USD currency pairs while the price of the US Dollar Index was moving towards the bearish region. Both pair prices were trending in the bullish area, and I set the take-profit levels at the instance for all trades.

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    • Because of the weakening of the US Dollar Index, EUR/USD and GBP/USD was making a small bullish breakout, and as a result, GBP/USD trades hit the take-profit level. Although I closed the EUR/USD buy order manually to avoid the unwanted loss, at the end of the week, I was a gainer at all, and this is a challenging task to take a short-term trading opportunity on currency pairs.

    The Overview of the US Dollar Index:
    • The greenback movement from the US Dollar Index was stopped in the middle of the last week, and the price of the US Dollar Index was rejected from the weekly support line at the 92.95 price mark. However, after making the 4-week higher price at 93.49, the price of the US Dollar Index moved back towards the bearish region and retouched the weekly support line again. At the time of the market closing, the price of the US Dollar Index was trading around the 93.25 price mark.

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    • In the 4-hour time frame, the price of the US Dollar Index is entirely on the bullish trend, and at the beginning of the week, there were some ascending bullish trends from the US Dollar Index. However, the US Dollar Index market was very volatile during the FOMC statement, and the price of the US Dollar Index formed a long-legged Doji candlestick pattern towards the bearish region during the FOMC session. The MACD technical indicator formed a strong bullish divergence. On the other hand, the 100-Day and 200-Dy Simple Moving Average indicated the price of the US Dollar Index towards the bearish region. However, from a technical perspective, I am looking forward to a potential buying opportunity on the US Dollar Index, and the price of the US Dollar Index should be trading above the 93.80 price mark within the following week.

    A Sell-trade Opportunity in Bitcoin:

    The price of Bitcoin has been hovering towards the bearish region, and the greenback movement started after making the multi-month lower price of $39,500. There was a solid recovery towards the bullish territory, and the price of Bitcoin reached its higher price of $45,000.

    • Active Trades:


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    The Entry Point:
    • In the hourly time frame, the price of Bitcoin is entirely on the bearish trend, and the price of Bitcoin formed a bearish engulfing pattern in the hourly chart. Earlier this week, the price of Bitcoin pushed back towards the bearish region and made an initial support line at the $39,500 price mark. For a multi-month lower price, the price of Bitcoin was not stable towards the bearish region and pulled back towards the bullish area for recovery purposes.

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    • However, a bullish greenback created an initial resistance line of $45,111.From the technical perspective, the price of Bitcoin has been trending towards the bearish region, and the MACD technical indicator has formed some solid bearish divergence, which indicates a further bearish breakdown of Bitcoin. So, the perfect sell entry started from the initial resistance line of $45,100.

    The Exit Point:
    • There is a strong support level at the $39,526 price mark and, initially, the price of Bitcoin was rejected from the support line. Furthermore, the price of Bitcoin was trying to recover some price towards the bullish region, and there was the psychological mark of $50,000. The price was more stable below the psychological mark. However, the momentum of the price of Bitcoin is entirely on the bearish trend, and the price is aiming to reach below the $40,000 psychological mark.

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    • From the technical perspective, the price of Bitcoin is entirely in the bearish trend on the daily chart, and the MACD technical indicator has formed some solid bearish divergence on the daily chart. The Zigzag technical indicator formed a bearish turn too, but the moving average indicator indicates the bullish breakout from Bitcoin. However, the sell entry will exit when the price of Bitcoin cant reach below $39,000 and pull back towards the bullish region. A break of the $46,000 price will assure the exit point of the selling opportunity for Bitcoin. Overall, I am looking forward to a potential selling opportunity on Bitcoin for long-term traders, and the price of Bitcoin should be trading around the $35,000 price mark.

    Open Trades Update:

    • During the weekend, I like to trade in cryptocurrency, and I always select Bitcoin for cryptocurrency trading because of the higher volatility of Bitcoin. At the beginning of the session today, I executed some sell orders on Bitcoin. Currently, trades are floating with a good amount of profit.

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    • At this time, I am going through the long-term trading plan, and thats why I am not going to close trades with a lower profit. Now there are around $42 profits, and I did not set the take-profit and stop-loss levels for these traders because I will decide these levels later. However, I am sure that I can get good profits if I go through my short-term trading plan, and I will re-think it.

    Thats all from the center, and thank you very much for staying with me. Have a happy weekend with your friends & family.
    Last edited by bappy4x; 25-09-2021 at 03:59 AM. Reason: Replaced attachments

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  2. #11052 You can automatically minimize the read posts in your account in the 'Forum Settings'
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    Hello, everyone!
    • Welcome to bappy4xs trading journal, and thank you very much for commenting on my last journal update, including your appreciation. However, the weekend is going on and today is the last day of the week. During the weekend, I would like to share my trading concepts or plans for the next week, and I will be grateful if you benefit from applying these concepts or plans to your live trading. But I always recommend testing the strategy first on a demo account, and if you get back-to-back success, you may apply it to your live trading. Please dont forget to share the result through commenting whether you get success or not.
    • I mentioned earlier that I have some open orders on Bitcoin, and trades are floating with a loss. The price of Bitcoin made a strong bearish breakout last week, and the price of Bitcoin reached a multi-week lower price at $39,500. Though the price of Bitcoin broke the psychological mark of $40,000, then it should be trading around the $35,000 price mark soon. As of writing, the price of Bitcoin coin is trading around the $42,500 price mark.


    Graph of instruments used in trading:
    • Below you can find monthly graphical reports on your trading statistics through a pie chart.

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    • In September 2021, I made most of the white metal silver trades, which is 39.7% of the overall trades. I made other trades to complete the InstaFuture lot completion. However, I was successful in silver trading, but because of the withdrawal error, I did not control the capital properly, and at the end of the month, I lost all of my capital. However, I am currently planning a real investment through InstaForex, and I hope to recover all of my previous losses through a slow and steady trading style.


    The weekend overview of the US Dollar Index:

    • At the end of last week, the price of the US Dollar Index was moving towards the bearish region because of the downbeat news about the USD currency. The US Dollar Index was very volatile during the last week, and the price of the US Dollar Index reached a multi-week high price above the 93.48 price mark. There is initial support at the 92.95 price mark, and the price of the USD Index was rejected from the support line. In the daily chart, there is a strong resistance level at the 93.70 price mark, and the price of the US Dollar Index has been aiming to reach above the resistance line.

      Name: #USDXDaily.png Views: 271 Size: 68.3 KB

    • In the daily chart, the momentum of the price of the US Dollar Index was entirely on the bullish trend, and there was some ascending bullish trend at the end of the week. Technically, the MACD technical has formed some solid bullish divergences in the daily chart, and the current situation of divergences indicates a further bullish breakout from the US Dollar Index. The zigzag technical indicator has already formed a bullish turn, but the moving average indicator does not indicate the bullish breakout from the US Dollar Index. However, within a few hours, the market will open again, and we may see a little bullish market gap from the US Dollar Index. So, overall, I am looking forward to a potential buying opportunity on the US Dollar Index, and the price of the US Dollar Index should be trading above the 94.00 price mark soon.

    A sell-trade opportunity in silver:

    The price of silver had been moving towards the bearish region at the end of last weeks session, but after hitting the multi-day lower price of $22.07, the price of silver pulled back towards the bullish region again. At the time of market closing, the price of silver was trading around the $22.375 mark.

    The Entry Point:
    • In the 4-hour time frame, the price of silver was entirely on the bearish trend, and the momentum of the price formed a strong bearish bias which indicated a further bearish breakout. Earlier, the price of silver was hovering towards the bearish region at the beginning of the week, and the price of silver reached the 10-month lower price at the $21.98 price mark.

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    • From the technical perspective, the MACD technical indicator formed some strong bearish divergences. But the 50-Day, 100-Day, and 200-Day Simple Moving Averages indicate the price of silver is moving towards the bullish region. A weakening of the US Dollar Index may push the price of silver to trade above the $23.00 price mark. The sell entry started when the price of silver reached below the $22.00 price mark.


    The Exit Point:

    • The price reached the 10-month lower price at the $21.98 price mark, and this is marked as an initial or strong support line. The initial support line rejected the price of silver, and there was a strong recovery around the $23.10 price mark. The critical movement was seen during the FOMC session, and a further strengthening of the US Dollar Index may push the price of silver towards the 21.00 price region.

      Name: SILVERDaily.png Views: 259 Size: 50.3 KB

    • Technically, the price of silver was entirely on the bearish trend in the daily chart, but there was a recovery during the FOMC. After making the weekly higher price at $23.10, the price of silver pushed back towards the bearish region. The MACD technical indicator formed some solid bearish divergence, but the moving average indicators did not indicate a bearish breakout from silver. However, the sell entry will exit when the price of the US Dollar Index starts to weaken, and a further weakening of the US Dollar Index will pull the price of silver towards the 23.50 price region. So, I suggest a potential selling opportunity on silver for short-term traders, and the price of silver should be trading around the $21.00 price mark soon.

    Open Trades Update:
    • Yesterday, I executed some sell orders on Bitcoin, although currently, trades are floating with a loss. Meanwhile, yesterdays trades went to profit, but I did not close these Bitcoin sell orders for higher profit.

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    • Still, I am confident in my target for Bitcoin. However, I am anticipating a potential selling opportunity on Bitcoin, and I believe that traders will benefit from it soon.

    Thanks to my dear friends for staying with me.

    Approved

  3. #11053 You can automatically minimize the read posts in your account in the 'Forum Settings'
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    Hello, everyone!
    • Greetings to traders! The weekend has been being over, and the market will be open in a few hours. However, the commodity market will open after one hour of the currency market opening. However, this is the last moment to make some trading plans for the upcoming weeks. Whatever, we don't see any significant movement as usual on the first day of the week. But sometimes, there will be some impact of last week's with some market gap, and traders expect a bullish gap from the US Dollar Index. Earlier last week, the US Dollar Index was much more volatile because of the bulk of USD events. Some upbeat events of the USD currency pulled the price of the US Dollar Index towards the bullish region and reached the price of the US Dollar Index towards the multi-week higher price at 93.49.

    The bonus statistics for the last four months:
    • The weekly bonus ratio has been decreased significantly, although some members are making it tough to get higher bonuses by increasing their number of posts. According to the below bar chart, I got the highest amount of bonus of around $140 for the week-33 bonus, whereas I was getting more than $250+ in a single week, and sometimes the bonus was above $500, which I am not getting for a whole month now.

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    • However, the bonus is a gift from the InstaForex broker, and we should always be happy with any kind of gift. We are thankful to InstaForex and MT5 Forum for arranging such an opportunity for us.


    On the EUR/USD, there is a buy-trade opportunity:

    The price of the EUR/USD has been moving towards the bearish region because of the strengthening of the US Dollar Index, although the price of the EUR/USD gained towards the bullish territory at the end of last week's session.

    The Entry Point:
    • The EUR/USD currency pair remained on the down track at the end of last week's session around the 1.1720 price region. In last Friday's session, the price of the EUR/USD declined from the daily lower price and pulled back towards the bullish region. After reaching a multi-week higher price, the price of the US Dollar Index pushed back towards the bearish area. The weakening of the US Dollar Index affected EUR/USD trading, causing a drop from the daily lower price.

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    • According to some technical indicators, the EUR/USD currency pair was entirely in a bullish trend. However, the MACD technical indicator formed some strong bearish divergences in the support zone. Through the candlestick pattern, the price of the EUR/USD pair formed a solid bullish engulfing pattern in the 4-hour chart, which indicated a further bullish breakout from the EUR/USD pair. So, the buy entry started when the price of the EUR/USD was rejected from the daily low.

    The Exit Point:
    • The hawkish statement from the Fed officers increased the volatility in the USD market, and in particular, there was some strong greenback movement from the DXY. The strengthening of the DXY pushed the price of the EUR/USD currency pair to make a strong breakdown towards the bearish region. If we look at the chart of the EUR/USD currency pair in the daily time frame, the price of the EUR/USD pair formed a strong support level at the 1.1683 price mark, which should be marked as the initial support line. A further weakening of the US Dollar Index helped the price of the EUR/USD pair to make a decline from the daily low.

      Name: EURUSDDaily.png Views: 250 Size: 62.3 KB

    • From the technical perspective, the price of the EUR/USD currency pair is entirely in a bearish trend in the daily chart, and the MACD technical indicator has formed some solid bearish divergences. However, the 100-Day and 200-Day Simple Moving Average indicators point the price of the EUR/USD pair towards the bullish region. So, a further strengthening of the US Dollar Index will exit the buy entry. Overall, I am anticipating a potential buying opportunity on the EUR/USD pair for short-term traders, and the EUR/USD currency pair should be trading above the 1.1780 price level soon.


    Open Trades Update:
    • I mentioned earlier that I have some active trades on Bitcoin, and currently, those trades are floating at a loss. However, there were some sell entries on Bitcoin, whereas the price of Bitcoin made a solid bearish breakout and reached a multi-month low price below the $40,000 price mark.

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    • Those selling entries start at $43,100, and according to my analysis, the price of Bitcoin should push back towards the bearish region. So, I still suggest a potential selling opportunity on Bitcoin, and the price of Bitcoin should be trading below the $40,000 price mark again.

    Approved

  4. #11054 You can automatically minimize the read posts in your account in the 'Forum Settings'
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    Hello, everyone!
    • Greetings to traders. I hope that you are all trading well, although we have not seen any major breakouts on the first day of the market. At the end of last week, the price of the US Dollar Index was moving towards the bearish region because of some downbeat data on the USD currency. Remarkably, the momentum of the US Dollar Index was entirely in a bullish trend, and the price of the USD Index reached a multi-week higher price at the 93.49 price mark. During the last US session, the price of the USD Index started to move towards the bullish region, and as of writing, the price of the US Dollar Index is trading around the 93.44 price mark.

    Closed Trades Update:
    • For a few days, I was struggling with Bitcoin sell orders whereas, after closing sell orders, the price of Bitcoin moved back towards the bearish region. However, I closed Bitcoin sell orders with a slight loss, and after closing Bitcoin sell orders, I executed some buy orders on crude oil. Overall, I managed around $60 profit through buying crude oil.

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    • I was overconfident on Bitcoin, but I would get some profit if I closed trades earlier. However, trade management is a vital part of forex trading, and proper trade management may bring a handsome amount of profit.

    The Economic Calendar:

    The most important USD events are listed below:
    • Goods Trade Balance-the lower impact event.
    • Prelim Wholesale Inventories m/m-the lower impact event.
    • FOMC Member Evans Speaks-the lower impact event.
    • HPI m/m-the lower impact event.
    • S&P/CS Composite-20 HPI y/y-the lower impact event.
    • Fed Chair Powell Testifies-the higher impact event.
    • CB Consumer Confidence-the medium-impact event.
    • Richmond Manufacturing Index-the lowers impact event.
    • FOMC Member Bowman Speaks-the medium-impact event.
    • FOMC Member Bostic Speaks-the medium-impact event.

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    • From the above list, there are a lot of USD events today, and there are six lower impacts, three medium impacts, and a single higher impact event for the USD currency. These events will make a significant impact on USD trading.


    The Overview of the US Dollar Index:
    • Ahead of a lot of upcoming events for the USD currency, the price of the US Dollar Index has been moving towards the bullish region. Earlier, there were a couple of attempts to break the major resistance line at the 93.50 price mark, and currently, the price of the US Dollar Index is just trading below the resistance line. The greenback movement started at the beginning of the Australian session today, and the momentum of the price of the US Dollar Index indicates that it will trade above the resistance line before the US session today.

      Name: #USDXH4.png Views: 217 Size: 58.7 KB

    • Technically, the US Dollar Index price is entirely on the bullish trend in the 4-hour chart, and the MACD technical indicator formed some strong bullish divergence. The current bullish divergence indicates a further bullish breakout from the US Dollar Index. The Zigzag technical indicator formed a bullish turn, but on the other hand, the 100-Day and 200-Day Simple Moving Averages indicate the price of the US Dollar Index moving towards the bearish region. So, the US Dollar Index price depends on the upcoming events of the USD currency, and we may see massive volatility in the market today. Because of this, there is no perfect perception of the movement of the US Dollar Index today from my point of view.

    A buy-trade opportunity on the EUR/USD:
    • The Entry Point: The buy entry should be started at 1.1690. Meanwhile, there is a weekly support line at 1.1683, and the price was rejected by 1.1684 this week. If you are looking for a short-term trading plan, then you may set the take-profit at 1.1720. To see the trading opportunity in detail, please check here.
    • The Exit Point: The buy entry should be started from the major support line of 1.1683, and traders should put the stop loss at 1.1664. So, the buy entry will exit when the US Dollar Index breaks the major resistance line of 93.50, and the price of the EUR/USD pair reaches below the 1.1660 price mark. Overall, I am looking forward to a potential buying opportunity on the EUR/USD pair, and the price of the EUR/USD currency pair should be trading above the 1.1730 price mark soon.

    A buy-trade opportunity in Bitcoin:

    The price of Bitcoin has been hovering in both directions for a few days, and it seems that the price of Bitcoin is moving like a sideways movement. As of writing, the price of Bitcoin is trading around the $42,400 price mark.

    Active Trades:
    • Currently, I have some buy orders on Bitcoin, which are floating with a loss. Earlier, I closed Bitcoin sell orders with a loss, whereas I struggled with Bitcoin sell orders. But at this time, I am buying with Bitcoin, and now trades are floating with around a $2 profit.

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    • However, the price of Bitcoin should make a long bullish trend before the US session today, although I put entry from the $42,500 price mak. And the price should be trading above the $44,000 price mark at least just before the US session begins.

    The Entry Point:
    • The price of Bitcoin formed a considerable trading range between the $40,000 and $44,000 price marks, and currently, the momentum of the price of Bitcoin is entirely in a bullish trend. Earlier at the beginning of the Aussie session today, the price of Bitcoin made a bearish breakdown and reached the daily lower price at $41,900.

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    • From the technical perspective, the price of Bitcoin is a bearish trend in the 4-hour chart because the MACD technical indicator formed some strong bearish divergence in the 4-hour chart. But the 100-Day and 200-Day Simple Moving Average indicate the price of Bitcoin is above the $45,000 price mark. So, traders should start the buy entry for Bitcoin at the $42,000 price mark, and traders should put the take-profit level at the $45,000 price mark.

    The Exit Point:
    • The price of Bitcoin made a strong support line at the $39,526 price mark, and after making the support line, the price of Bitcoin pulled back towards the bullish region. We should think that there is a psychological mark of $40,000, and the price was not stable below the psychological mark of $40,000. The Relative Strength Index (RSO) indicates an oversold situation for Bitcoin, which indicates a further bullish breakout for Bitcoin.



    • Technically, the price of Bitcoin is entirely on the bullish trend in the daily chart, and the 200-Day Simple Moving Average indicates the price of Bitcoin towards the $47,000 price mark. So, the buy entry will exit when the price of Bitcoin is trading below the psychological mark of $40,000 and crosses the major resistance line of $39,526. Overall, I am looking forward to a potential buying opportunity in Bitcoin for short-term traders, and the price of Bitcoin should be trading above the $45,000 price mark soon.

    Approved

  5. 18 users say Thank You to bappy4x for this useful post.

    Adam522 (28-09-2021), BlackDollar (28-09-2021), Dwayne Johnson (28-09-2021), Ertugrul (28-09-2021), evanshad (28-09-2021), ForexRider (28-09-2021), global20 (28-09-2021), grasper (28-09-2021), HassaanAli (28-09-2021), Helsinki (28-09-2021), Honey Bee (28-09-2021), Interlock (14-10-2021), Jackroay (28-09-2021), ola4real (28-09-2021), ShantiMan (28-09-2021), Skull999 (28-09-2021), Waqas1007 (28-09-2021), zahid4x (28-09-2021)

  6. #11055 You can automatically minimize the read posts in your account in the 'Forum Settings'
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    Hello, everyone!
    Greetings to traders! I hope that you all had a successful trading session, although there were huge events yesterday. Because of upbeat data on the USD currency, the price of the US Dollar Index reached above the 10-month higher price at the 93.80 price mark. On the other hand, I have some buy orders on Bitcoin, and the price of Bitcoin pushed back towards the bearish region after putting buy orders from the entry point at the $42,511 price mark. Whatever, as of writing, the price of Bitcoin is trading around the $41,300 price mark.

    The Yearly Trading Evaluation:
    • I have arranged all data for this year, and it seems that I was more active in trading at the beginning of the year. Although the forum introduced us to the new algorithm for the bonus system, and at the beginning, I was happy with the excellent amount of bonuses.

      Name: graphoflossandprofitabletrades.PNG Views: 439 Size: 38.7 KB

    • In January 2021, I extracted 201 trades from my bonus account, and according to the above data, there were 188 loss trades and 28 profitable trades. Are you surprised after looking at the number of lost trades? Dont be surprised because I executed a number of trades to complete the InstaFurtures lot, and I closed all of these orders with a slight loss. However, there is nothing to explain more because you may understand everything from the above picture.

    The Economic Calendar: Wednesday, 29 September 2021
    • On the economic calendar, there are many events today, although there are a lot of USD events this week. Most of the USD events are related to the Fed and FOMC, and Fed Chair Powell speaks again today.

      Name: events2909.PNG Views: 201 Size: 51.1 KB

    • The most concerning event on Wednesday is that there will be an inventory report for crude oil, and the upcoming stock report for crude oil will have a significant impact on crude oil trading. From the last few weeks data, we may expect a downbeat stock report for crude oil again soon, and the price of crude oil should be trading above the $77.00 price mark soon.

    A sell-trade opportunity on gold:

    Since the beginning of the week, the price of the precious metal gold has been trending downward. There was a strong support level at the $1737 price mark, and upbeat data on the USD currency broke the initial support line of $1737. As of writing, the price of gold is trading around the $1736 price mark.

    The Entry Point:
    • In the 4-hour chart, the price of gold is entirely on the bearish trend, and the momentum of the trend was changed by the last US session towards the bearish region. Yesterday, there were some solid events for the USD currency, and upbeat data for the USD currency pulled the price of the US Dollar Index lower. The US Dollar Index has been keeping pressure on the price of gold to make a solid bearish breakout.

      Name: XAUUSDH4.png Views: 203 Size: 48.3 KB

    • From the technical perspective, the OsMA technical indicator has formed five descending bearish divergences, which indicate a further bearish trend in the upcoming session. Although the 50-Day, 100-Day, and 200-Day Simple Moving Averages indicate the price of gold is moving towards the bullish region, the sell entry started when the price of gold broke the initial support line of $1737.

    The Exit Point:
    • There is a strong resistance level at the $1760 price mark, and the strengthening of the US Dollar Index helped the price of gold to reject the major resistance line of the $1760 price mark. After an initial rejection from the resistance line, the price of gold pushed back to the support line and broke the initial support line of the $1737 price mark. So, it seems that the bearish momentum is much stronger than the bullish momentum.

      Name: XAUUSDDaily.png Views: 200 Size: 54.5 KB

    • However, the price of gold is also on the bearish trend in the daily chart, and the OsMA technical indicator formed some strong bearish divergence in the daily chart. But the Simple Moving Average indicates the price of gold is moving towards the bullish region. So, the sell entry will exit because of the weakening of the US Dollar Index, and the price of gold will change the trend towards the $1750 price region. Overall, I am looking forward to a potential selling opportunity on gold, and the price of gold should be trading above the $1710 price mark soon.

    A buy-trade opportunity in crude oil:

    The West Texas Intermediate Crude Oil price has returned to the bearish zone. However, the price of crude oil opened the market with a bullish gap at the beginning of the weekly session last Monday. With a bullish gap, the price of crude oil was trending towards the bullish region and reached an 11-week high at the $76.66 price mark. As of writing, the price of crude oil is trading around the $74.41 price mark.

    The Entry Point:
    • There is a strong and major resistance line at the $76.97 price mark, and the major resistance line rejected the price of crude oil. Earlier, the price of crude oil was entirely in a bullish trend at the beginning of the week. After reaching the 11-week higher price at $76.66, the price of crude oil pushed back towards the bearish region and made the weekly lower price around the $74.00 price mark.



    • From the technical perspective, the price of crude oil is entirely on the bullish trend in the 4-hour chart, and the MACD technical indicator formed some strong bullish divergences. On the other hand, the 100-Day 200-Day Simple Moving Average indicates the price of crude oil towards the bearish region. However, the buy entry started at the $74.20 price mark, and the price of crude oil looks more stable around the $74 price mark.

    The Exit Point:

    • Fundamentally, we have crude oil inventories to report today during the US session, and the stock report of crude oil has a significant impact on crude oil trading. However, the price of crude oil has been consolidating towards the bearish region at the beginning of the Aussie session today. Currently, the momentum of the price of crude oil is entirely in a bearish trend, but it is making a strong buying opportunity after rejecting the price region of $74.



    • However, the price of crude oil is entirely on the bullish trend in the daily chart, and the MACD technical indicator formed some strong bullish divergence in the daily chart. Earlier, the price of crude oil was rejected by the major support line of $69.51, and the price of crude oil pulled back towards the bullish region around the $76.60 price region after the rejection of the major support line. The buy entry will exit when the price of crude oil changes the momentum of the price, and there will be an upbeat stock report for crude oil. So, overall, I am looking forward to a potential buying opportunity in crude oil, and the price of crude oil should be trading above the $80.00 price mark if the price can break the major resistance line of $76.97.

    Open Trades Update:

    • Yesterday, I made a handsome amount of profit through crude oil trading, although I closed crude oil buy orders. I could get some more profits if I kept crude oil buy orders for a few hours.

      Name: trades2909.PNG Views: 195 Size: 18.8 KB

    • However, I executed some buy orders on Bitcoin after closing crude oil buy orders, and the price of Bitcoin was moving towards the bullish region. Suddenly, the momentum of the price of Bitcoin has changed towards the bearish territory, and currently, Bitcoin buy orders are floating with a considerable loss. But I am expecting a bullish breakout from Bitcoin, and I am looking forward to a potential buying opportunity in Bitcoin. The price should be trading above the $50,000 price mark again.

    Thank you very much for staying with me. Dont be hesitant to put your queries through the comment box.

    Approved

  7. #11056 You can automatically minimize the read posts in your account in the 'Forum Settings'
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    Hello, everyone!
    • Greetings to traders. The weekend has started already, and I hope that you have enjoyed last week's trading. However, I have done some excellent trading sessions on crude oil and different currency pairs, and I will share these successful trading histories in my next update. There were numerous events for the major currency pairs last week, with the USD currency bearing the brunt of the attention. The price of the US Dollar Index made a historical movement towards the bullish region, and the price of the USD Index reached above the yearly higher price just above the 94.50 price mark. Although the price of the US Dollar Index changed its traction towards the bearish region after reaching the annual higher price and as of the end of the session, the price of the US Dollar Index was trading around the 94.00 price mark.

    The Bonus Update:

    • There was a pleasant surprise by the forum authorities of the MT5 Forum that four-week bonuses had been credited by last week. Although there were fewer bonuses in my account this time, I was getting more bonuses at the beginning of the new algorithm of the bonus system. However, this is a pleasant gift from the InstaForex broker through the MT5 Forum, and we should always be happy about this.

      Name: bonusweek39.PNG Views: 311 Size: 161.2 KB

    • The above screenshot is the bonus for week-39, whereas the bonuses for week-36, week-37, and week-38 had been credited to my trading account. They have updated around $124 for week-39, and the bonus should be credited soon on my InstaForex trading account. However, we are thankful to InstaForex and the MT5 Forum for creating such an opportunity for us. Go ahead and spend a long time with InstaForex, one of the best Forex brokers in the world.

    Please, check the trading opportunity on gold here.

    The Overview of the US Dollar Index:
    • The price of the US Dollar Index has been pulling back towards the bullish region since the beginning of the week. The price of the US Dollar Index made a bullish journey from the 93.10 price mark, and the price of the US Dollar Index reached its yearly higher price at the 94.48 price mark just at the end of the week.

      Name: #USDXH4.png Views: 171 Size: 50.6 KB

    • However, the US Dollar Index price broke the psychological mark of the 94.00 price mark, but it was struggling around the 94.00 price mark. Just before the end of last week's session, the price of the US Dollar Index was trading around the 94.00 price mark.
    • In the 4-hour chart, the price of the US Dollar Index was entirely on the bullish trend, and the MACD technical indicator formed some solid bullish divergences in the 4-hour chart. However, the 50-Day and 100-Day Simple Moving Averages indicate that the US Dollar Index price is moving towards the bearish region. Whatever the US Dollar Index price broke the monthly resistance line and formed a new resistance line at the 94.48 price mark.

      Name: #USDXDaily.png Views: 166 Size: 60.2 KB

    • On the other hand, further upbeat data from USD events may push the price of the US Dollar Index to break the major resistance line at the 94.48 price mark. Overall, I am looking forward to a potential buying opportunity on the US Dollar Index. The price of the US Dollar Index should be trading above the 95.00 price mark within the following week.


    A sell-trade opportunity on the GBP/USD pair:

    The GBP/USD currency pair price was hovering in the bearish region at the beginning of last week. There were two reasons for the bearish breakdown of the GBP/USD pair. Last week, there were a lot of events for the GBP currency, and there was some downbeat data for the GBP currency which pushed the price of the GBP/USD pair to trade towards the bearish region. However, the GBP/USD pair price gained some pips towards the bullish region at the end of the week. Before the end of the session, the price of the GBP/USD was trading around the 1.3540 price mark.

    The Entry Point:
    • In the 4-hour chart, the price of the GBP/USD was entirely in the bullish trend, although the MACD technical indicator formed some solid bearish divergences in the 4-hour chart. The sentiment of the US Dollar Index was entirely in a bullish trend, and because of the strengthening of the US Dollar
      Index, the price of the GBP/USD currency pair was moving towards the bearish region.

      Name: GBPUSDH4.png Views: 163 Size: 43.7 KB

    • The strengthening of the US Dollar Index pushed the price of the GBP/USD pair to reach the 10-month lower price of the 1.3411 mark. However, the 100-Day and 200-Day Simple Moving Averages indicated the price of the GBP/USD pair was moving towards the bullish region. So, the sell entry started from the 1.3570 price mark, and the price of the GBP/USD pair should reach below the initial support line of 1.3411.

    The Exit Point:
    • At the end of the week, sterling kept trying to gain some pips, and the price reached the 1.3574 price mark because of the US Dollar Index, whereas the price of the US Dollar Index dropped to 94.00 at the end of the week. However, the price of the GBP/USD pair was entirely on the bearish trend in the daily chart, and the MACD technical indicator formed some solid bearish divergences in the daily chart. Divergences indicated a further bearish breakdown of the GBP/USD currency pair, although the 100-Day and 200-Day Simple Moving Averages indicate the price of the GBP/USD pair towards the resistance area.



    • However, the sell entry will exit when the price of the US Dollar Index makes a bearish breakdown, and the GBP/USD pair will reach above the 1.3590 price mark. So, overall, I am looking forward to a potential selling opportunity on the GBP/USD pair, and the price of the GBP/USD pair should be trading below the 1.3350 price mark by next week.

    The trading opportunity on crude oil here.

    Open Trades Update:
    • I mentioned earlier that I enjoy trading cryptocurrency on the weekends, and I have recently resumed trading in Bitcoin. The price of Bitcoin has been moving towards the bullish region for the last few days, and the price of Bitcoin reached a multi-week higher price at the $48,400 price mark.
    • Trading Instrument: Bitcoin.
    • Instrument Type: Cryptocurrency.
    • Order: Sell.
    • Number of Trades: 03.
    • Lot Size: 0.15 (InstaForex Lot).
    • Entry Point: $47,880.
    • Take Profit: $46,582.
    • Stop loss: $48,883.
    • Closed at: Not yet.
    • Profit: Not Yet.
    • Trading Term: Short-term.
    • Status: Trades are floating at around a $10 loss.

      Name: trades02102021.PNG Views: 273 Size: 9.6 KB

    • However, I executed some buy orders on Bitcoin, and currently, my trades are floating with a bit of profit. As the momentum of the price of Bitcoin is entirely in a bullish trend, the price of Bitcoin should test some higher prices. Overall, I am looking forward to a potential buying opportunity in Bitcoin, and the price of Bitcoin should be trading above the $50,000 price mark soon.

    Approved

  8. #11057 You can automatically minimize the read posts in your account in the 'Forum Settings'
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    Default A sell trade opportunity on Bitcoin:

    Hello, everyone!

    Greetings to traders! The weekend is going on and today is the last of the weekend. However, I like to trade on Bitcoin during the weekend, and I executed some sell orders on Bitcoin yesterday. Currently, Bitcoin sell orders are floating with a profit, although the price of Bitcoin pulled back towards the bullish region yesterday. As of writing, the price of Bitcoin is trading around the $47,500 price mark.

    Closed Trades Update:

    Last week, there were some excellent trading sessions, and I executed some buy orders for crude oil and Bitcoin. After testing some lower prices, the price of Bitcoin was hovering towards the bearish region by rejecting the major support line. However, Bitcoin buy orders were closed manually, and I managed to make a handsome amount of profit with a short-term trading plan.

    Name: closedtrades03102021.PNG Views: 844 Size: 33.9 KB

    On the other hand, because of the downbeat stock report of crude oil by the EIA, the price of crude oil was moving towards the bullish region. So, I took the opportunity and initially executed some buy orders for crude oil. Though I was going for a short-term trading plan, I set the take-profit levels, and the price of crude oil hit the take-profit levels.

    A sell trade opportunity on Bitcoin:

    The price of Bitcoin has been hovering like a sideways movement since the beginning of the weekend. The price formed a trading range below the $49,000 price mark. We understand that there is a psychological mark at the $50,000 price mark, and the momentum of the price of Bitcoin is not to break the psychological mark of $50,000.

    Active Trades:


    I mentioned earlier that I have some sell orders on Bitcoin, and Bitcoin sell orders are floating around $25 profit. However, I can close these sell orders with a handsome number of profits.

    Name: activetrades03102021.PNG Views: 146 Size: 9.8 KB

    The Entry Point:


    On the 4-hour chart, the price of Bitcoin is entirely in a bearish trend, but the MACD technical indicator has formed some strong bullish divergence in the 4-hour chart. On the other hand, the 100-Day and 200-Day Simple Moving Averages indicate the price of Bitcoin moving towards the bearish region. Last month, we saw a massive breakdown in Bitcoin, and at the end of the month, the price of Bitcoin reached a multi-month low around the $39,000 mark. However, there was a strong recovery towards the bullish region, and the price of Bitcoin is looking more stable above the $45,000 price mark. So, the perfect sell entry has started at the $48,000 price mark.

    Name: #BitcoinH4.png Views: 151 Size: 73.7 KB

    The Exit Point:

    In the daily chart, the price of Bitcoin formed a bearish engulfing pattern, but overall the price of Bitcoin is entirely on the bullish trend in the daily chart. Although the MACD technical indicator formed some strong bullish divergence in the daily time frame, the price of Bitcoin hit an obstacle around the $48,000 price mark, and there is a strong resistance level at the $48,755 price mark. The price of Bitcoin should not break the major resistance line early, and the sell entry will exit when the price of Bitcoin breaks the major resistance line at the $48,755 price mark. So, overall, I am looking forward to a potential selling opportunity on Bitcoin, and the price of Bitcoin should be trading below the $45,000 price mark soon.

    Name: #BitcoinDaily.png Views: 149 Size: 59.1 KB

    Approved

  9. #11058 You can automatically minimize the read posts in your account in the 'Forum Settings'
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    Hello, everyone!

    Welcome to "Bappy4x's Trading Journal". It has been a long time that I have not updated my journal because of my tight schedule. However, I am back again, but I counted it as a loss after getting the bonus last week. I executed sell orders from the white metal silver, and the price of silver pushed back towards the bullish region. However, the price of silver has been moving like a sideways movement for a few days. Yesterday, the price of silver reached a multi-week high at the $22.80 price mark. As of writing, the price of silver is trading around the $22.45 price mark.

    Closed Trades Update:

    I mentioned earlier that I executed some sell orders at the beginning of the week, and I counted a loss. However, I have to manage the loss because it is part of the Forex business. Now I have to make some good trading plans on crude oil, but I can see a substantial selling opportunity.

    Name: closedtrades08102021.PNG Views: 110 Size: 19.5 KB


    The Economic Calendar:

    On the economic calendar, we have a bug of events for USD and CAD currency. The authority will publish the US NFP data today, and the NFP will significantly impact the USD trade. On the other hand, the desired authorities will publish Canadian employment changes and the unemployment rate during the US session today.

    Name: news08102021.PNG Views: 111 Size: 70.9 KB

    Significant events are listed below:
    • Changes in Canadian Employment.
    • Unemployment in Canada
    • Earnings Per Hour in the United States
    • Changes in Non-Farm Employment in the United States.
    • The US Unemployment Rate.


    The Overview of the US Dollar Index:


    The US Dollar Index was consolidating for the weekly gain, although the price of the US Dollar Index did not break last week's higher price. Earlier, the price of the US Dollar Index reached a multi-month high last week at 94.47. However, after reaching a multi-month high, the US Dollar Index has been struggling around the 94.20 level.

    Name: #USDXH4.png Views: 107 Size: 50.7 KB

    From the technical perspective, the price of the US Dollar Index is entirely on the bullish trend, and the MACD technical indicator formed some strong bullish divergence in the 4-hour chart. The 50-Day and 100-Day Simple Moving Averages indicate the price of the US Dollar Index towards the bearish region. Fundamentally, today we have some important events for the USD currency, and these events will have a higher impact on the USD trade. So, overall, I am looking forward to a potential buying opportunity in the US Dollar Index.

    A buy-trade opportunity in crude oil:


    The price of crude oil has been hovering towards the bullish region after making a sudden drop around the $75.00 price mark. Earlier, the price of crude oil reached a 7-year high at the $79.80 price mark. After reaching a multi-year high, the price of crude oil was eager to return to the bearish zone. Within overnight trading, the price made some excellent recovery towards the bearish region. As of writing, the price of crude oil is trading around the $79.40 price mark.

    Active Trades:

    I executed some buy orders on crude oil, and trades are floating with a loss. At this time, I am going through the short-term trading plan, and I will close these buy orders within this week's session.

    Name: activetrades08102021.PNG Views: 104 Size: 12.3 KB

    The Entry Point:


    In the 4-hour chart, the price of crude oil is entirely on the bullish trend, and the MACD technical indicator formed some strong bullish divergences. Although earlier, the price of crude oil was rejected by a Doji candlestick pattern. The buy entry started from the bottom line around the $75.00 price mark.



    The Exit Point:

    From the technical perspective, the price of crude oil is entirely in a bullish trend, but the 100-Day and 200-Day Simple Moving Average indicate the price of crude oil is moving towards the bearish region. However, the MACD technical indicator formed some solid bullish divergence. Earlier, the price of crude oil reached a 7-year high price at the 79.80 price mark, and there is an initial resistance line at the $79.80 price mark. It will extend the buy entry if the price of crude oil breaks the initial resistance line at the $79.80 price mark. On the other hand, a bearish breakout below $77.50 will indicate the exit point of the buy entry. However, I am looking forward to a potential buying opportunity in crude oil, and the price of crude oil should be trading above the $80.00 price mark soon.



    Open Trades Update:

    I mentioned earlier that I had bought orders on crude oil, and I also executed more trades on the precious metal gold. There are 0.20 lot of buy orders on gold, while the price of gold has been moving sideways since the USD event yesterday. The upcoming NFP will have a massive impact on gold trading, and I hope the price of gold will first make a solid bullish breakout, and then it will move according to the upcoming NFP news. So, I have a plan to close all of these open orders before the US session today. So, I am looking forward to a potential buying opportunity for gold, and the price of gold should be trading around the $1770 price mark soon.

    Name: opentrades08102021.PNG Views: 111 Size: 20.1 KB

    Approved

  10. #11059 You can automatically minimize the read posts in your account in the 'Forum Settings'
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    Hello, everyone!
    • Greetings to traders. I hope that you are all trading well. Although for the last few days, I have not been available on the forum because of my tight schedule. From today, I will try to keep myself alive again on this forum. However, we have seen massive movements during these few days. The downbeat NFP data was released last week, although we did not see any long-term impact on the USD trading, whereas the US Dollar Index had been strengthening at the beginning of the week. The upbeat data about the USD currency pulled the 13-month higher price of the US Dollar Index, and the price of the US Dollar Index has already broken the yearly resistance line. As of writing, the price of the US Dollar Index is trading around the 94.33 price mark.

    The Bonus Update:
    • This is really amazing that the forum has paid all pending bonuses, and even they have paid the current week bonus for week-41. Although I understand the week-41 bonus is not a real bonus for week-41 because they missed a couple of weeks' bonus before. I think in this way, they can run the forum better. Before, there was a question about the ability of the authority team. Now I understand they are a strong team, and only because of spammers, they make some plans to pay a bonus with some delay.

      Name: bonusweek4041.PNG Views: 81 Size: 7.2 KB

    • Whatever, the bonus for week-40 and week-41 has been credited to our InstaForex live trading account on the first day of the week. All credit goes to the authority of the forum. Thank you very much to the MT5 Forum and its sponsor InstaForex. Go ahead to the MT5 forum and live long and prosper with InstaForex.

    The Economic Calendar:

    • In the economic calendar, we have some important news about the USD currency, and this news may have a significant impact on USD trading. The desired authority will publish the Consumer Price Index and Price Index Core data for September 2021 today, and USD traders expect a volatile market during the US session today.
    • Name: news1310.PNG Views: 75 Size: 49.5 KB


    The Overview of the US Dollar Index:
    • The price of the US Dollar Index reached a new weekly high at 94.53, which is the 13-month higher price of the US Dollar Index. The price of the US Dollar Index has indeed moved with a higher bullish trend, and the price broke all previous weekly and monthly resistance lines. Currently, the price of the US Dollar Index has been hovering above the yearly resistance line. The greenback movement started at the beginning of the week. Although there was insufficient data last week, there was a strong recovery towards the bullish region after a sudden drop. Last week's NFP data was negative, but the negative NFP had no significant impact on USD trading. The bullish recovery trend started at the end of last week, and earlier in the Australian session last Monday, the price of the US Dollar Index showed a strong bullish trend.

      Name: #USDXH4.png Views: 73 Size: 49.3 KB

    • From the technical perspective, the price of the US Dollar Index is entirely on the bullish trend, and the momentum of the price indicates a further bullish breakout during the US session today. In the 4-hour chart, the price of the US Dollar Index made some substantial trading range towards the bullish region, and the MACD technical indicator formed some strong bullish divergences in the 4-hour chart. On the other hand, the 50-Day and 100-Day Simple Moving Averages indicate the price of the US Dollar Index below the 94.00 price mark. Fundamentally, there are some important USD events today, and the data from the Consumer Price Index for September 2021 will have a massive impact on USD trading. However, now I am looking forward to a potential buying opportunity on the US Dollar Index, and the price of the US Dollar Index should be trading above the 95.00 price mark soon.

    A sell-trade opportunity on the GBP/USD:


    The price of the GBP/USD has been hovering towards the bullish region after making the daily low at 1.3575 during the Asian session today. Earlier, at the beginning of the Australian session today, the price of the US Dollar Index had been moving towards the bearish region, and it had impacted the GBP/USD trading. However, as of writing, the price of the GBP/USD currency pair is trading around the 1.3614 price mark.

    Active Trades:
    • I found a strong selling opportunity on the GBP/USD pair with a short-term trading plan, and I executed some sell orders on the GBP/USD currency pair. Currently, trades are floating with a loss, and within the US session today, I can close these sell orders with a handsome amount of profit.

      Name: activetrades131021.PNG Views: 76 Size: 17.0 KB

    • However, I set the "take-profit" and "stop-loss" levels at just 20 pips, which will keep me safe from a higher loss. A further strengthening of the US Dollar Index will push the price of the GBP/USD pair towards the bearish region, and it will hit the "take-profit" levels.

    The Entry Point:

    • The price of the GBP/USD currency pair has been consolidating towards the bullish region at the beginning of the Asian session today. The bank of England stated a hawkish turn which has been strengthening the GBP currency. However, fundamentally, the US Dollar Index has been impacting GBP/USD trading, whereas we have some important news on the USD currency today. There is a strong resistance level at the 1.3672 price mark, but before that, there is a psychological mark at the 1.3650 prices, and the price should not break easily.



    • From some technical perspectives, the price of the GBP/USD currency pair is entirely in a bullish trend. The 100-Day and 200-Day Simple Moving Averages indicate the GBP/USD pair's price is above the 1.3800 price mark. On the other hand, the MACD technical indicator has formed some solid bearish divergences in the 4-hour chart, indicating a further bearish breakout during today's US session. However, the sell entry started from the 1.3615 price mark, and traders should make a short-term trading plan with a proper entry-level according to the divergences of the current trend.

    The Exit Point:
    • In the daily chart, the price of the GBP/USD currency pair changed the momentum of the price towards the bullish region. The price has formed a symmetrical triangle formation in the daily chart, and there is a strong barrier at the 1.3650 price mark. Fundamentally, the GBP currency has some significant events today, and the cable is still eyeing the critical UK and US macro data today.



    • From the technical perspective, the price of the GBP/USD pair is entirely in a bearish trend on the daily chart. The MACD technical indicator formed some strong bearish divergences on the daily chart. On the other hand, the 100-Day and 200-Day Simple Moving Averages indicate the price of the GBP/USD currency pair towards the bullish region. However, a further weakening of the US Dollar Index will be the reason for exiting the sell entry from the GBP/USD pair. In particular, the sell entry will exit when the price of the GBP/USD currency pair breaks the barrier of the 1.3650 price mark. Overall, I am looking forward to a potential selling opportunity on the GBP/USD pair, and the price of the GBP/USD currency pair should be trading around the 1.3550 price mark soon.

    Closed Trades Update:
    • Last week, I executed some trades on Bitcoin and crude oil. Crude Oil buy orders hit the "take-profit" levels with handsome profits. On the other hand, Bitcoin sell orders hit the 'stop-loss' levels.

      Name: trades13102021.PNG Views: 147 Size: 21.1 KB

    • However, I am happy with my trading performance on Bitcoin and crude oil, although I could keep trades for a long time so that I can get a handsome amount of profit from crude oil. But Bitcoin sell orders may bring a higher loss because the price of Bitcoin has made a solid bullish breakout, and the price of Bitcoin has been hovering towards the all-time high price of Bitcoin.

    That's all from the center, and if you have any questions or suggestions, you may ask me through the comment box. Have a good trading day.

    Approved

  11. 17 users say Thank You to bappy4x for this useful post.

    Adam522 (13-10-2021), amiron56 (13-10-2021), ayan555 (13-10-2021), Felix4x (13-10-2021), Forex Mate 07 (13-10-2021), Forex Prediction (13-10-2021), global20 (13-10-2021), heart of stone (13-10-2021), Heartbroken (13-10-2021), Honey Bee (13-10-2021), Huggy-Buggy (13-10-2021), Interlock (14-10-2021), Jackroay (14-10-2021), Ranger (13-10-2021), ShantiMan (13-10-2021), TeraBaapAaya (13-10-2021), tradingforex (16-10-2021)

  12. #11060 You can automatically minimize the read posts in your account in the 'Forum Settings'
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    Hello, everyone!
    • Greetings to traders. Welcome to "Bappy4x's Trading Journal," and I hope that you all are trading well, whereas there has been a massive breakdown towards the bearish region from the US Dollar Index during the US session yesterday. However, there were some significant events in the USD currency yesterday, and CPI data came out according to the last data released. The US Dollar Index has been hovering towards the bearish region around the 93.70 price mark, and as of writing, the price of the US Dollar Index is trading around the 93.73 price mark.

    Closed Trades Update:

    • Yesterday, I executed some sell orders on the GBP/USD currency pair, and to avoid the unwanted losses, I set "stop-loss" and "take-profit" levels. Unfortunately, GBP/USD sell orders hit the "stop-loss" levels, and this time, I counted some losses through currency trading. Although I could set the "stop-loss" levels with some more pips, I could get the "take-profit" levels. However, my luck did not favor me, and we should understand that loss is a part of Forex trading, and I want to take this loss as another helpful lesson in my Forex career.

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    • Meanwhile, the GBP/USD currency pair price reached the 1.3575 price mark after hitting the "stop-loss" levels, whereas my "take-profit" levels were at 1.3593. Since then, the GBP/USD currency pair price has been hovering in the bullish region because of the weakening of the US Dollar Index. Because of the fear of COVID-19, US people are leaving their jobs, which has impacted USD trading. Although yesterday's CPI data was positive, the current situation in COvid-19 had an impact on the USD Index. On the other hand, the GBP currency has been strengthening at the beginning of the London session today. However, I anticipate a potential buying opportunity in the GBP/USD pair, which is expected to trade above the 1.3900 price level soon
    .

    The Overview of the US Dollar Index:
    • The slowdown in US job growth impacted the US Dollar Index, and the downbeat movement started during the US session yesterday. Earlier, the US Dollar Index price reached a 13-month higher price at the 94.53 mark, and after reaching the 13-month higher price, the price of the US Dollar Index pushed back towards the bearish region because of the slowdown in US job growth. Fundamentally, the US Dollar Index has been weakening because of the fear of the Covid-19 situation. US job holders are leaving jobs to be safe from COVID-19. The social awareness program about the Covid-19 situation may force them not to leave their jobs.

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    • From the technical perspective, the price of the US Dollar Index is entirely in a bearish trend, and the MACD technical indicator has formed some solid bearish divergence on the 4-hour chart. In particular, the price of the US Dollar Index changed its momentum throughout the overnight trading, and the current momentum of the price is entirely in a bearish trend. The price has already broken the major support line, and the current price of the US Dollar Index is trading below the 50-Day and 100-Day Simple Moving Averages. Overall, I am looking forward to a potential selling opportunity on the US Dollar Index, and the price of the US Dollar Index should be trading below the 93.00 price mark soon. So, traders should time their entries according to the momentum of the US Dollar Index.

    The Economic Calendar:
    • We have some medium-impact news for the USD currency on the economic calendar, which may impact USD trading.


      Today's USD events are listed below:

    • PPI
    • PPI Core.
    • Unemployment Claims
    • FOMC Member Bostic Speaks!
    • Natural Gas Storage
    • Crude Oil Inventories
    • FOMC Member Barkin speaks.

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    • The PPI event has the highest impact on the USD currency from the above list, and upbeat data from the PPI will make some changes in the USD trading. The crude oil stock report will be released during the US session today, and crude oil traders should be concerned that a significant change in crude oil stock may impact crude oil trading. As usual, I expect a downbeat stock report of crude oil which will push the price of crude oil towards the $85.00 price region.

    A buy-trade opportunity in silver:

    The price of silver has been hovering towards the bullish region at the beginning of the session today, although the greenback movement started during the US session yesterday. The price of silver accelerated the momentum towards the bullish region because of the weakening of the US Dollar Index. As of writing, the price of silver is trading around the $23.33 price mark.

    Active Trades:
    • Currently, I have some buy orders for the white metal silver. I executed some orders on the GBP/USD currency pair yesterday, and trades hit the "stop-loss" levels. However, I executed some buy orders on crude oil after suffering some losses on the GBP/USD pair and finally recovered the previous loss through crude oil trading.

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    • However, after closing crude oil orders manually, I executed some buy orders on silver. Now the price of silver has been hovering towards the bullish region, and trades are floating with a small profit. In this session, I am not going to set "take-profit" or "stop-loss" levels because I am looking forward to potential buying opportunities on silver with a short-term trading plan only.

    The Entry Point:

    • There was a psychological barrier at the $23.00 price mark, and the barrier has been broken because of the massive weakening of the US Dollar Index. Earlier, at the beginning of the Aussie session today, the price of silver attracted a substantial buying opportunity, and the price has pulled above the weekly resistance line. Indeed, there was a sustain to reach below the $22.00 price mark because of the upbeat CPI data.

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    • In the 4-hour chart, the price of silver is entirely on the bullish trend, and the MACD technical indicator formed eight consecutive bullish divergences in the 4-hour chart. So, the momentum of the price of silver is entirely in the bullish trend, and the current solo directional trend indicates further dip-buying opportunities in silver. On the other hand, the 50-Day and 100-Day Simple Moving Averages indicate the price of silver moving towards the bearish region. There was a strong resistance level at the $23.15 price mark, and the perfect buy entry started when the price of silver crossed the $23.15 price mark. So, the buy entry should start from the $23.10 price mark, and traders should be more concerned about the momentum of the US Dollar Index.

    The Exit Point:
    • After reaching $23.20 yesterday, the price of silver pushed back towards the bearish region and reached the daily lower price at the $22.85 price mark. Still, the price of the US Dollar Index has been weakening, and the price of the USD Index is expected to reach below the 93.00 price mark, which may keep pressure on silver trading. There are two consecutive bullish trends in the daily time frame, and the price indicates that there will be more bullish trends during the US session today.



    • However, the price of silver is entirely in the bullish trend in the daily time frame, but the MACD technical indicator has not formed any bullish divergence yet in the daily chart. On the other hand, the 100-Day and 50-Day Simple Moving Averages indicate the price of silver will move towards the 24.50 price region within the next couple of weeks. A further strengthening of the US Dollar Index will be the reason for the buy exit point of silver trading, and any break below $22.70 will be the exit point of this buying opportunity in silver. So, overall, I am looking forward to a potential buying opportunity in silver, and the price of silver should be trading above the $24.50 price mark soon.

    Thanks for staying with me, and if you have any questions, don't hesitate to ask me through the comment box. Have a good trading session.

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