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Thread: The End‎'s - Trading journal

  1. #2161 You can automatically minimize the read posts in your account in the 'Forum Settings'
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    Hello

    Update of my running positions:

    Yesterday was a disturbing day in this trading week. I believe that the ranging trend, low volatility, and running in circles around the same point are the silent killers of the forex trader. Anyway, I still have running positions on the USD/CAD, and I have decided to buy GBP/JPY.



    GBP/JPY

    Yesterday, There were two high-volume bars on the 4H chart. One of them represents a bearish candle, while the other one represents a bullish candle. Although the bullish candle is bigger than the bearish one, both of them have high-volume bars that are equal in height. This could be a good sign of continuing the bullish trend on this pair, but the price should never go below the support level of 154.10 to keep the probability of the bullish move. I believe that the bullish candle engulfed the bearish one. This is why I neglected the high-volume bar of that bearish candle, and I am considering the other bar as a standard for the next move of the price.



    The price runs around the moving average level. There is a bearish trend line that will decide on the direction of the trend. Breaking through this bearish trend line means the end of the bearish trend and the start of a new bullish one, while failing to break through this trend line means the continuation of the bearish move that will continue till breaking through the resistance level of 156



    So, I have bought GBP/JPY from 155.03

    My SL is 154.08

    My first TP is 156

    My second TP is free.



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  3. #2162 You can automatically minimize the read posts in your account in the 'Forum Settings'
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    Hello

    Update of my running positions:

    Although the previous trading week was bad for many traders, It ran well for me. These are the results of my trading week. I come out with a positive result. It's always a good thing to finish your trading week without losses. Now, I have decided to buy the GBP/CHF once the market opens.



    GBP/CHF

    One of the highest volume bars on the chart took place on 10/06/2021 at 12:00. This high-volume bar represents a bullish candle, which some other currency pairs witnessed the formation of a similar candle on their charts. I believe that this high-volume bar and this strong bullish candle may be the start of a new bullish trend. At first, the price should break through the resistance level of 1.2716. It should settle completely above this level with a bullish 4H candle. This will open the gate for the following resistance at 1.2797.



    The price runs above the moving average level. It has retraced from the support level of 1.2610. The RSI indicator seems to prepare itself for an upward push. I believe there will be an attempt to go below the moving average level again. If the price fails to settle below this level, It will be a great sign that it will reverse up in a significant bullish trend that will break through the resistance level of 1.2716, then the following target is the resistance level of 1.2797.



    So, I will buy GBP/CHF once the market opens

    My SL is 1.2605

    My first TP is 1.2716

    My second TP is free.



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  5. #2163 You can automatically minimize the read posts in your account in the 'Forum Settings'
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    Hello

    Update of my running positions:

    The new trading week has just started. As I said, I have running positions from the previous week. The most important in these positions is the USD/CAD position. I have decided to add a new position from one of the CAD pairs. I have bought EUR/CAD



    EUR/CAD

    On the 4H chart, there is a high-volume bar formed on 28/05/2021 at 16:00. There was a strong bearish candle represented by one of the highest volume bars in the chart on 19/05/2021 at 16:00, but the price has reacted to this candle with its high volume bar through a strong bearish trend that extended to the support level of 1.4666. I believe that in response to the other high-volume bar that represents the bullish candle, the price should go in a bullish trend that should target the resistance level of 1.4823, but an ultra-high volume bar should take place very soon to confirm the bullish trend.



    The price is running close to the moving average level, with the RSI indicator above the level of 30. Although it has broken through the bullish trend line, I believe it has not broken through it completely, and it's just a matter of time till the price returns above this bullish trend line. It will continue to reach the resistance level of 1.4823. Breaking through this resistance level will be the key to the following resistance of 1.5048



    So, I have bought EUR/CAD from 1.4741

    My SL is 1.4660

    My first TP is 1.4823

    My second TP is free.



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  7. #2164 You can automatically minimize the read posts in your account in the 'Forum Settings'
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    Hello

    Update of my running positions:

    Yesterday was calm. I see there weren't any aggressive or strong moves, no news, and the market itself seems to lack the necessary volatility for long-term trends. I have a running position on USD/CAD, and I have decided to sell AUD/CAD



    AUD/CAD

    The highest volume bar on the 4H chart is the bar of 10/06/2021 at 16:00. This bar represents a candle that has a bullish body with a long bearish tail. Although this candle has a bullish body and came with a general bullish trend, the bullish move that took place after bouncing from the support level of 0.9257 has no significant volume. This is why I believe that the bar of 10/06/2021 is judging the market. I expect there will be more bearish moves, and the price will continue dropping till it breaks through the support level of 0.9336, and the way will be open for the price to reach the following support at 0.9257



    The price runs below the moving average level, and the RSI indicator in the middle of the way between the levels of 30 and 70. I expect that the more the price still below the moving average level with the bearish trend line, the stronger the expectations of the bearish move that will extend to the support level of 0.9336. I believe that breaking through this support level will open the way to areas like 0.9257 and even more.



    So, I have sold AUD/CAD from 0.9362

    My SL is 0.9410

    My first TP is 0.9290

    My second TP is free.



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  8. #2165 You can automatically minimize the read posts in your account in the 'Forum Settings'
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    Hello

    At the moment, I don't have any running positions. I have just returned to trading and analysis. I wish I continue helping by providing accurate analysis for you like how I used to do in the previous periods of time. I have decided to buy USD/JPY once the market opens.

    USD/JPY

    On the 4H chart, The highest volume bar is the bar that formed on 08/07/2021 at 8:00, but I will neglect this high volume bar representing that bearish candle. I have considered it as a bar that came at the end of a strong bearish trend, so it's not an indicator of more bearish stress by the price. I have considered the other high-volume bar of 13/07/2021 at 12:00. It's a bar that represents a solid bullish candle. I expect that breaking through the resistance level of 110.70 will be the confirmation of the bullish move that will extend to 111.11 as a first target, then to the following resistance level at 111.66



    The price has settled above the moving average level after it has retraced from the support level of 109.54. I see the RSI indicator has retraced from the level of 30. I think breaking through the resistance level of 110.70 should happen as soon as possible to confirm the bullish move, especially after the strength of the dollar against most of the other currencies in the market. All of us witnessed the fall of AUD/USD, EUR/USD, and the strong bullish move of the USD/CAD. These moves indicate how strong is the Dollar. This is why I believe the USD/JPY will go in a bullish move.



    So, I have decided to buy USD/JPY once the market opens.

    My SL is 109.50

    My first TP is 110.70

    My second TP is free.

    Approved

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  10. #2166 You can automatically minimize the read posts in your account in the 'Forum Settings'
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    Hello

    The new trading week has just started. I have bought the USD/JPY, as I promised yesterday. I have decided to sell the NZD/USD. I am holding the idea of the strength of the dollar against most of the other currencies in the market



    NZD/USD

    One of the main reasons why I have decided to sell the NZD/USD is the presence of the highest volume bars on the 4H chart, the bars of 05/07/2021 at 20:00 and 06/07/2021 at 16:00 that represent strong bearish candles. The general trend is bearish, so I expect the market will respond for some more time to these high-volume bars, and the price should continue falling till reaching the support level of 0.6912 in an attempt to break through it. The starting point of this scenario will be breaking through the point of 0.6959. It's the key point to the mentioned support level.



    The price runs below the moving average level. It has failed to break through the resistance level of 0.7041. That's a good sign of the continuation of the bearish trend. Although the RSI indicator gives no clear sign, I feel a strong bearish power is coming to drive the price to the support area of 0.6912. Breaking through this support level means the continuation of the bearish move, which will open the way for the price to the following support at 0.6850



    So, I have sold NZD/USD from 0.6994.

    My SL is 0.7045

    My first TP is 0.6912

    My second TP is free.



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  11. #2167 You can automatically minimize the read posts in your account in the 'Forum Settings'
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    Hello

    Update of my running positions:

    My USD/JPY position has gone to the SL point. I have lost this position, but my position on the NZD/USD is running in profits. I will close at least one of the two running positions. I have decided now to sell the GBP/NZD.



    GBP/NZD

    The recent high-volume bar on the 4H chart is a bar that represents a bearish candle. I expect the market will react for some more time to this bearish power represented by this bar and the other high-volume bars of other solid bearish candles. If the price remains below the level of 1.9835, it means there is a high probability of the continuation of the bearish trend, supported by the news that brings a negative impact regarding the British Pound. The first confirmation of the continuation of the bearish move will be breaking through the support level of 1.9621. The main target is the support level of 1.9525.



    There is a bearish trend line that the price is following. I see a continuous resistance by the moving average that holds the price tightly below it. The RSI indicator has failed to show a move in the favor of the bullish move or the level of 70. For all the previous reasons, in addition to the bad impact news regarding the British Pound, I have decided to sell this pair. I consider the support level of 1.9525 as the major target of this bearish wave.



    So, I have sold GBP/NZD from 1.9690.

    My SL is 1.9840

    My first TP is 1.9620

    My second TP is free.



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  13. #2168 You can automatically minimize the read posts in your account in the 'Forum Settings'
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    Hello

    Update of my running positions:

    I have closed most of my running positions. I am still holding the GBP/NZD positions. They are running around the entry point at the moment. I have decided to sell USD/CAD



    USD/CAD

    Many high-volume bars represent bullish candles, but the market has been in a bullish trend for enough time. This is why I will not consider any high-volume bar representing a bullish candle. I am considering them as continuation bars, or bars that are formed at the end of a bullish trend, so I will not give them so much attention. The price bounced from the resistance level of 1.2804, a bearish candle formed, and it's represented by a high-volume bar on 20/07/2021 at 16:00. I consider this is the start of a bearish move that would target the support level of 1.2589 as a major or a primary target.



    The RSI indicator shows overbought behavior. The price has dropped below the moving average level after bouncing from the resistance level of 1.2804. There is a bullish trend line that's close to the price. I expect that combining all of these signs with breaking through the bullish trend line is a confirmation of the bearish move. The primary target, as I mentioned above, is breaking through the support level of 1.2589. The following target will be reaching the support level of 1.2426



    So, I have sold USD /CAD from 1.2680.

    My SL is 1.2806

    My first TP is 1.2589

    My second TP is free.



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  15. #2169 You can automatically minimize the read posts in your account in the 'Forum Settings'
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    Hello

    Update of my running positions:

    These are my running positions. The GBP/NZD runs in floating loss, while the USD/CAD runs in floating profits, with one position reached the TP point. I may consider the current profit and close all of my positions, and continue only with AUD/NZD that I have decided to sell



    AUD/NZD

    The highest volume bars on the chart formed on 19/07/2021 at 16:00 and 20/07/2021 at 16:00. These bars represent bearish candles, so with the lack of other high-volume bars that represent bullish candles. The power is still for the bearish move. I expect if the price has failed to break through the resistance level of 1.0608 completely and settles above it, it 's the ultimate sign of the bearish trend continuation. The first target of the bearish move will be the support level of 1.0538, with a very high probability of breaking through it and settling below the point of 1.05000



    The price has crossed the moving average level, in addition to breaking through the bearish trend line. I will not consider these signs unless the price breaks through the resistance level of 1.0608. This is the only sign that ensures the end of the bearish move and the start of a new bullish trend. The RSI indicator shows a bullish behavior, but is still in the middle of the way between the levels of 30 and 70, so this behavior can be reversed.



    So, I have sold AUD/NZD from 1.0591

    My SL is 1.0625

    My first TP is 1.0538

    My second TP is free.



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  17. #2170 You can automatically minimize the read posts in your account in the 'Forum Settings'
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    Hello

    Update of my running positions:

    My running positions have a positive float at the moment. I have decided to add a new position today, and because I don't like to have so many running positions on my chart, I think about closing most of those running positions. I have decided to sell NZD/CAD



    NZD/CAD

    High-volume bars are representing bearish candles on the 4H chart, but the price has not reacted to them till the moment. Although other high-volume bars represent bullish candles, the price has reacted to them, as we can see the consistent bullish trend that came to an end once it has reached the resistance level of 0.8910. The confirmation of this expectation will be breaking through the support level of 0.8729, but the high impact for the high-volume bars I have mentioned will take place once the price reaches the support level of 0.8663 and manages to settle below it.



    There is a bullish trend line that's close to the price. Although the price is running above the moving average level, it is still close to it, so breaking through this bullish trend line will be followed by breaking through the support level of 0.8730 and reaching the following support at 0.8663 will be a matter of time no more. The RSI indicator is in the middle of the way between the level of 30 and 70, so we are in an area of decision at the moment.



    So, I have sold NZD/CAD from 0.8771.

    My SL is 0.8920

    My first TP is 0.8663

    My second TP is free.



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