amiron56's - Trading journal

[amiron56]

JOURNAL UPDATE ____23/02/2021

Everyone, take my warm love and greetings. Today is Tuesday. Last we get our weekly bonus on this day. I hope today again we will get a bonus. We will know in a few hours whether our bonus will be updated or not. I think forum authority very helpful to all members of this forum, They have already realized our wanting and may quite ready to update our profile. This is a good week because the market looking very modest. Gold now happy overcoming from the negative pressure, gbp does not lose any place against the US dollar, New Zealand dollar is trading above last week resistance, eurusd about to get success to establish his bullish trend crashing its strong resistance 1.2170. Energy pair oil now changes its phase by making an uptrend pattern. So this is a beautiful condition to trade the market.




My Closed Trades:
It is a great pleasure to share here that no trade closed with the loss yesterday and today. Basically, I tried to read the forex market with the help of technical tools, particularly candlestick pattern, and take entry on various pairs. My gold, oil, and eurusd opening position were closed by hitting my take profit.

Oil: My entry on the oil price was at 59.73 with the target of 60.29. For a few days, this price has been trading sideways. At the entry-level, I got a bullish pattern. As you see my stop loss was 28.24. Later I had a buy order that closed a few minutes ago conventionally.

Gold: My two orders on the gold was closed by hitting take profit at 1789.35, stop loss was 1758.13, and entry-level was 1785.11.

eurusd: At yesterday morning time, eurusd pair came down but as I was overconfident with the uptrend of the pair, so I took a third entry on the pair which I closed manually.

My Running Trades & Eurusd Analysis

Today I am going to share my running good trades. I have given different analysis, but all analysis was uppish on the eurusd. After three working days of floating loss, my two trades now showing a very good value. I said to you that I am on a new strategy to build up. With every position, I have a clear explanation and before taking entry I have to define what will be my target and how much loss if my trade leaves me.


Fundamental Analysis:

Yesterday, the EUR USD pair dropped below 1.21, but the pair was able to recover above 1.2130 in a short time. The German IFO business climate has worked behind the rise in the price of the eurusd instrument.

The German IFO business climate came in at 92.4 points in February, better than the expected 90.5 points. The sector was at a four-month high which helped the Eurozone pair recover from the 1.2090 prices.

Yesterday ECB President Lagarde:
I found some strength for the euro. I have highlighted some points of Lagarde's statement.

• How the epidemic will unfold is still highly uncertain but nothing to worry about if we work together against the epidemic.
  
• The ECB will continue to support all sectors of the economy while maintaining favorable financing conditions.
  
• Legarde is optimistic that Europe can emerge stronger from the corona pandemic
  
• I see Respective ECB President Lagarde’s statement made strong the euro as we see eurusd is trading in the market map.

Technical Analysis on Eurusd:
At present, the price found a strong resistance 1.2170. The h1 and h4 chart showing a lot of tops around the level which is proving the breaching the level will ensure its uptrend. According to my analysis, this pair has taken enough correction. From the point of view of the candlestick pattern, the price has formed a lot of bullish patterns that are working to increase its value during the upcoming period of this week.

OVERVIEW ON GBPUSD

Fundamental Analysis & My buy entry:

For three more weeks gbp has been bringing the gbpusd pair in the area of the new rise. I was not interested in the pair. Yesterday The Prime Minister of the United Kingdom Boris Johnson has made a good statement that he is going to step up the lockdown step by step. He said his government is very careful about the coronavirus and Four tests for easing lockdown are currently being met, so that the first step will proceed from 8 March 2020. I was convinced with this statement and took buy entry on the gbpusd. He added more that they will make a strong plan to bring them out of lockdown cautiously. I do not see any fear or weakness on the pound to carry the pair at 1.4143,1.4263


Technical Analysis:
This is week gbpus is very powerful in his uptrend. Yesterday the price made a bullish pin bar with the help of 10 periods moving average and after that, the price is flying above the MA line. I think the MA indicator of 10 days is working tremendously using the h4 frame. The power of gbp makes think quickly the pair will break the h4 ascending channel to climb more impulsively.

Forecast for US Crude Oil

Like other pairs oil prices also were in a correction. Last night he closed his correction and shifted to its main trend. By looking at the pair this morning, I get a strong bullish pattern, and I do not make it late to trade the pair. Equally, by the support of moving average 10, bulls created a clear bullish engulfing candle which indicates a strong uptrend market. The level 66.72 is the target price of my buy trade. Stop-loss definitely will be long and the level is 58.34. This is a potential signal to trade, so you can join me in buying the price.

Earlier after gaining 62.21 oil price lost its power and came down to test his recent support. I see the price formed triple bottoms with the level of previous resistance. It means after establishing concrete support at 58.50 the price now keeps on running to the north side. Therefore, dream with my buy trade will bull so far.







My Running Trades:

CHFJPY: With the pair, I had a sell order. I informed you yesterday that I got double confirmation of the downtrend that's the reason I sold the price. It has been taking a little more time to be closed by hitting my take profit. Currently, the quotation is a few above from my take profit. I expect by today my sell trade will be close with good profit.

NZDUSD:I had an analysis on New Zealand against the US dollar pair yesterday. The uptrend continuation of the pair had a strong confirmation from price action as well as fundamentals. Happy to say this trade also running with good value. Now Asian Session, the market is slow, but it will be strong again in the European session.

Bye For Today

[amiron56]

Greeting to all....




Market Overview:Today is the third working day of this week. This morning, a piece of good news has been generated for the buyer of the gbpusd as the price has jumped to the level of 1.4223 which was not too much expected. Definitely, it is not good for the seller of its price and I pity the people who sold the asset earlier. Yesterday I provided a hint of the fact. There is not good news with the real buy trade in the pair of the gbp/usd but I had a buy trade in the demo that has been closed hitting my take profit. Now Australian session, both New Zealand, and Australian currencies are moving with good power. A few days ago I said in my journal that the level of 1763 is a very strong area for the buyer, so from the level gold will run toward a downtrend line. Gold already crossed more than 70$ from the level. In the h4 chart, the price about to complete its bearish web because descending channel up boundary line is very near the price. The Canadian dollar is too strong, this currency already reached the usdcad pair downside of the daily support. Right now the price is trading around the weekly support. I was positive regarding usdcad but that was wrong from my side. US crude oil is looking weak to continue its upward journey. Yesterday I show a bullish pattern here, now the pattern is testing to grow its bullish assembly. I had a eurjpy analysis a few days ago where I provided a selling idea but the price tends to trade around the signal line. As US-related all pair are doing good that's the reason US dollar index is approaching its support. For long trading, an investor is waiting or already sell the dollar and upcoming session of the remaining working hour.

The recent MT5 forum is becoming attractive to its new and old users. Its recent noble activities have increased its loyalty to active, non-active users and even to people all over the world. I wish MT5 forum longevity and would like to work with this forum for a long time.

My Closed Trades:
It is definitely a very good message to you and me that this week no trade has been closed by hitting stop loss. Three more trades still running on the pair of eurusd, nzd/usd, and oil. I missed an entry with the gold business at the 1790 rate.

CHFJPY: One day ago, the pair chfjpy made ascending top touched ascending channel up the line as well. When the price finalized its reversal trend I realized that and shared that here. The sell trade auto closed by hitting take profit last night as you watch following my attachment. My selling price was 117.51 and my target price was 116.63, stop loss 118.08.

GBPUSD: I informed you that due to the fundamental and technical reason, bought the gbpusd yesterday. My take profit was not long that's the reason my position managed a small profit. If I hold it then this small give me an encouraging profit no doubt. Just remember, I said more in my previous analysis is that pound is ready to break the channel limitation guided by the 10 periods moving average. After a few hours of consolidation, this pair crashed its channel boundary line. Mainly Yesterday's Borish Johnson's statement has given too much power to the pound.


US Crude Oil: After an h1 consolidation period, oil price formed bullish engulfing as a hint of its consolidation break for shifting to fly north side. I did not miss it and bought the price which also auto closed with the green pips.

Running Trades And Analysis For those Pair:

EURUSD: My buy trades getting older. I bought the price last week. Last week the price made another lower high, I consider this as a positive side of the resources. Yesterday the price went to the top at local resistance 1.2178 and fail to carry and turned back down. Now the price is moving up aiming the 1.2217. I do not see any chance to tend to take a long correction. I expect today this price will retain running with the uptrend rally. In case the price refused by the level of 1.2178 that will make the price take a long repair.





Possible trading Strength: There is no important event for the euro but there are some events for the US dollar in the economic list. If those events for US currencies bring negative data then some strong movement could be seen in the London and US session else not.



GOLD: The upslope with the gold has been confirmed by the support of 1763 as well as a bullish bar along with the descending channel support. Gold touched 1810 yesterday and got weaker as this level gold found some resistance. Rebounding down rejecting from the gold formed bearish pin bars but later the price reversed the pin bars by upward movement, proving its rising wedge will be continuing till the channel up the line. Because of this logic, I bought the asset an hour ago. Have a look at my developing chart analysis which will make you more clear about the further possible activities.






US Crude Oil:I am suffering from my oil trade. Getting d1 Bullish Engulfing I took buy entry. I am watching the divergence signal in the daily time frame. As this is a signal of a long time frame so some tension has behind with the signal. In the US session, the Crude oil event will be released so before releasing the news we have to wait to get its strong movement.



gbpusd:The hike of the gbpusd of this morning can not be sustained. Seems to me the price will come to the channel to test his new resistance using the hourly time frame. At the US session Monetary Policy Report Hearings will be released. Before that gbpusd will remain down. That's the reason I take sell entry.





The Aim Of My Journal Update:
Seems to me, maximum of forum members are engaging in making posting or journal update with the aim of obtaining a big bonus including me. They make analysis one pair but they trade other pair. I have decided I will trade the pair with which have my analysis. It will increase the review of my journal and will help me to develop a successful trading strategy that directly helps this community.

Have a good day with good trading

[amiron56]

==================Good day to you all


Hi friends, I would like to start my journal update wishing the MT5 forum a long life. I hope you all did not miss trading in this week's market and worked hard to make some profit all the days. Today again I come here to make update my journal. First I will share my successful trades, second I share my running trades and running trading opportunities on the trading pair. Like other days you will get a good and effective analysis on various pairs such as eurusd, chfjpy, gold, and oil price mostly.



Market Overview: Before going to the main point I have an overview of yesterday's market, Fed chair Powell testify & Monetary Policy Report Hearing brought the market volatile before releasing those events. Asian session and a few hours of the London session US dollar was the week when GBP and euro were doing little good but later US dollar index increase on the occasions of Powell Testify. The pair gbpusd came down more than 127 pips, gold got down 30$ and eurusd also dropped. Nzd/usd & audusd suffered from low cost by the influence of the Powell testify. After 14 GMT market again tried to reverse and after one hour US dollar index lost its ground when all negative trades of those mentioned pair started to regain. Yesterday was a nice day for scalper because gold offered a very good trading opportunity to make a quick profit. I have a good record and achievement on yesterday's trading.





Yesterday's Trading Record:
Feeling happy to describe my yesterday's trading activities. Yesterday was a good day for me because I did well in making earning and making adequate knowledge.

EURUSD: For some Fundamental reason the euro couldn’t do anything better before the US session, realizing the reality I had corrected for my two opening trades for the eur/usd pair, a few moments later both of my position hit take profit and automatically closed. After closing my business, the market moved from 1.2160 to 1.2100 level when I felt that my decision was right and very professional and I really enjoyed that moment. I bought the price with the same rate @ 1.2139 with the target of 1.2171 and 1.2165.



NZDUSD: I did an analysis one day ago the pair penetrated its strong resistance by forming a long d1 bullish candle and I pushed a buy trade. I was 100% confident with my trade. Problem is that after making a breakthrough the price got slow which made me think to modify my target. Sorry to say really I changed my target and within a short time my setting take profit helped me closing the trade. My entry-level was at .7309 and my take profit level was 0.7379.



GOLD:
I have another gain with the gold pair. Fed Chair Powell Testifies caused a strong negative pressure advance on the gold and XAUUSD reached 1782. In the hourly time frame, this level was a demand zone, so I got a pretty buying setup on the pair. My buying price was 1790.91 and my take profit was at 1795. My taken position quickly closed as the market was playing volatile mode.



US Crude Oil:
It was interesting to me when all pair were respecting the US dollar oil price had no honor and moved up. You know my lot size only 0.01. Reaching its uptrend suddenly felt weakness and came to a long correction. I know this a volatile pair so my stop loss long that's the reason without closing by hitting stop loss my trade met with success.

My Today's Analysis

Fundamental Analysis for euro:
Due to the Fed Chairman's discussion and Fed Chairman Testifies euro lost its power and decline but later the currency did better against the US dollar. Problem is that above 1.2178 euro feeling too much weakness. Someone expert has identified the reason;

• Delays in vaccine deliveries in Europe and lockdowns in Germany could hamper the euro's rise.
  
• Europe is lagging behind in its efforts to vaccinate its citizens. The British-Swedish agency told the European Union that it would supply only 90 million doses in the second quarter. Which is half of the previous estimate.

Technical Analysis For EURUSD:The pair is currently hovering around the 1.2160 prices. Yesterday the price formed a bullish pin bar with the h4 support at 1.2109. I do not see any strong possibility to increase its movement on any side. As the price made a bullish leg around 1.2109 so today we will see a bullish effort to touch his local resistance 1.2179 quotations. From the point of view of the candlestick pattern using the h4 frame, An inverted head and shoulder pattern looks to build on the h4 chart but its scenario has not completed. I draw a downtrend line by dot aligning some of the tops which can determine further up or downtrend. Have a look at my chart.






CHFJPY:A few days ago I sold this price we had consecutive bearish engulfing. Yesterday my trade closed with good pips. Today I notice the price has completed its correction and tends to move up. With the channel down boundary line, the price formed d1 bullish candle, seeming me Swiss Franc now very much strong for playing a bullish rally to his channel resistance. Moving average 200 is still bullish and currently, the price going to break 50 sma so behind my buy offer with the chfjpy is not invalid. I have not a long expectation with the uptrend of the pair as we found a weekly bearish pin bar with the weekly time frame. I want to say before making a downtrend this pair may test its recent high when my trade will be closed with good profit again.









XAUUSD:XAU/USD is approaching the level, which is located at the level of 1795. Inside the descending channel, the price formed a couple of descending heads, it is proving weakness is not over from gold. In the meantime, 4 hours of bearish engulfing has been made which is discouraging buying business on the asset. Currently gold is executing a confusing movement. According to analysis, if the price manages to break local resistance 1810, then we will buy otherwise not. However, if the price is able to break 1782 I will consider selling the pair in the short term to a level that is situated at the channel support line 1760.






US Oil:The asset on the h4 frame is giving us a selling signal. Between stochastic and price I found hidden divergence. After managing all losing trades yesterday oil price recovered its position but we see with the uptrend line it has a lot of weakness to trade above the trend line. In the meantime, a Doji of the h4 period has been formed. As all these signals are coming from h4 so I do not consider this as strong. I would like to place to you to check its validity and trade that if you can assign a strong selling signal. You know that yesterday's oil inventory report came red so before climbing up oil may drop.




Hi reader, how do you feel reading my journal? Do you have any suggestions for me? I have enough time to read today's journal from you. Goodbye for today in anticipation of your cooperation.

------------------------------

[amiron56]

A lot of changes have occurred in the Forex market during the last 10 hours when I was in my bed. I also see a false break in the trading of the US dollar index. Rebounding from channel down line by forming a bullish engulfing pattern in the 4 hours time frame the mother pair the US is now trading above 90. Its effect is visible to all other pair US dollar-related pairs. Gold felt the power at first and was landing. Later eurusd and gbpusd came down respecting the US dollar strength. My given analysis on gold works very fine. Remember, I told that gold couple formed a couple of descending tops inside the falling channel, and unless the descending trend line break that aligns those tops sell trade remain valid in the gold business. I agree that such a downtrend of the gbpusd I was unaware. I check many other trading pairs that are losing their strength and getting down due to the power of the US dollar. Today, I will take the first fundamental event after I will explain my successful and non-successful trades last 24 hours. Later I will give you today's analysis to trade the market safely with confidence.


Scheduled News For Today:
A long list of the economical news for today but there is only one big event that has already released. Rest of the hours of the closing day all news is medium and low impact. What I see the increasing power of the US dollar is getting slower. But a lot of news on the lower side of the list is waiting to release for the US dollar. S0, in the American session market, will increase movement with the help of the events.






Closed Trades by Last 24 Hours:
I did not fail to grab some gain with the opening trade last twenty-four hours. I tried to realize the movement of the gold, eurusd, oil, and other pair and was able to read their trend perfectly.





Successful Trades on Gold: As I said above that gold was down, and we saw a consistent down potential on the four-hour chart. But I tried to catch some reversal trades with the gold as the price was slow in its downtrend. The maximum time I used h1 signal for making dealing on the metal. My first trade was sell, and I took the entry at 1794 to a level of 1790. Later I sold the price 1785 with the aim of 1789 in the short term. Besides that, one more trade was taken by me. The price now trading near 1763 which was the last support of the price. I acknowledge my weakness to follow my analysis. In technical analysis was bearish, but I took buy entry that's the reason profit on gold is not increasing to more or to you.


Gain with eurusd trades: My given buy business on the pair did not dishonor. Before falling, the pair hoped to our mind to touch 1.2345 but due to the fundamental reason could not fulfill our expectation. In the midday, I modified my trades draw rising channel and set my take profit with the up line of the rising channel. Both trades were closed by hitting my take profit as you see in my attached sheet. I have gathered learning from the trades that we need to check the present market condition and update our target.


Short Achievement with Oil Trade: Yesterday, my analysis of oil price was good. I showed the weakness of the uptrend and set a selling setup there. Likewise, my oil trade provided me a good experience giving green pips. After opening my trades move on in negative side but after the London market went to move south side. I sold the price at 63.20 and closed my trade by hitting my target price at 62.76. Oil currently moves down making bearish convergence. I do not think before closing this week oil price will increase its trading range and remain in a range of 63.83 to 62.67

My Analysis On Various Pair For Today.

US dollar Index: I am not interested to tell something about the other pair except the US dollar index. The level 90.00 did not help the pair as support, but when the price reached 89.67 the couple received excellent support from the level and rebounded for recent breaking support. In the meantime, in the 4-hour chart, we have bullish engulfing while stochastic looks very strong and sharp and crossed the overbought area. To start buying the price, we have to wait as long as we do not get a h4 complete candle above 90.00. Sorry to say I did not late and aggressively place buy trade on the pair to a level at 90.55 where I found some resistance and set my target there. Around the level 90.55 200 MA is trading and still causes a negative impact for the pair.


Technical Key Fact:

• The current h4 chart consists of two Long Bullish Candles.
• The engulfing pattern got honored by the market.
• Indicators indicate the price is very thirsty to reach its shopping channel resistance line.

usdcad: After a long-losing, usdcad turn into a fight. A weekly time frame support for the pair is working for the US dollar. Good news for all kinds of investors and traders because in the daily frame we have strong formation from the candlestick chart. In the stochastic map, I see the price now trading in the "W" pattern. That means the price is starting a strong reversal trend. I bought the price one hour ago that's the reason my both trades are hovering a very increasing trades.





Guys, remember! Today is Friday, some unreadable noise are introduced in the market when you fail to read the market to make good trades. Best of luck.

[amiron56]

Greeting to all



In a nice morning, I am going to share my very good experience. Before that let met thanks mt5 forum as they paid our week-7 bonus. We know our great forum is still developing with some standard feature, so we should be patient and need to give time for developing so that everyone gets their bonus according to their posting quality. For the last three days, I have been submitting here my successful trades to share with you, but that was on the demo. Yesterday, after getting my bonus, I took my attention to the usdcad. The pair on Friday in the d1 frame looked began reversal trade aiming the up line of the descending shopping channel and h4 200 MA as well. It was a good observation from my side which I showed in my analysis. Due to the advice of my friend I enter the market later when the pair was trading at 1.2666 instead of 1.2644. After releasing a news event for the US currency some noise was created, but I was stuck with my buy trade even I opened counter trade when the price came down near the 1.2644 area. I got success with both of my trades with the pair. Later I move to silver pair and sold. I did not hold my position as I used a little big lot in the dealing of usdcad and silver.

My given withdrawal Instantly Released: A big thanks to InstaForex forex, especially the finance department of the broker. After locking my all successful trade and fulfilling all lot requirements, I filed the withdrawal request at GMT 16.50. By five minutes later, I heard a notification sound from my mobile. With great interest, I moved to my mobile to check the notification and see my requesting money reached to my wallet. It was really a great matter of happiness for me for all members of this community. You know I'm very much determined to follow my current trading strategy. I tried to keep away random trading because of the reasons I skipped a lot of trading chances in the gold, silver, and other pair. Meanwhile, I saw usdcad is trading with some decreased value at 1.2709 returning from 1.2728. I did not make it late to buy. As I say above that my expectation was not high, so I lock my trade with profit when the pair reached the level of 1.2723. At that moment again I put up a withdrawal request which remains pending and hope next week, or before it will be processed.

Gold: The precious metal gold couple closed at seven months lower price. I missed its bearish train to ride making by selling transaction. Three consecutive bearish-long candles were formed in the gold business map. The strong support of 1761.92 was easily broken and without any retracement, the price reached the 1716 level. I hope you did not fail to realize the psychology of the gold pair and grabbed a good gain trading it. I hoped its downtrend will be more weighted till the 1700 level but the price reaching this 1716.26 level, found some support and pulled back more than$17 giving respect to the level.

Now I try to guess the next movement of the gold using various indicators with a different time frame. The indicators currently point to the potential of selling the pair to the support of 1686. If the price sustained above 1716.26 a different outlook could be seen in gold resources no doubt.


Why I Remain Bearish:

• Moving average 50 and 200 using daily frame still bearish for Gold 🥇.
• From the point of view of Elliot Web, the price is on the third web.
• US Stimulate Package is giving some positive review for the US dollar to fight well against the Gold.
• The 1958 resistance for the gold consist of three more tops still causes negative pressure and will continue until gold touches down the line of the falling channel.

usdcad: Now I will explain the possible trade of the usd vs cad pair next week. According to my expectation, the price has been closed just below the up line of the descending shopping channel. Yesterday's market of the usdcad looks formed inverted head and shoulder and as the scenario was completed, so its upward strength was increasing. The channel boundary line, as well as near resistance 1.2785 for the pair, is not weaker. In my view, if the price manages to break the channel boundary line and holds above, we will be looking for buying setup. However, if the pair pull down by rejecting channel resistance, usd/cad will continue the downtrend toward local support 1.2600 when we will be bearish.

Important Things Need To Remember:

• US oil price now down potential but just above the uptrend line.
• Usdcad had two breakthrough 10 and 200 moving average, in the candlestick pattern we had daily and hourly bullish engulfing.
• In the daily time frame stochastic is moving up sharply and in the price map usd-cad looks ready to overcome the bearish limitation.

Enjoy your Trading................

[amiron56]

JOURNAL UPDATE ____@@@____28/02/2021

This is a fantastic message to all members of the MT5 forum that they received their bonus for Weekl-07 & and 08 yesterday & last Friday evening including me. It didn't take a long time for the bonus to be sent to our trading account after updating our profile. Many members were angry at the forum admin as well as the forum authorities, but I have an experience with the MT5 forum that its authorities are extremely sympathetic and helpful to their clients. Crazy guys are now beginning to believe that admins are very concerned about what we want and how we can maintain the rules of the forum. The problem is that after receiving this gift we usually start gambling maximum which is the most disliked thing to the admin and forum authority. I know most of the members of this forum are in Asia who are bonus defended trader’s but some of them invest their own money like senior kalex and others. In fact, It is really necessary to value our obtaining forex education and the gift of InstaForex. We are lucky that our forum is still running where many forums in the world are closed. Even the MT5 forum has increased the posting bonus. Long ago I said I lost more than my invested 3K dollars very earlier. The MT5 Forum has made it possible for me to trade for a long time after that, so I have a lot of respect for this forum and InstaForex.













Last week Trading Activities in Demo:

Last week, a couple of times I asked you think to buy the usdcad. It is true that despite the bad fundamental event, the stimulation of the Canadian dollar turned the pair usdcad to the bearish trend to a level at 1.2460. A reason for my buying offer for the pair was the support of weekly and daily was not far from the current quotation. Two days later, I followed my prediction and my observation came to true. Along with the weekly demand region, this price formed bullish engulfing and passed to the south more than 200 pips. I bought the price at 1.26 level, after getting confirmation of a reversal trend-making by bullish daily engulfing and inverted head and shoulder pattern using both time frame on the hourly and four-hour. Have a look at my running trades on the asset.

Today's Analysis On Oil & US Dollar Index

US Oil on Friday was in the ascending channel, In a small range, we have three more webs. Breaking the signal line the price now very close to the lower line of the channel which means its downside movement was going more stimulating. In the map of the stochastic, the price completed “M” pattern, so we should wait to get confirmation whether the price continue its current trend or start the reversal trend.

Last two working days of the last week, the price touch its channel up line to break and every time the price rejected by the power of the up line of the channel that indicate bullish moment was losing his strength. If we think positively, the price created several ascending head by a quick time, so we may decide bulls still deserving a good power.






The Energy pair oil of the daily time frame hovering some negative clues technically and fundamental. Bearish divergence is more clear in this frame. At the top we have doji and the current candle is running bearish which is long in shape. The lower side bullish band is away from the current quotation. Seems to me before making any bullish activities oil could have a retracement with the lower band.

However, Bulls of the oil have some positive military strength, daily stochastic still trading above the overbought area, third day of the last week we had daily bullish engulfing. Not only that, the bullish engulfing was tested by the market which made the pair impregnable.


Trading Recommendation: Now I will try to compile all issues to make a strong signal. In the 4 hours time frame we have bearish inside bar, the daily time frame indicate the price is one of the bearish divergence. Bullish band at 58.85 is waiting to give power the current uptrend, so my signal is bearish for the oil price.









The US dollar index: is hovering two bullish breakthroughs with h4 200 MA and descending channel. The lagging indicator stochastic do not give us negative data, he also is trading above the overbought area at 90.9 but by looking the h4 price structure, we notice three more tops around the level that mean to open new we should wait and who has old buy they should close that. One thing we should keep in mind that this pair closed with a huge power, so weekend time the price will not lose his strength.






Trading Setup for the Pair:
We should be defensive and need to have well preparation to make any transaction. I am hoping the asset will make a bullish leg above the Chanel to relaunch its uptrend for its resistance 51.54.

The daily chart give us more formation of bullish web using the stochastic and using the candlestick pattern. Stochastic is very sharp in his movement from oversold to overbought while a bullish pin bar with the lower boundary of the descending channel encourage us to place buy exchange.







Have a wonderful week.

[amiron56]

Greetings to all Forex business people and local and foreign visitors, wherever you are. Likewise, I hope you all have prepared a new business strategy and are waiting for employment in the market with the hope of success. Today is Monday and the first day of the week as well as the first day of the new month. I would ask you to take some extra time to read our market pulse to avoid wrong entries. We should think, have enough time to trade, and we should get a potential trading signal and for that, we should have adequate patience to get it. Any amount of bonus may possible to get by giving some effort every day of a week but investing here the bonus and get success is not easy even we can lose our principal amount so quickly.





Human Emotion & how to manage it:

Due to the use of our passion and greed, it is not easy to trade in the Forex market after receiving a bonus for two consecutive weeks. Situationally our sentiments will try to enter our minds to rule ours. It is a matter of frustration, and it is for us to know that we have failed to remember it over and over again so as not to repeat the mistake. So we should take extra care to give adequate treatment to the weakness to govern human emotions. The positive attitude that we should have to follow the rules of the business is a challenge for a man or a woman to succeed in this business. So before begin trading today, we should think we are going to take the challenges and there is no alternative except winning the challenge.



The way to know excessive use of emotion in your trading:

• Before entering the market, ask yourself is there excessive noise or less in the market, and you will be an emotional trader if you trade the noisy market.
• When your lot size will be unrecognized by money management.
• When you do not use stop loss and take profit order with your opening trade.

My Successful Trades


For me, it’s good news that all the opening businesses in the demo have made money after the market opened today. Since the beginning of this week, I have thoroughly examined the market psychology and realized that the US dollar is losing its strength while usdcad, and the US dollar Index can take some reasonable correction to their last week's continuity and update my target. Just as it seemed to me, last week’s trend was rejected by the first day of the new week and March 01, 2021.

My Analysis For Today

Silver Price Analysis And My Trading Idea:

The silver price retreated sharply last week’s closing day after making a couple of retracements with the up boundary line of the up-channel. When the price reached its 4 hours support located at 26.06 fibo value 236 bull reacted highly. Quickly the price turned back with the help of two support; first one channel lower line and second one fibo 23.6 value. From the candlestick perspective, an h4 complete bullish candle confirms its bullish tendency.



We have a more positive formation for silver using the fibo tools that bouncing from the channel support region the price successfully confirms its rate above 38.2. I have no way or logic to ignore the bearish momentum around the current level and currently moving average 10 is fighting on the behalf of bears, so I consider this level also critical for bulls and when the price will confirm a complete h4 candle I will be more sure about the up movement of the pair.



Details Trading Set Up:
On the upper hand, I also have aligned several of the tops by downtrend line and see a strong resistance for the couple around the region of 61.8 Fibonacci at 28.019, so our target should be 28.00 level when our stop loss will be below 26.00

However, the level of 26.06 is a critical area, I have shown in my info graph. Due to any reason bears collect extra power to break the level and got success, it will open a continuation of a long bearish trend.








Possible Trading Chances With The Usdcad


Usdcad: My two long buy orders with this pair were from the 1.2593 level to the 1.27 or plus price level. Now, the channel up the line and the 200 moving average doesn’t like this pair’s reverse trend while stochastic showing his weakness to trade above the overbought territory. USDCAD's bullish strength could be strengthened if the price confirms its rate above 1.2760. Currently, the price is facing two major resistance from the down channel boundary line and h4 200 MA. So while prices could earn support from those indicators, I would buy this couple again and ask you to follow me.



Dear Guys, In the pair business I suspect a short adjustment while the properties will move down to retrace the local demand level at 1.26. In the beginning, the market was a little bit trending but now bulls and bears look weak in their work. I think the next session again will see some change in their action and get a good entry on the price.


In addition, if the bears resist the strength of the bulls and make sure their rate is below 1.26, I will not hold my purchase exchange, even being bearish I will enter the market. you know, it is impossible to realize 100% of the market, so possible levels for gaining and losing, we have to identify for setting stop loss and take profit before entering the market.

have a good day

[amiron56]

JOURNAL UPDATE _____@@@____02/03/2021

My journal visitors, reader, and mt5 forum beloved friends around the world, you first take my warm love and greeting. The Forex market on Monday was very noisy while gold and silver made a trapped trade to burn the account of novice and the account of big lot users. The beginning of those pairs was too strong to the north side with the reversal trend but after making three 4 hours white candles, both of the pairs started to lose their upward strength and came down. It was very tough for the Novice and attacking traders to handle their accounts in this situation. I pity the people who met with MC due to the reason. But we are little happy that we gathered another experience about the opening day. Yesterday was the first day of February 2021and the first day of a new week. Actually, we should give enough time to the market to make establish a new trend in the market in order to be sustained and further we should be interested in trading with that.



The Withdrawal Update:


The process of submitting my second withdrawal request on Friday last week was processed yesterday. I am grateful to InstaForex Finance for processing this withdrawal on the first day of this week. There is someone who usually helps me to deal with the bonus and solve my financial problems by earning it. This is our pleasant forum and I especially thank the MT5 forum authority and its respective sponsor InstaForex. I have many good wishes for the largest Forex trading community, which is our beautiful community MT5 Forum.











My Closed Trades Last 24 hours:
No big profit I was able to make last 24 hours. I was successful to read the pulse of the oil market. Yesterday I side in my oil analysis there was bearish divergence and the daily time frame produced a doji candle. From that perspective, I sold the price, with which I have big success to share than other trades. I had activities on the usdcad, yesterday morning I got bearish engulfing, but quickly I closed my trade. With the pair of gold, gbpusd I had a tiny amount as profit.










My Running Trades:
silver price: Today I have more good trades to share here. I am also failed to realize the gold and silver. Yesterday at midday I look at the gold and silver chart which asked me to start dealing with those markets. Earlier that, I made an analysis on the silver where I showed a strong area for the buyer of the silver price. As I have confidence in my analysis I did not late to buy it. Last night ISM manufacturing MPI report was very handy for the US dollar but after releasing the economical news gold and silver moved up dishonoring the value. Sorry to say, late-night both metal changed their direction and now landing with a heavy force. I bought the price two times. Last night I closed one with some profit and another trade I kept running. This morning I open a counter trade and the market quickly move down again which very quickly reducing my equity.


Gold: I have reviewed the gold price which also gave me the corresponding signal as the price had up formation from candlestick pattern. Three buy trade I took on the gold and both of my trades now running with a huge loss. Bad luck, yesterday I was able to close with a small profit. Really I fail to realize the gold and silver index. But after entering the gold market I realize my mistake. The price action cleared the motive of the gold because in the h4 period the price formed a bearish engulfing pattern after watching the fact I did not value it because it was on the h4 frame. Now I see I had should respectful to the signal and need to close my buy trade.

FORECAST FOR USDCAD

We know that the US dollar gained last week a lot of green pips against the Canadian dollar. On the first day of this week, the US dollar lost some achievement. It is something mysterious to me that when all US index is flying usdcad landing. This price is trading more than below 50 pips. Now I follow just below the two hundred days moving average and descending channel support the price for inverted and shoulder, From the point of view of the candlestick pattern this morning the price form a bullish engulfing pattern, so inverted head and shoulder and the pattern combining indicate this pair again going to running its reversal trade above the channel and MA line. I have shown the case in my chart analysis and I would ask you to check to be convincing as a buyer of the resources.








Trading Setup For the USDCAD:
My given buy signal on the usdcad is not strong if we check because the Canadian dollar still stuck the power of the US dollar inside the channel as well as 200 EMA. If we follow the last two-week record of the US dollar, above the EMA Canadian dollar quickly strengthens and pushes the price inside the channel. Due to the reason who are love to trade the strong trend just needed to play some reasonable patience to get the price above the two indicators. For aggressive traders, the current quotation is a good rate to buy and the preservative trader will wait until the price settle above 1.2760.

TRADING ANALYSIS ON THE GOLD

This price form a resistance around the area of 1753 with which a lot of bottoms when this area was support region for the gold. It is proving that level 1753 is a strong supply zone which still makes the gold weaker. This morning gold breaches the closing week support which was 1715. Gold formed h4 falling channel inside the d1 descending channel. At present gold looks very strong to the downside and its reversal trend will confirm when the price will cross 1753 and remain above. Till the time we should look here selling signal not buy.







The daily chart of the gold is indicating gold has a lot of pressure to continue its downtrend as there is enough space above the down line of the channel support line. Yesterday we saw a bullish candle shape in the daytime today we see all bullish turned into bearish which is a way to realize the power of bears for the gold.










Dear visitors, what do you think of the signal I gave? I hope you enjoy reading my journal because I have created signals using lots of indicators and different time frames. Special thanks to you for being a member of this great MT5 forum.

[amiron56]

JOURNAL UPDATE _____@@_____3/3/2021

Love and greetings to all of my valued forum companions from any place in the world, and visitants of my trading journal. This week’s market frequently is conducted by the influence of the US dollar and periodically is operated by the anti-privilege of the US dollar. In the US session, ADP will open, its report can bring some changes again. I’ve read many people’s journals today, and I’ve known that no one is happy to trade this week. We know that both silver and gold strengthened the plan to trade under the support by digging a hole in its support and the seller spent a lot of effort for the purposes, but their support regions were too strong that’s the reason seller closed their trades and buyers opened their position. Let’s see what will happen today. I believe the market will reverse into modest and like to contract one side.

I am proud to be able to participate in reliable Forex trading with the blessings of MT5 Forum

Today's news events in the financial market:

Some news will be released today which can drive the market making some changes in previous market scenario. That’s the reason we should read all news category-wise and trade carefully though some time market has no respect for the news report but have respect for the technical reason. GDP news for the Australian dollar will publish in the morning and oh the news already released with a healthy report for the Australian Economy.
There is another medium impact news for the US dollar, ADP Non-Farm Employment Change is having a medium impact on the market. Yesterday ISM manufacturing PMC news for American Currency was green which gave good power to the US dollar index when gold and silver continued their downtrend respecting the US dollar power.

AUDUSD

Fundamental Analysis For Australian Dollar:

Guys, you know GDP news for the Australian dollar already released. Actual value of the financial news higher than forecast. Other things are needed to know an Earlier meeting on Monetary policy on last Tuesday where they announced very low Official Cash Rate of 0.10%. The central bank also retained its three years yield target unchanged.

• Philip Lowe, Governor of the Reserve Bank of Australia said in a recent board meeting that the economic recovery is well underway and has been stronger than was earlier expected.
• The central bank decided that the board will not raise interest rates until inflation is sustainably between 2%-3%, which is unlikely to occur until at least 202

4.





Technical Analysis For audusd:

Today I will concentrate on the aud/usd business couple. This week we have not got big and stable movement on the aud-usd. After gaining a several-year high it took some reasonable correction of its bullish trend. The region .7682 the price correction price found some strength to safe from selling pressure. Channel down line, 50 periods moving average helped the price to shift to its primary trend. In the meantime, the price retains its position above the daily and weekly pivot. Because of those I consider this is good volume and ask you to check its trading validity.



Trading Idea with the Pair:
Sorry to say by looking at the audusd chart I am not watching any impact of the GDP data on the market. At present, the 10 days moving average is very close but still causes a negative pressure for the pair. I think that will be good for the conservative trader that they will come into the market when the price manages his value above the MA. For aggressive traders, my trading recommendation is that do not waste your time and place your buy position. The reason for that, the lower boundary of the rising shopping channel is a very strong band which has been guided the price a long time. So we have to believe the power of the line trade it when our stop loss will be just below the channel line.

An Overview on the CHFJPY & Trading Idea

The price entered the correction phase last week and the ending day could not be sustained in his correction or main trend. Keep an eye on the daily chart, I am noticing the price has formed a bullish pin bar along with the signal line, Previous week the price also stop its correction with the help of the signal line and further formed two d1 bullish candles but after reaching local resistance the price again turned to bearish. As we see with the signal line a lot of bottoms and tops, so this is a good price determiner. Seems to me bullish pin bar and signal line both will help the price to take challenge to break local resistance 117.68. If the resistance is broken then chfjpy may continue to climb up toward 118.93.

gbpusd

Starting this day with uptrend gbpusd seems to continue its bullish movement. The price on the bullish head and shoulder pattern. Making two consecutive h4 up candles the price now little relax taking its position above signal line as well as 10 days MA line. I believe quickly or a few hours later the price will meet with the upper hand band. If he manages to cross then its uptrend will concentrate to make another higher high. On the other hand if the price rejected by the upper band then it may return in correction phase for a little longer








A Short Overview on Gold and silver:
The commodity price yellow metal and white metal are trying hard to bounce back from their support. Using the h4 time frame both the build a good foundation at floor level.


Gold Price: The yellow metal gold is struggling to break near top 1758 to increase his bearish correction. Some expert though it can increase its adjustment phase till 1780. With the hope I do not close my gold position. At earlier morning GDP news for Australian has given encouraging data which usually works for gold. Another thing is needed to see that gold yesterday made a lower low which already break and survive 1733 price turning down from 1737.



Silver Price: Likewise, this white metal is approaching 38.2 fibo level bouncing from 23.6. Three layers are giving guide to the bulls, daily pivot, channel down line, SMA 10 and 23.6 fibo value. If later the price break all the supports of the bulls then negative outlook will be continued on the market.

[amiron56]

JOURNAL UPDATE ______@@@______04/03/2021

My friends & visitor, there are three days left and two days are remaining to trade in this week, including today. Tomorrow is the final day that means Friday is knocking on our door to come and some hope is growing in my mind that our weekly bonus will be updated soon with the kind of forum's authorities. Gold and silver were stuck in narrow range. By looking at the commodity chart we are seeing both the commodities have built support after gaining a foothold around their support level. At this moment both prices are depressed and move downside. From the aspect of price action, the market was quite hard to realize to make a trade successfully not being scalper. A well-experienced person with this business can filter the market, always prefer to trade in the trending market, are not interested in trading in non-trending markets. The first morning I kept the formula in my head, but the strong positive movement of gold and silver on the last Monday changed me.

I am very happy with the MT5 forum because I have used my free time in the Corona epidemic situation to earn extra time.

Today's news events in the financial market:
Today three high-impact news will release in the three sessions. One already has been released that is RBNZ Gov Orr Speaks. I do not see any significant impact after releasing the news. Another news Trade Balance for the Australian dollar has been released with a good statement for the currency. But there is no reaction are visible when I keep my eye on the market. Today’s midday OPEC meeting will be held that is the second high-impact news for Today’s economical market. The last one is Fed Chair Powell speaks for the US dollar at GMT 17.05. Today maximum economical news is low impact. Yesterday medium impact news ADP brought a lousy statement for the US dollar, but the market did not respect the news statement.

US Dollar Index

One day ago the DXY made a break through with the channel resistance and h4 200 EMA. After heading up a few areas encounter a resistant level 91.16 and turn back to down making a bearish pattern. Interesting matter yesterday the price met with the two hundred days moving average using 4 hours chart rebounded up with the help of the MA. The region 91.16 for the pair is looking strong resistance the territory 90.62 is a strong support for the price. We can look for a short buy and short sell in the range and if we are interested to long setup then need to wait to get the price outside the range. My point of view as the price is consolidating with the resistance so the power of bulls ahead to the bears. Let's see what will happen today at US session when Fed Chair Powell will speak.

FORECAST FOR USDCAD

All the pairs are slow and keep their movement in the limited pips. Yesterday I made an analysis on the resource giving a buy signal. Sorry to say the price got down near 90 pips though the US dollar made too good with the other currencies of the world. In my conclusion, said there is a chance that the market will enter a short correction to continue its reversal trend. I found 1.2600 is an excellent level to retrace to continue its uptrend. I also mention that h4 200 MA serves as a concrete wall for bears, so a long buy will be confirmed when the price can gain a foothold above the level. By watching the h4 chart of the price, a bullish engulfing has formed just above the support 1.2604 level. With the support line along with 1.26, the market made triple bottoms, the Fundamental report is not too bad for the US dollar. It is preferable to focus on buying the business couple.

FORECAST FOR CHFJPY

The resistance 117.68 for chfjpy serves a strong pressure. Yesterday I was expecting the price will be flying, but that was the wrong idea. The price comes down to test his bullish pin, completing 100% test the price now looks uppish again, but he is under the signal line. Fundamentally Japany yen is looking stronger, therefore I do not hope the Swiss Franc can shack the price above the signal as well as to the top resistance level. But as the price still holds its position above support from the view of the candlestick pattern, so the price tends to climb up I will not surprise.










Running Trades:
I am hanging out with the buy trade on the silver and gold. No more equity in my account to give support to my negative trades if yellow metal and white metal search for new support. Sorry to say it is confusing to me that gold and silver do not make when gold reach 1739 and silver does not make good when it reaches the level of 26.8. I expected Two important events released for the US dollar yesterday evening but gold still looking for help to stay above 1700. The UK budget has declared and all the experts along this line expected the pound and euro would be stronger in the market but after releasing the news, the US dollar got weaker for a little while and within short again took control of the market.

Best of luck and have a good day to all