Good evening all my friends .Hope everyone is on the green pips .I saw today that many people also experienced margin call while some members made good green pips .In my last post I told that I opened in AUDUSD pair and was in the positive side .The pair went upto the 20 pips upside as per my expectation .Last time I traded with 6 lot size and after attaining some 20 pips ,I closed 5 lot size in that deal with about $100 profit but the pair came back sharply from the 200 EMA in the daily timeframe .After seeing the bearish candle pattern again I opened the sell option with some high lot size and recovered the previous losses .After scalping in total I made about $162 profit and requested the amount for payout .Today Morning i received the amount in my pay co account and for that a big thanks to mt5 forum and Instaforex .
I will just show you people I actually thought about this pair and How I planned the main trade idea and why I quit from it now without holding to aim from my previous target .
1.When I entered the trade order in AUDUSD ,I just saw the daily timeframe and my Idea was just as I depicted last time and suddenly I saw the daily timeframe chart which also made me sure that there may be a good hurdle in that area .Exactly that thing happened and for that near the 200 EMA ,I just booked my 80% profit and allowed to run the other trade order to see what can happen ,after that instead of bouncing it went downside making some more bearish string hourly candle which provoked me to sell that in high lot size so that I could make some quick profit .
REASON FOR FIRST ENTRY INTO THE TRADE ORDER AUDUSD :- Here the pair created a very strong candle pattern in the positive side just above the 100 EMA and that actually made me feel that there may be some upside .
REASON TO CLOSE MOST OF THE OPEN TRADE ORDERS :-I mainly targeted the 200 EMA in hourly timeframe here and that is about 20-25 pips upside from that current trade order entry .So I closed mostly all the deals
Now the question comes why I just closed all the deals and book the profits inspite of keeping some orders opening - its mainly because I made more then my targeted profit and the second reason is that its the experience as inspite the bearish set up confirmation in daily timeframe ,I saw that in daily timeframe already the pair is somewhat showing oversold and for that I closed the sell deals which were in a very high lot size .You can do that with the ATR indicator also .
NOTE :- Here me just sharing my experience to you people that how me actually think when I open a trade order and how me now refining my open trade orders and avoid over trading or keeping waiting for the deal to come to my target ,always we should walk with the market sentiment and not with our thinking .
You people might be seeing that my previous analysis on Gold also went very right as last week itself I told that this week we will see some good sell off but as I said i always go with the most fitted strategy as per my experience .Hope you people got some idea how to open a deal with some simple ideas .
---------- Post added 01-04-2021 at 05:08 AM ---------- Previous post was 31-03-2021 at 03:29 PM ----------
Good morning all of you .I feel now the market trend is becoming clearer for the next week because we are seeing the dominancy of the USD and for that the rise of the USDJPY and fall of USD related pairs are happening .Now it seems that pairs like NZDUSD and AUDUSD are going for the deep fall and thus it can become a very opportunity for the sellers now to make some good profit .
GOLD WEEKLY TIMEFRAME ANALYSIS :- This week we have seen that the yellow metal came down till the 1676 level and now showing some natural bounce towards the 1710 area but overall the sentiment is still bearish and by looking at the weekly pattern there is a very good chance that Gold can come towards the 1550 level in the coming weeks ,it may take some weeks but the possibility to slide towards the targeted area is very prominent as the USD is looking very very strong and may be in USD index we can see the bull work in a sustained way in coming time .But yes from the current level ,we should avoid selling the metal as it looks that the 1810-1820 area is a very good place for the sellers .
NZDUSD WEEKLY TIMEFRAME ANALYSIS :- The pair is now in the bearish mode and it seems that it can come to the 200 EMA in the weekly timeframe upto the 0.6794 area but yes if that breaks ,the pair can come to the 0.6400 level in the coming days .In the daily timeframe ,there is a good hurdle near the 0.6907 area and for that we can expect some kind of bounce from this region but yes the overall sentiment in this pair is bearish .
As per my experience ,I feel that next week there will be some very clear entry opportunities in the market and as tommorow is good friday ,I will avoid further trading in this week because $162 profit in this week is enough for me because I am trying to avoid the over trading factors and trying to develop the patience in my trading .So in total 3 weeks will be going without the margin call factor and that is biggest achievement for me apart from making profit .