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Thread: Elsayed's - Trading journal

  1. #121 You can automatically minimize the read posts in your account in the 'Forum Settings'
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    Greeting and good evening everyone,

    Update of my running trades on GBP/USD:
    After waiting for almost 48 hours, the resistance level of 1.3600 managed to send the pair down to the level of 1.3542 near to the level of 1.3535 where I placed my take-profit order. After that, the pair started to rise again from that level to the level of 1.3590 as shown on the picture below. So, I decided to close my running trades on the GBP/USD pair manually at the level of 1.3573 and 1.3577 where market movements are too slowly this week and I have tired from the waiting. So, I decided to close the two positions with profits of almost $40, but I see that the pair will continue its downward movement to the level of 1.3535 without problem, as the short-term moving average crossed below the long-term moving average, giving a bearish crossover on moving average indicators. In addition, the stochastic oscillator is moving near to the 80% level, giving a sell signal and shows that the pair is trading at the moment in an overbought zone. So, everyone has the decision either to close his trades now with good profits or to wait until the pair hit the level of 1.3535 where I placed the take profit order. For me I see that the best is to close the running trades from the current price level.

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    Name: GBPUSD14.JPG Views: 758 Size: 153.8 KB

    After closing my running trades on the GBP/USD pair. I sent a withdrawal request OF $97. I always withdraw my profits to my skrill account, but that is the first time I withdrawn my profits to a USDT ERC20 wallet, as I need to receive it into my USDT wallet on PAYEER. Hopefully, I receive that withdrawal request as soon as possible on my USDT ERC20 wallet, as I am worried because this is the first time I withdraw to a USDT ERC20 wallet. At the moment, I will stop opening new positions to receive my withdrawal request without a problem.

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    Name: USDT.JPG Views: 120 Size: 17.1 KB

    Wish you all the best of luck!

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  3. #122 You can automatically minimize the read posts in your account in the 'Forum Settings'
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    Greeting and good morning everyone,

    USD/CHF:
    Last week, the USD/CHF pair managed to break below the uptrend line and the support level of 0.9270. At the moment, the pair is trying to break above the 0.9270 level again, but the 0.9270 level is now acting as a strong resistance level, and may prevent the price to break above it again. So, I decided to open a short USD/CHF position from the current price level at 0.9270 with $0.5 lot size, and placed a take-profit order at the 0.9230 level, as I see that the resistance level of 0.9270 should send the pair down to the 0.9200 level. A stop-loss order can be placed above the resistance level of 0.9270 at 0.9300. If the price manages to break above the resistance level of 0.9270 again, the downtrend will be canceled, so we should be careful about that until the price manages to consolidate below the 0.9270 level as shown on the attached picture.
    • Sell USD/CHF.
      Entry point: 0.9270.

      See also: Wide range of InstaForex technical indicators.

      Take profit: 0.9230.
      Stop loss: 0.9300.
    Name: USDCHF 5.JPG Views: 70 Size: 187.2 KB

    As for the EUR/USD:

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    At the moment, the EUR/USD pair is trying to break above the downtrend line, as shown on the attached picture. If the pair manages to break above it, the downtrend will be canceled. Technically, the downtrend line should send the pair down to the level of 1.1550. In addition, the red line crossed above the green line in the Vortex indicator, giving a sell signal, and the Stochastic Oscillator is now moving in an overbought area, giving a sell signal, and the 6-day linear weighted moving average indicator is about to cross below the 12-day exponential moving average. So, I decided to open a short position from the level of 1.1606 with $0.5 lot size, and placed a take-profit order at the level of 1.1556, as all the signs indicate that the price should be in a downtrend. A stop loss order can be place above the downtrend line at 1.1630.
    • Sell EUR/USD.
      Entry point: 1.1606.
      Take profit: 1.1556.
      Stop loss: 1.1630.
    • See also: Wide range of InstaForex technical indicators.

    Name: eurusd5.JPG Views: 68 Size: 196.6 KB

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  5. #123 You can automatically minimize the read posts in your account in the 'Forum Settings'
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    Greeting and good morning everyone,

    Update of my running trade on USD/CHF:
    Yesterday, my short position on the USD/CHF pair reached my target price at 0.9230 and was closed automatically with profits of $21. Where, the resistance level of 0.9270 was strong enough to send the pair down to the level of 0.9200 as shown on the attached picture. If the price manages to break below the 0.9200 area, the bears will be able to pull the USD/CHF pair down to the 0.9160 and 0.9120 areas. So, I am waiting for the price to break below the 0.9200 level to open a short position because the pair won't be able to continue its downward trend without breaking the 0.9200 level. Let's wait and see what will happen in the next hours.

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    Name: USDCHF6.JPG Views: 56 Size: 174.0 KB

    Update of my running trades on EUR/USD:

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    On October 18th, I opened a short EUR/USD position with $0.5 lot size from the level of 1.1606, but the pair managed to break above the downtrend line and sent the pair up to the resistance level of 1.1666. So, I decided to open an additional short EUR/USD position with $1 lot size at the 1.1606 level to cover my floating losses on the previous position. At the moment, the two positions are running with floating profits of $13 as shown on the attached picture. I am not sure whether the best is to close them now from the current price level or to place a take profit order at 1.1610. For me, I believe the best is to place a take-profit order at the level of 1.1610, where the pair should return again to the trend line for its retest. Do you think the best is to close them now or to wait for the price to hit the take-profit order at 1.1610? Please share your opinions with me so I can take the right decision.

    Name: EURUSD8.JPG Views: 53 Size: 190.5 KB

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  7. #124 You can automatically minimize the read posts in your account in the 'Forum Settings'
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    elssayed has a reputation beyond repute elssayed has a reputation beyond repute elssayed has a reputation beyond repute elssayed has a reputation beyond repute elssayed has a reputation beyond repute elssayed has a reputation beyond repute elssayed has a reputation beyond repute elssayed has a reputation beyond repute elssayed has a reputation beyond repute elssayed has a reputation beyond repute elssayed has a reputation beyond repute elssayed's Avatar
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    Greeting and good morning everyone,

    Update of my running trades on EUR/USD:
    The EUR/USD pair moved without a definite direction on Wednesday. My short positions on the EUR/USD pair haven't been closed so far. At the moment, they are running with floating profits of $2 as shown on the attached picture. I believe that the pair should bounce back to the downtrend line for its retest. So, I placed a take-profit order at 1.1610 as I have mentioned earlier. Technically, Stochastic oscillator is showing overbought condition and potential for the further downside movement. In addition, Vortex indicator is about to give a sell signal when the red line crosses above the green line. Furthermore, the 6-day linear weighted moving average indicator is about to cross below the 12-day exponential moving average. So, I believe the EUR/USD pair will move down and hit my take-profit target at 1.1610 very soon.

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    Name: EURUSD9.JPG Views: 52 Size: 212.3 KB

    USD/JPY:

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    At the moment, the USD/JPY pair is trading bullish above the support level of 113.90. I decided to open a long USD/JPY position from the level of 113.98 with $0.5 lot size, and placed a take-profit order at the 114.50 level. From my point of view, I believe the support level of 113.90 is strong enough to send the pair up to the resistance level of 114.60. On the other hand, Stochastic oscillator is moving near the 20% level, meaning that it is about to reach the oversold zone, giving a buy signal. A stop loss order can be placed below the support level of 113.90 at the level of 113.68. If the pair managed to break below the uptrend line, the uptrend will be canceled. So, we should be careful about that.

    Name: usdjpy9.JPG Views: 27 Size: 185.9 KB

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