Greetings to all my friends, forum members, visitors, and admin team members. You are all welcome on my trading journal. I am fine and I hope everyone else is as well. I mentioned yesterday in my last update of journal that there were no high impact positive news that are projected to impact the market. The market follows our technical analysis, so I have a lot of positions that I closed in a good profit. Additionally, I am still running a scalping trade on EURJPY, so I'd like to share it with you in detail. Today I will analyze my trades and discuss my strategy for the day.
MY Booked Profit:
There are a lot of open positions in different major and cross currency pairs. I am sharing with you the following chart of my booked profit. I closed my profitable trades in NZDUSD, EURGBP, and AUDUSD, and I saved 37 $ profit. The trades I have opened so far are running in good profit, but I still hold them to gain more profit at the end of the day.
Today is a very important day for Dollar news. There is a chart of fundamental news in which two dollar high impact news will be released during the US trading session. CPI m/m and Core CPI m/m are two of the most important news releases regarding dollar, and I closed all of my major pair trades before the news was released. My capital is then secured.
Since last week and this Monday, I have opened and closed a number of positions in good profit during the last US trading session. The positions I've opened are more long and short in more major and cross currency pairs. Currently, I have 10 active trades in my trading account as you can see in the screenshot below.
I opened a long scalping position in EURJPY when I found a good buy setup late at night. All is clear in my chart, so I have opened up a buy position with the lot size of 3.01 $, which is running in good profit at the moment, but I will wait for it until it gives me more profit. In the H1 time frame my Elliott wave setup is complete and price went bullish after completing wave 5 and EMA's 8 crossed 21 and trend is bullish. Additionally, the RSI trend line on the intraday time frame indicates a good bullish movement.
I opened a sell position in the USDCHF pair during the early morning Tokoyo trading session. Testing the resistance level for the third time and making a triple top is a good price action setup. Currently, I am holding a sell position with a lot size of .50 $ at the price level of 0.9226. Once the prices drop quickly, sellers gain control over buyers, and our trades turn into good profits. The RSI standard MT4 indicator is showing good divergence with triple tops, which is a good sign for short trades.